Impact Investments: Perspectives for Australian charitable trusts and foundations

Australia, like many jurisdictions around the world, has witnessed increasing interest and activity in impact investment over recent years as businesses, governments and communities seek new solutions to enable an inclusive and sustainable society. Philanthropists, foundations and charities as well as institutional investors have implemented impact investment strategies. These strategies aim to yield financial returns, as well as positive and measureable social and environmental impacts. Done well, impact investment provides the opportunity for charitable trusts and foundations to deploy a greater proportion of capital resources in support of their mission, engage with a broader range of solutions for addressing social and environmental challenges, and sustain and grow assets for future use. Charitable trusts and foundations may also use their resources in a manner that catalyses and attracts additional capital to social and environmental needs.Evans & Partners, Herbert Smith Freehills, Macquarie Funds Group, Macquarie Group Foundation, The Ian Potter Foundation and The University of Sydne

Impact Investments: Perspectives for Australian superannuation funds

Australia, like many jurisdictions around the world, has witnessed increasing interest and activity in impact investment over recent years as businesses, governments and communities seek new solutions to enable an inclusive and sustainable society. Philanthropists, foundations and charities as well as institutional investors have implemented impact investment strategies. These strategies aim to yield financial returns, as well as positive and measureable social and environmental impacts. While some investors pursue commercial financial returns, others consciously elect to accept reduced financial returns in the interests of pursuing greater impact. Anecdotal evidence would indicate that a well-executed impact investment strategy provides trustees the opportunity to build investment portfolios aligned to member’s values and with unique exposure and uncorrelated diversification to a wide range of geographies and sectors. All factors that support impact investment having a legitimate role within superannuation fund portfolios.Herbert Smith Freehills, Evans and Partners, The Ian Potter Foundation, Macquarie Funds Group, Macquarie Group Foundation, The University of Sydney

Entrepreneurship and Innovation Program Annual Report 2014

The Entrepreneurship and Innovation Program at the University of Sydney Business School focuses on identifying, nurturing and strengthening entrepreneurial communities of learning and practice. This 2014 Annual Report sets out our teaching and research activities and achievements, and shows how our programs such as Remote and Rural Enterprise (RARE), Genesis, and Entrepreneurship Development Network Asia (EDNA) act as catalysts for community and action

The Effect of Project Labor Agreements on the Cost of School Construction

This paper investigates the impact of project labor agreements on school construction cost in New England. In contrast to prior research, which applied very leanly specified cost models to secondary data, this study explores more sophisticated models using a rich data set on school characteristics collected by the authors to control for the increased complexity inherent in PLA-built schools. The results indicate that while simple models exhibit large positive PLA effects, such effects are lacking in more complete models. We suggest that the PLA coefficients in simple models are capturing the increased complexity, and cost, of school projects built under PLAs

Impaired natural killer cell phenotype and function in idiopathic and heritable pulmonary arterial hypertension

BACKGROUND: Beyond their role as innate immune effectors, natural killer (NK) cells are emerging as important regulators of angiogenesis and vascular remodeling. Pulmonary arterial hypertension (PAH) is characterized by severe pulmonary vascular remodeling and has long been associated with immune dysfunction. Despite this association, a role for NK cells in disease pathology has not yet been described. METHODS AND RESULTS: Analysis of whole blood lymphocytes and isolated NK cells from PAH patients revealed an expansion of the functionally defective CD56(-)/CD16(+) NK subset that was not observed in patients with chronic thromboembolic pulmonary hypertension. NK cells from PAH patients also displayed decreased levels of the activating receptor NKp46 and the killer immunoglobulin-like receptors 2DL1/S1 and 3DL1, reduced secretion of the cytokine macrophage inflammatory protein-1β, and a significant impairment in cytolytic function associated with decreased killer immunoglobulin-like receptor 3DL1 expression. Genotyping patients (n=222) and controls (n=191) for killer immunoglobulin-like receptor gene polymorphisms did not explain these observations. Rather, we show that NK cells from PAH patients exhibit increased responsiveness to transforming growth factor-β, which specifically downregulates disease-associated killer immunoglobulin-like receptors. NK cell number and cytotoxicity were similarly decreased in the monocrotaline rat and chronic hypoxia mouse models of PAH, accompanied by reduced production of interferon-γ in NK cells from hypoxic mice. NK cells from PAH patients also produced elevated quantities of matrix metalloproteinase 9, consistent with a capacity to influence vascular remodeling. CONCLUSIONS: Our work is the first to identify an impairment of NK cells in PAH and suggests a novel and substantive role for innate immunity in the pathobiology of this disease

Genome-wide linkage screen for testicular germ cell tumour susceptibility loci

A family history of disease is a strong risk factor for testicular germ cell tumour (TGCT). In order to identify the location of putative TGCT susceptibility gene(s) we conducted a linkage search in 237 pedigrees with two or more cases of TGCT. One hundred and seventy-nine pedigrees were evaluated genome-wide with an average inter-marker distance of 10 cM. An additional 58 pedigrees were used to more intensively investigate several genomic regions of interest. Genetic linkage analysis was performed with the ALLEGRO software using two model-based parametric analyses and a non-parametric analysis. Six genomic regions on chromosomes 2p23, 3p12, 3q26, 12p13-q21, 18q21-q23 and Xq27 showed heterogeneity LOD (HLOD) scores of greater than 1, with a maximum HLOD of 1.94 at 3q26. Genome-wide simulation studies indicate that the observed number of HLOD peaks greater than one does not differ significantly from that expected by chance. A TGCT locus at Xq27 has been previously reported. Of the 237 pedigrees examined in this study, 66 were previously unstudied at Xq27, no evidence for linkage to this region was observed in this new pedigree set. Overall, the results indicate that no single major locus can account for the majority of the familial aggregation of TGCT, and suggests that multiple susceptibility loci with weak effects contribute to the diseas

First narrow-band search for continuous gravitational waves from known pulsars in advanced detector data

Spinning neutron stars asymmetric with respect to their rotation axis are potential sources of continuous gravitational waves for ground-based interferometric detectors. In the case of known pulsars a fully coherent search, based on matched filtering, which uses the position and rotational parameters obtained from electromagnetic observations, can be carried out. Matched filtering maximizes the signalto- noise (SNR) ratio, but a large sensitivity loss is expected in case of even a very small mismatch between the assumed and the true signal parameters. For this reason, narrow-band analysis methods have been developed, allowing a fully coherent search for gravitational waves from known pulsars over a fraction of a hertz and several spin-down values. In this paper we describe a narrow-band search of 11 pulsars using data from Advanced LIGO’s first observing run. Although we have found several initial outliers, further studies show no significant evidence for the presence of a gravitational wave signal. Finally, we have placed upper limits on the signal strain amplitude lower than the spin-down limit for 5 of the 11 targets over the bands searched; in the case of J1813-1749 the spin-down limit has been beaten for the first time. For an additional 3 targets, the median upper limit across the search bands is below the spin-down limit. This is the most sensitive narrow-band search for continuous gravitational waves carried out so far

Somatic mutations of KIT in familial testicular germ cell tumours

Somatic mutations of the KIT gene have been reported in mast cell diseases and gastrointestinal stromal tumours. Recently, they have also been found in mediastinal and testicular germ cell tumours (TGCTs), particularly in cases with bilateral disease. We screened the KIT coding sequence (except exon 1) for germline mutations in 240 pedigrees with two or more cases of TGCT. No germline mutations were found. Exons 10, 11 and 17 of KIT were examined for somatic mutations in 123 TGCT from 93 multiple-case testicular cancer families. Five somatic mutations were identified; four were missense amino acid substitutions in exon 17 and one was a 12bp in-frame deletion in exon 11. Two of seven TGCT from cases with bilateral disease carried KIT mutations compared with 3 out 116 unilateral cases (p = 0.026). The results indicate that somatic KIT mutations are implicated in the development of a minority of familial as well as sporadic TGCT. They also lend support to the hypothesis that KIT mutations primarily take place during embryogenesis such that primordial germ cells with KIT mutations are distributed to both testes

Identification and mitigation of narrow spectral artifacts that degrade searches for persistent gravitational waves in the first two observing runs of Advanced LIGO

Searches are under way in Advanced LIGO and Virgo data for persistent gravitational waves from continuous sources, e.g. rapidly rotating galactic neutron stars, and stochastic sources, e.g. relic gravitational waves from the Big Bang or superposition of distant astrophysical events such as mergers of black holes or neutron stars. These searches can be degraded by the presence of narrow spectral artifacts (lines) due to instrumental or environmental disturbances. We describe a variety of methods used for finding, identifying and mitigating these artifacts, illustrated with particular examples. Results are provided in the form of lists of line artifacts that can safely be treated as non-astrophysical. Such lists are used to improve the efficiencies and sensitivities of continuous and stochastic gravitational wave searches by allowing vetoes of false outliers and permitting data cleaning