A more sizable infrastructure portfolio of £120m was also awarded by the main scheme to Hastings Funds Management, and Legal & General Investment Management (LGIM) – already responsible for more than £10bn of RBS Group Pension Fund’s assets – won a £17m forestry mandate.LGIM also won a further £145m global credit mandate, doubling the size of credit investments while terminating the £82m mandate held by Standard Life.The manager saw a liability hedging and cash mandate previously overseen my BlackRock split in two – between a £380m liability hedging and a £132m cash and liquidity portfolio.In the report, the fund noted that its continued diversification into alternatives allowed “a reduced concentration of risk in equities”.“The purpose of this diversification is to give the fund a more balanced portfolio, which should generate more consistent returns based on a broader range of assets,” it said.It also saw property investments increase by £200m to £1bn, largely granted to a £393m UK property mandate overseen by Standard Life. A more than £600m (€711m) reallocation of assets from equities to alternatives by the £25bn pension fund for the Royal Bank of Scotland Group has seen mandates by two asset managers terminated.In its annual report, covering the financial year to 31 March, the RBS Group Pension Fund said it reduced its equity investments to £8.6bn, increasing real estate and alternatives holdings, such as infrastructure.It fund said it outperformed its strategic benchmark by 0.9 percentage points over the course of the year, returning 13.8%, and outperformed its three-year target by 1.3 percentage points, achieving a result of 12.2%,It terminated a £377m global equity mandate held by Lazard Asset Management and a £238m mandate overseen by Davis Funds, while in its smaller, £766m section it invested £13m in infrastructure equities and £6m with Nephila Capital, a specialist manager investing in insurance-linked securities and reinsurance risk.
A Ballybofey man who was addicted to so-called ‘head-shop’ drugs has pleaded guilty to a number of charges including burglary, theft and criminal damage.Leo Marley, who has addresses in Raphoe and Ballybofey, pleaded guilty to charges before Judge Paul Kelly at Letterkenny District Court. Sergeant Jim Collins said that on dates between September 20 and September 24, 2014, Marley stole a laptop from the owner of a house at Sessiagh View, Ballybofey. The owner had been away for the weekend and when she returned, discovered that her house had been burgled.The defendant, the court heard, swapped the laptop with another man the following month but the property was ultimately returned to its owner.On January 1, 2018, gardai were called to a house at The Elms, Letterkenny where Marley had been illegally squatting. They found Marley banging on the door attempting to gain entry. Later the occupier said that two panes of glass had been broken at the rear patio entrance.On January 26 there was another altercation at the property in The Elms. Marley had again tried to gain entry and was in an agitated state. On this occasion the property owner claimed to have been assaulted by the defendant.On February 18, last year Gardai were called to the Emergency Department of Letterkenny University Hospital where Marley was causing a nuisance for staff.They became concerned for the safety of patients in the waiting area, both adults and children, and when gardai arrived the defendant held a phone in their face in an attempt to record them.He refused to leave and was arrested as there was no medical reason for him to be there.A further offence was recorded on November 15, last year, when Marley stole a chainsaw from a property at Trusk, Ballybofey.Marley was also seen on CCTV taking items from Gleneany House, Letterkenny on the same date.The most recent offence relates to January 19 when the defendant assaulted his former partner in a house at Raphoe and broke windows there causing €200 worth of damage.The following day, gardai received a call from the owner of a house at Beltony Park, Raphoe where the defendant had been banging on the door of the house. He then got on top of a van parked outside the property and started jumping up and down on the roof.Marley, Judge Kelly was told, has 36 previous convictions.Solicitor, Patsy Gallagher said his client has been on a “downward spiral of ill health and well-being over the last week”.He said the 27-year-old had been in a long term relationship for more than 12 years and added he has had difficulties throughout his life.“After his teen years he became addicted to narcotics which worsened ten years ago when he became addicted to head-shop products, most notably one called ‘Spice’”Mr Gallagher said the catalyst for the deterioration in Marley’s behaviour was the death of his mother and added it is worsened. Alcohol “adds fuel to the flames”, said Mr Gallagher.The court heard Marley had sought help in the past and has attempted rehabilitation in Whiteoaks.He continued: “Much of this offending is centred around the Trusk Road area which is the site of my client’s former home.“He maintains an attachment to the house even though it has no been sold on. The chainsaw that he took was actually from the garage of his family home.”Mr Gallagher added the newer charges over the weekend have come about as a result of his alcohol intake and issues with his relationship.“He is an addict and he needs further help. He accepts he has been in difficulties and in recent times he has basically been put to the street and that has not been helpful.”Having heard the evidence, Judge Kelly noted the defendant has an “appalling record” and a history of violent behaviour.Judge Kelly proceed to impose total prison sentences of eight months.Man addicted to ‘head-shop’ drugs is jailed for eight months was last modified: January 25th, 2019 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)