The Real Madrid superstar is one of the best players in the world and his talent is clear for all to see. But, these five facts about the Belgian aren’t as well-known.

Hazard was scoring goals before he was even born
Eden Hazard comes from a footballing family, with his younger brothers Thorgan, Kylian and Ethan all playing currently and with his father Thierry and mother Carine both playing football too when they were younger. Carine played in the Belgian women’s first division and stopped when she was three months pregnant with Eden, meaning that he was sort of a part of some of his mother’s final goals before he was born.

Zidane was Hazard's idol as he grew up
Zinedine Zidane is now Hazard’s boss and this must feel surreal every day the Belgian goes to work. As a kid, he grew up admiring Zizou and even possessed a France national team shirt with Zidane’s name and number on the back. Zidane has long been fond of Hazard too, expressing his love of the playmaker’s game long before he was signed by Real Madrid.

Hazard is the youngest Ligue 1 Player of the Year
The Ligue 1 Player of the Year prize is given out at the end of every season to the star of France’s top league and Eden Hazard won this award twice during his time with Lille, claiming it in back-to-back years for his displays in the 2010/11 and 2011/12 seasons. He was just 20 years of age when he won the first one, making him the youngest ever player to claim this award.

Hazard is a New York Knicks fan
As well as his love for football, Hazard is also a big basketball fan. He enjoys the NBA and attends matches in North America when he can. The Belgian even has a team that he supports, having declared himself a New York Knicks fan.

San Diego 1904 FC is partly owned by Hazard
Hazard still has many years of playing at the top level ahead of him, but he has already stepped into the world of football club ownership, doing so with NISA side San Diego 1904 FC. He co-founded it in 2016 along with Demba Ba and other business partners.

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Asia's top football competitions will go ahead this year despite the coronavirus pandemic, a senior official told AFP, although games may have to be played behind closed doors. Windsor John, general secretary of the Asian Football Confederation (AFC), said he was confident that the AFC Champions League and AFC Cup would both be completed. Both tournaments, featuring teams from throughout Asia, Central Asia and the Middle East, are on hold until at least the end of June after COVID-19 shuttered professional sport worldwide.

"Both will be played this year. We still have time," John told AFP, adding that new dates for the competitions may be known by the end of April. However, John did not rule out matches being played without fans "if that's what the health authorities need". The AFC is determined for both tournaments to go ahead "for sporting reasons and to fulfil commercial obligations", he said. His comments came after the AFC on Tuesday announced the indefinite postponement of all matches scheduled for May and June due to the virus.

The Champions League, the region's premier club competition, and the second-tier AFC Cup were both halted in March as the pandemic's spread forced governments to impose strict travel restrictions. Both tournaments are on an increasingly tight schedule, with the 32-team Champions League needing to complete four rounds of group-stage matches in July before the postponed knock-out phase begins in August.

The group phase of the AFC Cup will also have to be completed in a rush once matches resume. The finals for both tournaments -- which traditionally take a break in July, to avoid the worst of the Asian summer heat -- are scheduled to take place in November. Domestic leagues remain on hold around the world, including in China where the virus first emerged, but where football shows no sign of returning despite optimism the outbreak is under control.

Asia's extended shutdown, announced on Tuesday, also affects the two-legged women's Olympic qualifying play-off between China and South Korea, which had already been moved to June 1 and 9. June qualifiers for the men's 2022 World Cup and 2023 Asian Cup had been postponed before the AFC's announcement on Tuesday. Asian football was an early sporting casualty of the coronavirus pandemic, before competitions in Europe -- including Euro 2020 -- and the rest of the world were also affected.

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The father of Paris Saint-Germain star Neymar has said that the Brazilian forward will decide his next career move for himself.

Dismissing claims that he heavily influences his son's key decisions, Neymar Santos Sr said his priority was to provide moral support for the 28-year-old, reports Xinhua news agency.

"He is always the one who chooses which path to take," Neymar Sr said in an Instagram Live video on Wednesday. "We only work administratively: to make sure he has the best contract, to put him in the best home and have the best career management."

He described Neymar's 2013 move to Barcelona as the realisation of a "childhood dream". But the 55-year-old, who has acted as Neymar's agent since 2011, denied speculation the 28-year-old could return to the Camp Nou this summer, insisting he is happy at the Parc des Princes.

In a wide-ranging conversation with Brazilian journalist Beto Saad, Neymar Sr also revealed that the former Santos prodigy was close to joining Corinthians instead of Barcelona.

"We were close to signing a deal. But I said to Neymar, 'Go (to Barcelona) first. Carve out a career there and then we'll talk about it'," he added.

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Leeds United legend Norman Hunter died on Friday at the age of 76 after testing positive for coronavirus. "Leeds United are devastated to learn of the passing of club icon Norman Hunter at the age of 76," the club said in a statement. "Norman was taken to hospital last week after being diagnosed with COVID-19 and despite continuing to battle and the best efforts of NHS staff, he sadly lost his fight earlier this morning," the statement added.

Hunter made his Leeds debut in 1962 when he was just 18 years old. Hunter amassed a huge 726 appearances for Leeds United over a 14 year period, the club's most successful to date, earning the infamous nickname "Bites Yer Legs".

He won a total of 28 caps for England and was in the 1966 World Cup-winning squad, whilst was also the first winner of the PFA Players' Player of the Year in 1974.

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Former Manchester United and Real Madrid midfielder David Beckham rates Barcelona's Lionel Messi higher than Cristiano Ronaldo. Ronaldo succeeded Beckham as Manchester United's No. 7 before arriving at Real Madrid two years after the England captain left the Spanish giants.

Beckham has also experience of playing against a young Lionel Messi in the latter's initial years with Barcelona and faced him once while he was playing for Paris St Germain. "He [Messi] is alone in his class as a player, it is impossible that there is another like him," Beckham told Telam.

David Beckham

"He, like Cristiano Ronaldo, who is not at his level, are both above the rest." Beckham recalled his last match against Barcelona in the quarter-final of the 2013 Champions League. PSG were ahead at one stage at Camp Nou when Messi came on as a substitute. Eventually, Pedro scored and Barca went through on the away goals rule.

"We were leading before Messi came in, and once he came in, Barcelona scored," Beckham said. He was 37 years old by then and ended his illustrious playing career at the end of the season but Beckham said that he did not enjoy losing that tie.

"Although I enjoyed playing at that level at my age, I do not like to lose. Our team played well. In both matches, we did things we should be proud of. We didn't lose against Barcelona, and that is something that should motivate us," he said.

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Liverpool's star footballer Mohamed Salah, 25, has donated a huge amount of money besides food to families in his hometown of Nagrig, a village in the Egyptian city of Basyoun, to help in the battle against the Coronavirus pandemic.

According to a report in British tabloid, The Sun, the Egyptian footballer sent supplies to poverty-hit residents along with some advice on how to stay safe from the virus.

Salah Ghaly, the Liverpool striker's father, said that the village has been sanitised and residents have been given facemasks to prevent the spread of the virus, which has already killed 205 people in the North African country. It is believed that the total amount donated by the Liverpool star is around £405,000 (R3.8 crore).
Mohamed is currently in lockdown like the rest of the UK, where the death toll has crossed 15,000.

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Manchester City striker Sergio Aguero has been using some of his spare time in lockdown to teach British kids how to speak Spanish.

The Argentina international has been signed up by the BBC as part of its home-schooling initiative while educational establishments are closed during the coronavirus pandemic. Aguero is teaching kids how to count in Spanish. His lessons became available on a day kids in Britain would have usually returned to school after the Easter holidays.

Aguero says it's a tough time for children at the moment, and also for parents trying to keep them focused on their education from home. Aguero hasn't played a competitive match since March 8 because soccer is shut down in England and across most of the world during the outbreak.

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Former England and Liverpool goalkeeper David James is convinced that the Reds should be crowned English Premier League (EPL) champions if the 2019-20 season is called off due to the Coronavirus pandemic. It will be Liverpool's first title in 30 years, after narrowly missing out to
Manchester City by one point last season.

The Premier League was suspended in March after Arsenal manager Mikel Arteta and Chelsea forward Callum Hudson-Odoi tested positive for COVID-19.

Liverpool (82 points from 29 games) lead second-placed Manchester City (57 points from 28 games) by 25 points at the top of the points table and are almost certain to clinch the title. Some experts feel that the season should be declared null and void but James, 49, felt that would be unfair on Liverpool. "If they [Premier League] can get games played behind closed doors and finish the remaining fixtures (92 games), the league cannot be cancelled or declared null and void. If, unfortunately, the season does not finish, then Liverpool deserve to be crowned EPL champions as they have earned enough points to claim the crown," James, a football expert panellist on Sony Pictures Sports Network, told mid-day on Tuesday.

Statistical solution

James, who made 53 appearances for England (1997 to 2010), called for the use of algorithms to decide the EPL winner, but said not all clubs may agree here. "The league's organisers should be on the lines of what they do in a cricket match to check the probability of who will be the winner. I believe OPTA (British sports analytics company), who collect statistics in England, have made a statistical prediction of the final EPL table, declaring Liverpool the winner," explained James, who played for the Kerala Blasters (2014) in the franchise-based Indian Super League before graduating to their manager-cum-player in 2018. "Teams which can't secure their Champions League position or fear relegation, would rather see this season declared null and void," he added.

David James

With football across UK suspended indefinitely, the handsomely-paid EPL players have come under pressure to take pay cuts. "The idea of pay cuts is to help the EPL clubs survive. From a business point of view, they need to generate revenue for survival," James explained.

Survival of clubs

"Despite the huge amount of money earned by the clubs from TV rights, right now the money is not being paid due to the lack of televised games. The huge amount wage bill and lack of revenue can break the backs of some clubs. So, pay cuts are vital from the business operations level and to sustain the clubs," said James, who also played for Manchester City from 2004 to 2006. European football too has come to a standstill with the Euro 2020 postponed to next year while the Champions League fixtures are suspended too. European football's governing body UEFA are planning to hold matches in August, but James felt they could do so in the pre-season period next year to avoid a pile-up of fixtures.

"Euro 2020 won't have much effect on the footballing calendar as it is held in summer. But for the Champions League, UEFA should consider a possibility of creating a mini tournament during the domestic pre-season next year to ascertain a winner, rather than hastily conducting the tournament now, leading to a pile-up of matches," said James, who held the EPL record for most clean sheets (169) until Petr Cech (202) surpassed it in 2015.

Fans can visit the official Facebook page of Sony Pictures Sports Network, @SonySportsIndia and watch ‘Sony Ten Pit Stop’ to catch David James from 5.00 PM on April 22, 2020

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Wales attacker Gareth Bale has said that he had donated ?500,000 ($615,000) to the hospital where he was born to help in the fight against the coronavirus pandemic. Real Madrid's Bale, 30, who has won four Champions League titles since joining the Spanish giants in 2013, made the announcement in a Twitter post by the Cardiff and Vale Health Board.

"I just wanted to make this video to thank everybody in the NHS for their hard work and sacrifice during this COVID-19 crisis," he said "The University Hospital of Wales holds a special place in my heart, it's where I was born and it's provided great support to my friends, my family and the wider community. "Me and my family we'd like to show our support. Keep up the good work, you're doing an amazing job and thank you very much," he added.

As of Wednesday 624 people had died from the illness in Wales with more than 8,000 cases recorded. Spain's La Liga has been suspended since March 12 due to the outbreak but football authorities in the country have agreed on a return to protocol for professional players.

League president Javier Tebas last week said play could restart as early as next month, although a fortnight extension of the nationwide lockdown until May 9 announced on Saturday appears to have scuppered those plans.

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A chance to play with him, have lunch and watch a game of football from the owners box. David Beckham, part owner of the Major League Soccer club Inter Miami, is auctioning off all that stuff. Former England captain and Manchester United legend Beckham is doing this as part of the league's participation in the All In Challenge, which raises money for organisations that are helping feed the hungry during the coronavirus pandemic, including Meals on Wheels, No Kid Hungry, America's Food Fund, World Central Kitchen and Feeding America.

The MLS season is suspended from March 12 with the deadly virus causing havoc in the United States. Earlier this month, Beckham had expressed gratitude towards all the frontline workers who are risking their lives in the fight against the coronavirus pandemic, saying it was "another week of hard work". Beckham had taken to Instagram to post a video story in which he was seen clapping along with his family.

"Managed to set the phone up this week to get the whole family showing our appreciation for all the frontline workers and our brilliant NHS. Thank you for another week of hard work. #ClapForOurCarers," Beckham had written in his Instagram story.

The entire world has come to a standstill amid the ongoing coronavirus outbreak. Sports activities have also taken a big hit and almost all the events have been postponed or cancelled, including the Olympics.

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The Argentine forward is a true superstar of the game and one of the most famous players on the planet, but here are some things you might not already know about him.

1. He has scored at least seven goals against every other La Liga Santander team
All LaLiga teams naturally fear Messi when he comes up against them, with the No.10 having netted at least seven times against all 19 of the other sides currently in the top division. His favourite victim is Sevilla, against whom he has a whopping 37 goals in 38 appearances. Over his career, he has faced 40 different clubs in the Spanish top flight, with only three yet to concede against him: Cadiz, Murcia and Xerez.

2. He first played with fellow Barcelona captain Gerard Pique in 2000
Messi and his current Barcelona teammate Gerard Pique have spent most of their footballing lives together. They were both in the same team in Barcelona’s La Masia academy, along with Cesc Fàbregas – part of the so-called “generation of ‘87” and conquered almost every challenge in their path. It was clear from that early age that these players would go on to achieve great things and, although Pique spent time at Manchester United and Real Zaragoza before returning to Barcelona, they have both been in the Blaugrana first-team squad together since 2008, playing 471 matches together. Messi has only played more often alongside Sergio Busquets and Andrés Iniesta.

3. He pays tributes to his grandmother after every goal
The sight of Messi pointing towards the sky with both hands after scoring a goal has become an almost weekly occurrence in LaLiga but not many people know its meaning. It is in fact a tribute to Grandmother Celia, who Messi credits with sparking his interest in football and supporting him as he took his first steps in the game. Sadly, she passed away in 1998 and never saw him play at the top level, but his iconic celebration ensures that her spirit lives on.  

4. He could have played for Spain at international level
Messi has represented Argentina throughout his international career, but he could have been wearing the red of Spain had he accepted an offer to join the national team of the country where he has spent his entire professional career. After spending his childhood in Barcelona, he was eligible to play for the 2010 world champions, but Messi says the idea never crossed his mind. The rest, as they say, is history as he has gone on to become Argentina’s all-time top scorer with 70 goals.   

5. His footballing idol was Pablo Aimar
Many up-and-coming players consider Messi as a role model, but it’s easy to forget that he had an idol growing up too, just like any other aspiring footballer. His was fellow Argentina and former Valencia and Real Zaragoza playmaker Pablo Aimar. They faced each other in LaLiga on several occasions, including on one special night in 2004 when Aimar came up to the 17-year-old Messi, an unused sub on the night, after the game to offer him his shirt. He still treasures that jersey to this day. 

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The Coronavirus-caused lockdown has brought sporting activities to a standstill across the globe with major events being cancelled or postponed. And EPL football manager David Moyes is making the most of the forced break by helping people near his family home on the Lancashire, UK, seaside.

According to a report in British tabloid, The Sun, West Ham's manager David has turned a fruits and vegetables delivery man. "When the virus first broke out, the fruits and vegetables shop in my village were asking for drivers to deliver fruits and vegetables. So I became a driver for the shop. I delivered it to all the people in the neighbourhood. I did it for about four days.

There was a sign in the window saying 'volunteers needed'. My wife was away at the time, I was on my own. I would knock, leave it and just check if they came to get it. I was thinking 'this is great'. I was actually enjoying it," said David.

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Arsenal's squad will be allowed back to their training ground from next week, although the club stressed they would still have to maintain British government guidelines designed to combat the spread of the coronavirus. The Premier League side's players will have access to training pitches but on a strict rotational basis that will see them uphold social distancing measures. "Players will be permitted access to our London Colney training grounds next week," said a club spokesperson. "Access will be limited, carefully managed and social distancing will be maintained at all times.

"All Colney buildings remain closed. Players will travel alone, do their individual workout and return home." This week saw Arsenal become the first Premier League club to agree a coronavirus pay cut with their players as manager Mikel Arteta and his stars slashed their wages by 12.5 percent. There are reports Arsenal, whose yearly wage bill is around £230 million ($286 million), will give players their money back in the event that they bridge an eight-point gap and qualify for the Champions League when football restarts. Football is currently suspended indefinitely in England, with the UK under lockdown.

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João Félix exploded onto the scene at Benfica in 2018 before a huge summer move to LaLiga with Atlético de Madrid. Here are five things you may not know about the Portuguese superstar...

1. His idol while growing up was Kaká
The similarities between the two are clear, both in playing style and appearance… brothers, anyone? But what isn’t so known is that Kaka was actually one of Joao Felix’s biggest idols growing up: the young Felix has spoken of watching YouTube video after YouTube video of the former World Player of the Year. The 20-year-old has also named Portuguese legend Rui Costa among his other inspirations while growing up.

2. Both his parents are teachers
Carlos and Carla, Joao’s parents, are both physical education teachers and he credits them with keeping him centred growing up. He has explained in interviews that his father would give him pep talks before matches and helped him stay focused during his teenage years; at the age of just 13 years he moved away from home to FC Porto’s academy, before later making the move to the capital with Benfica.

3. His first hat-trick in the Europa League was record-breaking
In April 2019, Joao hit the headlines across Europe with a stunning performance for Benfica in a Europa League match against Eintracht Frankfurt. By scoring three times in a 4-2 victory, he became the youngest ever player to score a hat-trick in the Europa League, doing so at the age of just 19 years and 152 days. That broke the previous record set by Marko Pjaca in 2014.

4. Diego Costa has taken him under his wing
From the start of pre-season, Joao and Diego Costa have forged a strong relationship. Costa is known to be a leader in the Atlético de Madrid dressing room and he quickly took the new arrival from Benfica under his wing, spending a lot of time with him and partnering with him in various drills. Both players are native Portuguese speakers, and this has helped the youngster settle in. Perhaps it’s no coincidence that it was Costa who assisted Joao’s first official goal for Atleti, against Eibar back in September.

5. His brother Hugo is also a highly rated prospect
Hugo Felix, João’s 16-year-old brother, is also highly rated and is doing well at Benfica’s academy. João was even able to celebrate goals with his brother last season, as Hugo was a ball boy at the Estádio da Luz on some matchdays. One particular goal that he scored against Vitória Setúbal ended with an emotional embrace between the siblings.

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Argentina footballer Paulo Dybala has tested coronavirus positive for the fourth time in the last six weeks, according to media reports. This could come as a big blow for Juventus as Serie A had allowed players to return to individual training from May 4. "Spanish programme El Chiringuito stated Dybala has had four tests across the last six weeks and the latest one was positive again," the report in The Sun stated. Dybala was one of the first footballers to contract the virus along side Juventus teammate Daniele Rugani. In March, Dybala had taken to instagram to reveal he and his girlfriend both had tested positive.

Italy has been one of the worst hit countries in the world due to coronavirus pandemic as more than 200,000 people have been infected while in excess of 27,000 individuals have lost their lives so far. Italian sports minister Vincenzo Spadafora had earlier suggested that it would be easier to end the football season and if indeed the leagues do start, it should be a gradual process.

"It would be much easier to end the season immediately and the scientific community would agree," he wrote on his Facebook page. "Carrying on the world of football is a very important thing for our country, but we must do it safely. Remember when Serie A didn't stop? How many teams have gone into quarantine? The [Italian Football Federation] FIGC submitted a protocol and it was considered.

"Today we're at the end of April, we can't know for sure how the virus will evolve and how the rules will be respected, therefore we can't know when the season will resume.

"We've been working to resume training from May 18, but that doesn't mean the leagues will start up again," he added.

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Manchester City's Brazilian footballer Gabriel Jesus is doing his best to help his country during the COVID-19 pandemic. Gabriel has donated three tonnes of food to the poor in Brazil's notorious favelas from where he emerged as a footballer. He recently arranged for 400 food baskets to be delivered to Sao Paulo's Jardim Peri neighbourhood where he grew up.

The player has also got together with famous Brazilian singer Beto for a song that has been uploaded on YouTube to raise funds.

Gabriel, 23, has reportedly helped raised £370,000 (approx Rs 3.7 crore) alongwith fellow footballers to help some 32,000 families with relief material. Back in Brazil, when he played for Palmeiras as a teenager, Gabriel, then 17, earned around £3,500 a year (approx R3 lakh) before he went on to bag a whopping £75,000-a-week (approx Rs 67 lakh) contract with Manchester City in 2016.

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Argentine football legend Diego Maradona has asked the "Hand of God" to deliver the world from COVID-19 pandemic and allow normal life to resume. The World Cup winner referred to his hand-assisted goal in the 1986 World Cup after Argentine football chiefs voted to end the current season as well as suspend relegation, saving Diego-managed bottom club Gimnasia from the drop.

"Today this happened to us and many people say it is a new Hand of God," said Diego, alluding to his infamous goal against England. "But today I'm asking for that hand to end this pandemic so people can go back to living their lives, healthy and happy." Then-Argentine captain Diego responded to the controversy over his goal at the World Cup in Mexico by saying "it was the Hand of God!"

Argentina went on to beat England 2-1 in the quarter-final. On being thrown a lifeline by the suspension of the season, he told Argentine daily Clarin: "It's not the ending we had wanted, we were convinced we could save ourselves on the pitch."

Argentina has been in lockdown since March 20 against the Coronavirus, which by early Wednesday had infected 4,114 people with 207 deaths.

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Brit singer Perrie Edwards, 26, is enjoying every moment alongside her footballer boyfriend Alex Oxlade-Chamberlain, 26, during this Coronavirus-caused lockdown in the
United Kingdom.

"I feel like I'm really enjoying this [lockdown], I can't lie. I'm having the time of my life. I've never spent so much time with my boyfriend. I've never spent so much time in my house," Perrie, who is part of the British all-girl group Little Mix, told Los Angeles radio station KII-FM.

"It's like I've never had just so much time on my hands to do stuff that I've always wanted to, so it has been nice," added Perrie, who began dating the Liverpool star in 2016.

The couple have been regularly uploading pictures and videos, dancing together on social media, while Perrie has even performed a few songs.

Meanwhile, Alex too has been enjoying all the attention and recently said that Perrie is the "perfect wifey."

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Argentine footballer Paulo Dybala has tested positive for Coronavirus for the fourth time recently. His pop-star girlfriend Oriana Sabatini has also contracted the virus.

However, the couple have continued to keep their spirits high despite the setback. The Argentine pair have been constantly posting pictures and videos on social media to keep themselves and their fans entertained.

In one such post, the Juventus star and Oriana are seen honing their PlayStation skills.
In another video, the Argentine football star is seen working out in his home gym and simultaneously joining in a TikTok dance routine with Oriana.

In yet another video, Paulo is playing the piano while Oriana is singing. Some of Paulo's football pals like Douglas Costa, Claudio Marchisio and Nicolas Tagliafico have been impressed with his musical ability and even commented on the video.

Paulo and Oriana, the niece of Argentine tennis legend Gabriela Sabatini, first met in 2017 but announced their relationship only after the 2018 FIFA World Cup in Russia.

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Algeria international Farid El Melali will be tried for indecent exposure after allegedly masturbating in public, AFP learned on Tuesday on the Angers winger's 23rd birthday. El Melali was questioned by police in Angers late on Monday after his neighbours claimed they caught him exposing himself in front of a building where a woman was staying.

The forward admitted to police to having an "inappropriate attitude", according to his lawyer Sandra Chirac-Kollarik, and thought he was alone in the courtyard of the building. "He wasn't targeting anyone, and wasn't aggressive towards anyone," Chirac-Kollarik said. The public prosecutor's department said El Melali had committed a similar act in April but the same victim was unable to identify the individual.

El Melali, who signed a new contract with the Ligue 1 club on Monday, was released but will face trial in terms of an appearance prior to an admission of guilt. His side, who he joined in August 2018, said they had taken note of his situation and added they "would wait for the decision." In February, the outfit from western France's president Said Chabane had been questioned for "aggravated sexual aggression" following accusations from within the club.

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A video of Hertha Berlin forward Salomon Kalou shaking hands with his team-mates "shocked" key German politicians, who are set to decide Wednesday whether the Bundesliga can resume next month. "The video has done the German league (DFL) and professional football a disservice," Anja Stahmann, chairwoman of Germany's regional sports ministers, told radio station RBB on Wednesday. "I have heard from colleagues that they are shocked and shaken.

"We were struck by great doubts when we watched the video," admitted the sports senator for the state of Bremen. "I got the impression that good rules were being written down on paper, but that they were not actually being lived out." The Bundesliga is set to be given the green light by the government on Wednesday to resume later this month behind closed doors and with strict hygiene measures in place.

Germany's regional sports ministers have already approved the Bundesliga's plans to resume, but Stahmann said Ivory Coast international Kalou's video left a bad impression. "Some people think the Bundesliga has lost its grip in times of a pandemic," Stahmann added. On Monday, the former Chelsea forward was suspended by Hertha after posting a video to Facebook showing him greeting team-mates and club employees with handshakes, flaunting hygiene guidelines laid out by the league. Kalou apologised for disregarding the social distancing rules, saying: "it was a big mistake".

The 34-year-old also said he could understand how his video, shot in the dressng room, caused shockwaves as the league was seeking permission to return to action. Kalou has scored 48 goals in 151 Bundesliga games for Hertha, but is out of contract at the end of the season and could have played his last game for the club. "It was respectless and I want to apologise for that sincerely," he added.

"But I am about more than those five bad minutes that people see of me in the dressing room." However, Kalou's video drew criticism from the top of the German government. Health minister Jens Spahn said it was "right" that Hertha suspended Kalou and there were "consequences after the video".

Bavaria's premier minister Markus Soeder said the league has developed an "excellent" hygiene concept but "there are individual players, as we have read, who are behaving very, very poorly".

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The Spanish football league is all set to resume in June and La Liga's India managing director Jose Antonio Cachaza has revealed that they will resort to maximum testing of players to allay any fears of them contracting COVID-19.

Spain is one of the worst hit countries with around two lakh COVID-19 cases till date.

Most La Liga teams have been allowed to return to training this week after the government eased lockdown restrictions. However, the fear of contracting the Coronavirus is widespread, said Cachaza, for which a four-phase de-escalation programme is being introduced to ensure all players are free of the infection.

"The current week is only for testing of the players and preparing the grounds," Cachaza said in an online media interaction from Spain.

Jose Antonio Cachaza

"Once players are fit to play, we will disinfect the venues. All matches will be played behind closed doors with a maximum of 250 people to avoid any unwanted situation," he added.

When asked what happens if a player tests positive once the season starts, Cachaza said: "That can always be the case. If you see the Bundesliga, they are about to start their season but still have positive cases. We will be ensuring testing at regular intervals as well to keep a check on players." Unlike the English Premier League and the Bundesliga, the La Liga is yet to finalise on a date to resume the season as Cachaza said they are awaiting authorisation from the Spanish government. "We are in constant talks with the government and as of now, we have authorisation to only start with training. Next week, the players will be allowed to train on their own, with a maximum of six players on the pitch. The following week [May 18 onwards], players will be permitted to train in small groups before a return to larger team sessions,"2020-05-08 Cachaza explained.

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German professional football is going to return to action on May 16 to 18 with its first and second tier getting back underway. League association CEO Christian Seifert announced the permitted re-start is planned without games on Friday evening but contains two rounds of matches during the week. "We wanted to follow the wording in the orders of politics strictly," the 50-year-old commented, reports Xinhua news agency. All games will be run behind closed doors.

The season was interrupted mid-March due to the coronavirus crisis. Nine rounds remain plus one postponed match. German Chancellor Angela Merkel and the 16 federal state prime ministers gave the green light for a restart on Wednesday based on a comprehensive hygiene concept. Most of the 36 clubs voted for the earliest possible start. At least two sides, such as Werder Bremen and FSV Mainz 05, demanded a start one week later to gain time for additional training.

Seifert announced the season is to be continued with matchday 26, which contains the delicate derby of Borussia Dortmund against the FC Schalke 04 on Saturday. Six games are notified for Saturday, two on Sunday and one on Monday evening. All match-days contain a so-called late-game in the evening. The table leaders Bayern Munich face an away game against league newcomer Union Berlin Saturday evening.

The season's last games are planned to take place on June 27 to 28. Seifert indicated the Champions League final could be run around the end of August. The German Cup has to be rescheduled. To address parts of the demands of Bremen, their game against Bayern Leverkusen is scheduled for Monday on May 18. The federal state of Bremen was one of the last spots allowing training in smaller groups.

All 36 clubs took up full team training this Thursday. From Saturday on, all clubs attend an obligated seven-day-long quarantine. Players, staff, and family members will undergo a diverting number of tests. Referees are going to be tested by next week. Seifert said football concept could be a blueprint for other team-sports, fighting sports and athletics as well as for orchestras and theaters.

Clubs and association are in close contact with fan groups to avoid gatherings around the arenas. Therefore, negotiations take place with pay-tv broadcasters to provide certain games on free tv.

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Gold has indeed proven itself as an effective hedge against any downside risk. It has seen a sharp rise in the price rally since the first case of Novel Coronavirus was reported in November 2019.

In the beginning of March, gold prices fell marginally, however it is on the upswing and has retained its level above Rs 40,000 per 10 grams.

Graph: Gold's rising uptrend

Gold started to ascend last year when the US and China trade talks began and escalated in trade war, followed by similar trade wars of the US with other nations.

These events have proved to be favourable for the momentum of the price of Gold. It played its role of a crucial hedge and store of value when other asset classes had witnessed high volatility and posted marginal returns.

Some of the other factors that have supported gold are...

• The outbreak of COVID-19 with no evident containment yet
• Economic uncertainty and fears of a virus-led global recession
• Global GDP growth revised downwards and for across regions
• Easy monetary policy action (of reduction in interest rates and stimulus packages) and an accommodative stance adopted by the central banks across the world to support growth
• A crash in the oil markets due to lack of demand and excess supply with storage problems
• A record-high global debt-to-GDP of nearly US$ 255 trillion (over 322% of global GDP) - 40 percentage points higher than at the onset of 2008 global financial crisis according to the Institute of International Finance (IIF), as the world is fighting the COVID-19 pandemic
• The US Presidential elections later this year, in November 2020
• Increased stock market volatility
• The potential risk to the inflation trajectory.

[Read: Coronavirus Has No Antidote. Your Bad Investments Could Have.]

Besides, the lockdown brought upon due to COVID-19 pandemic is going to hurt the economy for a couple of quarters badly which will amplify the credit risk. The economic activity will slow grind to full capacity, prompting furloughs and pay cuts, and job losses across sectors, which will affect the credit line as the number of defaulters will rise because cash strapping will be seen.

Recognising the risk stemming from the bottom hit economy, where the growth projections by the IMF are almost 1.9% due to the CoVID-19, the NPAs of banks and NBFCs are expected to increase.

[Read: How the COVID-19 Extended Lockdown Has Made Investments in 'Banking Funds' Very Risky]

Until the COVID-19 pandemic is contained and economic uncertainty prevails, the spotlight will continue to be on gold owing to the financial uncertainty it brings along. Even the IMF Global Financial Stability report highlights an increase in the level of risk among multiple global metrics and, therefore, the importance of owning gold in one's portfolio.

Hence, in my view, in the current situation consider allocating some portion of your investment portfolio to gold and its equivalents. This year buying gold in a physical form from your preferred jeweller or gold merchant may not be possible amidst the COVID-19 extended lockdown. But you can always consider Gold Exchange Traded Funds, Gold Saving Funds, Sovereign Gold Bonds, and/or Digital Gold, which are smart and unconventional ways of investing in gold.

Recently the Government of India, in consultation with the Reserve Bank of India, decided to issue Sovereign Gold Bonds. The Sovereign Gold Bonds will be issued in six tranches from April 2020 to September 2020 as per the calendar specified below:

Each of the tranche is offered for a limited subscription period, having a maturity tenure of 8 years and a lock-in period of 5 years

With an initial investment amount of Rs 20,000, resident individuals, Hindu Undivided Families (HUFs), Trusts, Universities and Charitable Institutions can subscribe to SGBs. The application can be also made by the guardian on behalf of the minor. One can purchase units from the secondary market as well.

The issue price of the SGB will be Rs 50 per gram less than the nominal value when applied online and the payment against the application is made through digital mode.

On maturity, the Gold Bonds shall be redeemed in Indian Rupees and the redemption price shall be based on a simple average of the closing price of gold of 999 purity of previous 3 business days from the date of repayment, published by the India Bullion and Jewellers Association Limited.

In order to encourage passive but direct gold investment, as an alternative to purchasing physical gold, Modi led Government sanctioned a Sovereign Gold Bond Scheme in November 2015. Under this scheme, investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by the Reserve Bank on behalf of Government of India.

With the Sovereign Gold Bond Scheme, the risks and costs of physical storage are eliminated. Plus, it is free from issues like the costs of making charges and purity, as in the case of gold in jewellery form. But these bonds are held in the books of the RBI, or in demat form to eliminate even the risk of loss of scrip, etc.

Sovereign Gold Bonds will generate market returns linked to the price of gold, so there may be a risk of capital loss if the market price of gold declines. Moreover, these bonds will provide interest income at the rate of 2.50 per cent (fixed rate) per annum on the amount of initial investment to investors and will be redeemable.

The minimum investment allowed is 1 gram, while the maximum buying limit is a subscription of 4 kg for individuals, 4 kg for Hindu Undivided Family (HUF), and 20 kg for trusts and similar entities notified by the government from time to time per fiscal year (April - March).

These bonds are sold through offices or branches of Nationalised Banks, Scheduled Private Banks, Scheduled Foreign Banks, designated Post Offices, Stock Holding Corporation of India Ltd. (SHCIL), and the authorised stock exchanges, either directly or through their agents.

Do note, that the interest on the bonds is taxed as per the provisions of the Income-tax Act, 1961. If you hold the SGB till maturity the capital gains tax on redemption of SGB is exempted. But if you sold the bond in the secondary market after three years, long term capital gains (LTCGs) tax is applicable and it will be taxed at 20 per cent with indexation. And if sold before three years, a short-term capital gains (STCGs) tax will be applicable according to the income tax slab.

What should the investors do?

Defeating the Coronavirus and surviving is everyone's core focus and having liquidity, those who have an adequate contingency fund are looking for investments.

Equity and debt markets are yet to see any signs of revival despite the stimulating relief measures provided to uplift the slowing of economy but investing in gold can prove to be worthy for your portfolio.

[Read: What Could Be the Potential Impact of a Lockdown on Your Mutual Fund Portfolio? Know Here...]

Even the bond prices were at all-time lows, which are inversely proportional to gold as well. In my view allocate at least 10-15% of your entire investment portfolio to gold and hold it with a long-term investment horizon.

Remember gold offers an effective hedge during global uncertainty and a shield against inflation. Most importantly in your portfolio, it serves as a diversifier.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

During the COVID-19 lockdown, individuals are losing patience -- moving freely and not following the necessary social distancing. This lack of civic sense and maturity on their part is weakening our fight against the deadly contagion pathogen.

The capital markets, as a result, also has witnessed intense volatility and bears are running lose. Certain sections of investors, however, have shown tremendous maturity during these challenging times.

At a time when Foreign Portfolio Investors (FIIs) have net sold or dumped Indian equities (owing to markets worldwide falling sharply and margin calls being hit), domestic fund managers are looking for value-buying opportunities in the carnage of the markets.

It is also heartening to see retail and High Net-worth Individuals (HNIs) buying into various equity-oriented mutual funds in a lump sum as well as the SIP (Systematic Investment Plan) mode. Monthly SIP inflows have touched a record high in March 2020 and the SIP folios, too, surged to 3.12 crore.

However, in debt-oriented schemes, investors seem to be pressing the panic button. The mutual fund industry recorded a net outflow of Rs 1.95 trillion in March 2020. Barring Overnight Funds and Gilt Funds, all other sub-categories of debt mutual funds have reported an outflow in March 2020.

Advance tax payment obligations, deterioration in asset quality, potential risk of defaults in the COVID-19 lockdown, and heightened volatility in the Indian debt market are some of the key reasons for outflows from debt-oriented mutual schemes.

[Read: Why Investors Pulled Out Money from Debt Mutual Fund Schemes in March]

The massive outflows were also seen from the Liquid Funds and Arbitrage Funds.

Table 1: Action in March 2020

Unprecedented redemptions in the Arbitrage Funds and Liquid Funds, as well as the net inflows recorded by the overnight funds, suggest that investors preferred safety over returns. As you know, liquidity is a key concern as the world continues to fight the COVID-19 pandemic.

Some arbitrage schemes such as Tata Arbitrage Fund and ICICI Prudential Equity-Arbitrage Fund had stopped taking in fresh subscriptions in the third week of March 2020 for the lack of arbitrage opportunities as markets faced broad-based selling.

But now markets are finding some sort of stability and bouncing back -- rallied over 20% from March lows - although the bears continue to run loose.

So, is it a time to consider arbitrage funds again?

Yes, I think so.

Arbitrage Funds aims to exploit the price differential in two different segments (spot and futures or cash and derivatives) of the equity market. They buy stocks in the spot market and sell in the future market simultaneously thereby making gains with the price differential (called the spread).

The differential usually is in sync with the prevailing interest rates in the economy; but depending on the market volatility, it could sometimes be higher as well. That being said, these are short-term opportunities that spring up due to lack of information to a set of market participants in one of the markets.

The capital market regulator's mutual fund categorisation and rationalisation mandates that an Arbitrage Fund must strictly follow the arbitrage strategy and invest at least 65% of its total assets in equity & equity related instruments.

Since the transactions are in either direction, the positions are completely hedged. And the remaining 35% of the total asset is deployed in debt and money market instruments.

In March 2020, when the stock futures started quoting at a discount to the spot prices in the cash market, it was a concern. But now that we have seen some sharp up-moves in the Indian equity markets as the government has done relatively well in containing the spread of the deadly virus (compared to other nations) and thanks to the prompt fiscal measures also have been taken -- both by the Ministry of Finance (the Rs 1.75 trillion package) and the Reserve Bank of India (by reducing policy rates sharply, keeping monetary policy stance 'accommodative as long as it is necessary', and ensuring enough liquidity in the system) -- in my view, it would be perceived positively by the markets in times to come and enough arbitrage opportunities would be available. It is possible that Arbitrage Funds may even perform a tad better vis-a-vis Liquid Funds.

Table 2: Report Card of Arbitrage Fund, Liquid Funds and Short Duration Funds

Over the last one year, the returns generated by Arbitrage Funds have been quite satisfactory. In fact, these funds have outperformed those clocked by Liquid Funds. The 3-month returns clocked by Arbitrage Funds have been almost at par with Liquid Funds.

Do note that an Arbitrage Fund carries low risk and the returns depend on the market conditions and fund manager's ability to reap rewards from arbitrage opportunities.

Short-Term Capital Gains (i.e. realised profits within a year) on arbitrage funds are taxed at 15%, while the Long-Term Capital Gains (i.e. gains made after staying invested for more than a year) are taxed at 10% for gains above Rs 1 lakh in a financial year.

To park money for the short-term for an investment time horizon up to 1-year, you may consider investing in an Arbitrage Fund.

And if you have an extreme short-term time horizon (of 3 to 6 months), consider a Liquid Fund with high-quality debt papers, which does not have high exposure to Commercial Papers (issued by private entities).

Alternatively, if you wish to park in a much safer category, you would be better off investing in an Overnight Funds.

Happy Investing!

PS: If you wish to select worthy mutual fund schemes, I recommend you to subscribe to PersonalFN's unbiased premium research service, FundSelect.

Additionally, as a bonus, you get access to PersonalFN's popular debt mutual fund service, DebtSelect.

Each fund recommended under FundSelect goes through our stringent process, where they are tested on both quantitative as well as qualitative parameters.

Every month, PersonalFN's FundSelect service will provide you with insightful and practical guidance on equity mutual funds and debt schemes - the ones to Buy, Hold, or Sell.

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Author: Rounaq Neroy

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

COVID-19 has started showing its impact on the mutual fund industry. Few days ago I mentioned in my article, Debt mutual funds witnessed massive outflows of Rs 1.95 trillion in the month of March.

Though we could attribute most of that outflow to corporates redeeming funds to meet their quarter end obligations, high volatility and uncertainty as consequences of the pandemic could have also played a major hand in the redemption pressure for debt schemes.

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FII have been redeeming investments heavily in equity and debt segment ever since WHO declared COVID-19 a pandemic. In March, FIIs pulled out Rs 60,375 crore from the debt market.

High redemption and lack of buying interest has made debt mutual fund schemes vulnerable, especially those with higher exposure to low rated instruments.

This instability has claimed its first casualty in debt mutual funds...

Franklin Templeton Mutual Fund (FTMF) has decided to wind down six of its debt schemes with effect from April 23, 2020 due to COVID-19 related market dislocation. This is something that is unheard of in the mutual fund industry and has perplexed many investors and advisors.

The schemes that are wound up are:

• Franklin India Low Duration Fund
• Franklin India Dynamic Accrual Fund
• Franklin India Credit Risk Fund
• Franklin India Short Term Income Plan
• Franklin India Ultra Short Bond Fund
• Franklin India Income Opportunities Fund

Together these schemes have an AUM of 30,854 crore as on March 31, 2020. Notably, these are the very schemes which in the past had to create segregated portfolio for its exposure to downgraded papers of Vodafone Idea and Yes Bank.

What led to the move?

According to a statement to investors from FTMF, "Despite several measures taken by the Reserve Bank of India (RBI), the liquidity in certain segments of the corporate bond markets has fallen-off dramatically and has remained low for an extended period. In this scenario, mutual funds are facing unprecedented liquidity challenges due to a variety of factors-rising redemption pressures due to heightened risk aversion, mark to market losses following a spike in yields and lower trading volumes in the bond markets. These factors have together caused a significant and worsening liquidity crunch for open-end mutual fund schemes investing in corporate credits across the credit rating spectrum."

The schemes had to resort to continuous borrowing to fund redemptions during this time, and were unable to repay the borrowings through sale of portfolio securities due to the prevailing market environment. The Investment manager did not believe it was prudent to continue funding redemptions through potentially increasing levels of borrowings.

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FTMF follows a high-risk high-return strategy for the above mentioned funds - Meaning a major part of its portfolio is exposed to lower rated securities (rating below AAA). The market disruption due to the virus outbreak has impacted these securities the most.

Under conditions of high redemption pressure, mutual funds sell their liquid assets to meet the demand, leaving the portfolio highly exposed to illiquid assets.

Thus, investors who choose to stay invested are at a disadvantage here.

Anticipating continued liquidity stress to the funds, the fund house thought winding up the scheme is the only viable option for the unitholders to minimize erosion of value.

Table: Details of schemes being wound up

What does it mean for investors of these schemes?

Investors of these schemes will not be able to purchase/redeem investment, switch to other schemes or do systematic transactions. In short their funds will be locked. The fund will not charge any management fees for the funds that are being wound up.

The fund house will rely on coupon payments, maturity value of underlying securities, and selling of securities at realisable value. While the fund house expects to realise most of the proceeds as per maturities, there may be some low rated securities that may even default on the due date. The fund house may create segregated portfolios for such securities and pay back as and when the money is realised.

It will be prudent to check the average maturity of portfolios of each fund and expect major repayment within that period.

What should investors in debt funds do?

Debt mutual fund Investors are not as confident, due to incidents of exposure to toxic papers in the past. This event could make them even more wary about their investment in debt schemes. As a consequence, there may be some panic selling in other debt schemes by investors worried about their funds getting locked.

However, instead of taking any hasty decisions, it would be a great idea to check your funds for the quality of assets it holds.

Choose a fund house that follows prudent investment process and stringent risk-management system. In these uncertain times, it would be wise sticking to liquid funds and overnight funds for the fixed-income part of your portfolio. Alternatively, if you prefer safety of capital, invest in Bank fixed deposits.

Our friends at Quantum Mutual Fund have highlighted the secret behind their debt management strategy which has helped them provide safety and liquidity to investors when it comes to investing in quantum funds. Don't Worry, Quantum Liquid Fund always aims for Safety and Liquidity

The way ahead...

While the fund house has done this to protect investors' interest, it has made the funds illiquid from the investors' point of view. Many investors may lose faith in debt funds for their short-term goals.

Going further, investors may have to consider liquidity risk due to AMC action, while investing in any high credit risk oriented debt funds.

It is time for the regulator to step up and clarify the illiquidity part for other debt schemes out there to investors. Moreover, it needs to provide a framework of strict guidelines to restrict fund managers from putting investors' hard-earned money at risk by exposing them to low rated securities for higher yield.

Meanwhile, AMFI has assured investors that a majority of the fixed income fund assets is invested in superior credit quality securities, and the schemes have appropriate liquidity to ensure normal operations. It further stated that the industry remains fully committed to the investors' interests and there is no need for them to panic and redeem investments.

Author: Divya Grover

This article first appeared on PersonalFN here.

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PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

Unnerving movements for debt mutual funds investors!

Just last week my colleague, Divya explained the fiasco at Franklin Templeton Mutual Fund, which took a decision to abruptly wind down six debt mutual fund schemes, namely:

• Franklin India Low Duration Fund
• Franklin India Dynamic Accrual Fund
• Franklin India Credit Risk Fund
• Franklin India Short Term Income Plan
• Franklin India Ultra Short Bond Fund
• Franklin India Income Opportunities Fund

In all, the above debt mutual fund schemes had an AUM of Rs 30,854 crore as of March 31, 2020.

The fund house cited, "severe market dislocation and illiquidity in the fixed income space" caused by the COVID-19 pandemic, as the reason behind the decision.

Investors in these schemes are now left in the lurch: they cannot sell (nor buy) these funds and will have to rely on the fund house to get back their hard-earned money. Investors will have to hold their investments in these schemes until liquidity is available to the mutual fund house by either selling securities in the fund's portfolio or receiving maturity proceeds.

Currently, a fact is, not just Franklin Templeton Mutual Fund, but debt mutual fund schemes of many other fund houses are have a remarkable exposure to stressed assets.

According to portfolios disclosed on March 31, 2020, mutual funds collectively held Rs 1.38 trillion of exposure to debt securities issued by Non-Banking Financial Companies (NBFCs). Approximately Rs 51,000 crore of the exposure in debt securities has a maturity profile of less than 3 months; and now, mutual funds fear that there will be defaults.

NBFCs and other corporate borrowers claim that they do not have enough liquidity to fulfil their obligations and have requested for additional time. Given that, rating downgrades from rating agencies look likely.

However, some companies are playing smart: they are approaching the Courts to prevent a rating downgrade, plus seeking a stay on sale of pledged shares. Of course, they are well within their right to approach the judicial authority or Courts and contest.

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But the capital market regulator, seems to be in no mood in offering them any leeway. On the contrary, the regulator is asking the mutual fund industry to act against the issuer of securities who are possibly carrying high credit risk; facing asset quality problems.

Delays in repayments would mean the creation of more side-pockets by mutual funds. And in my view, more the losses investors suffer, more frustrating it will be for mutual fund houses and their investors. Eventually retail and High Net-worth Individuals, particularly, will lose confidence and may not be keen to invest in debt funds.

If you are wondering what has gone wrong, here's everything you may like to know about liquidity, credit risk and the exposure of mutual funds to corporate debt in the present scenario.

If you remember, the capital market regulator had mandated large corporations to source at least 25% of their borrowings from the bond markets from the beginning of FY 2019. This move was expected to deepen Indian bond markets and reduces the stress on banks. Just a year later, the same move is proving fatal for companies that went to the bond markets to raise money.

Now that the COVID-19 lockdown has forced many business units to shut off temporarily or operate much below their optimal operational capacity with a skeletal staff, companies, including the large organisations that relied heavily on debt markets, are finding it difficult to honour maturity claims on Commercial Papers (CPs), Non-Convertible Debentures (NCDs), and Bonds.

They were hoping for an 'at-par treatment' with Banks when the Reserve Bank of India (RBI) offered a moratorium period to borrowers. But the RBI circular came to them as a shocker. The devil was in the details.

On March 27, 2020, the RBI issued a notification allowing a three-month moratorium on all outstanding term loans and working capital facilities on account of disruptions caused by the outbreak of coronavirus. This circular did not cover around 10 thousand NBFCs, who mainly depend on CPs, NCDs, and Bonds for their funding requirements.

As far as NBFCs are concerned, the RBI has already provided them with a liquidity facility through the banking channel. The RBI directed banks to utilise funds infused under Targeted Long Term Repo Operations (TLTRO) facility to invest in 'investment-grade' CPs, NCDs, and Bonds issued by NBFCs. Also, RBI mandated banks to allocate 50% of Rs 50,000 crore of liquidity introduced by way of TLTRO 2.0 to small and mid-size NBFCs and small finance banks.

But NBFCs seemed not too happy with just liquidity and many of them are now approaching courts to prevent rating downgrades. This is not a best practice for the industry, although fund houses may be well within their rights to contest.

Recently, Indiabulls Housing Finance was successful in receiving the interim order from Delhi High Court, throttling any coercive action against the housing finance company for its inability to repay its bondholders. The Delhi High Court will hear the case further on May 19, 2020.

This has added to the worries of mutual fund houses that now fear other NBFCs will follow the same path.

The capital market regulator, only recently (a few days ago) following the three moratorium by RBI (due to disruptions caused by COVID-19 pandemic) has relaxed the valuation norms for debt and money market instrument held by mutual funds vide a circular dated April 23, 2020, wherein it states as under:

• Based on assessment, if the valuation agencies appointed by AMFI are of the view that the delay in payment of interest/principal or extension of the maturity of a security by the issuer has arisen solely due to COVID-19 pandemic lockdown and/or in light of the moratorium permitted by Reserve Bank of India (RBI) (vide notification no. RBI/2019-20/186, dated March 27, 2020) creating temporary operational challenges in servicing debt, then valuation agencies may not consider the same as a default for the purpose of valuation of money market or debt securities held by Mutual Funds.
  
  However, in the scenario, as stated above, if there is any difference in the valuation of securities provided by two valuation agencies, the conservative valuation shall be accepted.

But then what is the point of coming up with these valuation norms as an afterthought, and not in close synchronisation when the RBI came with its notification a month ago?

The damage now is already done and companies are anyways approaching the Courts to prevent a rating downgrade.

Let's say shares of a company are pledged and to recover the proceeds -- if they cannot be sold due to a court order -- then such lending would be as good as unsecured lending.

Also, why should that not be construed as an instance of deviation from the stated fundamental attributes of a debt mutual fund scheme? After all, mutual fund investors invest in debt fund schemes taking into account a certain level of risk. Change in the risk profile of a scheme is a change in the fundamental attribute/s.

According to India Ratings, NBFCs having the asset base of Rs 500 crore to 5,000 crore, largely fall between "A" and "BBB" rating categories.

The mid-path could be a decision on payment or deferring the payment in consultation with all stakeholders, including debenture trustees. The industry will require a blanket resolution because a case-to-case resolution approach is cumbersome and may create more chaos.

Unless the RBI takes a clear stance on NBFCs and other financial institutions, mutual fund houses are likely to feel the heat of redemptions. Suppose, there's no further statement issued by the banking sector regulator; mutual funds will have to be prepared to handle large-scale defaults, which might look inevitable. After all, a majority of NBFCs' customers are retail borrowers and they enjoy a moratorium on the EMI payment for 3-months. This has been the trickiest part for NBFCs.

While COVID-19 outbreak has been the genuine reason for the potential defaults this time, asset-liability mismatches of NBFCs are well-known. Many NBFCs have gone overboard with cheap credit available during stable market conditions. Their credit underwriting has been questioned widely. The industry has also witnessed belly-up instances such as IL&FS and DHFL. Many mutual fund houses have burned their fingers badly in such defaults.

At the time of writing this piece, to ease the liquidity pressure on mutual funds, the RBI today decided to provide a special liquidity facility of Rs 50,000 crore for mutual funds. Under this facility, the RBI will conduct repo operations of 90 days tenor at the fixed repo rate. This will be on-tap and open-ended, and banks can submit their bids to avail funding on any day from Monday to Friday (excluding holidays). The scheme is available from today i.e., April 27, 2020, till May 11, 2020, or up to utilization of the allocated amount, whichever is earlier. The Reserve Bank will review the timeline and amount, depending upon market conditions.

The RBI has stated further that the liquidity support availed under the Special Liquidity Facility for Mutual Funds shall be used by banks exclusively for meeting the liquidity requirements of mutual funds by, 1) extending loans; and (2) undertaking outright purchase of and/or repos against the collateral of investment-grade corporate bonds, CPs, debentures and certificates of Deposit (CDs) held by mutual funds.

Having taken this measure, keep in mind that it does not make investing in debt mutual funds risk-free. Considering the prevailing investment environment, you should stay away from mutual fund schemes whose portfolio characteristic appears compromised. Also, avoid credit risk funds and corporate bond funds as they are likely to be more vulnerable amidst the financial crisis followed by COVID-19 pandemic.

As a thumb rule: Choose mutual fund schemes from fund houses that follow prudent judicious investment processes and stringent risk-management systems.

In these uncertain times, it would be wise sticking to liquid funds and overnight funds while considering debt funds.

Our friends at Quantum Mutual Fund have highlighted the secret behind their debt management strategy which has helped them provide safety and liquidity to investors when it comes to investing in quantum funds. Don't Worry, Quantum Liquid Fund always aims for Safety and Liquidity.

As with all financial matters, better be safe than sorry!

PS: If you wish to select worthy mutual fund schemes, I recommend you to subscribe to PersonalFN's unbiased premium research service, FundSelect.

Additionally, as a bonus, you get access to PersonalFN's popular debt mutual fund service, DebtSelect.

Each fund recommended under FundSelect goes through our stringent process, where they are tested on both quantitative as well as qualitative parameters.

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Author: Rounaq Neroy

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

Coronavirus or Covid-19 is showing no signs of receding. On the contrary, the number of cases is increasing by the day and the situation is rather depressing, as almost every region of the world and country is infected.

Sadly, there is no antidote or a vaccine conclusively developed to fight this deadly pathogen yet. And according to the World Health Organisation (WHO), Coronavirus will be with us for a long time. Most cases are still in the early phase of the epidemic and some countries which were affected early in the pandemic, are now seeing a resurgence in the number of cases, said the WHO Chief.

COVID-19 is truly playing havoc and may be followed with a financial crisis owing to the lockdowns imposed to contain the spread. The risk of global recession undeniably looms large. "This crisis is like no other", as what the International Monetary Fund's (IMF), Chief Economist, Ms Gita Gopinath wrote in the foreword to the World Economic Outlook, April 2020.

Graph 1: The virus has spread even to Indian equities

The graph above depicts the S&P BSE Sensex falling off the cliff and investors' wealth being eroded. Since the all-time high of the S&P BSE Sensex (42,273.87 points made on January 20, 2020), we have fallen more than -25% and overall sentiments seem downbeat and volatility has heightened.

On a year-to-date basis, Indian equity is down nearly -23.2% (as of April 27, 2020), while gold -- with uncertainty looming around the world -- has exhibited its sheen and demonstrated its trait of safe haven and an effective portfolio diversifier, clocking nearly +5.0% absolute return as of April 27, 2020.

Graph 2: YTD Performance of key asset classes

The graph above validates the importance of tactical asset allocation. The key lesson here is: all asset classes will not necessarily move in the same direction (up or down) always - over the long-term; some may even move in the opposite direction as what we have seen in the recent past (in the case of equities and gold).

As we (the world) continue to fighting COVID-19 and the aftereffects of it are conceivable, a further correction cannot be ruled out and the bottom is unknown. COVID-19 is likely to impact corporate earnings amidst a time when India is already facing slowdown blues. As people are quarantined, demand would remain muted and inflation risk will begin to surface, particularly in food prices.

So, although the current levels offer a decent value-buying opportunity, skewing your portfolio completely to equity as an asset class could endanger wealth creation. In such times you, as an investor, need to follow tactical asset allocation while you aim to generate wealth.

Tactical Asset Allocation with Quantum Multi Asset Fund of Funds

To invest sensibly in the current times, you need a Multi-Asset Fund that invests in mainly three asset classes: equity, debt and gold; and is truly balanced.

Among the plethora of Multi-Asset Funds, the Quantum Multi Asset Fund of Funds (QMAFOF) incepted on July 11, 2012, is truly balanced and holds well-diversified portfolio (across the three key asset classes: equity, debt and gold) at all the times -- unlikely many of its peers who swayed by the excess exuberance in equities, lost sense, and eroded investors wealth.

Table 1: Asset Allocation of Quantum Multi Asset Fund of Funds

The Scheme predominantly invests in the units of Equity, Debt / Money Markets and Gold schemes of Quantum Mutual Fund. Currently, the following schemes are used to gain exposure to a particular asset class:

For equity - Quantum Long Term Equity Value Fund, Quantum Nifty ETF

For debt & money market instruments - Quantum Liquid Fund, Quantum Dynamic Bond Fund

For Gold - Quantum Gold Fund (ETF)

The Units of any other Equity and Debt / Money Markets scheme launched by Quantum Mutual Fund from time to time would be eligible to be part of the above asset allocation components.

Although QMAFOF aims to invest predominantly only in the schemes launched by Quantum Mutual Fund, QMAFOF may seek to invest in the units of similar schemes of other mutual fund houses in case of any investment and regulatory constraints that arise that prevent the Scheme from increasing investments in the schemes of Quantum Mutual Fund.

The investment objective of Quantum Multi Asset Fund of Funds is, "to generate modest capital appreciation while trying to reduce risk (by diversifying risks across asset classes) from a combined portfolio of equity, debt/money markets and gold schemes of Quantum Mutual Fund"

QMAFOF benchmarks it against the Crisil Composite Bond Fund Index (40%) + S&P BSE Sensex Total Return Index (40%) + Domestic price of Gold (20%).

Being a fund of fund, this benchmark is most suitable to compare QMAFOF's performance. The unique combination clubs together the relatively risky assets with other stable asset classes in the portfolio.

Backed by an astute investment strategy, taking the relative valuations between asset classes into consideration such as Price-to-Earnings relative to historical averages; the relationship between earning yield to bond yield relative to historical averages; and macroeconomic factors prevailing globally and within India, the two fund managers of QMAFOF, namely Mr Chirag Mehta (MMS - Finance, M.Com, and CAIA with over 13 years' experience in research and investments) and Mr Nilesh Shetty (B.Com, MMS -Finance, and CFA with collectively 16 years in equity markets), have generated respectable returns for investors.

Table 2: Report card of QMAFOF versus some of its peers

Even as the equity market is panting for breath attributable to COVID-19 and volatility has intensified, QMAFOF due to its sensible asset allocation to equity, debt and gold through its underlying portfolio, has fared relatively better than some of the peers.

ICICI Prudential Multi-Asset Fund, Axis Triple Advantage Fund, HDFC Multi-Asset Fund, and UTI Multi-Asset Fund, on the other hand, have all eroded investors wealth posting double-digit negative returns (see Table 2) in this downturn. Some of these schemes have fared well during upswings by keeping to the allocation to equities high, but on the downside, they have not managed the risk very sensibly. Investors, as a result, have experienced a roller-coaster ride in the journey of wealth creation.

A multi-asset fund, ideally, is expected to be truly balanced and sensibly allocate its assets whereby the downside risk of one asset class is compensated by the positive returns of the other asset classes.

Here are five good reasons to invest in Quantum Multi Asset Fund of Funds

1. You gain from a diversified portfolio across asset class which, in turn, reduces risk and optimizes returns.
2. You do not have to worry about portfolio rebalancing; the fund manager will astutely do it for you at regular intervals in the endeavour to achieve the set-out investment objective of the fund.
3. Portfolio tracking will be easy for you instead of tracking 10 different schemes
4. You will benefit from the lowest expense ratio in the category
5. And above all, Quantum Mutual Fund's strong research capabilities across various asset markets - equity, debt and gold, -- with robust investment processes & systems followed at the fund house.

Suitability of Quantum Multi Asset Fund of Funds

QMAFOF is a perfect fund for investors looking to tactically diversify the portfolio with a single fund across equity, debt and gold, plus leave the aspect of rebalancing to the discretion and expertise of the fund manager.

Furthermore, the fund is appropriate for investors seeking long term capital appreciation, who have a moderately high-risk appetite, and an investment time horizon of 3 to 5 years.

It is the best time to invest in the Quantum Multi Asset Fund of Funds. Valuation-wise, Indian equities look attractive and there appears to be a decent margin of safety (with a high return potential if the equity markets ascend).

Similarly, given the uncertainty surrounding the world, gold is expected to display its lustre. The economic uncertainty surrounded by the COVID-19, GDP growth rates being revised downwards, easy monetary policy action and stance followed by central bank across the world, geopolitical tensions, trade tension, and increased stock market volatility are likely to keep spotlights on gold.

Likewise, with credit risk getting amplified, it makes sense to have exposure to a pure Liquid Fund (that does not take exposure to Commercial Papers issued by private entities). Now that policy rates are already lowered by RBI to address growth concerns, it does not make much sense to take exposure to the longer end of the yield curve; it could prove less rewarding and risky (may encounter high volatility) in the foreseeable future. Deploying your hard-earned money is short-end of the maturity curve, would be far better.

By investing in Quantum Multi Asset Fund of Funds, you will be able to balance the risk better with a sensible investment strategy in place.

Just as an excess drug dosage cannot treat COVID-19, your investment portfolio, too, needs just a fair amount of diversification to clock optimal risk-adjusted returns in the journey of wealth creation.

Go ahead and consider investing in Quantum Multi Asset Fund of Funds.

Happy Investing!

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Author: Rounaq Neroy

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

Despite the rally we recently witnessed, the market mood continues to be sombre due to the pandemic crisis. FPI outflows from the Indian market persisted in the current month as well, while the recent fiasco at a popular fund house also dented investor sentiments.

It is difficult to predict how this situation will unravel eventually. Though the pandemic has impacted both large and smaller sized companies, small and mid sized companies could be the most affected.

However, quality names even in these segments could perform well over the long run. Therefore, you should stick to only quality names across different market capitalisation and invest via a well managed mutual fund that focuses on growth through diversification.

HDFC Mid-cap Opportunities Fund (HMOF) is one such mid cap fund that looks to invest in mid cap stocks with sound financial strength and reasonable growth prospects.

Graph 1: Growth of Rs 10,000 if invested in HDFC Mid-cap Opportunities Fund 5 years ago

One of the most popular funds in the midcap category, HMOF's asset size is the largest as compared to its peers. However, HMOF has shown no constrain when it comes to delivering superior performance. The fund has a track record of generating above-average returns across market conditions. Over the last 5 years, HMOF has generated returns at 4.5% CAGR as compared to 1.9% CAGR generated by its benchmark Nifty Midcap 100 - TRI, thus generating an alpha of around 2.5 percentage points CAGR. The fund has made well use of diversification to mitigate downside risk and generate decent lead over the benchmark index.

Table: HDFC Mid-cap Opportunities Fund's performance vis-a-vis category peers

*Please note, this table only represents the best performing funds based solely on past returns and is NOT a recommendation. Mutual Fund investments are subject to market risks. Read all scheme related documents carefully. Past performance is not an indicator for future returns. The percentage returns shown are only for indicative purposes.

Though HMOF has trailed some of the other popular peers in the mid cap category, it stands strong in the list of mid cap funds. The fund has constantly outperformed the benchmark by a noticeable margin across time periods.

Some of the other top performers in the category are Axis Midcap Fund, Invesco India Midcap Fund, and DSP Midcap Fund.

The fund has not only demonstrated its ability to generate superior returns for its long term investors, but has been reasonable when it comes to managing volatility and curtailing down-side risks. In terms of risk-adjusted returns, HMOF has outperformed its benchmark by a significant margin and also stays ahead of most of its peers.

Investment strategy of HDFC Mid-cap Opportunities Fund

Categorized as midcap fund, HMOF is mandated to invest minimum 65% of its assets in equity and equity related instruments of mid cap companies. Accordingly, HMOF invests in stocks of predominantly mid-sized companies, which have reasonable growth prospects at acceptable valuations. The fund also holds significant exposure in smallcaps along with moderate exposure in large caps as well as cash and debt.

It follows the bottom-up approach to identify high quality businesses for the long term. The stocks are bought primarily for the strengths of company fundamentals rather than the strength of the macro-economic indicators.

The fund manager resists from following market momentum and holds each of his high conviction stock for the long term.

Graph 2: Top portfolio holdings in HDFC Mid-cap Opportunities Fund

As on March 31, 2020,HMOF held 75 stocks in its portfolio, with no individual stock having exposure of more than 5%.Popular mid cap names like Aarti Industries, Balkrishna Industries, Trent, Ipca Laboratories, and Voltas, etc. appeared in its top portfolio holdings. The top 10 stocks constitute close to 32% of its assets.

The fund's portfolio is primarily skewed towards Banking and Finance sectors which together constitute around 17% of the portfolio. Auto ancillaries, Pharma, Chemicals, and Industrial Products are the other prominent sectors with allocation of around 9-11% each.

Suitability

HMOF's performance over longer time periods has been commendable, where it has generated decent long-term returns for its investors as compared to the benchmark, though it has lagged behind some of its peers. Its focus on timely realization of growth potential of stocks at fair valuation can help it generate strong returns while also minimize the downside risk. However, its aggressive mandate makes it prone to high volatility. This makes HMOF suitable for investors with high risk appetite and a long term investment horizon.

Editor's note: The last few years have not been among the best for equity mutual funds. While most funds have underperformed or are struggling to match the returns of the benchmark, there are few funds that have the potential to constantly generate alpha for its investors. And we have identified five such high alpha generating funds, in our latest report 'The Alpha Funds Report 2020'. Do not miss our latest research finding. Get your access to this exclusive report, right here!

Note: This write up is for information purpose and does not constitute any kind of investment advice or a recommendation to Buy / Hold / Sell a fund. Returns mentioned herein are in no way a guarantee or promise of future returns. As an investor, you need to pick the right fund to meet your financial goals. If you are not sure about your risk appetite, do consult your investment consultant/advisor. Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.

Author: Divya Grover

This article first appeared on PersonalFN here.

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PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

The Indian equity markets are on a rollercoaster with the uncertainty surrounding the COVID-19 pandemic. It's been a nerve-racking experience for investors and wealth has been eroded.

As we continue to battle COVID-19 with lockdown 3.0, on a year-to-date basis the S&P BSE Sensex is down -23.9% as of May 5, 2020, (see Table 1 below).

Table 1: Wealth erosion across market cap segments

Balanced Hybrid Funds that are supposed to be balanced and protect downside risk have gone on to erode investors' wealth by seldom maintaining a 'fair balance' and displaying unreasonable love and exuberance for equities plus for taxation reason -- to be treated as an equity-oriented fund. (see Table 2 below).

Similarly, many multi-asset funds that hold the mandate to invest with allocation across three asset classes i.e. equity, debt and gold with minimum 10% in each have posted negative returns (see Table 2 below).

Table 2: Report card of Balanced Hybrid Funds and Multi-Asset Funds

ICICI Prudential Multi-Asset Fund, HDFC Multi-Asset Fund, and UTI Multi-Asset Fund, in particular, have not lived up to the expectation and the trust evinced by investors (going by their AUM size). Not just are their recent returns amidst the outbreak of COVID-19 crisis unappealing, but even the 3-year and 5-year compounded annulaised return is nothing to vie for. This is because they haven't been able to sensibly allocate to the three key asset classes: equity, debt and gold, and play the investment strategy astutely.

On the other hand, the Quantum Multi-Asset Fund of Funds (QMAFOF) has depicted true balance backed by its sensible investment strategy arrested the downside risk and relatively fared better vis-a-vis its peers over 3-year and 5-year time periods.

The Quantum Multi-Asset under normal circumstances by maintaining 25%-65% exposure to units of equity schemes (vide Quantum Long Term Equity Value Fund, Quantum Nifty ETF); 25%-65% exposure to units of debt and money market instruments (vide Quantum Liquid Fund, Quantum Dynamic Bond Fund); 10%-20% in units of gold schemes (vide Quantum Gold ETF); and up to 5% in money market instruments, Short-term Corporate Debt securities, Tri-Party Repo, Repo/ Reverse Repo in Government securities and Treasury Bills has been able to generate modest, yet appealing returns than the rest, and mitigated the risk by diversifying across asset classes: equity, debt and gold.

Historically it is proved that all classes never move in the same direction -- up or down -- at the same time. There could be times when certain asset classes perform better than the other and/or show an inverse relation to another (see Table 3).

Table 3: Here's how various asset classes fared per calendar year

If your multi-asset fund strategically allocates between equity, debt, and gold sensing the pulse of each asset class, maintains balance, and takes calculated risk sensible wealth creation is possible.

In the on-going COVID-19 crisis, equities will remain volatile, but given the sharp correction, there are and will be, enough long-term value-buying opportunities with a decent margin of safety.

Gold in such uncertain times would continue to gain all the attention. Easy monetary policy action and accommodative stance to address growth concerns, a record-high debt-to-GDP ratio, trade war tensions, geopolitical tensions, the potential risk to the inflation trajectory mainly due to food prices, increased stock market volatility, and the U.S. Presidential election in November 2020 are some of the factors expected to work in favour of gold. The precious yellow metal will demonstrate its trait of being a portfolio diversifier, a hedge (when other asset classes fail to post alluring returns), and command a store of value.

And speaking of debt & money market instruments, with exposure to highly rated papers and predominantly government securities, will act as a stabilizer.

A unique aspect of QMAFOF is that it has always taken relative valuations between asset classes into consideration, such as:

• Price-to-Earnings relative to historical averages;
• The relationship between earning yield to bond yield relative to historical averages; and
• Macroeconomic factors prevailing globally and within India

It is this wide-ranging and sensible approach that has helped QMAFOF to protect against the downside risk and reward its investors better than many of its peers. The fund managers, Mr Chirag Mehta (MMS - Finance, M.Com, and CAIA with over 13 years' experience in research and investments) and Mr Nilesh Shetty (B.Com, MMS -Finance, and CFA with collectively 16 years in equity markets), have strategically moved in and out of the aforesaid asset classes wisely recognising their upswings and downswings.

[Read: Why Tactically Invest Across Asset Classes amidst COVID-19 with Quantum Multi-Asset Fund Of Funds]

The choice is completely yours: to stay invested in a 'Balanced Hybrid Fund'/ Multi-Asset Fund that does not show true balance and keep harming your health and wealth; or make a sensible move and switch over to Quantum Multi Asset Fund of Funds that is truly balanced and has sensibly generated wealth for investors without the shrieking experience of a rollercoaster.

Wish to invest in Quantum Multi Asset Fund of Funds? Click here.

Happy Investing!

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Author: Rounaq Neroy

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

Australian tennis star Nick Kyrgios has apparently followed through on a promise to help people going hungry in the coronavirus shutdown, with social media images showing boxes of essential items prepped for delivery.

The controversial Kyrgios, infamously outspoken and known for his fiery on-court antics, said on Monday he would personally drop food on doorsteps after COVID-19 restrictions closed down entire industries, forcing huge numbers of people out of work across Australia. People queueing for welfare payments across the country have been likened to scenes from the Great Depression. "Please don't go to sleep with an empty stomach," Kyrgios, the world number 40, posted on Instagram Monday. "Don't be afraid or embarrassed to send me a private message. I will be more than happy to share whatever I have.

"Even just for a box of noodles, a loaf of bread or milk. I will drop it off at your doorstep, no questions asked!" he said in a post that attracted almost 100,000 likes. His mother, Norlaila Kyrgios, posted on Instagram over the weekend a photo of a table laden with food -- including bread, fruit and canned goods -- with the caption "dining room or food distribution centre".

Images of Canberra-based tennis star's Instagram stories shared on News Corp websites showed boxes of essentials captioned "deliveries in progress". It comes just months after the 24-year-old led a bushfire relief campaign that raised millions of dollars. Kyrgios gave Aus$200 (US$125) for every ace he hit across his home tennis summer, which ran until the end of the Australian Open. Other players and Australian Open organisers jumped on board the fundraising drive, also contributing large sums to people affected by the deadly fires.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

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While sports stars across the globe are trying their hands at doing things they never got to do thanks to the Coronavirus lockdown, Bulgarian tennis star Grigor Dimitrov has revealed he will be taking up a course at the Harvard Business School soon.

In a column for the ATP Tour website, Grigor wrote: "I'm starting a course at Harvard Business School in a few weeks. It's something I've always wanted to do. I loved being in school, but haven't had the chance to experience it to the extent that I would have wanted to. Now I have the time to do something new and different."

Grigor, who is currently in California, USA, during quarantine, added: "I decided to stay on the west coast of the US once it was announced that Indian Wells was cancelled. Tennis players are creatures of habit, so I still make sure to structure my day. Go to bed on time, wake up early, be productive in the morning. I'm a crazy fanatic when it comes to laundry and have been doing that twice a day."

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With the world coming to a standstill due to the coronavirus outbreak, sporting events across the globe have either been cancelled or suspended and Indias star tennis player Sania Mirza cannot wait to go back to the tennis court.

Taking to Twitter, she wrote: "Waiting to play tennis again like." Earlier, Sania had made her displeasure known as there has been a rise in the number of 'cooking' posts that celebrities are putting out on social media as they stay indoors to fight the coronavirus outbreak. Sania feels posting such pictures in these times is unwanted.

Waiting to play tennis again like 🎾 ⏳
📸- @avigowariker pic.twitter.com/RUZaNRjHHf

— Sania Mirza (@MirzaSania) April 14, 2020

Taking to Twitter, she wrote: "Aren't we done with posting cooking videos and food pictures yet ? Just spare a thought - there are hundreds of thousands of ppl, specially in our side of the world starving to death and struggling to find food once a day if they are lucky."

After giving birth to her child in October 2018, Sania returned to the court in January this year. She clinched the women's doubles title at Hobart International, pairing up with Nadiia Kichenok, in her comeback competition.

Sania recently shared a photo of her son with a tennis racquet in hand, looking confused. "I am pretty sure he's thinking what the fuss is all about? #IzhaanMirzaMalik". Sania said in her Twitter post.

Sania last played at the Qatar Open in February. She has helped raise Rs 1.25 crore in one week which will help close to 1 lakh people in need during the 21-day lockdown to fight the coronavirus pandemic.

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Wimbledon champion Simona Halep, 28, is pretty shocked to see a global lockdown due to the Coronavirus pandemic. "Not even in my worst nightmares could I think that the globe can stop in such a way. For me, it's a shock because I'm pretty young and haven't gone through too many tough times. This is something that belongs to a fantastic realm. They have stopped travelling, flight in order to avoid affecting our health and well-being. Maybe it's the best interdiction," Simona, 28, told Romanian TV show Garantat 100%.

The former World No. 1, who is currently in isolation at her Bucharest home, is taking "maximum care" to avoid contracting the virus, fearing it could affect her lungs.

"In the beginning, I had this fear but then analysed the situation and figured out that if you protect yourself, everything will be OK but I'm afraid for those with health issues. I fear this virus because even if we are healthy and have good immunity–we may resist it–but it [the virus] will leave us with a serious lung affection. That's why I have decided to take maximum care of myself. That's why I have decided to take maximum care of myself," added Simona.

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British tennis star Jamie Murray, 33, believes that he's the most fashionable person in his family. Jamie, the elder brother of former British No. 1 Andy Murray, 32, recently signed on as the brand ambassador for Edinburgh-based Andrew Brookes Tailoring.

Jamie hailed England football legend David Beckham's fashion sense. "David Beckham is my style icon. He always has his game face on. I'm sure a lot of effort goes into making sure he looks on point," said Jamie in an interview to The Herald Scotland.

About his own style, Jamie said: "[My style is] Pretty casual. With travelling so much, there's a limit to what you can take in your suitcase. I tend to keep it quite simple with jeans and sneakers, some t-shirts and hoodies."

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Rafael Nadal thinks the global nature of tennis means there is little chance tournaments will go ahead any time soon as sport continues to be paralysed by the coronavirus pandemic. Novak Djokovic also anticipates a lengthy delay before tennis can be played even behind closed doors, with the world number one expecting players to have to wait a "few months". The French Open, which Nadal has won a record 12 times, has been postponed until September, shortly after the US Open, while Wimbledon was cancelled earlier this month for the first time since World War II.

But the prospect of either grand slams at Roland Garros or Flushing Meadows being played with fans appears increasingly remote. "Tennis is a global sport," Nadal told Spanish radio station Onda Cero on Wednesday night. "We go from country to country and a lot of people have to move around.
"It seems difficult to me for any big tournament to be played in the short or medium term."

Football's major leagues are preparing to play behind closed doors for several weeks to complete their seasons and avoid losing considerable sums of money from broadcasting contracts. But tennis tournaments are more reliant on fans for their income, making it more complicated to stage competitions in empty stadiums. "It is not an easy decision," Djokovic told the same programme.

"I am ready but I think we have to wait a few months." "If you could play behind closed doors, I would be delighted but I think it's very difficult," added Nadal.

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Novak Djokovic said that he, Roger Federer and Rafael Nadal are organising aid for players struggling with the paralysis of the game due to the Coronavirus pandemic. "I spoke to Roger and Rafa a few days ago," Djokovic, the World No. 1, said in an Instagram chat with friend and rival Stan Wawrinka on Saturday.

No support from federation
"We had a long conversation about the near future of tennis, what is going to happen, how we can contribute and how we can help especially lower-ranked players, who are obviously struggling the most. The majority of the players who are ranked between 200, 250 in the world, and the 700th or 1,000th do not have federation support, do not have sponsors. They are completely independent and left alone," he said. "Guys who are ranked between 200-250, especially to 700...are thinking of leaving tennis right now."

He said players, the ATP and the four Grand Slams "would all get together and will contribute to a player relief fund that ATP will distribute." "It looks, hopefully, that there will something between $3 million (2.75 million euros) and $4.5 million that is going to be distributed," he estimated. Djokovic said the cash could come from the prize money for the season-ending World Tour Finals or the final bonus pools for top players.

Lack of tournaments
"Maybe if we don't have any tournaments this season, we can take a certain percentage from our prize money from Australian Open in January," he said. "These guys are the grass roots of tennis. The future of tennis. We need to show them they still can rely on support of the top guys." According to reports in tennis media, Djokovic, as president of the ATP Players' Council, which also includes Federer and Nadal, proposed to members that players in the Top 100 for singles and the Top 20 in doubles contribute according to their rankings.

The proposed scale runs from $30,000 for a Top-5 player to $5,000 for those between 51 and 100. That would raise approximately $1 million and the ATP would make a similar contribution. On Friday, ATP chief Andrea Gaudenzi echoed the call for unity on the tour website. "Our guys are at home, obviously unable to play, unable to earn money and financially struggling, so we will try to help," he said.

"I've been quite touched by the top players who reached out, the big names expressing their desire of helping the lower-ranked players and putting those players first. We are also talking with the Grand Slams about it. They may want to join in the effort. I think it would be a great message for the sport." World tennis has been at a standstill since the beginning of March and will not resume until mid-July at the earliest following the postponement of Roland Garros and the cancellation of Wimbledon.

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Former US Davis Cup captain Patrick McEnroe, who was diagnosed with COVID-19 in March, said Saturday that he has now tested negative for the virus. "All right everyone, great news for me and my wife, Melissa, we both tested negative for COVID-19," McEnroe said in a video posted on Twitter. "We just got the tests back this morning.

The 53-year-old younger brother of seven-time Grand Slam singles champion John McEnroe, said he was tested at the same drive-up facility in suburban Westchester County, New York, where he obtained his initial test. He said the procedure was even more efficient, with more technicians testing six lines of patients instead of two. "I know we're talking a lot about testing on TV, we need more of them, we all know that. It was great to see this going so well for us and for New York state in general," said McEnroe, who quarantined at home during his illness. New York state has seen more than 12,000 deaths from COVID-19, although the state reported its lowest one-day death toll in two weeks on Saturday of 540. McEnroe said that as someone who had recovered from the virus he hoped to be able to contribute to the fight against the disease. "Now I'll try to go for the antibody test when that's available to give my blood, my plasma," he said.

Researchers are studying treatments in which coronavirus patients are given blood plasma from recovered individuals who have developed antibodies that can fight the disease. "Still thinking about everyone on the front lines," McEnroe concluded. "We've got to stay the course." McEnroe, who had first tweeted a video announcing his diagnosis from the basement of his home, was outdoors in the sunshine on Saturday. McEnroe won his only ATP singles title in 1995 at Sydney. He captured a Grand Slam doubles crown at the 1989 French Open alongside compatriot Jim Grabb. He was captain of the 2007 US Davis Cup squad that beat Russia 4-1 in the final at Portland, Oregon.

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Rafael Nadal on Monday expressed his frustration that tennis players remain unable to practise due to the coronavirus pandemic, while Roger Federer revealed he was happy with his recovery from knee surgery. The Spanish government has extended the country's state of alarm until May 9, with the entire population confined to their homes except a small number working in specific sectors, leaving Nadal perplexed as to why he can't train. "It's true I don't understand very well because we cannot play tennis when many people are going to work and even more so in our sport, where we keep at a large and safe distance and we play on opposite sides of the court," world number two Nadal said during an Instagram Live.

"But I understand that we are in a very critical situation, that the government is dealing with something unprecedented and I also understand that the last thing they think of is who can train and who cannot train. "I understand the situation and obviously there are many things that are not logical but you have to accept the rules." Nadal treated tennis fans to an Instagram Live in which he spoke to both Roger Federer and Andy Murray about their experiences during lockdown.

The men's and women's tours have been halted due to the virus, while Wimbledon was cancelled last month for the first time since World War II and Nadal's favourite Grand Slam the French Open was pushed back to September 20. "I am not playing tennis, I do not have a court at home and I miss it a little," Nadal said. "I am sticking to my physical routines.

From the gym of my academy they were able to bring me some machines when lockdown began so I try to work a little in the morning, a little in the afternoon. "It is very important to have both the head and the body focused and it is what I am trying to do at all times." Federer meanwhile gave an update on his right knee after the 20-time major winner decided to undergo surgery in February.

"I've been hitting a bit against a wall, (doing) rehab with the knee," Federer said. "It's OK, I had a really good first six weeks, then it was a bit slower, now it's getting better again but I have plenty of time. "There is no stress, no rush. If there is anything positive (about being in lockdown) that's the only thing really. I just want the knee to be good, it doesn't matter when I return."

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American tennis player Sloane Stephens has started a fundraiser for students and teachers in Haiti in association with her fiance Jozy Altidore's JA Foundation. "Can you imagine climbing 200 flights of stairs every day simply to access clean water, and education, and healthcare? The children and families in Marre-a-Coiffe, Haiti do just that. I'm taking the Hike for Haiti Challenge to raise awareness and funds to help provide students and teachers in Haiti vital support.

Jozy Altidore

From April 17 to May 17, we'll be hiking 200 flights of stairs in solidarity," Sloanne, 27, says on her fundraising page. Meanwhile, Jozy remarks: "In these times of adversity and social distancing, it's so important to find ways to virtually stay connected to others in our community, and to stay healthy and active at home. The JA Foundation will be matching funds donated to my team page up to $2,500, so your contribution will have double the impact."

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20-time Grand Slam champion Roger Federer came up with a radical proposal regarding the future of international tennis. The Swiss superstar suggested a merger between men's tennis body ATP and women's governing body WTA.

Federer believes this could be the right time for a merger between ATP and WTA for the betterment of the sport. The former World No.1 also explained that he isn't asking for competitions being merged but only the governing bodies.

"Am I the only one thinking that now is the time for men's and women's tennis to be united and come together as one?" Federer wrote on his Twitter handle.

"I am not talking about merging competition on the court, but merging the two governing bodies (ATP and WTA) that oversee the men's and women's professional tours."

"It's too confusing for the fans when there are different ranking systems, different logos, different websites, different tournament categories," he wrote further.

The entire sporting calender of the world is reeling due to Covid-19 pandemic and tennis is not different. The season has been put on hold with multiple tournaments being postponed or cancelled.

The second slam of the year, French Open, has been postponed from May to September while the Wimbledon was cancelled earlier this month in the wake of coronavirus crisis. Wimbledon had only been cancelled twice before, because of World War 1 and World War 2.

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Australia's World No. 1 tennis ace Ashleigh Barty, 24, likes to see the positives in life even in the most negative situations.

The French Open champ, currently at home Down Under due to the Coronavirus-caused lockdown, says there is no point in stressing over the uncontrollables.

"Everyone is in a unique situation, depending on what country they're from and all the governing bodies making different decisions. It's not a time to worry or stress about because it's something out of our control. There's always a silver lining, there's always something we could be grateful for, to be happy about. For me, it's being able to spend time with my family," Ashleigh told the WTA Tour website.

Meanwhile, Ashleigh has kept in touch with some of her friends on the Tour. "I spoke to Kiki [Bertens] and Jule [Goerges] and Simona [Halep] and Petra [Kvitova]. It's just to check it they and their families are fine. Firstly, it's always about health and looking after yourself and your family, and then sports is a bonus. This is a time where we can really appreciate the little things."

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Rafael Nadal said on Sunday that he was "very pessimistic" over a full resumption of the professional tennis circuit which has been halted by the coronavirus pandemic. "From my point of view, I'm very pessimistic that the circuit can resume a normal activity," said the world number two in a virtual chat origanized by the Spanish Federation of Tennis (RFET) involving the team that won last year's Davis Cup.

"In tennis, you need to travel every week, stay in hotels, go to different countries," Nadal said. "Even if it we play without an audience, to organise any event you need a lot of people involved, which cannot be ignored. At an international level I see a serious problem." Nadal said he hoped that restrictions can be relaxed gradually, but added that he was aware that the global health situation is serious. "We have had a very tough month and a half, with many irreparable losses as well as others that are less important that will still bring great suffering to society, I hope only for a few months, at the economic level," he said.

"Many people are going to lose their jobs." "These are sad moments when you see so many people dying," he said. Nadal had already told Spanish radio that he thought it would be "difficult" to stage one of the majors "in the short or medium term." Nadal has been working with his friend Pau Gasol, the Spanish basketball player, to raise funds in the fight the coronavirus. Along with other leading tennis players such as Roger Federer and Novak Djokovic, Nadal is one of the promoters of a plan to create a fund to help low-ranked players who are suffering financially.

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American supermodel Gigi Hadid has revealed she injured her arm while training with tennis star Serena Williams for a virtual charity tennis tournament. The Stay at Home Slam is set to be streamed on Facebook Gaming and on the tennis Facebook page of IMG on Sunday. While taking tips from Serena ahead of the online celebrity match, Gigi, who is expecting her first child with singer boyfriend Zayn Malik, said she pulled her entire arm the first time she practised on swing mode.

During an appearance on Jimmy Fallon's The Tonight Show, Gigi said: "I've been practising a lot because if anyone's more competitive than me, it's Serena. We're playing controller version, but the first night I played, I practised on swing mode and fully pulled my entire arm. The next day, I couldn't lift my arm. I couldn't do anything."

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The International Tennis Federation (ITF) has issued a set of guidelines for local and national-level competitions when tennis returns to action once the restrictions put in place due to coronavirus pandemic are lifted. The guidelines include arriving at a venue already dressed and leaving immediately after the conclusion of a match, no handshake, no sharing of equipments (rackets, towels, water bottles, etc), no doubles matches. Besides the guidelines also say that competitions should be held without spectators.

The ITF has also said that players use separate sets of balls (and mark them clearly prior to play) and should go around opposite sides of the net at changeovers. "The guidelines -- at this stage for local and national-level competitions only -- seek to provide a framework in which tennis can be played again in a manner that protects against the risk from transmission or infection by the COVID-19 virus, and provide a number of practical suggestions as to how this might be achieved," said ITF in a statement on Friday.

"While following measures such as these will ensure that the risk from COVID-19 is minimised, the guidelines are clear that the risk cannot be eliminated altogether," it added.

Currently, all tennis activities remain suspended until July 13 due to coronavirus pandemic which has so far claimed more than 2.3 lakh lives across the world.

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American tennis ace Serena Williams, a successful entrepreneur with fashion labels, handbags and jewelry lines to her name, believes her daughter Alexis Olympia, two, could grow up to be a good businesswoman.

Serena, currently in lockdown due to the COVID-19 pandemic, is busy working from home with her little girl by her side throughout—even during online meetings.

"I love being a full-time mom and not having the responsibilities to travel and play. I love to spend so much time with her but it's interesting. She's in every single call that I have, every single meeting. I feel like she's getting a little bit of it, so she's going to be a really good businesswoman when this is all over," the 23-time Grand Slam champion told USA's People magazine.

The former World No. 1 offered some valuable parental advice too. "You should schedule your day well, and always include your kids. They are the voice of the future.

It's like we're living a future history lesson and that's rare. My advice to parents is to always bring your kids in. You never know what they're going to pick up," added Serena, 38.

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Novak Djokovic has apparently broke confinement rules in Spain by going back to a tennis court. Djokovic posted a video on Instagram showing him exchanging shots with another man at a tennis club in the coastal city of Marbella, where the Serb has reportedly stayed. Djokovic filmed the video while hitting shots and wrote he was "so happy to play on clay...well, just for a bit with my phone in the hands."

Spain on Monday loosened some of the lockdown measures that had been in place since mid-March because of the COVID-19 pandemic, allowing professional athletes to return to practice. But sports facilities are supposed to remain closed at least until next week in most parts of the country, with the exception of training centres for teams in professional leagues in sports such as soccer.

The Spanish tennis federation said in a statement on Monday that professional players in Spain were allowed to exercise by themselves or with a coach, but not yet on a tennis court. It said it would work on a set of guidelines to inform players and clubs about what they would be permitted to do beginning next week.
The federation's statement did not appear to be related to Djokovic's appearance on the court in Marbella.

Requests for comment made to the federation and to Djokovic's staff late on Monday were not immediately answered. It was not clear if Djokovic, the reigning Australian Open would be subjected to fines or sanctions if it was confirmed he broke the lockdown rules.

The No. 1-ranked Djokovic recently said he was against taking an anti-Coronavirus vaccination if it became mandatory to travel once the pandemic subsides, though he later said he was open to changing his mind.

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The tennis club where Novak Djokovic broke confinement rules in Spain has said it mistakenly allowed the top-ranked Serb to practice and apologized for the error. Djokovic published a video of him training on Monday in apparent violation of Spain's current rules amid the coronavirus pandemic. The video posted on Instagram showed Djokovic exchanging shots with another man at the club in the coastal city of Marbella, where the Serb has been staying for the past several weeks.

Djokovic filmed the video while hitting shots and wrote he was "so happy to play on clay .. well, just for a bit with my phone in the hands. Spain has eased some of the lockdown measures that had been in place since mid-March, allowing professional athletes to return to practice, but most training centers and sports facilities must remain closed until next week. We are sorry that our interpretation of the regulation could have been erroneous, and this could have inconvenienced Mr. Djokovic or any other citizen acting in good faith," the Puente Romano Marbella Tennis Club said in a statement.

The statement, which was relayed by Djokovic's management team, said the club received a request from the player to practice and gave him the go-ahead with the "understanding that from May 4 all professional sports players were authorized to train." The club said it therefore believed he was "permitted to train in our facilities." It said it later received a "clarification" from the Spanish tennis federation and "both parties have agreed that training should resume" only next week.

Rafael Nadal said he also went to train on a court this week, but he did it on private property because the rules weren't fully clear to him. Soccer players were among the exceptions who could start training inside sports facilities beginning this week.

Spain has been one of the countries most affected by the pandemic but it started loosening some of its restrictions on movement as the number of confirmed cases of COVID-19 started to go down recently. The nation went into a lockdown on March 14.

Djokovic recently said he was against taking a vaccine for the coronavirus if it became mandatory to travel once the pandemic subsides, though he later said he was open to changing his mind.

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Five-time Grand Slam champion Maria Sharapova has revealed that fellow tennis star and World No.1 Novak Djokovic was once fanboying on her over dinner. During an Instagram Live chat with the Serbian ace, Sharapova, who called time on her illustrious career in February, said: "I remember we played this little exhibition. I was young, you were young, way before you had any Grand Slam titles. I don't know if you'd even won a tournament at that point," said Sharapova. This part of the chat was shared by ATP Tour on their official Twitter handle.

"We're not going to start hugging trees, right?"@MariaSharapova with the one-liners for @DjokerNole today. 🤣#tennisathome pic.twitter.com/bweyZMuJ2v

— ATP Tour (@atptour) May 5, 2020

"You said that if you'd win (in a mixed doubles match), I would have to pay dinner. I was like, ‘Okay, whatever, who is this kid?'" Sharapova recalled. "You won and you were like, ‘We have dinner tonight. We're going to the Japanese place!' I was like, ‘Are you serious? You and me, going to dinner, tonight?' So we did. We ended up going to dinner and it was so funny because you pulled out I think it was an old Kodak camera and you asked the waiter to take a photo of us… and here we are," she further said.

"It's actually what happened. Maria is saying the truth," Djokovic said, laughing. "I think you were fanboying," Sharapova replied. Djokovic recently said that he was "mentally empty" and "confused" at the beginning of the ongoing freeze of the tennis calendar due to the coronavirus pandemic.

The sport has been on a full stop for over a month due to the pandemic outbreak.

Novak Djokovic

Djkovic has enjoyed a revival in form after a slump in late 2017 and most of 2018. He was set to defend his Wimbledon title this year before the grass court Grand Slam was cancelled for the first time since the Second World War.

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Moldovan tennis player Dmitrii Baskov has been hailed as an Indian hero after joining a campaign to feed Ahmedabad's poor, who are struggling during the COVID-19 pandemic. The Davis Cup player arrived in India in January to visit a tennis academy before the advancing pandemic prevented him from returning home. Dmitrii, 25, once a hitting partner for Wimbledon champion Simona Halep, has since been helping out by packaging food for the needy in Ahmedabad.

He is among a team packing bread, rice and other dishes at the Ace Tennis Academy, destined for the city's slums and containment zones. "My friend Pramesh Modi mentioned this [idea of feeding the poor] and I said yes, sounds great and the next day we did it and it continued day after day," said Dmitrii. "He is an Indian hero and could be a role model for a number of Indians who have not come out of their houses to even help out in one way or the other," said Mitul Parikh, who packs food alongside Dmitrii.

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