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Former ND electrician dies


first_imgFormer Notre Dame electrician Royce McDaniel Eck died Tuesday evening, according to a University press release. Eck was 92 years old.A World War II veteran, Eck spent two years in the Air Force before being discharged in 1946, according to his obituary in the South Bend Tribune. He went on to work at Notre Dame for 30 years before retiring in 1985.According to the Tribune, there will be a viewing at 10 a.m. Tuesday at the Rieth-Rohrer-Ehret Funeral Home in Goshen. Services will follow at 11 a.m. Eck’s family has asked that memorial donations be made to the Center for Hospice.Tags: electrician, Royce McDaniel Eck, Staff Deathlast_img


Dutch schemes fail to push management fees below 0.5% threshold


first_imgManagement fees totalled €4.9bn, an increase of 22% compared to 2015. This is because fees tend to be calculated as a percentage of total assets.According to Johan van Soest, senior consultant at LCP, the main reason for the increase in fees was, however, an increase in performance fees.“We’ve noticed pension funds have been able to negotiate much better contract terms with their asset managers in recent years,” he said. “Still, these lower base fees do not compensate fully for an increase in performance fees.”Bpf Bouw, for example, recently reported it had managed to reduce fees paid to hedge fund managers from €37.9m to €30.8m. However, at the same time the fund said it had seen a €6m increase in performance fees since 2013. Large Dutch pension funds have not been able to push their investment management fees to below the 0.5% threshold, even though their assets under management increased by 28% in the past five years.Consultancy LCP looked at total management fees as a percentage of total assets for the seven largest occupational funds – ABP, PFZW, PMT, PME, BpfBouw, Vervoer and PGB – and three large company pension funds (Philips, Rabobank and Shell). Together, these funds administer two thirds of all Dutch pension assets.The average management fees the funds paid in 2019 totalled 0.51%, excluding transaction costs. This is only two basis points less than in 2015, though total assets under management of the 10 funds increased from €763bn to €973bn in 2019 (+28%).Including transaction costs of 0.09%, investment management fees totalled 0.6%, or €6.3bn. This compares to 0.61% in 2015.last_img read more