This past Sunday night, Tom Hamilton brought along his American Babies for what turned out to be a rocker of a Dead & Company after-party at Boulder, CO’s The Fox Theatre, with some great special guests keeping the place electrified for a night of music.Grahame Lesh and his Midnight North cohorts played a solid opening set of original Americana rock tunes, which included their own “Phoenix Motel” from Scarlet Skies, and a cover of Crosby, Stills, and Nash‘s “Suite: Judy Blue Eyes” (they will be playing special tribute shows to CSNY at Brooklyn Bowl on July 29th and in San Fran on Aug. 12th). The group invited Hamilton out for a rousing cover of the Grateful Dead‘s “Viola Lee Blues,” and finished the set strong on “The Highway Song,” which featured beautiful vocals from singer Elliott Peck.With a packed house ready to keep the party going, American Babies did not disappoint. Their set began with original Babies songs “Fever Dreams” and “What Does It Mean To Be” from their latest release, An Epic Battle Between Light and Dark, before digging into T-Ham’s back catalog with Brothers Past‘s “Too Late To Call”, which turned the venue into a veritable dance party. If one thing is for certain, the current lineup of Hamilton on lead guitar/vocals, along with guitarist Justin Mazer, drummer Al Smith, acoustic guitarist/vocalist Raina Mullen, and bassist Mark Sosnoskie is a force to be reckoned with and completely locked in at this point in time. Will Trask from Denver-based funk act RunniKine joined the group on this special night for some additional help on percussion.Tom Hamilton Talks Almost Dead, American Babies & An Epic Battle Between Light And DarkAs billed, Hamilton’s fellow Joe Russo’s Almost Dead bandmate Marco Benevento joined the fray on “Old Time Religion” which led into his own “At The Show” from the mad scientist’s 2014 album Swift. Later on in the set, Dead & Co bassist Oteil Burbridge joined the group for a beautiful cover of The Allman Brothers Band‘s “Blue Sky,” which had everyone in the audience elated, and featured a sweet solo from Justin Mazer, along with great interplay between him, Hamilton, and Burbridge.With both Burbridge and Benevento sticking around on stage, the ensemble played an inspired “Eyes of the World” which kept the positive vibes going inside The Fox. A “Deal” encore brought the show to a successful end as everyone made their way out on the streets of Boulder. This was certainly the icing on the cake for what was an epic weekend in Colorado.[all photos courtesy of Joshua Elioseff – Dancer Productions Photography]Setlist: Midnight North at The Fox Theatre, Boulder, CO – 7/3/16One Night Stand – EPRoamin – AllWind & Roses – GLPhoenix Motel – EPSuite: Judy Blue Eyes – AllEveryday – GLViola Lee Blues – All w Tom HThe Highway Song – EPSetlist: Tom Hamilton’s American Babies at The Fox Theatre, Boulder, CO – 7/3/16Fever DreamsWhat Does It Mean To BeToo Late To CallSynth Driver Old Time Religion* >At The Show*^Blue Sky*%#Eyes Of The World*%Encore: Deal*%* with Marco Benevento^ Marco Benevento original (first time played)% with Oteil Burbridge # Allman Brothers original (first time played) Load remaining images
Strathclyde’s cash balance at the end of its 2019 financial year was £58.8m. By way of comparison, the cash balances of Lothian Pension Fund, the second largest local government pension scheme in Scotland, had group cash balances of £39m as at 31 March 2020.Strathclyde’s total investment return for the year to 31 March 2020 was -3.5%, with most of the loss coming from equity portfolios (-6.3%).There were sharp falls in some other portfolios – -20.4% in emerging market debt and -15.5% in multi-asset credit – although the pension fund said its non-equity investments “held up reasonably well”, with UK property returning 2.5%, global real estate 11% and global infrastructure 3.7%.Although Strathclyde’s three and five-year annualised returns “comfortably” exceeded its benchmark, the pension fund highlighted that the three-year figure of 2.7% was less than the actuary’s long-term assumption of 3.5% per annum, and would therefore have a negative impact on the actuarial valuation to be carried out with a strike date of 31 March.New investment structure implementedStrathclyde has been pursuing a strategy of greater diversification over the past several years, and in its annual report said that during 2019/20 it had implemented an investment structure “consistent with” the new strategic target model it had agreed in 2018.Called “Step 2”, the model involves a 20% target allocation to two “enhanced yield” buckets – one short-term and one long-term – plus a 52.5% allocation to equity, a 1.5% hedging/insurance allocation and a 6% credit allocation.The pension fund said funding of a new private real estate debt mandate with ICG Longbow, and of three new segregated private corporate debt mandates with Barings, Alcentra and Partners Group commenced in the year under review, and would show up in the amount invested in the short-term enhanced yield bucket over the next two to three years.Looking for IPE’s latest magazine? Read the digital edition here. Strathclyde Pension Fund, Scotland’s largest local authority pension fund, topped up its cash balances to prepare for any COVID-19-linked interruption in income from employers, according to its unaudited annual report.The report indicates the top-up, which was a transfer from its investment balances, was for £100m (€84m).The £20.9bn pension fund said the transfer was “to ensure ample cover for pensions payments in the event that income from employers is interrupted as a result of coronavirus precautions in the new financial year”.It said it contributed to an “unusually high” cash balance of £195m as at 31 March 2020, the end of its financial year, alongside a contributions payment in respect of backdated equal pay settlements and a bulk transfer payment.