Currently, the entire Nation affected by the outbreak of the Novel Coronavirus. In these hard times, many families are finally financially affected and have no means to earn for the livelihood. Some can't buy a meal for their family, while others are struggling to buy sanitary products like gloves, masks, antiseptics, etc.

Akash Pillay, a 23 years old Pune based entrepreneur came forward to help these needy families by donating 10000 masks for two consecutive days. During this hard time, various shopkeepers are selling masks and other necessary products at an exorbitant price, and this was the major reason why Akash Pillay thought of doing this noble deed.

Talking about the same Akash Pillay says, "We have seen some people taking COVID-19 as a business opportunity, safety masks which cost 7 to 10 rupees are now costing 35 to 40 rupees per mask for no reason. People who work on daily wages cannot afford them during this lockdown period. They are forced to think about whether they should buy the safety stuff or a meal for the day. Which is why I decided to donate masks along with my friends and help them in whatever way I can."

The young lad is a BSC Graduate in Zoology and started working at an MNC right after he completed his graduation. He continued to work as an employee for about 2 years until he decided to start his own business.

Akash has a huge fondness towards anchoring and hosting which made him quit his job and start his agency named Storror Nightlife in Pune.

Right after establishing his own agency, Akash started receiving offers from brands for shoots and endorsements and within no time, Akash was one of the most successful event managers in Pune city. He is quite popular on social media a testimony of which is seen on his Instagram handle.

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India's fatality rate of COVID-19 patients is 3.3 per cent and recovery rate 28.83 per cent but the number of cases rose by a steep 3561 taking the total count beyond the 50,000 mark to 52,952. Of the total number of cases, 35,902 are active cases, 15,266 cured or discharged and 1,783 persons have died. While 3561 new confirmed cases have been added since yesterday, 1084 patients have been cured.

Health Minister Harsh Vardhan on Thursday held a meeting today with Health Ministers of Uttar Pradesh and Odisha, and senior officials from both Centre and the states to review the situation, actions being taken and preparedness for management of COVID-19.

He said that as on May 7, a total of 52,952 cases have been reported from the country. He noted that in comparison to other countries, India is in a better condition as the fatality rate is 3.3 per cent and recovery rate is 28.83 per cent.

The minister said that 4.8 per cent patients in ICU, 1.1 per cent on ventilators and 3.3 per cent on oxygen support of the active cases. The testing capacity has increased in the country and it is 95,000 tests per day. Cumulatively, 13,57,442 tests have been done so far for COVID 19. There are 180 districts with no new cases in less than 7 days, 180 districts with no new cases in 7-13 days, 164 districts which have not had any new case in 14- 20 days and 136 districts with no new cases since the last 21-28 days.

In view of the increase in the number of migrant labour expected to reach their native states in the days to come, Harsh Vardhan noted that robust strategy and mechanism need to be drawn up for their testing, quarantine, and treatment of the positive cases.

States were also informed that helpline number 104 in addition to 1075 can be used for grievance redress for non-COVID essential services. They were advised to take adequate measures for prevention of vector diseases. AIIMS-Delhi Director Dr Randeep Guleria said that as per the modeling data and the way India's COVID-19 cases are increasing, it is likely that peak can come in June and July. Maharashtra continues to have the highest number of cases in the country at 16,758 followed by Gujarat (6,625) and Delhi (5,532)

No new case of COVID-19 has been reported in Kerala on Thursday and the total number of active cases stands at 25. The Union Health Minister and Minister of State for AYUSH Shripad Yesso Naik jointly launched clinical research studies on Ayurveda interventions as an add-on to standard care to COVID 19 situation and AyushSanjivani application.

Vice President and Chairman Rajya Sabha M. Venkaiah Naidu held a meeting with Lok Sabha Speaker Om Birla and discussed the situation regarding COVID19 disease in the country and role being played by members of Parliament. Naidu and Birla also discussed the issue of feasibility of various committees of Parliament holding their meetings at the earliest in the prevailing situation. They felt that if the situation does not allow regular conventional meetings of the committees in the near future, alternative means of enabling such meetings may be explored.

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Late on Thursday evening, nearly 350 Keralites from Abu Dhabi and Dubai arrived at Kochi and Calicut International Airport, in the first batch of repatriated stranded Indians in UAE.

Three special Air India Express flights left for Abu Dhabi and Dubai to bring them back. "As per the state health department directives, all passengers will be screened and have to undergo compulsory quarantine / isolation for 14 days, a regular check up and a swab test. If someone has COVID-19 and shows symptoms within the first seven days, they will be shifted to the district (Ernakulam) Medical College for treatment. Those who show negative results will be allowed to go home, but must complete remaining seven days of quarantine at home and health officials will contact them regularly to check on symptoms," explained a senior health officer from State Health Ministry.

Hari Krishna Namboothiri, CEO, Department of Non-Resident Keralites Affairs, (NORKA) informed mid-day, "We are anticipating around 3,000 Indians to return to Kerala. Early Friday morning we are expecting another Air India Express flight to get around similar number of (177) passengers excluding crew to arrive from Riyadh to Calicut."

When asked about the three warships which have headed to the Maldives and Dubai, Hari Krishna said, "The Naval warship will leave from the Maldives by Friday and we are expecting them to reach Kochi within two days. We haven't got the entire list of passengers coming by ship, so far we have 500 peoples' names, and the number might go further up, which will be clear by Friday. Passengers repatriated through both the air and water ways mode of transport, will be quarantined and so far we have got around 4.50 lakh requests registered on our portal.

Dr Prasanna Kumari, Superintendent Aluva Government Hospital said, "We are a 227-bedded hospital but not a COVID-19 designated hospital. We have made arrangements for suspected cases, for which nine single bed isolation rooms are ready, also in case any of the suspects require hospital support, we will shift them to Ernakulam Medical College, which is a COVID-19 designated hospital in the district."

" We can easily arrange for 350 beds, and have 30 to 40 isolation rooms for suspected cases, and a similar number of beds in the ICU, with nearly 30 ventilator support facilities. Only those passengers who show COVID-19 symptoms will be transferred to our medical college for further line of treatment," said Dr Peter Vazhyail, medical superintendent at Ernakulam Medical College.

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With a surge of 3,390 new cases and 103 new fatalities, the total tally of novel Coronavirus cases in India stood at 56,342 on Friday, the Union Health Ministry said. Of the total cases, 37,916 are active while 1,886 people have lost their lives. A total of 16,593 though have recovered as India undergoes the third-phase of the nation-wide lockdown. The total tally also includes 111 foreign nationals and one migrated patient, said the Health Ministry.

Maharashtra continues at the top of the tally with 17,974 cases and 694 fatalities, while 3,301 people were cured in the state. It is followed by Gujarat with 7,012 cases and 425 deaths and 1,709 recovered. There are at least 5,980 cases in the national capital with 1,931 recoveries and 66 deaths. Other states which saw an increased number of cases are Tamil Nadu (5,409), Rajasthan (3,427), Madhya Pradesh (3,252) and Uttar Pradesh (3,071).

States which have reported more than thousand cases are Andhra Pradesh (1,847), Punjab (1,644), West Bengal (1,548) and Telangana (1,123).

While Goa conyinues to be Corona-free, in the Northeast it is Tripura that surpassed Assam and now has 65 cases as Assam reported 54 cases. Other NE states that have reported COVID-19 cases are Meghalaya (12) Manipur (2), Mizoram (1) and Arunachal Pradesh (1).

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As many as 216 districts in the country have not reported any COVID-19 cases till now, 42 districts have not registered any infections in the last 28 days and 29 districts have not recorded any case in the last 21 days, the Union health ministry said on Friday. The ministry asserted that if dos and don'ts are followed, the peak in number of COVID-19 cases can be avoided. Addressing a press conference, joint secretary in the health ministry Lav Agarwal said India's recovery rate stands at 29.36 per cent with 16,540 COVID-19 patients cured till now, including 1,273 who recovered in the last 24 hours.

A total of 3,390 COVID-19 cases and 103 deaths have been reported in the last 24 hours till Friday 8 am, taking the total number of cases to 56,342 and death toll to 1,886, according to the ministry.

Giving a district-wise situation, Agarwal said there are 216 districts in which no COVID-19 case has been reported till date. Forty-two districts have had no fresh cases in the last 28 days, there are 29 districts with no fresh cases in the last 21 days, 36 districts with no fresh cases in the last 14 days and 46 districts with no fresh cases in the last seven days, he said.

Asked about AIIMS Delhi Director, Dr Randeep Guleria's remarks citing data that the peak of the disease in India may be reached in June or July, Agarwal said, "If we follow dos and don'ts, we may not reach the peak in number of COVID-19 cases and our curve may remain flat."

Agarwal also said that that the ICMR will conduct clinical trial to assess the safety and efficacy of convalescent plasma therapy in 21 hospitals. The hospitals where the trials will be conducted comprise five from Maharashtra, four from Gujarat, two each from Rajasthan, Tamil Nadu, Madhya Pradesh, UP and one each from Karnataka, Chandigarh, Punjab, Telangana.

He said 3.2 per cent of total active COVID-19 cases are on oxygen support, 4.2 per cent in ICU and 1.1 per cent on ventilator. During the briefing, Agarwal also said the railways has converted 5,231 coaches into COVID Care Centres which will be placed at 215 identified railway stations and will be used for treatment of very mild and mild COVID19 patients.

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Total number of Covid-19 cases in the country mounted to 59,662 on Saturday, with 3,320 cases and 95 deaths reported in the last 24 hours, the Union Health Ministry said. Of the total, 39,834 are active cases, 17,846 people have recovered, and 1,981 people have succumbed to the disease. Maharashtra remained the worst hit state with a total number of cases rising to 19,063, followed by Gujarat which has reported 7,402 cases. Delhi has reported 6,318 cases and Tamil Nadu 6,009 cases, according to the Health Ministry data.

Maharashtra has also recorded 731 deaths so far, the highest number of casualties among all the states. Other states which have jumped the 3,000 mark are Madhya Pradesh (3,341), Rajasthan (3,579), Tamil Nadu (6,009) and Uttar Pradesh (3,214). Among other major cities, Andhra Pradesh has reported 1,887 and 41 deaths, Bihar stood at 571 cases and five deaths, Haryana at 647 and eight deaths, Jammu and Kashmir at 823 cases and nine deaths, Karnataka at 753 and 30 deaths and Kerala was docked at 503 and four deaths.

States which have reported less than 10 cases are -- Tripura, Mizoram, Puducherry, Manipur, Goa and Arunanchal Pradesh.

On the global front, the total number of cases are about to touch four million mark and over two lakh people have died due to coronavirus till now.

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American actor Matthew McConaughey and his wife, Camila, donated approximately 80,000 face masks to COVID-19 first responders in Texas and Louisiana, officials said. The couple gave away the masks at the Austin Fire Department on Friday, Fox News said quoting KEYE.

Expressing its gratitude, the Austin Fire Department tweeted on Saturday, "The C-shift at Station 32 got a surprise yesterday, when McConaughey and @iamcamilaalves stopped by to let us know we're getting several 1,000 N-95 masks soon, part of their donation of 80K to healthcare workers, FFs, and police officers in #ATX and #NOLA! DC T.

just keep winning #HookEm @UTAustin @Jeopardy https://t.co/eqdQf8FAL2

— Matthew McConaughey (@McConaughey) April 7, 2020

Smith, AFD" Earlier on Sunday, the COVID-19 death toll in Texas reached 270, following a rise of nearly 1,000 more positive tests for the disease in the state. Overall, roughly 13,500 cases have been reported so far, according to Fox News. Camila wrote on Instagram about the donations. She wrote, "Our mission is to protect those who protect us, by providing healthcare workers, firefighters, police officers and others with approximately 80,000 masks needed to battle the #COVID19 virus."

She hoped that the move would "inspire you to pick a lane to help others whatever that lane is even if your lane is helping your neighbour, calling people, emotional support, donations, volunteer... pick a lane and do it well! Stay strong this too shall pass..." Last month, McConaughey urged students at the University of Texas in Austin to stay at their homes after dozens tested positive following an ill-fated spring-break trip to Mexico.

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Rapper Pitbull has dropped his latest song, "I believe that we will win". Proceeds from the song will be donated to coronavirus relief efforts across the globe.

He has released the song along with a lyric video showcasing the song's inspiring message, reports etonline.com. "You know what spreads faster than any virus? Fear/And when it comes to fear, you can either forget everything and run, or you can face everything and rise," Pitbull raps in the track.

"Let me tell you what I believe/ I believe we will face everything and rise." Pitbull had asked healthcare workers, parents and more to be a part of his new music video, which is yet to drop, last week.

"We believe that we can overcome. We are calling all students, medical workers, first responders, parents, grandparents, everyone from all over the world to be a part of Pitbull's video anthem. Proceeds will be going to various charities around that world," read a notice asking fans to submit videos of themselves dancing to the song.

Pitbull has been encouraging fans to maintain hope amid the coronavirus outbreak. "Let's show the world, how powerful it is when we come together to fight for one cause - that's called life," he had posted on Instagram on March 28.

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'Live from Zoom, it's sometime between March and August!' The show that has received over 250 Emmy nominations in the past 5 decades, returns for a home edition, with a surprise host. With all our favourite shows going on Hiatus, the cast of the popular Talk show – Saturday Night Live came up with a special episode – 'Saturday Night Live at Home' to entertain the audience in their own quirky way. Watch how the show feels without all those specially crafted costumes and elaborative setups, highlighting the simplicity of the comedy.

The show, best known for featuring celebrity hosts, invites someone special for this edition. Having recently recovered from Coronavirus himself and been frequent on Saturday Night Live, Tom Hanks graces the show from his kitchen to host the first-ever remote episode of the famous talk show. Lighten up your Saturday evenings as you watch the rest of the cast members at home, in their kitchens, sleeping in their beds and hanging out with
their kids.

As the cast remains in self-isolation, the audience can watch Beck Bennet doing the dishes, Heidi Gardner deadlifting cartons of milk, and Alex Moffat sitting on his porch. The "remotely produced content" also includes Coldplay singer Chris Martin, Colin Jost and Michael Che, with the former playing Bob Dylan's "Shelter From the Storm" and the latter two hosting their "Weekend Update."

With all the stars gathered virtually to entertain you with a truckload of specials, the episode will air exclusively on Comedy Central on Saturday at 9 pm.

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A chance to act with Leo and De Niro

Leonardo DiCaprio and Robert De Niro are giving fans the chance to appear in their upcoming film, Martin Scorsese’s adaptation of Killers of the Flower Moon. DiCaprio and De Niro are using the upcoming production to raise funds for the All-In Challenge, an online initiative that gives stars from all corners of the entertainment industry a chance to offer donation initiatives to benefit America’s Food Fund, as per reports. They explained that those who make a donation will have a chance to win a walk-on role in the production.

Ellie helps those in lockdown

Singer Ellie Goulding has helped source 400 mobile phones, which will be given to homeless people to help them through the lockdown. The distribution of the phones began on April 15. The phones will go towards people that the organisation, Crisis, supports, as well as those who are staying in hotels across London.

Tom Hardy to read bed-time stories

Tom Hardy will read night-time tales on the long-running series Bedtime Stories. The episodes of the BBC Children’s channel CBeebies will run from April 27 through May 1. The episodes were shot in Hardy’s garden, following social distancing guidelines. He will be joined by his French bulldog named Blue for some of the bedtime stories. The development, the channel alludes, is a step further in providing engaging content relevant to the situation. 

Ben, Matt play poker

Ben Affleck, Matt Damon and other stars raised $1.75mn through poker, for an online celebrity poker tournament, All In For America’s Charity. They raised $1.75 million for Feeding America, a non-profit organisation that distributes food to those in need amid  the outbreak, as per reports. Celebrities such as Tom Brady, Adam Sandler and Bryan Cranston bought in for $10,000 each at the food bank fundraiser.

Off screen superhero Krasinski to play one on screen?

Actor John Krasinski, who has been lifting spirits amid the pandemic with his series, Some Good News, has reportedly met with Marvel Studios for an unspecified project. Although details about the project are awaited, it is reported that Marvel has been holding “virtual meetings” with actors, directors and writers lately, and Krasinski was one of them. It also indicated that Krasinski might be in talks for a role in Young Avengers. Another possibility that the site mentioned is a Fantastic Four reboot. Neither Marvel nor Krasinski has confirmed the development.

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Pop star Rihanna's father Ronald Fenty tested positive for COVID-19, but he has survived the illness with the help of his superstar daughter. Fenty tested positive for coronavirus at home in Barbados. He feared he would die after testing positive for the novel coronavirus and suffering high fevers, reports thesun.co.uk.

He said his daughter, whose real name is Robyn Fenty, sent a ventilator to his home, and checked on him every day. "My daughter Robyn was checking in on me every day. I thought I was going to die to be honest. I have to say, I love you so much, Robyn'. She did so much for me. I appreciate everything she has done," the 66-year-old said.

He revealed his superstar daughter, 32, sent in a ventilator "that he hadn't used yet", and shipped it to his home in the Caribbean. He said that she gave him "more than" he needed to make it through the illness. Recalling his time with the illness, he said: "I got a fever up inside of my nose. I had a fever across my lips. It was just a lot of fever. I feared the worst. I thought I was going to die, honestly."

He had a message for everyone. "I want everybody to stay home. This is a serious situation. More serious than people realise. Please stay home," he said.

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Veteran singer-actor Rita Wilson has said that it was easier for her to cope with the coronavirus as she was accompanied by her husband, Hollywood star Tom Hanks. The couple were among the first Hollywood celebrities to be tested positive for COVID-19, which has claimed over 150,000 lives globally. Hanks and Wilson were in Australia when they were diagnosed with the coronavirus. They have now recovered from it.

Talking with The Guardian, Wilson, 63, said the ordeal was a lot easier since they both had symptoms at the same time. "I think that having the virus at the same time made it that little bit easier. We were taking care of each other instead of having the pressure of taking care of one person and no one taking care of you or understanding that the person at home needs a break. "We were fortunate we were in a place where we understood what the other was going through," she said. However, Wilson, who previously battled breast cancer, said suffering from the COVID-19 was extremely difficult. "We both had a high fever and were extremely achey. I lost my sense of taste and smell, had stomach issues and shivering like you wouldn't believe. Yeah, I was scared.

"Extreme nausea, vertigo, my muscles felt like wet noodles, so I couldn't really stand. We were just trying to get through it," she added. Wilson said that Hanks, 63, presented'milder symptoms¿ than she had. "He did not have as high a fever. He did not lose his sense of taste or smell. But it still took us the same amount of time to get through it," she added. In a separate interview with The National Defense Radio Show, Hanks agreed that Wilson had a much tougher time than he did. "Rita had a much tougher time than I did. She had a much higher fever. She had lost her sense of taste and sense of smell. I had some bad body aches and fatigue," he said. Hanks recalled when he was locked down in a hospital with Wilson, he baffled a doctor by trying to do an exercise that left him "wiped" after just ten minutes. "She looked at me through her glasses like she was talking to the dumbest human being, and she said, (sternly) 'You have COVID-19'," the actor said.

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Popstar Beyonce Knowles has pledged $6 million to fund mental health support during the ongoing COVID-19 pandemic. Beyonce's BeyGOOD has partnered with Twitter CEO Jack Dorsey's #startsmall to provide USD 6 million to fund the mental health and personal wellness services, reports variety.com.

The 38-year-old singer shared the update on her website. "Beyonce's BeyGOOD recognises the immense mental and personal health burdens being placed on essential workers during the COVID-19 pandemic," read the organisation's official statement, adding: "In our major cities, African-Americans comprise a disproportionate number of workers in these indispensable occupations, and they will need mental health support and personal wellness care, including testing and medical services, food supplies and food deliveries, both during and after the crisis."

The mental health initiative includes a key national partnership with UCLA. BeyGOOD has also partnered with the National Alliance in Mental Illness, which provides local support in Houston, New York, New Orleans and Detroit. BeyGOOD is also supporting United Memorial Center, Bread of Life, Matthew 25 and other organisations to help provide basic necessities, including food, water, cleaning supplies, medicines and face masks.

Earlier this month, Beyonce highlighted the deadly impact of the coronavirus pandemic on African American communities during her stint inA "One World: Together at Home" virtual concert, saying the virus is killing black people at an alarmingly high rate in the US.

The 38-year-old singer highlighted the plight of African-American community, saying: "Black Americans belong to these parts of the workforce that don't have the luxury of working from home. And African-American communities at large have been severely affected. Those with pre-existing conditions are at higher risk."

"This virus is killing black people at an alarmingly high rate in America," added the Grammy Award-winning artist.

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Grammy-nominated gospel singer Troy Sneed has died from complications with the coronavirus. He was 52. Sneed's publicist, Bill Carpenter, shared that the singer passed away on Monday at a hospital in Jacksonville, Florida, reports usatoday.com.

Sneed earned a Grammy nomination for his work on the Youth For Christ's 1999 album, "Higher". The singer traveled throughout the US early in his career to sing the gospel with the Georgia Mass Choir. He arranged music on their albums and appeared with the choir in the 1996 film "The Preacher's Wife" starring Whitney Houston and Denzel Washington. He also served as a producer on Youth For Christ's "The Struggle Is Over", which was at No. 1 on Billboard's gospel songs chart in 2006.

As a solo artist, Sneed released seven albums and had several hit songs within the gospel realm including "Work it out" and "My heart says yes". He is also known for the upbeat "Hallelujah".

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Pop diva Madonna has revealed that she has tested positive for the COVID-19 antibodies. The singer shared the news in the 14th edition of her 'Quarantine Diary' on Instagram TV.

"Took a test the other day and I found out that I have the antibodies. So tomorrow I'm just going to go for a long drive in the car, and I'm gonna roll down the window and I'm gonna breathe in the COVID-19 air. Yup. I hope the sun is shining," Madonna said.

According to Centers for Disease Control and Prevention (CDC), US, antibody tests are used to determine whether or not a person has been exposed to COVID-19 by finding proteins the body produces to fight the virus. However, the CDC has yet to confirm if the possession of antibodies is equal to immunity.

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Actress Millie Bobby Brown has donated over $18,000 to the staff of National Health Service, who are fighting the COVID-19 pandemic. The "Stranger Things" actress has donated over $6000 each to Bournemouth Hospital Charity, Salisbury District Hospital Stars Appeal and Southampton Hospitals Charity, reports dailymail.co.uk.

The proceedings will go to supporting workers throughout the pandemic.

The 16-year-old actress said: "Britain's NHS workers -- and all carers -- are an inspiration to us all and are the nation's heroes. I am in awe of every one of them and just wanted to thank those risking their lives - particularly in hospitals on the South coast. The area is very dear to me and my family and I cannot wait to visit again soon. Keep up the brilliant work and stay safe. Thank you. You are all amazing."

The items that will be bought by the donations include personal care packages, non-perishable food and drink and access to psychologists.

"We are committed to supporting the mental and physical wellbeing of our staff at this time, and thanks to the generous donations we have already received we have already purchased health and wellbeing books, toiletries, refreshments, and white boards to communicate with patients and other staff members when wearing PPE," said Debbie Anderson, head of charity for Bournemouth Hospital Charity.

Brown will appear next in the films "Godzilla vs Kong" and "Enola Holmes".

She is currently in the US, where she is self-isolating. The actress said that she is recording music during the lockdown.

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American actor Jennifer Aniston is sick and tired of the novel coronavirus and is asking it to go away in her own unique style. She shared a picture on Instagram where she is seen flipping Covid-19 the bird and asking it to go away. The 'Friends' star took to Instagram on Thursday (local time) and shared a throwback image of herself giving the middle finger to something or someone. Along with the picture she wrote, "Dear Covid... You can kindly F**k off now thank you BYE."

In the picture, Aniston is seen sporting a grey tank top and orange pants, sitting at an outdoor dining table as she pulls back her hair into a ponytail. The picture received more than 3.5 million likes and the official Oprah magazine Instagram account commented: "Nothing but respect for our President Jennifer Aniston."

According to Fox News, the 'We're the Millers' star's latest post comes just hours after she shared a similar vibe on her Instagram Story from her time being holed up in her Los Angeles residence with her two dogs. In the photo, Aniston is seen sitting in front of her washing machine, watching it spin while the American rapper Tyga's single 'Bored in the House' played on the snap.

 

 

 

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A post shared by Jennifer Aniston (@jenniferaniston) onMay 7, 2020 at 11:14am PDT

Recently, the 'Murder Mystery' star told Jimmy Kimmel that she was finding the shelter-at-home period easier to adjust to than she expected. Aniston told the late-night host in early April during a video appearance on 'Jimmy Kimmel Live,'"I'm a born agoraphobe. This is kind of a dream." She continued, "Not a dream, it's obviously a nightmare. But, me personally, it's not been that much of a challenge. The most challenging thing is watching the news and trying to digest [everything] that's going on out there."

Aniston also surprised Kimball Fairbanks, a cardiovascular nurse from Utah, who contracted the virus with a 10,000 USD gift certificate from Postmates.

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Over 100 policemen, who were attacked by an angry mob when they had gone to a minority dominated area in the city to quarantine some people, have tested negative for coronavirus, a top police official said on Tuesday.

Of the 126 miscreants arrested, five had tested positive creating a scare not only in Padarayanapura, but also among the police personnel who apprehended them and the staff at the Ramanagara district jail, where they were initially lodged. Sharing the information on Twitter, Bengaluru police commissioner Bhaskar Rao said, "Led by our Home Minister Basavaraj Bommai, over 100 of us policemen who had ventured into Padrayanapura underwent the Covid 19 Test and to much relief came Negative. Blessings of Bangaloreans."

On April 19, a police team had gone to Padarayanapura locality with some health officials to quarantine 43 people, who were the primary and secondary contacts of a COVID-19 patient, and were thrashed by a violent crowd. Five cases were registered in this connection and 126 were arrested.

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A huge collaboration has dropped. Singers Justin Bieber and Ariana Grande have teamed up for their first-ever collaboration 'Stuck With U' which is for Covid-19 relief. After years of wait, the two singers have come together for a very special cause.

The lyrics goes, "So, lock the door and throw out the key / Can't fight this no more, It's just you and me / And there's nothin' I, nothin' I, I can do / I'm stuck with you, stuck with you, stuck with you."

“Grateful to announce that my friend and i have partnered with @1strcf and @sb_projects on this release. proceeds from the streams and sales of #stuckwithu will be donated to first responders children’s foundation to fund grants and scholarships for children of healthcare workers, emergency medical technicians (EMTs), paramedics, police officers and firefighters serving at the front lines during the global pandemic,” Ariana said on her Instagram.

 

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Stuck With U by me and @justinbieber. May 8. ???? grateful to announce that my friend and i have partnered with @1strcf and @sb_projects on this release. proceeds from the streams and sales of #stuckwithu will be donated to first responders children’s foundation to fund grants and scholarships for children of healthcare workers, emergency medical technicians (EMTs), paramedics, police officers and firefighters serving at the front lines during the global pandemic ???? pre-save now and check back later today for more. ???????????? artwork by one of my favorite artists @lianafinck

A post shared by Ariana Grande (@arianagrande) on May 1, 2020 at 10:00am PDT

Justin Bieber said in a statement to Just Jared, “More than ever we are seeing the selfless, tireless and amazing work that doctors, nurses, and healthcare providers give to the world every day. It is our hope we can lend our voices to raise awareness and give much-needed support for them and their families. It’s my honor to come together with my friend Ariana and our SB Projects family to try and do some good.”

 

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2 babies all grown up finally collaborate! Excited for tonight @arianagrande

A post shared by Justin Bieber (@justinbieber) on May 7, 2020 at 5:17pm PDT

Check it out:

ALSO READ: When BTS member Jungkook attended Ariana Grande’s concert during Sweetener tour, watch videos

Across the EU, many people are worried about the novel coronavirus and its rapid spread. The EU project PREPARE, which began in 2014, is responding to COVID-19 by rapidly assessing Europe’s preparedness and deploying vital clinical research.

Indian football team striker Jeje Lalpekhlua has come to the rescue of people in dire need of blood when it is not readily available in Mizoram due to the extraordinary situation arising out of the COVID-19 pandemic. India is under a lockdown enforced to contain the Coronavirus.

"Due to the lockdown blood units are not readily available nowadays. So the hospital connected with the Young Mizo Association is seeking help. The news reached me and I knew immediately what I needed to do," he stated. "You cannot keep quiet and sit idle during such circumstances." He immediately rushed to the Synod Hospital in Durtlang, Mizoram to donate blood.

"Upon receiving the information, we chalked out our plan. We headed to the hospital from the Durtlang branch of YMA. Out of 33 who had reported, 27 were deemed fit to donate," Jeje informed. "It's not about me or someone else, it's about the human race that needs to fight together now, more than ever." The Young Mizo Association (YMA) is the largest non-governmental voluntary organisation which operates primarily in Mizoram and some parts of the other north-eastern states as well.

"It is so satisfying that I have been able to play a minor role. I thank the Almighty for giving me the strength." This is not the first time that Jeje has been involved in philanthropic activities. He has time and again rose to the cause in Mizoram whenever the situation has demanded. "Someone had to stand by them. If a hospital is falling short of blood units, we need to help. We all need to play our part during the crisis. The most difficult part, I understand is to stay at home. But it's very necessary. The longer we stay at home, the faster will India heal," added Jeje.

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South African model Anna Modler has given clear indication that she is in lockdown with Chilean footballer Alexis Sanchez.

Rumours of Anna dating the footballer emerged after she shared a picture of her posing next to Alexis's Golden Retrievers, Atom and Humber last month.

Last week, she shared another picture on Instagram with the canines and wrote: "Thank you for stopping me from working out. I agree, it's definitely time to eat."

Commenting on the picture, one of her model friends, Morgan Shelly wrote in South African slang: "Lekker man. Nice to see you're hanging out with your family," to which, she replied: "Thank you Morgan."

Meanwhile, a follower commented: "Isn't love beautiful!! You made Alexis happy. Stay with him."

Another wrote: "Come on!! We all know you Alexis girlfriend. Post a photo with him already."

Interestingly, neither Alexis, 31, nor Anna, 22, follow each other on social media, but Anna does follow the Instagram account of the footballer's pets.

Alexis and Anna were first pictured together at a train station in Wilmslow, United Kingdom, last August before the former Arsenal star left Manchester United.

However, her identity was a mystery then.

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Real Sociedad said Saturday they were cutting players' wages by up to 20 percent in an attempt to stabilise the club's budget during the coronavirus crisis. "An agreement has been reached with the first team for the reduction of their wages by 20% in case the league does not resume this season, and by 5% in case the season can start again," said a club statement. "This decision, taken with all of the parties concerned, helps us avoid traumatic measures for the rest of our employees and helps to balance the club's economic objectives in the face of a drop in income suffered after the suspension of competition."

Real Sociedad also announced a 20% refund on season tickets for its supporters. At the time of the La Liga suspension last month, Real Sociedad were in fourth place in the championship. They had also qualified for the Copa del Rey final against Athletic Bilbao in Seville on a date still to be decided. Real Madrid had already announced wage cuts, estimated by Spanish media to be 10% if the season resumes and 20% if the league is abandoned. Barcelona and Atletico Madrid have cut salaries by 70%. Spain is one of the worst-hit nations by the virus which has already claimed more than 16,300 lives in the country. bur/dr/dep/clv/dj/mwt again," said a club statement.

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Liverpool legend Kenny Dalglish thanked fans for their support on Sunday after leaving hospital following a positive test for the coronavirus. Dalglish, 69, found he had the virus after being admitted to hospital on Wednesday for treatment for a separate infection which required intravenous antibiotics. He was discharged on Saturday night. "Thank you for all of your well wishes over the last few days," said Dalglish in a Liverpool statement issued Sunday. "I'm delighted to be back home with the family after receiving brilliant care from the NHS (Britain's National Health Service), which we appreciate now more than ever. "Marina (Dalglish's wife) and I would like to express our immense gratitude to the medical staff who cared for me and who continue to treat countless others throughout the country during an incredibly challenging period."

Dalglish confirmed the couple would be in "full lockdown for the recommended amount of time in order to protect the lives of others". There are fears that the warm weather across Britain over the Easter weekend will see the public flout government guidelines on social distancing instead of only going out to maintain health and purchase essential supplies. But a concerned Dalglish said: "I know the sun is shining for many of you, but I urge you to stay home and follow the government guidelines to the letter." Earlier the Scotland great, in an interview with the Sunday Post, praised the "absolutely brilliant" hospital staff, adding: "People may think my name got me the best of care but every patient in the NHS gets the best of care." On Friday, Dalglish's family said he had tested positive for COVID-19 despite having previously displayed no symptoms of the illness.

'Humbling messages'
Saturday saw two of Dalglish's children take to Twitter to thank the public for their support. Paul Dalglish, also a former player, said: "Truly humbling messages from supporters of all teams," with Dalglish's daughter, Sky Sports presenter Kelly Cates, saying: "Thank you so much for your lovely messages and I'm really sorry I can't reply to them all." Liverpool goalkeeper Alisson Becker said on Twitter: "Love from Becker family to Sir Kenny Dalglish!!" Ian Rush formed a prolific partnership with Dalglish during their playing days at Liverpool and the Welshman took to Twitter to give his old team-mate his best wishes.

"Wishing a speedy recovery to the best...Sir Kenny Dalglish. Get well soon," he wrote. Dalglish won the Scottish league title with Celtic as a player on four occasions before signing for Liverpool in 1977. At Anfield, he captured eight English league titles, two FA Cups, five League Cups and three European Cups as a player and in two managerial spells. In his Liverpool playing career, Dalglish scored 172 goals in 515 games. As well as his role in Liverpool's golden era in the 1970s and 1980s, Dalglish received plaudits for supporting victims' families after 96 fans died in the 1989 Hillsborough stadium disaster. He also coached Blackburn to the 1995 Premier League title. Almost 10,000 people in Britain have so far died as a result of the coronavirus.

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If it is CK Vineeth responding to the COVID-19 helpline in Kerala, his Indian teammate Subhashish Bose has taken it upon himself to feed the homeless and jobless in his home town Subhasgram in South 24 parganas. Amid the nationwide lockdown, a long queue could be seen every morning at Subhasgram comprising of local rickshaw pullers, daily wage earners or small time hawkers who come to collect their daily ration. Bose, a member of the 'Blue Tigers' would be at the other end, happily distributing packets containing rice, pulses, potatoes, onions and other staple food items. This is his way of paying back to the society. "The rickshaw pullers who have so many times offered me free rides to-and-fro to local matches, that local vendor and shopkeeper who had gifted me so many free packets of food after heart-warming performances -- I felt I needed to pay them back," the India left-back told PTI of his daily regime since Friday.

"It was such a satisfaction to hand over some food items to lot many known faces whom I have known in my locality over my upbringing." India had imposed a nationwide lockdown since March 24 to curb the spread of COVID-19 pandemic and the worst-hit were people from the lower strata of the society whose life revolve around their daily wages. One fine morning, the 24-year-old felt restless and was awakened by the Swami Vivekananda's soul-stirring words 'Arise, Awake, And Stop Not Till the Goal is Reached!' "It kept on reverberating between my ears. My conscience did not allow me to shy away -- rather it kept on pushing me to give it back to the society where I have grown up."

"Somewhere down the line, however, I felt restless. It's understandable that even as we need to Stay Home Stay Safe, there have been so many brave hearts who have cared less for their lives, and are out to serve the country in this troubled time -- the doctors, nurses, cleaners, police, journalists, etc. It's not only the frontline workers, who are put their lives on line but citizens need to do their bit, reckons Bose. "But are they enough? Can we all just sit back on our cosy rooms, and expect the privilege of others keeping us safe? Don't we need more volunteers? And eventually, I had to move out -- not for fun, not to have a roam, but try to lend a helping hand," he said. He is thankfu to GOd that he has made a decent living as a footballer playing in the cash-ruch Indian Super League and for the Indian team. "God is kind, that today I am able to help them. Thank you, Lord for providing me with the strength. All of that was done by maintaining social distancing, and proper protection.

"All of them whom I handed over packets wanted to hug me but couldn't because of the social distancing. "Some of them had tears in their eyes. Their hugs can wait as we need nrmalcy to return. Till then stay home, and stay safe," he added. The Mumbai City FC defender was looking forward to the Indian camp when the pandemic halted all sporting activities. "A longer camp for the national team was planned and we were forward to it. But under current circumstances all sporting action around the world has been postponed." Asked whether he's missing the game, he replied: "Human lives are of utmost importance, and like everyone around us, I look forward for normalcy to return soon." The defender however regrets that he's not able to go out for runs so he's making the best use of the time at his private gym. "I cannot go out for my runs. So I am trying to keep myself as much fit as possible indoors. I try to sweat out at least two hours a day in my personal gym so that I stay in proper shape when the season resumes. "There is also monitoring from the medical staff, and we need to strict to the regimes provided," he concluded.

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Former Manchester United star Marouane Fellaini was discharged on Tuesday after spending more than three weeks in a Chinese hospital being treated for coronavirus. The 32-year-old midfielder, the only player known to have contracted the disease in the Chinese Super League (CSL), will now spend 14 days in quarantine for further observation, his club Shandong Luneng said.

The Belgium international said on March 22 that he had tested positive for the virus, having just returned to China, but assured fans that he was feeling fine. Fellaini posted videos of himself on Instagram exercising in his room while in hospital in the eastern city of Jinan. In an Instagram update on Tuesday, he wrote: "The time has come for me to thank from the bottom of my heart the medical staff of the hospital, their nursing staff as well as my club and its medical staff for taking such good care of me with so much kindness and for ensuring my comfort whilst there. "The hardest part is behind me! Let's keep fighting, it's important."

China, where the outbreak emerged in December, says it has curbed the illness at home but is now worried about a second wave of infections from overseas. Fellaini's positive test dealt a blow to the CSL's hopes of beginning the season any time soon, after its February 22 start date was indefinitely postponed. Fellaini, also formerly of Everton, joined Shandong from Manchester United in February last year for a reported 7.2 million euros.

He enjoyed a productive first season in China, scoring 12 goals in 34 matches and providing five assists.

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Most international football might not be played until 2021 due to Coronavirus pandemic travel restrictions and the need to give club competitions the chance to resume, a FIFA vice president has said. Victor Montagliani, a Canadian, who is president of the governing body for North and Central America and the Caribbean, has been heading a FIFA working group formulating plans to deal with the implications of the world's biggest sport being largely shut down since last month.

FIFA already has called off matches between countries that were due to be played in March and June. Montagliani, CONCACAF's president, believes the September, October and November windows for national team matches could be scrapped. "I personally think that might be a bit of a challenge, not so much because of just the health issues around the world and the various degrees of preparedness, but also committing to international travel as soon as we come back," Montagliani told The Associated Press.

Montagliani

"I think that domestic football is a priority. September is still in the books, but I would garner to say that I'm not sure it's there on solid ground the way things are trending right now." The return of fans into packed stadiums could be dependent on a vaccine for the COVID-19 disease being ready—and that might not be until 2021. "If we get the green light to play a football match. I highly doubt that first football match will be with fans. I just can't see that. I think that would be taken a massive risk," he said in a video interview from Vancouver, British Columbia.

"I'm pretty sure it'll be a phased in approach, just like the rest of society is going to be is then in terms of us trying to get back to normal here."

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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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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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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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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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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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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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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.

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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.

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.

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.

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.

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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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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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