Public donations for COVID-19 task force in Indonesia top Rp 66.5b

first_imgAmid the spread of COVID-19 in Indonesia, the government’s rapid-response task force has received a total of more than Rp 66.5 billion (US$4 million) in cash donated from the public.Government spokesperson for COVID-19-related matters Achmad Yurianto expressed his gratitude toward the public on behalf of the task force.“We are grateful that the community, both as individuals and groups, has donated more than Rp 66.5 billion to date to the COVID-19 task force’s account in order to deal with this problem comprehensively,” Yurianto said at a press conference on Wednesday. At Tuesday’s conference, he also said that donations pooled in the National Disaster Mitigation Agency’s (BNPB) COVID-19 volunteer desk reached Rp 40 billion, adding that the donations would be used responsibly and reports on their use would be posted on the task force’s and agency’s respective websites.Notably, conglomerate company Bakrie Group donated Rp 20 billion to the task force on Monday. On March 23 coal producer PT Adaro Energy also announced that it was donating Rp 20 billion to the BNPB.On March 24, the Indonesian Chamber of Commerce and Industry (Kadin) pooled more than Rp 300 billion from its members, with the funds channeled directly to the BNPB, the COVID-19 rapid-response team, the Indonesian Red Cross (PMI) and the Health Ministry.Indonesian artists and celebrities collected about Rp 11.5 billion in donations through a virtual concert called #dirumahaja as of Tuesday through the crowdfunding site Kitabisa.com. Media company Narasi, which organized the concert, said that it would distribute the raised money independently, including to charity organizations.In the press conference, Yurianto also said that the country recorded 1,677 cases of COVID-19 as of Wednesday with 157 fatalities and 103 recoveries, affecting 32 out of 34 provinces.He also said that the government had distributed around 475,200 rapid test kits to every provincial health office for early detection and contact tracing, adding that it also had distributed 349,000 pieces of personal protective equipment for medical workers across the country.Topics :last_img read more

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South Yorkshire hires Schroders for £2.6bn equity protection mandate

first_imgEquity protection strategies are becoming increasingly common among funds within the Local Government Pension Scheme (LGPS) as volatility returns to the markets.In May this year, River & Mercantile Derivatives won a £1.2bn structured equity protection mandate from the £2.5bn Worcestershire County Council pension fund.Schroders has implemented what is known as a “put spread collar” approach, which combines equity investment with a mixture of puts and calls, thereby allowing the manager to gain upside exposure but dampen downside risk.“The rise in equity markets in recent years presents South Yorkshire, in common with many pension funds, with a new set of challenges to reduce the risk of negative market impacts while maintaining a focus on growth,” said George Graham, fund director of the £7.9bn SYPA. “This solution helps us achieve this in a cost-effective and transparent way.”The deal – thought to be one of the largest involving an LGPS fund – included setting up a bespoke pooled fund to help cut SYPA’s administrative and governance needs, Schroders said. A spokesperson for the investment manager said the company would seek to execute similar strategies for other LGPS funds.SYPA is a member of the 12-strong pool of pension funds that have formed the Border to Coast Pensions Partnership, itself one of eight pools established by members of the LGPS in England and Wales. The South Yorkshire Pensions Authority (SYPA) has implemented a £2.6bn (€3bn) equity risk management strategy with Schroders, designed to insulate the UK public sector fund against a potential equity market downturn.Schroders said the transaction aimed to both minimise overall costs and provide as “much upside potential as possible for SYPA”.The £450bn investment manager declined to comment on a more detailed breakdown of those costs.“The scope and complexity of this mandate emphasises the commitment of Schroders’ Portfolio Solutions team to work with clients to deliver bespoke strategies in order to meet their investment needs,” added Andrew Connell, head of the company’s portfolio solutions group.   last_img read more

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Special event, Super Nationals awards in TomCat’s IMCA contingency plans for 2016

first_imgMOORESVILLE, N.C. – Special event and Super Nationals awards comprise the TomCat Performance IMCA contingency program again this season.Feature winners at 80 designated specials, covering all eight sanctioned divisions, and Modified heat winners at the IMCA Speedway Motors Super Nationals fueled by Casey’s will receive quick disconnect throttle rod assemblies.Certificates will be mailed from the IMCA home office after special results are received, and beginning the week after the Sept. 5-10 Super Nationals.A six-year IMCA marketing partner, TomCat Performance is the wholesale division and inhouse brand of Carolina Racing Supply in Mooresville, N.C.“TomCat has been a big proponent of providing racers with quality products and we’ll help facilitate that again this year with their throttle linkages,” promised IMCA Marketing Director Kevin Yoder. “Winning a big race is a great accomplishment and the TomCat program helps recognize that.”More information is available by calling Carolina Racing Supply at 704 662-8299, on Facebook and at the www.carolinaracingsupply.com website.last_img read more

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