Wellcome Trust returns 16.9% from buoyant equity markets

first_imgAt the end of the period Wellcome’s overall equity holdings were weighted towards technology companies, which made up 24%, and financials, 21%.The trustees highlighted opportunities resulting from areas such as increased use of artificial intelligence and the growing importance of genomics in healthcare. It has a 37% stake, worth £457m, in Syncona, intended to develop into a life science investment company.The trustees said: “Through our long-term outlook and our extensive investments in venture capital and emerging markets, we aim to capture some of the economic benefit of these trends.”They added: “The large financial sector weighting in part reflects strong performance of existing positions on faster economic growth. Even after this rally, bank stocks remain cheap compared to pre-crisis levels, reflecting a tougher regulatory environment.”Hedge funds made 9.6% over the 12 months to end-September: the Wellcome trustees said that with greater dispersion of performance between stocks and sectors, there had been more opportunities for hedge fund managers to add alpha. However, the trust’s exposure to hedge funds was reduced during the year.Real estate – 8.7% of the total portfolio – returned 4.4% for the year to end-September. Property holdings had a significant bias towards UK assets.“Continued uncertainty towards Brexit, exacerbated by the inconclusive results of the general election, have put a dampener on physical assets in the UK,” the trustees said. “However, these negative movements were more than counterbalanced by value accretion in Wellcome’s asset-backed operating businesses, in particular its performance student accommodation business, iQ.”The trust’s annualised return over five years was 15%, and 9.1% a year over 10 years.Earlier this year, the charity announced that Danny Truell, its investment chief of some 12 years, was to step down. He took on a non-executive position from 1 October, with Nick Moakes appointed chief investment officer. Peter Pereira Gray was named CEO. Buoyant equity markets in Europe and emerging economies underpinned a 16.9% investment return at the UK’s largest charity in the 12 months to the end of September.The Wellcome Trust’s assets grew to £23.2bn (€26.4bn) during the period.The 16.9% return compares with 18.8% for the previous year, when the depreciation of sterling boosted returns.Public equities – 52.3% of the portfolio at end-September – made a 19.6% return, while within private equity (24.2% of the portfolio) large buyouts performed best with a 21.6% return.last_img read more

Thiago: New Messi emerges at Barcelona

first_img Loading… At 32-years-old Lionel Messi isn’t showing many signs of his brilliance coming to an end but the Barca legend is closer to the end of his career than the beginning at it’ll be a sad day for football when he does hang up his boots. With people always desperate to find the ‘next Messi’ they may not have to look too far with the Argentine’s eldest son Thiago, who is seven, showing he’s got his dad’s skills. A video of his run and composed finish has gone viral: He didn’t have to get past anyone like his dad often does but Thiago still showed excellent touch and brilliant pace and composure to score the goal. Very much unlike his dad, the youngster finished the goal with his right foot, choosing to cut across the ball rather than strike it with the left foot. Perhaps Lionel can work with him in the back garden to use his left foot more often, then he’ll have one over on his dad for sure.Not only does the goal suggest that Messi’s legacy could be continued through his son but it also points towards a future where the Messi vs Ronaldo debate doesn’t go away. The Barca forward and Cristiano Ronaldo have 11 Ballon d’Or titles between them and fans are usually split over which is the best of all time. At 34 Ronaldo is also nearing the end of his career, though again he could still go on for some time, and his son is also impressing in the youth ranks. Cristiano Ronaldo Jr is nine years old, the sons share the same age gap as their dads, and has scored some eye-catching goals for Juventus’ youth teams. There aren’t many records in football that the two dads haven’t broken between them and both are considered the best ever. Read Also:Messi tops ‘Players of the Decade’ chart, Ronaldo missing It remains hugely unlikely that we’ll ever see their like again, once they retire, but seeing how their sons are starting out it might all be in the family. FacebookTwitterWhatsAppEmail分享 Thiago Messi has shown that he could certainly be the ‘next Messi’ with a brilliant goal for Barcelona’s youth team. Promoted Content10 Hyper-Realistic 3D Street Art By OdeithYou’ve Only Seen Such Colorful Hairdos In A Handful Of AnimeThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreThe Biggest Cities In The World So Far7 Truly Incredible Facts About Black Holes6 Mysterious Things You Do Not Know About ChinaThe Models Of Paintings Whom The Artists Were Madly In Love With8 Superfoods For Growing Hair Back And Stimulating Its GrowthSome Impressive And Almost Shocking Robots That Exist7 Black Hole Facts That Will Change Your View Of The Universe7 Mind-Boggling Facts About Black HolesBirds Enjoy Living In A Gallery Space Created For Themlast_img read more

Giroud appeal rejected

first_img The France international was dismissed by referee Andre Marriner in the final minute of Saturday’s 1-0 win at Craven Cottage for jumping into a challenge with defender Stanislav Manolev. The Gunners appealed but the FA have upheld the sending off, so Giroud will now miss three of the final four matches of the Barclays Premier League season – starting against Manchester United on Sunday. A statement from the FA read: “Following a Regulatory Commission hearing today, Arsenal’s Olivier Giroud has had his claim for wrongful dismissal rejected. “Giroud was dismissed for serious foul play during his side’s game against Fulham at Craven Cottage on Saturday 20 April 2013. “The player’s three-match suspension will therefore commence with immediate effect.” The loss of Giroud is certainly a blow to Arsene Wenger’s squad as they look to lockdown Champions League qualification, the £13million summer signing from Montpellier having scored 17 goals. Arsenal retain a slender one-point lead over fourth-placed Chelsea and are two ahead of north London rivals Tottenham, albeit having played a match more. Gunners boss Wenger will now have to rethink his attacking options for crucial games against United, then at QPR and home to Wigan before Giroud will be eligible again on the final day at Newcastle. Theo Walcott is one option for a central striker, and is currently leading scorer with 18, while German international Lukas Podolski is another who has been pressing for a start down the middle, looking to add to a tally of 14. Arsenal striker Olivier Giroud must serve a three-match suspension after the Football Association rejected his claim of wrongful dismissal for a red card at Fulham.center_img Press Associationlast_img read more

Defending champs eager to get back on the court

first_imgAfter a long hiatus, the USC men’s tennis team is ready to take the courts today in Tulsa, Okla. for the All-American Championships tournament.“It’s been kind of a long layoff so it feels good to get back and play matches,” sophomore Steve Johnson said.Even better · Senior Robert Farah received an automatic bid to what will be his final All-American Championships tournament. – Eric Wolfe | Daily TrojanThe tournament involves singles and doubles rounds, but no team competition. To qualify, a player must be previously ranked by the Intercollegiate Tennis Association. The top 44 singles teams and 21 doubles teams automatically qualify for the main draw.For the Trojans, No. 3 senior Robert Farah and No. 18 Johnson received automatic qualifying bids in singles. The No. 3 pair received an automatic bid in doubles as well.“It’s the last year I’ll be able to play this tournament so I want to finish my All-American college career on good terms,” Farah said.There is, however, another opportunity for singles and doubles players to qualify for the main draw. Starting Monday, the University of Tulsa held the All-American qualifying rounds, which gave 128 additional singles players an opportunity to qualify for the main draw, with 16 players receiving a bid. On the doubles side, 64 teams participated in the qualifying tournament, with eight moving on to the main draw.Yesterday, No. 99 sophomore Matt Kecki and No. 49 junior Jaak Poldma earned a spot in the singles main draw after defeating their respective opponents.Poldma defeated Andrew Crone of North Carolina in the first round 7-5, 6-4. He then defeated Nebraska’s Calin Paar 6-3, 6-4 in the second round, and secured his entry in the main draw with a smooth 6-3, 6-2 victory over Tucker Vorster of Ole Miss.Kecki narrowly escaped the first round with a 6-2, 4-6, 6-4 victory over Ohio State’s Devin McCarthy. In round two he handily defeated Michigan’s Evan King 6-3, 6-1 and made things look even easier in the third round with a 6-2, 6-1 victory over Adrian Forberg of Ole Miss.Sophomore Daniel Nguyen was eliminated in the third round; Freshman JT Sundling and senior Jason McNaughton were eliminated in the first round.“Jaak and Kecki both played great and I really think D. Nguyen could have won [Wednesday],” USC coach Peter Smith said. “He’s a lot stronger than last year.”Kecki and Poldma also received an entry in the doubles main draw after a team withdrew from the tournament. They were set to play in the final qualifying match Wednesday afternoon when they received the news.A combination of this week’s success and previous rankings has earned four Trojans spots in today’s tournament, an impressive feat according to Smith.“It’s a great showing to have four guys in the main draw,” Smith said. “It’s basically made up of the top 64 players in the country and to have four of our guys in that top 64 says a lot.”The players are also confident in their ability to perform well this week.“I’ve done well at this tournament the last two years so I’m going to go out there and do my best,” Farah said. “My goal is to win the tournament.”His doubles partner, Johnson, agreed.“I’d like to do well and win a bunch of matches so I can look forward to what’s on tap next for us,” Johnson said.Farah and Johnson also expect to have success as a doubles team.“Our chance of winning has gotta be good,” Johnson said. “We’re playing much better because I was new last year and had some things to work on, but I feel like we have a good chance to do really well.”Overall, Smith said the national championship team has a different air about them than teams in previous years.“The team really has a really positive energy that goes above and beyond other teams I’ve coached in the fall,” Smith said.Being the national champs may make the Trojans a target for other players even though it is not a team tournament.“Everyone wants to beat us even though it’s not a team event,” Johnson said.last_img read more