Stowe, VT – The United States Tennis Association has announced that the Fed Cup by BNP Paribas Semifinal between the United States and Russia will be held at Topnotch Resort and Spa in Stowe, Vermont, July 14 15. The event is being organized in association with Grand Slam Tennis Tours.”Grand Slam Tennis Tours (GSTT) has recently partnered with the USTA to become ‘An Official Travel Partner of the USTA’,” says Andrew Chmura, President of GSTT. “We are thrilled to bring Fed Cup competition to our home town of Stowe.”The Fed Cup is the world’s largest international womens team competition. Two singles matches will take place on Saturday with two reverse singles and one doubles match on Sunday.The USTA will construct a 3,000-seat stadium at Topnotch Resort and Spa. Based on previous Fed Cup Tie statistics, the presence of this event is expected to have significant economic impact for Stowe and surrounding areas.Travel packages will be available from GSTT, An Official Travel Partner of the USTA. Individual tickets will go on sale the week of June 4. Visit www.GrandSlamTennisTours.com(link is external) for package details and tournament updates.Individuals or businesses interested in becoming a ‘Friends of the Tie’ sponsor or volunteer, visit www.fedcupstowe.com(link is external) or call 800.289.3333.Background on Grand Slam Tennis ToursGrand Slam Tennis Tours recently partnered with the USTA to become ‘An Official Travel Partner of the USTA’, which owns and operates the US Open at the USTA Billie Jean King National Tennis Center in Queens, New York on August 27-September 9, 2007. GSTT offers tennis travel packages with excellent seating, hotel accommodations, receptions with tennis champions, academies and more. President Andrew Chmura and founder David Kenny have been accompanying spectators to the Australian Open, Roland Garros, Wimbledon, and US Open, among others, since 1989.History of Stowe and TennisThe town of Stowe has 360 tennis courts, which equates to approximately one court for every 11 people. In the seventies and eighties, the Head Classic Tennis Tournament was held in Stowe. Jimmy Connors, Ivan Lendl and Brad Gilbert were familiar faces in the town.
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Chairman of trustees for the scheme, Norman Braithwaite, said the decision to move to fiduciary management had been due to the increasing difficulties around governance.“We are very pleased with our decision,” he said. “We liked the elegant simplicity with which P-Solve executes its work, and the fact their approach was easy to understand.”In other news, one of the UK’s largest insurers, Legal & General (L&G), has reinsured around £1.3bn of longevity risk from its bulk annuity book.The announcement will see US reinsurer Prudential Retirement Insurance and Annuity Company (PRIAC) take on the longevity risk from L&G’s large bulk annuity business.The insurer wrote more than £3bn in bulk annuity business in the first six months of the year, taking its total business to around £24.6bn.The re-insurance comes as the UK’s bulk annuity market is expected to break records in 2014, having seen £6.5bn of written business in the first half of 2014.L&G told IPE it had yet to see a bulk-annuity mandate for which it was not interested in quoting, with the company aiming to expand its business to account for an expected reduction in the writing of individual annuities.On the reinsurance announcement, Tom Ground, head of bulk annuities at L&G, said the deal would support the insurer’s growth in the market. The £50m (€63m) Ashridge Pension Scheme has appointed P-Solve as its fiduciary manager.P-Solve, which recently became part of the River and Mercantile Group, will be responsible for the scheme’s day-to-day investment decisions such a manager selection, tactical asset allocation, implementation and monitoring and reporting.The company will also provide investment advice and set risk tolerances.P-Solve came through an open tender, beating four rival providers to win the mandate.