Latest news with #Nicol
Herald Sun
5 days ago
- Business
- Herald Sun
Alternatives to the TACO trade?
Volatility in listed equity markets is driving fresh demand for alternative assets as investors try to shield themselves from the potential for disruption sparked by US President Donald Trump. The market has settled since the so-called Liberation Day in April and is up around 4 per cent this year. But it's the volatility making investors nervous. It may be calm now as markets embrace the TACO (Trump Always Chickens Out) trade, but who knows how long that will last? The lure of alternatives, which include a wide range of assets such as private credit, private equity, infrastructure, crypto and real estate, is not just the returns on offer but also the diversification benefits. In theory, they behave differently to listed equities and provide a degree of comfort when sharemarkets suffer violent ructions. The red-hot private credit space is an obvious choice for those looking for a defensive element to a portfolio far removed from the ups and downs of public markets. And investors have been throwing themselves into this asset class, chasing promises of steady income and capital growth. 'There's been an explosion of new private credit funds available to investors in the past few years,' GFM Wealth Advisory managing partner and senior financial planner Paul Nicol says. 'It's now a very crowded market and extra care is needed for those preparing to dip a toe in.' The rush to private credit has been so relentless the regulator is now probing the wider private markets sector as it seeks to get a better handle on what happens under the hood of this broadly opaque market that boasts $150bn assets in Australia alone. 'We have a degree of caution on this part of the market at the moment because it's so crowded. We largely like to be in managed private credit portfolios that have very diversified loan books. We prefer not to be in single loans,' Nicol says. Metrics Credit Partners is one manager he puts client money into. How much should you allocate to alternatives? But how much of a portfolio should be in alternatives and how much wealth should you have before stepping into these asset classes? For Nicol, investors should have at least $500,000 at hand to get the proper diversification benefits of alternatives. Anyone who doesn't meet this threshold can probably do well enough just leaving it up to the major super funds to do the hard yards for them, he says. He says for an average growth-focused investor, a 10 to 20 per cent allocation to alternatives is appropriate. This is across a variety of options, namely private credit, private equity, infrastructure and real estate. The returns an investor can expect from each option vary depending on the risk. Private credit, for example, is direct lending to a business. It comes with a steady income component and it's not seen as high risk, though that may be changing as more and more funds pop up to take advantage of strong investor appetite. Returns may be in the mid to high single digits. Private equity, on the other hand, is riskier and investors will therefore be looking for higher returns of at least 10 per cent and often much more. But private equity has been in the doldrums the past few years, with returns not nearly as attractive right now. Even as the regulator probes private markets and risks look to be rising in some segments, a new survey from investment manager Fidante, which is part of Challenger Group, reveals some financial advisers are seeking to add to alternative assets for clients. It found one in three advisers is looking to increase client allocation to infrastructure, while one in five plans to add to private equity and private credit. The global backdrop plays a part here, according to Fidante Affiliates general manager Evan Reedman. 'It's likely global macroeconomic and geopolitical tensions will continue, and for investors that means navigating a period of ongoing uncertainty and volatility,' he says. 'Advisers have been quick to look further afield for pockets of opportunities, such as emerging markets, small caps and private markets, that can provide both diversification and alpha to a client's portfolio.' Super tax the latest challenge Not everyone is aboard the private markets train. The latest challenge is the government's looming new tax on higher superannuation balances which, for some, is prompting a rethink against locking up retirement savings into illiquid assets. Aspire Retire co-founder and financial adviser Olivia Maragna says many of her clients' portfolios are already defensively positioned and, while they're staying invested in markets, she's typically advising a staggered approach when adding to holdings right now because of the uncertainty at home and abroad. She's not advising against alternatives but sees benefits in choosing listed options to get exposure to these asset classes, such as infrastructure or private credit ETFs. 'With the $3m super rule, if that comes in no one will want to get locked into something that they can't get out of if they've then got to go and change their strategy. 'With listed holdings, there's reporting requirements, there's all those things that you've got security over. As things start to get a bit uncertain, the focus tends to come back to 'what is it that I'm invested in? How do I own it? How do I get my money out if I want it?' Liquidity is important to investors at that time.' Originally published as Investors seek out alternative investment strategies to hedge against Trump Read related topics: Donald Trump
The Star
6 days ago
- Entertainment
- The Star
Sivasangari storms into British Open quarter-finals
PETALING JAYA: S. Sivasangari has become the first Malaysian squash player since Datuk Nicol David to reach the quarter-finals stage of the British Open since 2017. The 26-year-old earned her maiden quarter-finals appearance in the prestigious tournament after taking out seventh seed Satomi Watanabe of Japan at Birmingham Repertory Theatre on Tuesday (June 3). The world No. 9 from Kedah prevailed 11-9, 11-9, 4-11, 11-4 in the battle of Asia's top two players. Sivasangari had also beaten the Japanese in the semi-finals of the Asian Games in Hangzhou two years ago. Sivasangari has a chance to follow in Nicol footsteps if she can overcome fourth seed Amina Orfi of Egypt in the quarter-finals tomorrow (June 5). Nicol, a five-time winner of the British Open, made her last semi-final appearance in the 2017 edition in Hull, going down 6-11, 6-11, 8-11 to Camille Serme of France.
Yahoo
27-05-2025
- Business
- Yahoo
NI Holdings, Inc. Announces Executive Leadership Appointments
FARGO, N.D., May 27, 2025 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (the 'Company', NASDAQ: NODK) today announced several strategic leadership appointments to support the company's long-term growth and execution of its core business strategies. 'We are excited to announce multiple executive leadership appointments,' said Seth Daggett, President and Chief Executive Officer of NI Holdings. 'These individuals bring deep operational knowledge, extensive industry experience and strategic insight to our executive team.' Kevin Elfstrand has been promoted to Senior Vice President and Chief Accounting Officer. He will continue to oversee the Accounting department and lead external financial reporting. Mr. Elfstrand brings over 20 years of experience in the property and casualty insurance industry, including 17 years at Travelers Companies, Inc., where he most recently served as Assistant Vice President of Corporate Audit. He began his career at Deloitte and is a Certified Public Accountant (CPA). He holds a bachelor's degree in accounting from Saint John's University in Minnesota. Brandon Nicol has been promoted to Senior Vice President of Reinsurance and Chief Underwriting Officer. In this role, Mr. Nicol will lead the Company's underwriting strategy and reinsurance. He has 19 years of experience across the insurance and reinsurance industries, including roles at AmericanAg, XL Catlin, COUNTRY Financial, and State Farm. Mr. Nicol holds the Chartered Property and Casualty Underwriter (CPCU), Associate in Reinsurance (Are), and Agribusiness and Farm Insurance Specialist (AFIS) designations and serves as a Major in the U.S. Army National Guard and Army Reserves. He holds a bachelor's degree in insurance from Illinois State University. Chris Oen has been promoted to Senior Vice President and Chief Claims Officer. Mr. Oen will continue to lead the Claims department, drawing on his 30 years of experience in the property and casualty insurance industry. He joined NI Holdings in 2007 and has held progressively senior roles during his time with the Company. Mr. Oen serves on several industry boards, including as Chairperson of the North Dakota Auto Assigned Claims Plan, and is a veteran of the Army National Guard. He holds a bachelor's degree from the University of North Dakota and holds the Associate in Claims (AIC) designation. Dominic Weber has been promoted to Senior Vice President and Chief Actuary. Mr. Weber will continue to lead the Actuarial department and oversee reserving, ratemaking, and predictive analytics initiatives. With more than 42 years of experience in the property and casualty insurance industry, Mr. Weber previously served as Vice President and Chief Actuary at Society Insurance. He is a Fellow of the Casualty Actuarial Society (FCAS) and a Member of the American Academy of Actuaries (MAAA). He holds a bachelor's degree in actuarial science from the University of Nebraska – Lincoln. Doug Duncan has been recently hired as Senior Vice President and Chief Information Officer. In this newly created role, Mr. Duncan will lead the Company's technology strategy and oversee modernization initiatives to support business growth. He brings more than 25 years of technology leadership experience, including previous roles as Chief Information Officer at Columbia Insurance Group and Senior Vice President at Swiss Re. He holds a Master of Business Administration from Colorado State University and a bachelor's degree from the University of Kansas. 'The leadership of Kevin, Brandon, Chris, Dominic and Doug will strengthen our capabilities and help us better serve our shareholders, policyholders, and agents,' added Daggett. 'We are confident these leaders will play a critical role in advancing our strategic priorities. Their diverse experience and proven leadership will help position NI Holdings for continued success.' NI Holdings, Inc. is an insurance holding company. The company is a North Dakota business corporation that is the stock holding company of Nodak Insurance Company and became such in connection with the conversion of Nodak Mutual Insurance Company from a mutual to stock form of organization and the creation of a mutual holding company. The conversion was consummated on March 13, 2017. Immediately following the conversion, all of the outstanding shares of common stock of Nodak Insurance Company were issued to Nodak Mutual Group, Inc., which then contributed the shares to NI Holdings in exchange for 55% of the outstanding shares of common stock of NI Holdings. Nodak Insurance Company then became a wholly-owned stock subsidiary of NI Holdings. NI Holdings' financial statements are the consolidated financial results of NI Holdings; Nodak Insurance Company, including Nodak Insurance Company's wholly-owned subsidiaries American West Insurance Company, Primero Insurance Company, and Battle Creek Insurance Company; and Direct Auto Insurance Company. Some of the statements included in this news release are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Actual results could vary materially. Factors that could cause actual results to vary materially include risks we describe in the periodic reports we file with the Securities and Exchange Commission. You should not place undue reliance on any such forward-looking statements. We disclaim any obligation to update such statements or to announce publicly the results of any revisions that we may make to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our SEC reports, including, but not limited to our Annual Report on Form 10-K, as filed with the SEC. Matt MakiExecutive Vice President, Treasurer and Chief Financial Officer701-212-5976IR@
Scotsman
25-05-2025
- Business
- Scotsman
How Instagram ad helped Scot find his next move with USGA greenkeeping course
Aberdonian Nicol hailed as 'perfect student' by programme co-ordinator in North Carolina Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... He's an Aberdonian who was home from Australia and fully intended heading back there before a 'random' decision resulted in him travelling to America instead to learn all about greenkeeping. Step forward Liam Nicol, who is currently taking part in the USGA's Greenkeeper Apprenticeship Programme (GAP) at Pinehurst in North Carolina after spotting the exciting opportunity on social media. Advertisement Hide Ad Advertisement Hide Ad The programme, which is in its third year and is being made possible by a $1 million investment, has been hailed as 'removing barriers' in a quest to change the culture surrounding the greenkeeping industry in the US. Carson Letot, the USGA's Greenkeeper Apprenticeship Programme (GAP) co-ordinator, chats to some of the apprentices in North Carolina | USGA Though unsure at the moment where it might lead for him, Nicol, who previously worked in the construction business, is enjoying being part of the learning experience along with one of his friends, Irishman Chris Kelleher. 'Honestly, it was the most random thing I've ever done in my life,' 29-year-old Nicol told Scotland on Sunday. 'I'd just come back from Australia last August after being away for two years and I was heading back to Australia, having got my visa and everything else sorted. 'Though I don't even remember doing it, I applied for the USGA GAP programme after an advert about it came up on Instagram. I think within three weeks I'd got an acceptance and, when I showed it to my mum and dad, I said to them 'surely this can't be legit'. I then showed it to my sister and, after she read it through, she said 'it is legit'. Advertisement Hide Ad Advertisement Hide Ad 'So I emailed Carson [Letot, the programme co-ordinator], and he was like 'sure enough, you are in'. I was supposed to go to Myrtle Beach but then got moved over to the Pinehurst programme and found myself out here in the US on 1 January. 'It's been brilliant so far. Obviously you have some tough days but, overall, what an experience. To be able to do something like this is great and also in a short space of time as well because you don't feel you are tied to it. You just jump into everything and do everything you possibly can. I've really enjoyed it and it is cool to be in a different country as well.' Through the one-year programme, the apprentices are learning about the greenkeeping trade through a mix of on-course work - Nicol has done it so far at Pine Needles and Mid Pines - and classroom activities. Aberdonian Liam Nicol at work out on one of the courses he's working on through the one-year programme | USGA 'I had worked in civil engineering construction for the last ten years before handing in my notice when I was 27 and getting a visa to travel to Australia and travel a bit out there,' he said. Advertisement Hide Ad Advertisement Hide Ad 'I worked in a few different jobs there, including a farm, but I always wanted to work on a golf course through having played golf and I had such a good manager - Simon Blagg - at a course when I was in Australia that it probably helped me what I am doing now. 'If I didn't have him as the superintendent, I don't think I'd be here now. I think he was key to it all. I was only there for six months, but he exposed me to everything to do with the job while helping him as well, which was great.' In between coming home from Australia and heading out to America, Nicol enjoyed getting the opportunity to put his construction skills to good use at Royal Aberdeen, where his dad plays his golf. 'I ended up getting a job there for a month to help them do a reconstruction of a whole new first green before I came out here and that was a great experience,' he said. 'After playing at Westhill to start with then Craibstone, I sort of fell out of love with golf in my early 20s but now every day I go to work I am interested in trying to make the course better and speak to people to do with golf. The programme is related directly to the classroom. When we first arrived, we were doing four days a week straight after work for two hours, but now that is down to just two days due to it being busier on the courses. Advertisement Hide Ad Advertisement Hide Ad Liam Nicol loves the detailed work that is involved in the greenkeeping trade | USGA 'I've done apprenticeship programmes in the past and I think it is great for people who were maybe not so great at school because it applies so directly back to your class. If we are doing something at work and it also comes up in the class it is just so relatable. It keeps you pretty invested in why you are doing the different stuff on the golf course. It's great to know that there is so much detailed work that goes into just growing grass and making the golf course look the way it does, which I really enjoy.' Letot, who did an internship himself at Mount Juliet in Ireland, is delighted to have Nicol on the programme. 'Liam has fitted like a glove into the mix of the culture of the class,' he said of the Scot. 'I hate to say a safe bet, but he's come over and he knows what to do on the course and knows what to do in the class. He knows how to make friends, he knows how to play golf. It's like the perfect student to start this with, which is great, and then we build on the top of it. 'It would be nice to get someone who pushes our students a bit more to think outside of the box and to see a culture they've never seen before and maybe had some misconceptions about that they can learn from and expand their own horizons a bit.'
The Star
23-05-2025
- General
- The Star
Empowering children via sports
Nicol: 'It's a platform to inspire and equip young Malaysians with the tools they need to thrive in life.'
