Subimal "Chuni" Goswami came for a routine check-up to a city hospital on Thursday morning and by evening he had suffered three cardiac arrests in 14 minutes to breathe his last and end an era, his son said.

"He had breakfast. Then we got him to the hospital. He was brought here for a routine check-up. He had lunch and even took a nap in the afternoon. But around 5 p.m., he suffered three heart attacks in 14 minutes," said a crestfallen Sudipto.

Goswami, who died at the age of 82, is survived by his wife and Sudipto.

Goswami was also battling underlying ailments, including sugar, and prostrate and nerve problems.

Goswami had to be given insulin daily and due to the COVID-19 lockdown, his medical supervisor was not able to attend to him on a regular basis.

"I don't have words at this point, feeling lonely," said Sudipto.

Goswami's biggest achievement was captaining India to the 1962 Asian Games Gold medal when India scripted a historic 2-1 victory against South Korea (Korea Republic) in the final to land India its second gold medal in Asian Games history.

Besides two editions of the Asian Games, Goswami was also part of India's Olympic squad in the Rome Olympics in 1960. He also captained India to the final of the AFC Asian Cup in Tel Aviv in 1964 and was part of India's campaign in the pre-Olympic qualification in 1959 (in Kabul), 1960 (in Kolkata and Jakarta), 1963 (in Colombo as captain), and in 1964 in (Tehran and Calcutta).

Goswami won the Arjuna Award in 1963 and was conferred the prestigious Padma Shri Award in 1983.

The versatile sportsman that he was, he also represented Bengal in the Ranji Trophy and even captained Bengal in 1968-69 season. He also played for East Zone in the Duleep Trophy. His first-class career as a cricketer ended after 46 matches and he scored 1,592 runs, including a century.

He also served the Tata Football Academy as its director and was appointed the Sheriff of Kolkata in 2005. In the same year, he was awarded the Mohun Bagan Ratna and was bestowed the Banga Bibhusan in 2013.

The Indian postal department also honoured Goswami with a commemorative stamp on his 82nd birthday earlier this year.

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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.

Nidhi Tiwari (in orange) with her crew

I have always felt that mobility is key to empowerment — especially where women are concerned," says Nidhi Tiwari, an extreme terrain driver. Let us explain her job profile by outlining a few of her achievements — she is the first Indian woman to drive from Delhi to London in 2015, and became the first Indian to drive to the Pole of Cold in North Eastern Siberia in 2016. She also founded Women Beyond Boundaries (WBB) in 2015, which focuses on undertaking extreme overland journeys. Recently, Tiwari led a crew of five female drivers to Upper Mustang in Northern Nepal, and they became the first crew of women drivers to reach Lo Manthang (the erstwhile capital of the Kingdom of Mustang).

With an average height of around 13,000 feet, the area hosts two of the higher peaks in the Greater Himalayas that stand above 8,000 metres — the Dhaulagiri and Annapurna. "No women drivers from anywhere in the world had ever driven up the treacherous road to Lo Manthang. But then, every journey is about pushing boundaries," says the 37-year-old, who has been now driving for 13 years. The women drove from Delhi and entered Nepal via Gorakhpur to reach Pokhara in two days, from where started the off-road section into the Mustang Valley. Mustang is infamous for its non-existent and challenging roads punctuated by numerous streams and nallah crossings. A particular section between Muktinath and Tsarang, though only 36 km, took them eight hours. And then they headed to Lo Manthang, which is located just 50 km short of the Chinese border.

Five women drove the cars to Mustang

Delhi-based Tiwari may have been be well equipped with what such a journey entails but as they drove, major challenges cropped up. Most of the crew were city drivers and they were all learning on the go. "It was a very steep terrain, with plenty of blind corners," she describes. For example, one had to be very careful where they placed the wheel — there were instances where the road had a gorge on one side, and a river bed on the other. "But the way they adapted to the terrain — that transformation was a very big high for me," says Tiwari of her team. This could do with the kind of training Tiwari is known to provide. Her WBB workshops aim to make women self-sufficient as far as driving goes. "It's all about self-maintenance. A woman has to be ready to fix tyres."

Tiwari also chose her crew with care, making sure she had a varied bunch on the trip. There was an academician, a physiotherapist, an IT professional, and an e-commerce expert. "Extreme terrain is seen as a man's forte. We have broken that misconception. It threw the spotlight on some critical gender questions that have hovered around driving, expeditioning and the extreme terrain overlanding space. Along with being the first women to get there, we are also the second set of Indian vehicles to get there. Isn't that something?"

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The coronavirus pandemic has not just forced a suspension of all sporting events across the globe, it has also raised question marks on the future and whether the ICC should look at other options to help the bowlers keep the shine on the ball rather than using saliva or sweat. And Dinesh Karthik believes that there needs to be a definite balance between bat and ball.

"I believe that there should be a fair contest between bat and a ball which is missing now a days especially in white-ball cricket. But I don't know if they allow ball tampering, where would they put a stop to it because that will be really hard. They have to manage it. To get the ball to swing , you need sweat and saliva. With new ball you use saliva and when it grows old you use sweat. But in England they use Murray Mint to the saliva, it helps ball to swing a lot more. That's why Test cricket in England is so challenging," he said in the latest episode of ESPNcricinfo One on One #Workfromhome.

Talking about switching roles when playing for India and in the IPL, Karthik said: "With experience comes adaptability. Over a period of time what you need to learn is that as a middle-order batsman you should be able to bat anywhere between number 3 and 7 and sometimes even 8. The key is not to get attached to where you're batting but about which situation you're walking into and how can you give your best.

"T20 has evolved in such a way that it doesn't matter whether you're a 1 down batsman or a 2 down batsman. All you need to know when you walk into the game is -- is it the 8th over or the 11th over or the 14th over and then accordingly react to the situation and use your skill set to do your best."

Commenting on India's journey in the 2019 World Cup, Karthik said that the team had a very successful run and none had imagined that the journey would end against the Kiwis in the semi-finals.

"We believed that we will go all the way. Everything was working well for us. Though, in the last 2-3 years, the only time any team could challenge us is when they got 3-4 wickets upfront and that happened in the WC semi-finals. And that put a break on us. Obviously loosing semi-final still hurts. But in the lead up to the tournament we achieved something special, we played very good cricket," he said.

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[Source: Research & Innovation] The European Innovation Council (EIC) Accelerator Pilot will work with an extra €150 million to support game-changing innovations to tackle the coronavirus crisis. The additional budget, approved by the European Commission today, will fund the best start-ups and SMEs who applied under the March cut-off.

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Premature babies have the risk of reactive attachment disorder which can impair a child's ability to function in normal situations and their social interactions,

Mother-infant touch and contact play a key role in baby's brain development and function, suggests a new study. As the world prioritizes social distancing

Aging men with low testosterone levels who take testosterone replacement therapy (TRT) are at a greater risk of experiencing an ischemic stroke, transient

Fuel, a leading provider of guest-facing hotel software solutions and digital marketing services for the global hospitality industry, has expanded the digital-key functionality of its industry-leading mobile application for independent and boutique ...

Japanese multinational conglomerate company Hitachi Ltd. on Tuesday said it has developed a camera technology that can capture video images without using a lens, the first of this kind in Japan.

Levels of alcohol consumption in Switzerland have decreased in the last 30 years, but are still above the OECD average. In 2012, an average of 9.9 litres of pure alcohol per capita is consumed in Switzerland, compared with an estimate of 9.1 litres in the OECD.

A new targeted attack has infected several organizations in Taiwan with a new ransomware family, which we have dubbed ColdLock. This attack is potentially destructive as the ransomware appears to target databases and email servers for encryption.

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Apple and Google's contact tracing system won't allow apps built using its API to use location services in smartphones, addressing some concerns privacy experts might have.

Due to the rapidly changing world we need to be focused on tackling the social consequences of the crisis, fight poverty and social exclusion, exploiting in particular the potential of a green economy to promote growth and competitiveness. We are inspired by the OECD work in all these areas, said the Prime Minister of the Slovak Republic to the OECD Council.

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Portugal’s enforcement of its foreign bribery laws has been extremely low. Not a single prosecution has resulted from 15 allegations of Portuguese companies bribing foreign officials in high-risk countries.

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Levels of alcohol consumption in the United States are close to the OECD average and have remained relatively stable in the last 20 years, but with a progressive shift from beer to spirit consumption. In 2011, an average of 8.6 litres of pure alcohol per capita was consumed in the United States, compared with an estimate of 9.5 litres in the OECD.