U.S. Says that Fighting Drug Use Reduces Violence in Latin America


first_imgBy Dialogo July 29, 2009 Mexico City, 27 July (EFE).- U.S. drug czar Gil Kerlikowske, speaking today in the Mexican capital, affirmed that preventing and treating addictions, particularly with regard to the use of narcotics, “is fundamental” for reducing violence caused by drug trafficking in Latin America. “When we put more emphasis on prevention and treatment, we’re not only helping our own country (the U.S.); we’re also helping to reduce violence” in the region, said the director of the White House Office of National Drug Control Policy, who is on a four-day visit to Mexico. “If we cut down on the use of drugs, we will also be able to cut down on violence and crime in Mexico and in Latin America,” Kerlikowske said while touring a treatment center for addicted minors, where he was accompanied by Mexico’s first lady, Margarita Zavala, and the Mexican Secretary of Health, José Ángel Córdova. The official affirmed that U.S. policy in the fight against drugs seeks to understand, appreciate, and support work done in other countries. He commented that 20 million individuals over twelve years of age used drugs in the last month in the United States, and around 23 million Americans need treatment. “Only ten percent of these people end up in treatment, in part because it’s not available, and because people think they don’t need it,” he added. Mexico’s first lady, Margarita Zavala, agreed that the fight against drugs is fundamental because “drug use generates violence, destroys families, and destroys society.” During the event Iris Vianney Velázquez Martínez, a young patient at the New Life Center, affirmed that she is addicted to alcohol and that with the treatment she has received, she has learned how to make decisions and how to avoid hurting those she loves the most. In the country there are 320 centers like New Life which also provide outpatient services for early detection and prompt treatment of addictions.last_img read more

Active global equity fees have dropped 11% since 2017: LCP


first_imgThe average annual fee for a £50m investment mandate was 65bps, down from 73bps in 2017, saving £40,000 a year, according to the consultant.It added that the largest contributing factor to declining fees was decreasing allocations to active equity mandates.LCP calculated that, as a result of DB schemes changing their asset allocations since 2010, the average scheme was paying more in fees to credit and liability-driven investment managers than to equity managers.Fixed income costs on the riseWhile the average fee for actively managed global equity had decreased by £40,000 for a £50m mandate, the cost of a similar-sized corporate bond mandate had risen by £35,000.LCP suggested that the increase in fixed income fees could be due to pension funds’ demand for bespoke and more sophisticated fixed income strategies.The survey also found wide variations in reported transaction costs for listed infrastructure and actively managed global equity.“This illustrated the need to ask managers to explain and justify these costs,” said LCP.Matt Gibson, head of investment research at LCP, said that falling investment manager fees had allowed investors the opportunity to renegotiate their fees to the new market level.However, he highlighted that reduced costs didn’t always result in value for money “as fees and costs should be considered against the value created by the investment manager”.The LCP survey found that transaction costs for global equity and corporate bonds added 25% and 45%, respectively, to asset management costs on average.It noted that, despite regulatory pressure, many asset managers had not been able to provide detailed transaction cost information, only providing a full breakdown of these costs for 170 of the 677 surveyed products.LCP said that a change in regulation at the end of 2017 had allowed for accurate and comparable analysis of transaction costs data for UK institutional investors for the first time in the history of the survey.The LCP survey was conducted among 71 asset management organisations and covered 49 asset classes.Further readingManagers urged to comply with new cost disclosure templates The UK could legislate to enforce new cost transparency codes if investment managers and service providers do not comply voluntarily, the country’s pensions minister has warnedCost transparency poses threat to asset managers, says Moody’sThe UK’s newly launched investment cost reporting templates could hurt asset managers’ business models and financial stability The average fee for an actively managed global equity mandate for a UK institutional investor has fallen by 11% since 2017, according to LCP.In its latest Investment Management Fee Survey, the consultancy cited increased competition and downward pressure from low-cost index trackers as the main reasons for the fall.The survey also revealed “notable” fee reductions in a range of other key asset classes, including multi-asset diversified growth funds, multi-asset credit, liability-driven investment strategies, and passive global equity mandates.The pensions adviser estimated that a typical £500m (€548m) defined benefit (DB) pension fund in the UK had seen a reduction in total investment fees from 39 basis points to 36bps, or £140,000 a year, in the past 10 years.last_img read more