Report: No justification for lack of full disclosure on investment fees

first_imgAsset managers hide more than four-fifths of costs, with no reasonable justification given for why full disclosure is not being provided, a think tank has claimed.Research published by The Pensions Institute, part of the Cass Business School in London, found that visible costs from asset managers only account for 18% of the total cost borne by investors.The remaining hidden costs include the bid/ask spread, transaction costs, undisclosed revenue and other market-implied costs during transactions.The Institute said that, even where asset managers aimed to increase cost disclosure, there remained hidden costs, and that full-disclosure was paramount. “These are the indirect transaction costs for which investors pay via lower net returns,” the report said.It said all good investment managers should have an estimate of the size for cash-costs relating to the efficiency of the investment management, such as commissions, taxes, bid/ask spread costs, transaction costs and undisclosed revenue.The Institute did accept that non-cash costs, still borne by the investor through lower returns, would be more difficult. These costs include market impact, information leakage, market exposure and missed trade opportunities.However, it did argue specialist advisers could obtain this information for investment managers, allowing them to disclose the impact to investors.With regards to the cash-costs, managers argued the IT systems required to provide full disclosure would be expensive to implement.But the Institute rejected this point.For non-cash costs, it suggested configuring fund manager systems to generate similar information as can currently be provided, or periodic audits by consultants.David Blake, author of the study and director at The Pensions Institute, said: “I would argue the principle of full transparency is paramount. Further, there is little point in requiring transparency where the reported measure for ‘costs’ does not include all of the costs, or, in the short term, as many as could currently be reported on a cost-effective basis.”He added: “No good reasons have been put forward for why all the costs of investment management, both visible and hidden, should not ultimately be fully disclosed. They are, after all, genuine costs borne by the investor.”The Investment Management Association (IMA), a lobby group for fund managers, argued it had already set out plans to increase transparency, including replacing the annual management charge and having a more basic charge structure.Daniel Godfrey, chief executive of the IMA, said: “The third stage is to look further at how to account for indirect costs, and also to reach a consistent basis for the calculation and disclosure of portfolio turnover rates so clients can better understand the relevant investment processes.”However, the True & Fair Campaign, which champions fee transparency, hit back at the IMA and said these were excuses for delay.Co-founder of the campaign, Gina Miller, said: “This research proves the latest attempt to disclose all costs by the IMA, whilst dulcet in tone, is a pure farce.“The IMA must act immediately to stop the abuse of people’s hard earned money and must interrogate and audit existing proposals and bring in total fee transparency by the end of this year.”The report also argued that costs, which are provided to clients, may not be as simple as they look, such as declared commission on the purchase of assets.“Investment managers often get ‘free’ services in exchange for this commission, such as broker research, market data or corporate access (to company managers),” the report said.“But these ‘free’ services are actually paid for by the client. Investment managers frequently aggregate different clients’ trades to get the best price.“The aggregated trades will go through a particular broker, which means some of these clients will be indirectly paying for research from which they get no benefit.”last_img read more

Happening Now: Adult Education Division Bookmas

first_img Sharing is caring! Share 91 Views   no discussions Share Sharecenter_img EducationLifestyleLocalNews Happening Now: Adult Education Division Bookmas by: – December 20, 2019 Tweet The Adult Education Division is holding its second free book fair today to promote literacy among adults.The event began at 10am and runs until 5:pm.Patrons can select any book(s) of their choice for free.Any remaining books will be available for free on Monday and Tuesday.last_img

WTO AGAIN: Antigua hints at taking the United States back to WTO

first_img Sharing is caring! Share WASHINGTON, CMC – Antigua’s American-born legal counsel in World Trade Organization (WTO) matters, Mark Mendel, says the United States may have opened itself up to a new challenge when it shut down certain offshore Internet gambling sites last Friday.“The WTO ruled that these kinds of laws criminalizing the provision of remote gaming services are contrary to the obligations of the United States under the WTO agreements,” said Mendel, in a statement issued here.“The United States, being a very heavy user of the WTO rules to its own benefit, simply cannot continue to prosecute persons for engaging in legitimate international commerce,” he added.“Given the time that has been spent by the Antiguan government on sincere attempts to negotiate a reasonable settlement with the United States, and the very eager results that have come of those discussions, it might be time for Antigua to go back to the WTO and compel American compliance with the rulings that this very small country fought so hard for and deserves to see implemented,” he continued.Observing recent initiatives to authorize remote gaming in various American states and the proliferation of state-sanctioned gambling in America generally, Mendel said “what the United States has attempted to cloak as a moral issue is now clearly nothing but economic protectionism at its worst.“Rather than engaging with Antigua and the world gaming community to reach a reasonable accommodation on this relatively new but now globalised form of economic commerce, the United States has instead determined to protect its domestic gaming interests regardless of international legal obligations,” he said.“This is very hard to reconcile not only with its pronouncements regarding the imperative of other countries to strictly observe their WTO trade obligations but also with stated official United States government policy of adherence to the rule of law,” he added.Antiguan officials, who license Absolute Poker, among other Internet gambling companies, say they are considering bringing an action against the US before the WTO for discriminatory trade practices.Reacting to last week’s indictments of a number of individuals allegedly behind prominent Internet poker operators, the Antigua Minister for Finance and the Economy, Harold Lovell, expressed disappointment in the latest effort by US authorities.“I am concerned that, at this point in time, United States authorities continue to prosecute non-domestic suppliers of remote gaming services in clear contravention of International law,” he said.“I am not aware of any other situation where a member of the World Trade Organization has subjected persons to criminal prosecution under circumstances where the WTO has expressly ruled that to do so is in breach of an international treaty,” he added.Having won a “hard-fought dispute” at the WTO against the United States some years ago over laws criminalizing the provision of remote gaming services to American consumers, Lovell said Antigua has spent “considerable time and effort trying to reach a compromise with American authorities.”He said this effort is aimed at recognizing the legitimacy conferred by the WTO judgment with respect to Antiguan remote gaming services, while addressing any “material concerns United States authorities might have regarding the provision of these services from abroad.”The Antiguan finance minister said last weeks’ indictments would “seem to indicate that the United States is still unwilling or unable to tackle the issue of offshore remote gaming services in a mature and legally compliant fashion.“At this time, we are examining all of the options we have against the United States as a result of the WTO decision,” he said.“We are confident that the WTO rulings have significant strength, and we are now looking into ways to capitalize on that in order to achieve our objectives,” Lovell added.In 2005, the WTO ruled that the US had violated international trade agreements by prohibiting operation of offshore Internet gambling sites. Antigua claimed that it has lost US$3.4 billion a year due to the US action, but the WTO ultimately awarded US$21 million in damages against the US. Share Tweetcenter_img NewsRegional WTO AGAIN: Antigua hints at taking the United States back to WTO by: – April 25, 2011 19 Views   no discussions Sharelast_img read more

Tigbauan’s No. 10 most wanted person nabbed

first_imgAccording to the police, the suspectcommitted the crime in Tigbauan and left his place to hide in Balasan. The 38-year-old Noriel Navarro wasarrested around 1 p.m. on April 11, a police report showed. The court recommended a P200,000 bailbond for his temporary liberty./PN ILOILO City – He was listed as the No.10 most wanted person at the municipal police station of Balasan, Iloilo.  His apprehension was staged on thestrength of an arrest warrant issued by Judge Rene Banzuela-Didulo of the RegionalTrial Court Branch 67. Navarro was detained in the lockup cellof the Balasan police station. Navarro – resident of Barangay NapnapanSur, Tigbauan, Iloilo – was facing rape charges. last_img

Munster keep pressure on leaders

first_imgMunster closed the gap on Guinness PRO12 leaders Glasgow with a 34-3 victory in a one-sided game against Edinburgh at Murrayfield, gaining a much-needed try bonus point in the process. Tries from Duncan Casey, CJ Stander, Conor Murray, Simon Zebo and Keith Earls, along with nine points from the boot of Ian Keatley were enough to secure the victory and ensure they rose to second in the table. In reply, Edinburgh could only muster a sole penalty from stand-off Tom Heathcote. The hosts who made the greater impression in the opening stages, stringing together a series of phases that displayed real attacking intent. Press Association The try bonus point was secured in controversial fashion, when the TMO adjudged Zebo to have touched down despite appearing to have had minimal downward pressure on the ball, having chased down his own kick. Keatley was once again off target with the conversion. Further gloss was added to the scoreline when Earls capitalised on a mistake in the Edinburgh ranks to snap up a loose ball and squeeze over from close range. Keatley added the touchline conversion to conclude the scoring, rounding off a clinical display from Munster as they look to secure a home semi-final in the end of season play-offs. That early tenacity was rewarded when Munster were penalised at the breakdown and fly-half Heathcote converted the resulting penalty. However, that was as good as it got for Edinburgh. Keatley responded with an early penalty of his own, knocking over a 25-metre effort after Edinburgh replacement Tomas Leonardi had strayed offside at the ruck. And it was Munster who deservedly notched the first try of the game, their bold decision to kick to the corner from a penalty within the Edinburgh 22 paying dividends. Line-out ball was secured and the rolling maul rumbled over, allowing hooker Casey to touchdown. Keatley added the extras from wide on the touchline to give his side a seven-point advantage at the half-time interval. The visitors began the second period at a visibly higher tempo and stretched their advantage with a try that mirrored their earlier score. Once again, attacking line-out ball led to the formation of a dynamic rolling maul, and number 8 Stander was on hand to dot the ball down. Keatley was off the mark with his conversion effort. Munster continued their march towards an emphatic victory with a third score, through scrum-half Murray. With Edinburgh a man down after Tim Visser had been sin-binned for slowing down the ball, Murray sneaked down the blindside from the back of yet another driving maul. The Irish international then succeeded in fending off the challenge of Ross Ford before crashing over in the corner for a score converted by Keatley. last_img read more

Old Town downs Ellsworth

first_img GSA surges in 4th to win Northern Maine title – February 26, 2017 Bio Like he did in the ’60s, Noel Paul Stookey sings out in troubling times – December 27, 2017 Hugh BowdenExecutive EditorHugh writes editorials, covers Hancock County sports and helps out where needed in The American’s editorial department. When he’s not on the sidelines, he enjoys playing jazz and tennis. hbowden@ellsworthamerican.com Latest posts by Hugh Bowden (see all)center_img Is this the kind of government we deserve? – July 10, 2017 The Old Town Coyotes erupted for six runs in the second inning and made that lead stand up in an 8-4 win over the Ellsworth Eagles on Wednesday, May 7, in Old Town.The Eagles matched the Coyotes in hits with nine, but had to settle for single runs in each of four innings.Brandon Braley had a pair of doubles, Sid St. Peter singled twice and drove in two runs, Mitch Domagala doubled and Steve Mahon had a pair of singles for the Eagles.Righthander Conor Maguire went six innings on the mound for Ellsworth, striking out eight, and Nick Bagley pitched an inning in relief.This is placeholder textThis is placeholder textEric Hoogterp got the complete game win for the Coyotes, striking out six batters.Find in-depth coverage of local news in The Ellsworth American. Subscribe digitally or in print. Latest Postslast_img read more

Yuvraj Singh Suffers From Unusual Dismissal in Debut GT20 Game

first_imgOntario: Former India all-rounder Yuvraj Singh had an unforgettable debut at the Global T20 League. Yuvraj, who was playing his first match after retirement on Thursday, struggled with lower back pain before being dismissed in bizarre fashion in a match between Toronto Nationals and Vancouver Knights.The stylish left-hander, leading Toronto Nationals, scored just 14 runs off 27 balls as he looked in discomfort due to his back during the course of his innings. While his inning was nowhere compared to the typical Yuvraj inning which one usually associates with him, the manner in which he got out was even stranger. In trying to up the ante, the 37-year-old attempted a slog off medium-pacer Rizwan Cheema. However, the ball took his outside edge and went to the wicketkeeper, who could not hold on to the catch.The ball deflected off the keeper’s gloves and hit the stumps. Yuvraj walked off thinking he was out — stumped but his leg was well inside. However, replays showed that at the moment when the ball struck the bails, Yuvraj’s feet were well inside his crease and it was only afterward that his feet left the crease. However, the square-leg umpire had raised his finger. IANSAlso Read: Yuvraj Singh To Rishabh Pant’s Rescue As Kevin Pietersen Slams His ‘Pathetic’ Dismissallast_img read more

The Latest: NFL going virtual for upcoming draft

first_imgThe reduction is equal to four months of salary but would be reduced to only two months if the current season is completed.The league adds “it remains understood that the clubs will define the agreements directly with their members.”Serie A has been suspended since the government ordered a nationwide lockdown nearly a month ago. Twelve rounds remain along with four games that were postponed from the weekend of Feb. 22. The Italian Cup semifinals also were interrupted after the first leg.At least 15 players have tested positive for COVID-19.___ In a memo sent to the 32 teams, NFL Commissioner Roger Goodell outlined procedures for the April 23-25 draft. The guidelines include no group gatherings.“We have reviewed this matter in the past few days with both the competition committee and CEC (a group of league executives),” Goodell said, “and this will confirm that clubs will conduct their draft operations remotely, with club personnel separately located in their homes.”The draft originally was scheduled to be held in Las Vegas, but the NFL canceled all public events last month as a safeguard against the coronavirus.___The heads of the ATP and WTA professional tennis tours tell the AP that they are coordinating with each other as they weigh how to reschedule the sport’s calendar for whenever play can resume after the COVID-19 pandemic. The NFL is planning a telethon to aid coronavirus relief efforts during the draft from April 23-25, according to two people familiar with the league’s plans.The people tell The Associated Press that the league hopes its massive reach will raise awareness and funds in battling the pandemic. They spoke to the AP on condition of anonymity because the telethon has not been announced publicly.Details on conducting the telethon and charities that will benefit will be released soon.Since the NFL’s business year began on March 18, the league has conducted free agency even as team facilities have been shut down and travel has been barred. Its biggest offseason event is the draft, which was scheduled for Las Vegas but now will be done remotely, with ESPN and NFL Network televising the proceedings.— Reporting by AP Pro Football Writer Barry Wilner ___The mother of Manchester City manager Pep Guardiola has died after contracting the coronavirus.The Premier League club says Dolors Sala Carrió died near Barcelona in the city of Manresa. She was 82.City says “everyone associated with the club sends their most heartfelt sympathy at this most distressing time to Pep, his family and all their friends.”Guardiola has coached City since 2016. He previously coached Barcelona and Bayern Munich. Spain is expected to remain in a nationwide lockdown because of the coronavirus pandemic until April 26. The country has more than 135,000 confirmed cases of the new virus with more than 13,000 deaths.Smolov wrote on Instagram that because of the closure of borders “I have found myself obligated to return to Russia to be closer to my family.”Smolov says he is “very grateful to Celta for its support and I want to emphasize that I informed the club about every step.”Spanish media reported the 30-year-old Smolov flew home on a private jet for the 18th birthday of Maria Yumasheva. She is the granddaughter of former Russian President Boris Yeltsin. Smolov published photos on Instagram in January showing him and Yumasheva together on vacation. ___ Formula One race team ROKiT Williams Racing is putting an unspecified number of employees on furlough through the end of May.The team also announced senior management officials and the team’s two drivers, Carlos Sainz of Spain and Lando Norris of Britain, have taken a 20% pay cut that began April 1.“These decisions have not been taken lightly,” the team’s statement read. “However, our aim is to protect the jobs of our staff at Grove (the team headquarters) and ensuring they can return to full-time work when the situation allows.”The move follows a similar announcement last week by McLaren’s F1 team.___ ___The Italian soccer players’ association has rejected a proposal from Serie A clubs to reduce salaries by a third if the season does not resume as “shameful and unmanageable.”Serie A said earlier that the guideline measure was agreed on by 19 of the 20 clubs. Juventus already reached a similar deal with its players.The reduction would be equal to four months of salary but would be reduced to only two months if the season is completed.Players’ association vice president Umberto Calcagno says in Gazzetta dello Sport that Serie A’s proposal makes “clear the intention to make only the players pay for the eventual damages from the crisis.” Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___The NFL draft will be conducted in a virtual format, with team personnel working from their homes. April 6, 2020 The list of players who will “compete” will be released later.The Madrid Open was supposed to be played May 1-10, but the entire European clay circuit was abandoned by the ATP and WTA. Both tours are suspended until at least July 13.Wimbledon was canceled entirely for 2020, while the French Open has been postponed from May until September.___Houston Astros pitcher Joe Smith and his wife, TNT sideline reporter Allie LaForce, have started a program to donate meals to medical workers in Ohio and Texas hospitals during the global COVID-19 pandemic. The Latest: NFL going virtual for upcoming draft Associated Press ___Celta Vigo forward Fedor Smolov has left his confinement in Spain to be closer to his family back home in Russia.Smolov says he informed the Spanish club of his plan and had its support. The club says the player “repeatedly requested permission to travel to Russia for a personal matter” but “the Spanish league did not authorize it.” Celta says Smolov reported his whereabouts and was committed to return after the personal issues were resolved. It says Smolov would still be subjected to possible penalties for breaking the club’s internal regulations. Moore says the club still wants to “ensure the entire workforce is given as much protection as possible from redundancy and/or loss of earnings during this unprecedented period” but is now seeking “alternative ways to operate while there are no football matches.”Liverpool leads the league with 25 points and nine games to go in a season that has been indefinitely suspended.Moore says “despite the fact we were in a healthy position prior to this crisis, our revenues have been shut off, yet our outgoings remain.”___Manchester United has told staff they will all remain on full pay without any of them being furloughed during the coronavirus pandemic.center_img Chicago’s eight pro teams and mayor Lori Lightfoot are teaming up to encourage residents to stay home to help prevent the spread of the COVID-19 virus.The Bears, Blackhawks, Bulls, Cubs and White Sox as well as the WNBA’s Sky, MLS’ Fire and National Women’s Soccer League’s Red Stars are joining with the mayor in the “We Are Not Playing” campaign to promote compliance with Illinois’ stay at home order.The initiative will kick off with billboards around Chicago and digital and social media advertisements. Player videos will come online in the next phase.“I am grateful to each of our hometown teams for stepping up and doing their part by joining in this call for every neighborhood and community,” Lightfoot said in a statement. “They’re not playing, and neither are we. The more we stay home and act responsibly, the more lives we’ll save, and the sooner we’ll be able to get our city back on track and enjoying the games we love.”___ ___The Indianapolis Colts and Indiana Pacers have issued a challenge to area residents: Raise $200,000 for the city’s 12 community centers by noon Thursday and the two professional teams will kick in an extra $420,000.The community centers are helping to feed, support and care for vulnerable residents during the current COVID-19 pandemic.“There is no more important time to strengthen them, and we are encouraging everyone who can to chip in. We thank our friends at the Colts and are proud to join them in supporting our neighbors,” Pacers Sports & Entertainment president Rick Fuson said.The announcement comes one day after Colts owner Jim Irsay donated more than 10,000 of the hard-to-find N-95 masks to the Indiana State Department of Health for health care workers. ___Serie A says it has unanimously decided to reduce player salaries by a third if the season does not resume.The Italian soccer players’ association has not yet signed off on the deal.The league says in a statement that the guideline measure was agreed on by 19 of the 20 clubs. Juventus already reached a similar deal with its players.The league says the agreement is “a common line of action to contain” salaries for “players, coaches and members of first squads.” Premier League rival Tottenham has faced criticism for placing some non-playing staff on a scheme that sees the government fund wages.United emailed its full-time staff on Monday morning and encouraged them to volunteer for the National Health Service or in their communities if their workload has been reduced or they cannot work from home due to the COVID-19 outbreak.For around 950 non-match-day, part-time workers, United is covering their average weekly pay based on hours worked between December and February. That commitment has been extended from the end of April until June 1.United is also paying around 3,000 part-time match-day personnel for the remaining Premier League games they would have worked this season.The season has been on hold since last month. No date has been set for the resumption of games. Washington Capitals coach Todd Reirden says he and his family are taking special precautions amid the new coronavirus pandemic because 17-year-old son Travis has a common variable immune deficiency.“We’ve really had to be careful about what we’re bringing into the house and not leaving and making sure that if we do go out and do something, that we basically leave all of our clothes at the door and make sure that they get washed and wash our hands and make sure we’re really making the right choices because it can get scary for someone like him,” Reirden said Monday.Reirden says his family opted to stop having a nurse come to the house and give Travis plasma treatments for multiple reasons. He says his son didn’t want a nurse taking up four to six hours a trip when that time could be better used to treat patients with more urgent needs, and the family thought it better not to have another person in the house.Travis was out of school earlier this year because of the flu, and his parents continued to hold him out when COVID-19 became a serious concern. A doctor visit in mid-March before the NHL season was suspended turned up positive bloodwork and gave the Reirdens enough confidence that Travis was in a good spot healthwise.They continue to monitor the situation. ___Boston Celtics forward Jayson Tatum and Washington Wizards guard Bradley Beal are each pledging $250,000 to help provide meals for those affected by the coronavirus pandemic in Boston and St. Louis. Tatum made the announcement on Instagram.The pledges will benefit Feeding America, the St. Louis Food Bank and Greater Boston Food Bank. Both Tatum and Beal are natives of St. Louis. “Just trying to find a way where I could be of some assistance during this time and always find a way to give back,” Tatum said during a conference call on Monday. ___Liverpool will no longer use a government scheme to furlough some non-playing staff after a backlash against the use of public cash by the wealthy European champions.Liverpool chief executive Peter Moore says “we believe we came to the wrong conclusion last week to announce that we intended to apply to the Coronavirus Retention Scheme and furlough staff due to the suspension of the Premier League football calendar, and are truly sorry for that.”Under a job retention scheme implemented to help businesses survive the national lockdown, staff can be put on furlough and receive 80% of their salaries from the government, up to a maximum of 2,500 pounds ($3,000) a month.Liverpool had said it would top up salaries to ensure staff still received the full amount, but that still means using public funds to pay some staff. “We are really on top of him and how he is feeling and right now,” Todd said.___The 2020 Madrid Open, one of more than 30 professional tournaments canceled or postponed because of the novel coronavirus, is going to be contested April 27-30 by tennis players holding controllers instead of rackets.The clay-court tournament on Monday announced its plan to go virtual, saying it will involve “the world’s biggest tennis stars squaring off from their own homes.”There will be 150,000 euros (about $160,000) in prize money each for the men’s and women’s events, with the winners deciding how much they want to donate to tennis players who are having a hard time financially without any tournaments to enter. An additional 50,000 euros (about $55,000) will be given to reduce the social impact of the pandemic. The hypotheticals include extending the season beyond November by moving tournaments that already have been postponed to dates later in the year.As of now, both tours have suspended play until at least July 13 because of the novel coronavirus outbreak.Wimbledon, which is run by the All England Club, was canceled for the first time since 1945.WTA Chairman Steve Simon says the women’s tour is “considering an extension to the current 44-week season to enable more tournaments to take place” in order to “maximize earning possibilities” for players left without the possibility of earning income by competing.ATP Chairman Andrea Gaudenzi says the men’s tour is working “with the aim of rescheduling as many tournaments as possible.” Through Project FRONTLINE the couple is funding the first 250 meals, which will be delivered to Mercy Hospital in Lorain, Ohio, on Wednesday. Another 300-500 meals are going to Harris Health in Houston on Tuesday.LaForce said over the phone from Florida that former Browns Pro Bowl tackle Joe Thomas has donated and the couple has been in contact with Cavaliers forwards Kevin Love and Larry Nance Jr. about expanding the program.Smith and LaForce are both Ohio natives.“We’re hoping people can kick in anything, $10 or $20, for a cause to help people who are putting their lives on the line every single day,” LaForce said.___ FIFA is providing global coordination with competition organizers to provide flexibility to ensure coronavirus-derailed seasons can be completed with as little financial turmoil as possible.FIFA does not set the dates of domestic or continental club competitions but does oversee the implementation of two transfer windows during the year.A FIFA task force has been exploring the impact of the coronavirus pandemic and has backed flexibility in shifting the transfer windows and extending player contracts to allow seasons to be completed.A final decision will be made by the FIFA Bureau. That body includes the presidents of the six regional confederations.UEFA has already determined that competitions in Europe can run beyond the June 30 cut-off for player contracts. Cost-cutting is underway at many clubs and federations to deal with the financial impact of games not being played.___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6last_img read more

Pele F. C Alumni Corp. cancels 2020 Youth Development Seminar

first_img…Re-doubling of efforts for Pele FC 50th Anniversary in 2021 LIKE so many other events – sporting, educational and otherwise – the 2020 edition of the Pele Alumni Corporation’s Youth Development Seminar in Guyana has been postponed due to the COVID-19 pandemic.The destabilising effects of this novel virus has rocked the world in every corner and at every level, from first world to third world.According to two Pele Football Club Alumni Directors, Patrick ‘Labba’ Barton and Dennis Ivor Carrington, plans were already underway but not too advanced for this year’s activity but had to be cancelled for one year due to the coronavirus which has locked the planet down.“We have made the decision to cancel our 2020 Youth Development Seminar due to the COVID-19 pandemic. Our plans for our July 2021 , Pele Football Club 50th Anniversary celebration continues in conjunction with the 2021 Youth Development Seminar,” both Barton and Carrington informed.They also indicated that while many would be disappointed that the programme will not come off this year, “All can be assured that next year’s edition, which would be the fourth such programme, would be even more exciting as it would coincide with the Pele FC 50th anniversary.”The annual two-day Educational Development Programme targets young players (male and female) and is aimed at empowering them to overcome poverty by building their confidence, self-esteem and ambition, through the power of sports and education.Seven years prior to 2019, the Pele FC Alumni Corporation made a huge impact on the Guyanese community with its sponsorship of annual youth soccer/educational tournaments.But after a review, the Directors of the entity decided to change focus by providing educational opportunities for youth soccer players primarily, who are in need of non-cash support as they pursue their academic endeavors. Players from other sports have also been included.Over 100 students benefitted last year with over 10 laptops being among the many educational materials distributed during the two-day programme, which was held at the St. Joseph’s High School. They participants were also taken on educational tours to the Parliament of Guyana and Banks DIH, Thirst Park operations.Carrington reiterated that the goal of the annual Youth Development Programme is to teach adolescents the right skills while enabling them to understand the requirements and responsibilities considered necessary in preparation for life and living after high school, while incorporating the capability and independence to care for themselves.last_img read more

Rohr: Super Eagles Job, Most Challenging in My Coaching Career

first_imgMany pundits see you as a  very humble coach with several working experience. Which of your past and present jobs appears most challenging so far in your career?My coaching career has been full of ups and downs right from time as club coach with the likes of Bordeaux  when the club was going down and eventually relegated and the battle to return was a fierce one. I have players like Didier Deschamp, Lizarazu and so on and I had to bring the club from relegation to the elite division and same thing with Nice. However, my biggest challenge as national team coach is thw Super Eagles job in Nigeria. Here, I met a team that was yet to play at a major tournament after missing out at two African Cup of Nations tournaments and  we were grouped to play in one of the toughest groups in the World Cup qualifying series and as we would have it, we found ourselves in the Group of Death again  in Russia. However, the challenges are not over now  as we prepare to go to the Nations Cup next year Cameroon.Going to the World Cup last summer, your team was adjudged one of the youngest in the pool and we seem to be going on the same trend going to the Nations Cup next year in Cameroon. Do you think the team is too young to win AFCON 2019?I don’t agree that when you have a young team, you are at disadvantage but I must tell that we have learnt a lot from the World Cup especially in the match against Argentina when we conceded a late goal and it was same mistake against South Africa last week. We will continue to work on that so we hold on any form of slim advantage. Because of this, our team is still open to a lot of changes especially in the defense and midfield. We will still try other players using the last qualifying match against Seychelles and also exploit the FIFA Windows to ensure that we maximize all our potentials going to the Nations Cup next year in Cameroon.What was going through your mind when two legitimate goals were disallowed in South Africa and why did you play Samuel Kalu on the right side of the defence? First I could not judged the legitimacy of the goals from the position I was during the match and it was from the  play-back on television that I knew that we were denied legitimate goals. However, the referees are human too and this explains why Visual Assistant Referee (VAR) will help a lot during crucial goal decisions. But you must now that Ahmed Musa may have been too fast with the pace for the assistant referee to pick the offside call. Although our intension was to win the match and top the group, the result still put Nigeria in front foot, hence we must ensure that we win the last match at home to place too after the series. As for your second question, I saw Kalu play in that role for Bordood. They bought him for €8million and play that role very well and was a replacement for Simon Moses whom unfortunately was injured before the World Cup and we have to draft Kalu into his position. He is a good striker but at the same time a good defender with a lot of pace. He can defend on the lines and at same run the flank. This explains why we are playing 3-5-2 which was the role Victor Moses played against Iceland at the World Cup it requires a lot of commitment. What this means is that in different match tactics we have different players.From your response, it seems you are quick to allow the mistake in South Africa to go unnoticed may be because the result had no negative impact to the progress of the team but at the last World Cup finals in Russia, you criticised the referee for denial of a second penalty for Nigeria against Argentina in the last group match. How do we reconcile this especially the complexity in the application of the rules of the game?Point of correction, I was only bitter internally and not outward as a result of the match especially as regards the denial of the second penalty kick. Everybody saw that it was a handball and a similar way the world champion, France got similar opportunity and it was given. Don’t forget there are undercover influences when a situation like this arise on the field. Even in the communication rooms, it’s possible they influence him not to give the second penalty and don’t forget there are lots of Argentine fans in the stadium just as big players like Messi, Aguero trying to influence the match officials. However it is unprofessional to speak against the referee’s decision because it comes to hunt you again and they are human too. But I’m happy with the reaction of my players after the World Cup exit. We have played four games and achieved positive results including the match in Liberia where we played with their President George Weah on the pitch just two days after our match in SeychellesYou mentioned Victor Moses and even justified his attributes. What is the situation with him and would you say you have finally replaced the captain of the team John Mikel Obi?The situation with Mikel Obi was that after the World Cup, he wanted to take a break from the national team and he told me that when he is motivated again he will return and don’t forget that he had some injuries. So we remain on this position for now but looking back, Mikel Obi is a fantastic player and his potentials as a leader is really working well for the team. The assistant captain Ahmed Musa is good too with different mentality at organising the team on the field and even after Musa we have William Troost Ekong and things are really working well for the team. As for Victor Moses, he told me but I was surprise after the World Cup that he insisted he wants to concentrate on his club football. I tried to convince him but to no avail and I guess he wants to regain his position but with the way things are now the door is open for him to return and I am hoping that he would have sorted himself out in the next transfer window.After over two years now, if you want to evaluate the team what percentage will you rate Eagles  now?As at the last World Cup finals we were at 60 percent but as at last week in South Africa the team had attained 70 percent but there is still a lot of work to do in all the departments.We have to find replacement where necessary especially in the goalkeeping and defence. In the attack, I’m happy that Ighalo has regained his striking form and we are looking forward to competition from other players. However one thing we must understand with the team is that in the past we have star players like Okocha, Kanu and the rest but not it’s an assemblage of average players that has transformed into formidable team.You spoke about Odion Ighalo but his club has been relegated in China does it mean anything to you and secondly it appears you do not give a damn to local players?I love local players, I love local people and it’s on record that since I became the Super Eagles coach, I have used 20 home based players from the local league for my matches. However, when you invite a player from the local league today and in the next few months he has eloped to Europe for greener pasture what do you do in that situation? Although it’s good for them to ply their trade else where but let me inform you that the activities of most of the football agents is not helping us with the invitation. All they want a platform for these players to get a good pay job outside the country for their selfish reason!At the same time the quality of the players also depend on the competitiveness of the league. When you play a season for just few months how do we get to know the quality of the players and don’t forget that the domestic league lacked standard infrastructure with no good playing turf and the financial motivation is not encouraging as well. On Ighalo, he has been an unfortunate player since the match against Argentina. Remember he came in as substitute for Iheanacho and because of the missed chances fans were against him. Ighalo was not the reason why we lost to Argentina but a collective responsibility of the team. Everybody is happy now that he is scoring for the national but I think he will look for a top division team when the Chinese season reopens next year.You were heavily critised for not making late substitutions in the match against Argentina and thus allowed the South Americans to come back from the dead just like it happened to the team at USA ’94 when we could not sustain the lone goal lead against Italy. What are the take away from these two scenarios?The talks about late substitutes would not have come up if we had won the match or at most kicked out Argentina from the World Cup. At half time we made one change out of mandatory three. I wanted to bring in Alex Iwobi for Ahmed Musa in the 70th I discussed with the bench and we agreed but in the stand we also have match readers who kicked against the change because Musa was giving the Argentines a lot of problems and they are afraid and that I should wait and sometimes you concede to arguments but it was a regret and next time I will not wait before I take such a crucial decision.What style of football has Gernot Rohr introduced into our football?We play collective football with the aim to reach the goal at shortest possible means. What the World Cup as taught us is that possession football is not the best. We attach and defend together instead of passing game that consumes a lot of energy. Everybody must participate and the ability to use the wings with several fast players in the pool now. We have strikers that can dribble and it must be to the advantage of the team.Where will you consider the real home of Super Eagles between Uyo and Asaba and  perhaps any other ground that we have used since you came to Nigeria?The players love to play on good grass. Asaba pitch is new and we told the ground men what they need to do because the ball was not bouncing properly but the Governor and the  people of Asaba are nice to us and it was a good thing that the team travelled round the country. However, I think the players like Uyo where they had played and won several matches and it’s a modern stadium while Asaba was a refurbished arena. But aside whether which one is better it will be good for the team to travel round and finally return to Abuja where the grass are not in existence.Would you be willing to work with coach Salisu Yusuf again when the ban on him is lifted?Yes I can understand the decision of the NFF which is in force and if they decide to bring him back after the expiration of his suspension I have no choice but to accept it. But personally I’ve had good relationship with Salisu but he has been caught in the trap and he was a bit naive and he is paying for the mistake(s). But in life anybody can make mistake and if the tide changes its okay by me but it’s the decision of the officials that is important.How true is it that you lost your wallet and phones at the Stadium during the AIETO Cup final match in Asaba recently?Oh, before the Asaba episode, I lost my wallet and phone at Agege stadium. A lot of people and I’m in the crowd I lost it and again at the cup final, my wallet disappeared again (laugh) but I’m getting used to the syndrome, I hold my pocket well when next I’m in such situation.As the coach of team what was the missing link that after the tie against Algeria in the last World Cup qualifying match FIFA annulled the 1-1 scoreline and awards the match to Algeria because we fielded an ineligible player. How do we guide against this as we move on?Yes NFF has to learn more administratively because a mail was sent in that regard but somebody failed to do his work. But on our part (team) I was not in-charge  in the qualifying match against Swaziland before the group stage and it was unfortunate that NFF lost track on the record before I came in. It would have been disastrous if the outcome of the match have reflected on our position leading to possible elimination. I know that the NFF have learnt a lot from the lapses and it won’t happen again.Going into the AFCON 2019, do you think Nigeria can win the tournament or what is your target and which team did you dread most not to come against?It is the dream of every team at the competition to win the title, but it will not make much of a sense to make a promise because other teams are also in the tournament to win.We have good chances to get to the semi-final at the 2019 AFCON,but we can’t be sure to win, it’s a young team, we should be realistic but once we reach the semi-final then winning the title is no longer far from us. I am that Zambia did not qualify for the tournament because they are one of the strongest team in the continent. I also wish I don’t get to meet Cameroon until may be the final match.Finally at the heat of the crisis in Nigeria football what was running in your mind or what was your experience like?Honestly, it was the ugly side of my stay so far in the country. After the World Cup I was supposed to submit my report and at the same time draw the plan for the next competition(s) but the episodes of seige at the Glasshouse today and secretariat retaken the next day was was not a pleasant moments for me. I got worse when FIFA ban was looming and at a time I got assurance from NFF boss that the matter would soon be resolved and it was good that my worst fear did not come to past.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram From a humble begining as the Head Coach of Super Eagles two years ago, the journey so far has taken Gernot Rohr to an enviable record as the first tactician to have qualified the senior national team to two major tournaments; Russia 2018 World Cup and next year’s African Cup of Nations in Cameroon, with a game in hand. Femi Solaja was at the ‘Peak Breakfast interview’ session organised by HS Media Group on behalf of Friesland Campina for Rohr. The gaffer spoke on the good, the bad and the ugly side of his journey with the national team so far. Excerpt…Before you took the job in Nigeria, you must have been privy to this notorious belief that we have this tendency of owing both local and foreign coaches. What convinced you to take the job especially when you were not the only coach pencilled down for the post?I don’t like to speak about money, I was not afraid to take the job. First, I was free and I’m guide by this personal philosophy of getting a job well done and hoping that the financial reward will come at the appropriate time. It was a bit risky but fortunately the officials (NFF) always pay the cash flow at the appropriate time and the result till date shows that we never had players’ revolt over unpaid allowances and same thing applies to me.last_img read more