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Cristiano Ronaldo and Portugal squad give amateur clubs financial boost

Cristiano Ronaldo and his Portugal teammates have donated half of their bonus for qualifying for the Euro 2020 finals to help amateur football in the country that has been hit by the coronavirus shutdown. The Portuguese football federation said on Monday the money would go towards a fund that it hopes will reach 4.7 million euros ($5.1 million) to help amateur clubs survive the crisis.

The federation last week decided to end the already-suspended amateur season with immediate effect, declaring the season null and void without champions, promotion or relegation. No decision has been taken on resuming professional football but the president of the Portuguese league said in late March he was determined the season should be completed.

"It is fundamental that the championships end because it would allow some sort of normality to be restored and we could prepare for next season knowing who has qualified for international competitions, who the champions are and who is relegated," Pedro Proenca said. Portugal shocked host nation France to win Euro 2016 but Ronaldo and his teammates will have to wait another year to defend their title as Euro 2020 has been postponed by 12 months because of the coronavirus pandemic.

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Paul Pogba on critic Graeme Souness: I don't even know him

Manchester United midfielder Paul Pogba is bemused as to why he remains a constant source of criticism despite missing most of the campaign through injury. The 27-year-old has been restricted to just eight appearances this season due to a persistent ankle injury. Former Liverpool captain and manager Graeme Souness has been one of the most outspoken critics of Pogba since he returned to United from Juventus for a then world record £89 million ($112 million) fee in 2016.

However, Pogba claimed he did not even know who Souness was. "I didn't even know who he was, really," Pogba told the official Manchester United podcast. "I heard he was a great player and stuff like that. I know the face but (not) the name. "Like I said I'm not someone that watches a lot of (punditry), I watch a lot of football but I don't stay after the game to listen to what they say about why they did this, or why they did that. I like to focus on football." Souness - who won three European Cups, and five league titles as a player at Liverpool - responded to Pogba on Tuesday morning.

"I'm happy with that. The oldest saying in football comes to mind: 'Put your medals on the table'. I've got a big table," the former Scottish international told Sky Sports. Pogba's return to Old Trafford has failed to match the expectations of his price tag despite winning the Europa League and League Cup in his first season under Jose Mourinho. A bitter fall out with Mourinho followed in the next two seasons before the Portuguese was sacked in December 2018.

And after a brief hot streak when Ole Gunnar Solskjaer took charge, Pogba's time under the Norwegian has been beset by a lack of form and fitness. However, the French World Cup winner still believes the criticism he has received, particularly in his absence this season, is unjustified. "It's good to hear good stuff instead of bad stuff but when you play football, you know yourself. It's what your manager and team-mates want, the rest is just talk," added Pogba.

"I guess they (the critics) miss me, I don't know? I'm not someone that looks always at Sky Sports News. "When you know football, you don't need someone to tell you what's happening. "One day maybe I will meet them and ask them because I really want to know, why?"

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Cristiano Ronaldo visits his first club Nacional

Portuguese football star Cristiano Ronaldo visited his boyhood club Nacional in Madeira recently and shared pictures of the experience on social media. Unlike other parts of the world, Portugal is not in complete lockdown due to the Coronavirus pandemic, so Cristiano, who is currently at home in Madeira anyway, did not breach any regulations for this local trip.

Cristiano played for second-tier side Nacional as a junior (1995-1997) before moving to Sporting Lisbon. In one of the pictures (above) Cristiano, 34, posted to his 213 million Instagram followers, he is seen standing next to a trophy cabinet which includes photographs of himself during his younger days. "It's always good to come back home @CDNacional," he captioned his post. Nacional were quick to reply, saying: "You're always welcome in your home."

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Cristiano Ronaldo not at Lionel Messi's level: David Beckham

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

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


David Beckham

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

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

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

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Leagues can be played behind closed doors: UEFA

UEFA president Aleksander Ceferin said Monday that leagues across Europe were ready to return to action behind closed doors in a bid to limit the damage caused by coronavirus. Football leagues have been suspended since mid-March due to the pandemic which has claimed more than 100,000 lives throughout the continent. But the head of European football believes that playing would be an important step towards a return to normal life and avoid heavy financial losses for leagues.

"I believe there are options that can allow us to restart cup championships and to complete them," Ceferin said in an interview with Italian daily Corriere della Sera. "We may have to resume without spectators, but the most important thing, I think, is playing games. "It is early to say that we cannot complete the season. The impact would be terrible for clubs and leagues. Better to play behind closed doors than not at all. "In such hard times it would bring happiness to people and a certain sense of normality even if the games can only be seen on TV. "All activities are being organised to start again, everyone needs to find their lives. "If safety measures are respected and if the authorities give the green light, the training could resume like the rest. "Further consent will be needed for matches." Ceferin said that if leagues returned "soon enough" then Champions League and Europa League matches could "be played in parallel" with no date limit for the finals.

The Slovenian said he was not in favour of the season going into September and October as it "would have a heavy impact" on the 2020-2021 campaign. "We can finish, but we must respect the decisions taken by authorities," he continued. "The priority is the health of fans, players and coaches." As for countries who have decided not to finish the season, Ceferin said that UEFA "will review the cases". "Such decisions were not made alone," he said. "Football is interconnected, we have seen how important it is for UEFA and leagues to work in good cooperation. The executive committee will review the cases." He added: "Leagues are the revenue base for clubs nationwide. If completed, the financial consequences will be limited. "UEFA, on the other hand, will lose a lot of money for postponing Euro 2020."

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Manchester United may beat Liverpool in signing Jadon Sancho

Former Liverpool mid-fielder Jamie Redknapp fears arch-rivals Manchester United are set to beat his former club for the signing of Borussia Dortmund forward Jadon Sancho. The 20-year-old Englishman is currently one of the most sought-after players in European football and Redknapp believes Sancho will end up in Premier League sooner than later with the Red Devils in pole position to snap the hot shot winger. "I think it is a matter of time with Jadon Sancho coming to the Premier League. We are talking about a genuine superstar. A player that can do incredible things with the ball. Played 70 odd games in the Bundesliga, scored 27 goals from a wide area which is very good," Redknapp told Sky Sports.

"We have missed out on the likes of the Neymars in the Premier League but he can come and really light it up. Personally I would call it. He will be a great signing for whoever he goes to. "I would like to see him at Liverpool, but I think he is going to end up at United though," he added. Since making the move to Bundesliga from Manchester City in 2017, Sancho's rise has been nothing but meteoric. In the last two seasons for Dortmund, Sancho has scored 20 goals and assisted 28 times for the German giants.

Speculations continue to surround Sancho regarding his big move to the Premier League with multiple top teams interested. Dortmund, meanwhile, have made it clear that it will take big bucks to prize Sancho away from the Signal Iduna Park.

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Rio Ferdinand's model wife Kate has her hands full at home during lockdown

Former England footballer Rio Ferdinand's wife Kate has said that while she was initially 'anxious and stressed' with the Coronavirus-caused lockdown, she is now spending most of her time homeschooling her three children Lorenz, 13, Tate, 11, and Tia, nine. Kate, 28, in association with an online education company, has launched a free toolkit of edutainment activities for primary school children to help those homeschooling during the current lockdown.

"At the beginning of lockdown, I felt a bit anxious and stressed. I didn't have any routine but this is something to do every day. You feel like you're in a little community doing it together," Kate, 28, told Britain's MailOnline.

Speaking of the homeschooling experience, Kate said that she and hubby Rio, 41, are trying their best to make things fun: "For the first three weeks of homeschooling, I was overwhelmed. It's quite hard for us having three children and all having sessions at different times. It's about trying to get the balance of making it fun as well as doing school work and trying to manage a good family life."

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COVID-19: Gareth Bale donates Rs 4.6 crore to 'special' Cardiff hospital

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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Peter Crouch now eyes Crufts trophy, an international dog show

Former England footballer Peter Crouch has plans to enter the Crufts, an international dog show held in UK, and walk away with the trophy. Peter and his model wife Abbey Clancy, who have a new Labrador named Sonny, were denied entry this March. And the football star is determined to win the coveted title with his pet dog in 2021.

In the latest episode of That Peter Crouch Podcast, Peter said: "We couldn't get into Crufts last time so we're trying to train this bad boy up."

Meanwhile, Abbey revealed: "He likes getting in the cage with the dog. The dog cage is the biggest one we could get on Amazon. And it does fit Peter and all four children and the dog. He's trying to train him for little biccies. He's a good trainer. He doesn't like to fail at anything. So after the whole Crufts episode, he said, 'I'm gonna train a dog then I'm gonna enter it into Crufts'."

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Cristiano Ronaldo helps firm hit by CR7 underwear sales

Portugal football superstar Cristiano Ronaldo has shown his generous side once again by helping Danish underwear company JBS, who have taken a massive hit on sales due to the Coronavirus pandemic.

According to British tabloid, The Sun, the Juventus player has waived the entire amount he is entitled to from JBS, who manufacture his range of CR7 underpants.

The CR7 range of underwear is one of Cristiano’s most lucrative endorsements and account for 14 per cent of JBS’s total revenue. The company’s CEO Michael Alstrup is most grateful.

“Cristiano’s people have said that because of the Coronavirus this year, there will be no minimum payments at all. And Cristiano has even further helped us not to pay anything until 2021. We are privileged that it was us who started the CR7 brand, and we sit among Cristiano’s closest, just like part of the family,” he said.

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Diego Maradona hails move to suspend relegation in Argentinian football

Football legend Diego Maradona, the manager of struggling Argentinian club Gimnasia y Esgrima La Plata, has praised the decision to suspend relegation from the country's top division until 2022.

The Argentinian Football Association (AFA) confirmed the move on Tuesday as it cancelled the rest of the top flight season amid the ongoing coronavirus pandemic.

The move spares Gimnasia from an almost certain drop to the second division, reports Xinhua news agency.

"It's not the end that we would have wanted, but it's a good decision," the 1986 World Cup winner told Argentinian newspaper Clarin.

"We were convinced that we were going to avoid relegation anyway. But this is reward for a group that has given everything for this club."

Gimnasia needed a strong showing in the Superliga Cup to have any chance or remaining in the top tier under Argentina's complex promotion-relegation system that considers results over a three-year cycle. The Cup competition was aborted last month after just one round.

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Diego Maradona prays for "Hand of God" to heal world from COVID-19 pandemic

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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Perrie Edwards enjoying quality time with footballer beau Alex Oxlade-Chamberlain amid lockdown

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

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

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

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

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

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See Photos: Cristiano Ronaldo goes island hiking with girlfriend Georgina and son

The global lockdown caused due to the COVID-19 pandemic hasn't affected Portuguese football superstar Cristiano Ronaldo's workout regime.

 
 
 
View this post on Instagram

Discovering my island with the best company👨‍👦❤ï¸Â #madeiraisland #staysafe

A post shared by Cristiano Ronaldo (@cristiano) onMay 2, 2020 at 3:55am PDT

Before he returns to Italy next week, the Juventus player took partner Georgina Rodriguez and son Cristiano Jr to the scenic mountain top of the Madeira island for a hike on Saturday. He shared this picture of his son and him, with his 216 million Instagram followers and captioned it: "Discovering my island with the best company #madeiraisland #staysafe."

Meanwhile, Georgina posted this family picture (right) of them visiting the Ponta de Soo Lourenco (it means the Point of Saint Lawrence in Portuguese), the eastern point of the island, and wrote: "Punta de San Lorenzo #family #love."

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Divock Origi: It will be painful if Liverpool don't win EPL title

Liverpool striker Divock Origi said it will be painful if they don't win the Premier League title despite being 25 points ahead at the top when the season was stopped abruptly in the wake of coronavirus pandemic.

The Belgian, however, agreed that safety of players and fans is the most important thing in these unprecedented times and there are things in life which just cannot be controlled.

"It would be painful if we can't get that title now. But there are things in life you cannot control. Safety is the most important thing now," Origi told Het Laatste Nieuws as per Daily Mail.

The Reds were on course for their first-ever Premier League title before the season was stopped on March 13. The last time Liverpool lifted the league trophy was 30 years ago, before the Premier League era.

Jurgen Klopp's troops lead the way with 82 points in 29 games while second-placed Manchester City remain 25 points behind with one game in hand.

Former Liverpool defender Fabio Aurelio had earlier said that the Reds should be declared champions if the current season cannot be finished.

"Even if the title is not officially recognised, everyone knows that the title belongs to Liverpool," the 40-year-old said in an interview to Globo Esporte news portal.

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Cristiano Ronaldo donating money to help Portugal's lower league players

Football superstar Cristiano Ronaldo flew back to Italy on Monday after almost two months in Coronavirus lockdown in his native Madeira, Portugal, but he is continues to help with donations during this COVID-19 pandemic.

Lokomotiv Moscow's Portuguese player Joao Mario has told British tabloid, The Sun that Cristiano is donating money to lower league players in Portugal, who are financially hit due to the pandemic.

"It's a bad situation for everyone but in these kinds of situations, it's worse. They [Portugal's lower league players] really need our help. Cristiano presented us an initiative for us all to help especially those players that are struggling, that do not have professional contracts," said Joao.

Meanwhile, Manchester City star Bernardo Silva said, "Ronaldo suggested that Portugal players should donate 50 per cent of their Euro 2020 qualification bonus towards a players's fund in the Portugal Football Federation."

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England's PFA chief Gordon Taylor wants shorter ties to lighten load

The head of the English Professional Footballers' Association (PFA) has raised the possibility of playing shorter matches to lighten the load on players if the season can restart. English clubs remain committed to completing the campaign despite severe concerns over player welfare. Players could be tested up to three times a week and be forced to stay quarantined in hotels away from their families for a number of weeks to help limit the risk of them becoming infected with coronavirus. With 92 matches in the Premier League season still to be played, players could have little preparatory time to work on their fitness in group training before being rushed back into playing twice a week.

FIFA have proposed increasing the number of substitutes allowed per side from three to five to also lessen the risk of fatigue and injuries for players on their return. "Safety has to be paramount," PFA chief executive Gordon Taylor told the BBC. "We don't know the future. What we do know is what propositions have been put, what ideas have been put, the possibility of having more substitutes, games possibly not being the full 45 minutes each way.

"There's talks of neutral stadiums. There's been lots of things being put forward. "Try and wait and see what the proposals are, and then have the courtesy to let the managers and coaches and players also assimilate all those and come to a considered view." The Premier League's "Project Restart" has been met with some resistance over plans for all remaining games to take place at up to 10 neutral venues.

The remaining matches would need to be played behind closed doors, but there are fears fans could congregate around stadiums. Some top-flight clubs have argued that under those circumstances there should be no relegation as the sporting integrity of the competition is compromised. However, chairman of the English Football League (EFL) Rick Parry said denying promotion to three Championship clubs would end up in legal battles.

"The lawyers are going to get wealthy if that happens," Parry told the Digital, Culture, Media and Sport committee on Tuesday. "There would be a degree of outrage from a number of clubs in our Championship, and it would be a breach of the tripartite agreement. "The safe answer is that it would get very messy. Our expectation is there would be three clubs promoted from the Championship."

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Cristiano Ronaldo's girlfriend Georgina's latest photo sparks pregnancy rumours

Portuguese football superstar Cristiano Ronaldo, 35, could be expecting his fifth child going by an indication from his girlfriend Georgina Rodriguez, 26, via social media.

On Monday, just before leaving for Turin, Italy from Madeira in Portugal where they spent nearly two months, Georgina hinted in a social media post that she was pregnant.

She Instagrammed this blurred picture (above) of herself chewing gum with the words 'baby girl' accompanied by a heart wrapped in a bow emoji.



Cristiano has four children, Cristiano Jr, nine, twins Eva and Mateo, two, born via a surrogate mother and Alana Martina, two, from Georgina. Cristiano and his family arrived in Italy, where he will now self-isolate for two weeks before resuming training with his club, Juventus.

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Manchester City's Bernardo Silva enjoying lockdown with Portuguese model Ines Tomaz

Portuguese footballer Bernardo Silva has reportedly found love during the ongoing Coronavirus-caused lockdown.

The Manchester City star, who split from his French model girlfriend Alicia Verrando two years ago, is said to be in a relationship with Portuguese model Ines Tomaz.

According to a report in the Portuguese media, Bernardo has been in lockdown near Lisbon in Portugal with Ines for over a month, but the couple are not keen to rush into things.

"They've not been together for very long and they want to take things slowly," a source told Portuguese newspaper Correio da Manha.

It is learnt that Bernardo and Ines have been watching Netflix, playing the piano and even learning to cook together. Bernardo revealed last week that he was in quarantine with a group, including Ines, and had even posted a picture of the bunch on social media.

"Hey guys, it's been over a month that we're all locked down in our homes so I have decided to show you a little bit of what our quarantine looks like. This is the group of friends with whom I'm spending my quarantine," he wrote.

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COVID-19: Bundesliga to restart behind closed doors on May 16

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.

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

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This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




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Manchester City's Kyle Walker: I feel harassed after lockdown breach

Manchester City's Kyle Walker says he is being "harassed" after admitting he breached coronavirus lockdown rules to visit his sister and parents. The defender was forced to issue an apology last month after media reports that he had hosted a party at his home. But Walker has hit back at the latest stories, insisting that he is being targeted and that the ongoing controversy is affecting his family's health.

In a statement on his official Twitter feed, Walker wrote: "I have recently gone through one of the toughest periods of my life, which I take full responsibility for. "However, I now feel as though I am being harassed. "This is no longer solely affecting me, but affecting the health of my family and my young children too." Walker admitted contravening coronavirus regulations again by visiting Sheffield to see his sister and his parents -- for which he could be fined and cautioned by police.
"In relation to the events on Wednesday, I travelled to Sheffield to give my sister a birthday card and present, but also to speak to one of the few people I believe I can trust in my life," he said.

"She hugged me to remind me that she cares and that I am loved. What am I meant to do -- push her away? "I then travelled to my parents' house to pick up some home-cooked meals. Again, it's been an extremely tough couple of months for them." He criticised the media for invading the privacy of his family, saying he constantly felt he was being followed.

Aston Villa's Jack Grealish was forced to apologise in March after breaching lockdown rules, while Everton strongly criticised Moises Kean for hosting a party last month.

Walker said the response to his actions had been disproportionate, raising mental health concerns and saying his family had been "torn apart" by the continuing scrutiny.

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

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This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




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Movie Review: Commando 3

Vidyut Jammwal has carved a niche for himself thanks to his death-defying stunts and his films which are mostly of the action genre. He’s popularly known as the ‘Commando’ actor as he been a part of both the COMMANDO films. And now he’s back with COMMANDO 3, which like its predecessor promises lot of action, entertainment and patriotism. So does COMMANDO 3 manage to give the audiences a <em>paisa-vasool</em> time? Or does it fail to impress? Let’s analyse. <img class="aligncenter wp-image-1045975 size-full" title="Movie Review: Commando 3" src="https://www.bollywoodhungama.com/wp-content/uploads/2019/11/Movie-Review-Commando-3.jpg" alt="Movie Review: Commando 3" width="720" height="450" /> COMMANDO 3 is the story of a secret agent in a race against time to save his country. In Mumbai, two young kids – Usman and Omar – are arrested along with their mentor, Subhan after a tip-off. It is revealed that Umar and Omar’s real names were Rakesh and Amit respectively and they converted to Islam after watching provocative propaganda videos of Buraq Ansari (Gulshan Devaiah). Buraq is someone with no record and even his face is covered in his videos. Hence, the Indian intelligence is unaware about his identity and name. Realizing that he’s planning a major terrorist attack in India and that the festival period is coming up, the senior intelligence official Roy (Rajesh Tailang) asks his most trusted and brave officer, Karanveer Singh Dogra (Vidyut Jammwal), to handle the case. Karanveer finds out that the video and currency notes found in the houses of Usman, Omar and Subhan were sourced from London. Roy meanwhile realizes that Subhan talked about 9/11 attack repeatedly and it means that the attack in India will take place on November 9 or 9/11 in other words and incidentally, it’s the day of Diwali. With only 33 days to go for Diwali, Karanveer is urgently sent to London to track down Buraq. He’s helped in this mission by Bhavana Reddy (Adah Sharma) who is now no longer corrupt but still in love with Karanveer. In London, they are provided local help by two British Intelligence agents, Mallika Sood (Angira Dhar) and Armaan Akhtar (Sumeet Thakur). After carefully going through a lot of suspects, the foursome finally manage to find out Buraq’s identity and also that he runs a restaurant. Not just that, they also discover that he is divorced from his wife, Zahira (Feryna Wazheir) and that he loves his son Abeer (Atharva Vishwakarma) immensely. Karanveer hence goes after his son and takes him in his custody, along with Zahira, who is aware of Buraq’s activities and hence agrees to be a witness. Buraq is so enraged by these turn of events that he decides to advance the date of attack to catch the Indians unawares. What happens next forms the rest of the film. Darius Yarmil and Junaid Wasi's story is clichéd and ordinary. But Darius Yarmil and Junaid Wasi's screenplay is where they bring some novelty in terms of character sketch, twists and turns etc. that keeps the interest going. However, it should have been consistently entertaining from start to finish for a better impact. Darius Yarmil and Junaid Wasi's dialogues are poor. A film like this ought to have one-liners that should have ideally packed a punch. Sadly, the dialogues here are strictly okay and even quite poor at places. Aditya Datt's direction is neat and he handles it in such a way that the masses will be able to enjoy and more importantly, comprehend what’s going on. A few of the scenes are deftly handled. The sequence where Karanveer and his colleagues are tracking down Buraq while in a parallel sequence, Buraq is hunting down Karanveer is very nicely done. The romantic track is hardly there and that’s good as no time is wasted with the focus being firmly on the story. On the flipside, the beginning portions are not at all interesting and even in the second half, it takes time for the film to pick up. Many developments are too unconvincing and difficult to digest. Some questions remained unanswered till the very end. No back story of Buraq is given and audiences never come to know how he became such a dreaded terrorist, that too by escaping the radar of the intelligence. It also remained unclear what exactly did Buraq tell in his videos that the youth got brainwashed to the extent that some Hindus turned towards Islam. A few snippets of this is shown but it hardly makes for a convincing watch. <span style="text-decoration: underline;"><strong>Commando 3 | Public Review | Vidyut Jammwal | Adah Sharma | Angira Dhar | First Day First Show</strong></span> <iframe id="jwiframe" class="playerFrame" src="https://www.bollywoodhungama.com/videos/first-day-first-show/commando-3-public-review-vidyut-jammwal-adah-sharma-angira-dhar-first-day-first-show/?jwembed=1" width="800" height="340" frameborder="0" allowfullscreen="allowfullscreen"></iframe> COMMANDO 3 doesn’t start on a great note. The beginning portions seem a bit slow and not that engaging. Vidyut Jammwal’s entry brings the much-needed action in the film. The interrogation scene, though nice, again slows down the film. It’s only when the drama shifts to London that the film gets really interesting. The manner in which Karanveer and his colleagues manage to track down Buraq is interesting. A scene to watch out for is when Buraq is watching Karanveer’s video on a news channel and gets a sudden jolt! The intermission point, though filmy and beaten to death, arrests attention. Post-interval portions are when the film again slides down. The interest level drops and an important sequence is inspired from the classic Hollywood film THE DARK KNIGHT [2008]. Thankfully, the last 30 minutes is quite entertaining and massy. It is also very convenient but the target audience – the single screen viewers – will surely lap it up since the makers give a great message here on Hindu-Muslim unity. COMMANDO 3 belongs to Vidyut Jammwal – no two doubts on that! His acting is nothing great as such but he manages to handle the film on his shoulders. And he does action in adequate doses and that’s what audiences will be expecting the most from him. His act in the finale will be greeted with whistles and claps! Adah Sharma repeats her act from COMMANDO 2 and is quite likeable. Her humour quotient is less this time as compared to the second part but fans of Bhavana Reddy won’t be disappointed. Angira Dhar is great as the no-nonsense cop and underplays her part. Both the heroines get to do their share of action and it looks authentic. Gulshan Devaiah is menacing and scary as the villain. Watch out for how his eyes convey so much! Special mention should also go to his British accent – it’s quite nicely done! Anil George (Momin) is wasted and it’s amusing to see him doing similar roles repeatedly. His character disappears suddenly which is quite weird. Rajesh Tailang is dependable. Sumeet Thakur has a fine screen presence. Feryna Wazheir gets to play a lovely character and does justice. Atharva Vishwakarma makes his presence felt with his expressions and he makes sure he doesn’t go overboard. Virendra Saxena (Subhan’s father) and the actors playing Subhan, Omar/Amit, Usman/Rakesh, Inspector Tambe and Zaytun are fine. Music has no scope. <em>'Tera Baap Aaya'</em> is relegated in the background and works well in the film. <em>'Main Woh Raat Hoon'</em> too plays in the background but doesn’t register. <em>'Akhiyaan Milavanga'</em> and<em> 'Iraade Kar Buland'</em> are missing from the film. Saurabh Bhalerao's background score is racy and exhilarating. Mark Hamilton's cinematography is captivating, especially in the action scenes. Andy Long Stunt Team Ltd, Allan Amin and K Ravi Verma's action is quite hardcore and violent. But the stunts by the actors make for a fine watch. Juhi Talmaki's production design is neat. Sandeep Kurup's editing could have been tighter in some scenes. On the whole, COMMANDO 3 is a decent action entertainer that works because of the action sequences, social message and some paisa-vasool scenes. It arrives sans any competition and hence, has chances to work in the mass centres.




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COVID-19 Related Disruption Causes Franklin Templeton Mutual Fund to Wind-down Six Debt Schemes

Posted by Equitymaster
      

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.

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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:

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
(Source: Franklin Templeton Mutual Fund)

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.




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Will Mutual Fund Houses Act Against Companies Approaching Courts To Prevent Rating Downgrade Amidst COVID-19?

Posted by Equitymaster
      

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:

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.

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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.

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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!

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

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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.




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How Quantum Multi Asset Fund of Funds Protects the Downside Risk

Posted by Equitymaster
      

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

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


Table 1: Wealth erosion across market cap segments
Particulars S&P BSE SENSEX S&P BSE Mid-Cap S&P BSE Small-Cap
All-time high (Dates) 20-Jan-20 9-Jan-18 15-Jan-18
All-time high level (in points) 42,273.87 18,321.37 20,183.45
       
Level as of Jan 1, 2020 (in points) 41,306.02 14,998.63 13,786.69
Level as of May 5, 2020 (in points) 31,453.51 11,391.21 10,649.61
       
YTD Return (%) -23.90% -24.10% -22.80%
Correction since the all-time high (%) -25.60% -37.80% -47.20%
Data as of May 5, 2020
(Source: bseindia.com; PersonalFN Research)

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

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

Table 2: Report card of Balanced Hybrid Funds and Multi-Asset Funds
Scheme Name AuM (Cr) 3 Mths 6 Mths 1-Yr 2-Yr 3-Yr 5-Yr P2P Returns:
Jan 1, 2020 To
April 30, 2020
Balanced Hybrid Funds
SBI Equity Hybrid Fund 26,924.55 -16.80% -13.20% -7.90% -0.50% 4.50%   -12.10%
ICICI Prudential Equity & Debt Fund 16,219.25 -17.20% -17.10% -14.07 -4.40% 0.50% 5.80% -16.10%
HCDF Hybrid Equity Fund - Direct Plan 14,890.78 -15.20% -12.70% -12.20% -5.50% -2.10% 2.70% -15.00%
Aditya Birla Sun Life Equity Hybrid 95   -19.20% -19.00% -17.20% -9.00% -3.10% 3.20% -17.20%
6,914.36
L&T Hybrid Equity Fund 5,405.22 -16.20% -14.90% -11.90% -6.40% -0.90% 4.90% -12.80%
Multi Asset Funds
ICICI Prudential Multi-Asset Fund 9,022.56 -14.50% -14.80% -12.10% -4.10% 1.00% 5.20% -13.90%
UTI Multi Asset Fund 564.1 -11.80% -10.40% -6.80% -3.20% 0.30% 2.90% -7.10%
SBI Multi Asset Allocation Fund 220.63 -3.60% -3.20% -6.20% 4.20% 5.60% 7.60% -1.70%
HDFC Multi-Asset Fund 198.05 -10.30% -6.40% -4.00% -0.60% 2.20% 5.10% -8.60%
Quantum Multi Asset Fund of Funds 16.23 -1.20% -0.90% -4.20% 5.00% 5.90% 7.30% -2.00%
Benchmark: S&P BSE Sensex TRI - -22.00% -21.10% -17.50% -3.50% 3.00% 4.30% 22.90%
Data as of April 30, 2020
Growth Option and Direct Plan considered and the peer list is not exhaustive
(Source: moneycontrol.com; advisorkhoj.com; PersonalFN Research)

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

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

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

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

Table 3: Here's how various asset classes fared per calendar year
Source: Bloomberg; Equity represents Sensex returns, Debt represents 10 year G-sec return, Gold represents domestic Gold spot price returns;
*As on 31st March 2020
Past Performance may or may not be sustained in future

(Source: quantumamc.com)

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

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

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

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

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

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

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

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

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

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

Happy Investing!

Join Now: PersonalFN is now on Telegram. Join FREE Today to get 'Daily Wealth Letter' and Exclusive Updates on Mutual Funds

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.




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Tennis hottie Eugenie Bouchard agrees to go on date with random online fan!

Canadian tennis ace Eugenie Bouchard, 26, has agreed to go on a date with a random online fan for a charitable cause. The fan will pay her an amount which she will donate to feed hospital staff battling the Coronavirus pandemic.

After Genie put out a message on Twitter that she felt like "quarantine would be a lot more fun with a boyfriend," she received many messages from fans.

So, in an Instagram Live chat with sportscaster Allie LaForce, she decided to pick a viewer named Bob, who initially offered to pay GBP 400 (approx Rs 36,000) for the date.

LaForce however, upped the stakes further, demanding GBP 2,410 (approx R2 lakh), the expenditure to feed hospital staff on the tennis player's behalf. Bob agreed and Genie said yes. Interestingly, Genie asked Bob to get some toilet rolls along, to which, Bob agreed but offered an extra GBP 800 (approx Rs 72,000) if she spoke in a British accent.

An embarrassed Genie replied: "Why are you doing this to me, Bob? I'm going to say yes but I have no skill whatsoever in imitating accents."

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Tennis hottie Eugenie Bouchard's random online dates finding it's way to a movie?

Canadian tennis ace Eugenie Bouchard's tendency to pick dates online is set to become the theme of an upcoming Hollywood romantic comedy.

According to report in The Canadian Press, a script based on Eugenie's date with one of her Twitter followers, John Goehrke, who won a bet on the 2017 Super Bowl, is already being worked upon.

The couple continued to meet thereafter for more dates. However, this story has an update with Eugenie, 26, recently deciding to go on another random date with an online fan.

During an Instagram chat last week, Eugenie, agreed to go on a date with a fan named Bob, who donated GBP 3,210 (Rs 2.7 lakh) to help feed hospital staff battling the Coronavirus pandemic.

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COVID-19 lockdown: Tennis babe Ashleigh Barty is happy for family time

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

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

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

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

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Maria Sharapova and boyfriend break lockdown rules to visit friends

Russian tennis ace Maria Sharapova has allegedly flouted the strict Coronavirus-caused lockdown rules in the US, where over 55,000 have died due to the pandemic.

According to British tabloid, The Sun, Maria, 32, recently visited some friends around Los Angeles with boyfriend Alexander Gilkes, 41, whom she has been dating since 2018.

Maria was photographed on Friday, relaxing on a balcony alongside another couple at a Manhattan beach pad.

The quartet were in clear breach of the two-metre social distancing norm that has been laid down by the authorities in LA where there have been 850 COVID-19 deaths
till date.

A few days ago, Maria had announced on Instagram that she was heading to a friend's beach house. "Last night, we took a sunset road trip along PCH, picked up lobster brioche rolls from @broadstreetoysterco drive thru and made our way to a friend's beach house," the 2004 Wimbledon champion wrote.

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Tennis babe Elina Svitolina has this on the top of her list during lockdown

Ukrainian tennis champion Elina Svitolina is keen to try new things during this Coronavirus-caused lockdown and hosting a TV show is on top of her list, according to tennisworldusa.org.

"I recently tried a completely new sphere. I have very long prepared for interviews and understand that it is not an easy job, especially for those people who are not in this area. I really liked it. Maybe in the future I want to do some TV show. It is interesting to me, and I think that now there is time to try something new," said the World No. 5 tennis ace.

Elina, 25, who is currently in lockdown with her Frennis tennis star boyfriend, Gael Monfils, 33, is also completingher online education. "I had to work hard to pull up on my French. I already know some of it, as I had learnt it before but now I'm doing an intensive mode. I am left with two tests: training on nutrition and I also want to take a course in psychology or fitness. This is what I want to do," added the 2018 WTA Finals champion.

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Serena Williams' boss baby Olympia loves meetings during COVID-19 lockdown

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

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

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

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

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

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Leander Paes stresses on learning something new during lockdown

Tennis legend Leander Paes, who made a guest appearance on the Education Webinar for Coaches, jointly organised by the All India Tennis Association (AITA) and the Sports Authority of India (SAI), on Monday said it is key to focus on learning new skills during the lockdown period.

The country has been under lockdown for more than a month now to curb the menace of COVID-19 pandemic.

"It is important to focus on learning new skills during the lockdown", Paes said on how to best utilise this time away from tennis action and keep yourself active and mentally fit, as quoted by AITA's official website.

The 18-time Grand Slam champion also spoke on what keeps him going even at the age of 46. "For me, the relationships that I have had through tennis are the things that I cherish the most. "Those relationships over generations are what's special.

Paes recalled old relationships and had very special words for R.K.Khanna and Anil Khanna. "When I started playing tennis, R.K Khanna was the President of the AITA. I would not be who I am today without Khanna because he actually helped me in the Juniors, as a 14 or 15 year-old.

"He helped me get into the ITF Junior team. At that point, my family could not afford all the international coaching. And then after that Anil Khanna who was the President, took over the mantle of support."

Paes also thanked others including Bishwadeep, AITA CEO for having been there over the last two decades in Davis Cup ties that Paes had played, always being there to give support.

Paes signed off from the Webinar with a message to coaches saying, "Greatest joy you can have is to see your students do well at tennis. Use the sport as a vehicle to make them good human beings."

The Webinar, now in its second week, will have a session of "Coaching Young Children and Young People" by Kawaljeet Singh and Miguel Crespo from the International Tennis Federation will join as the guest speaker.

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Did Novak Djokovic break lockdown rules after playing at a club?

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

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

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

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

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

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Spanish club sorry for letting Novak Djokovic train amid lockdown

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

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

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

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

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

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

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Indonesia eyeing 7 lakh tourists from India in 2018



Indonesia is hoping for an "exponential" increase in tourist inflow from India and has set its visitor arrival target at seven lakh from the country in 2018, a senior official from the island nation has said. The country received 485,314 Indian visitors in 2017, which is nearly a 30 per cent rise from the year before, he noted.

With several low-cost airlines providing affordable deals between India and Indonesia, the island country is hoping to make the most of the opportunity, Pupung Thariq Fadhillah, the deputy director in the Ministry of Tourism, Indonesia, said during his recent visit to the city. "The exotic Bali island remains one of the most-favoured destinations for Indian tourists, over 50 per cent of whom enter the country through Denpasar airport in the island," senior tourism official DAL Janapriati said.

Seeking to offer 'Greater Bali' to the travellers, Fadhillah, who led a delegation from Indonesia to promote the country's tourism sector, said the country would also love to introduce ten more destinations to the Indians in the near future. Lake Toba, Tanjung Kelayang, Tanjung Lesung, Seribu Islands, the Borbodur, Bromo-Tengger-Semeru cluster are among the new hotspots in the Indonesian province, Janapriati said. "If we achieve the target of seven lakh tourist footfall from India, the country will rise to the fifth position in Indonesia's tourist footfall ranking, with Japan now at the top," she added.





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10 multi-purporse travel essentials you cannot do without

Are you planning a long distance travel or a long vacation? Confused what to take and how to pack all your belongings? Worry not, as experts like Shikhee Agrawal, (Head - Training, The Body Shop India) and, Shubhika Jain (Founder of RAS Luxury Oils), have listed 10 must-haves for long distance travel. Also, while travelling long distances, it is best to choose products which are more multi-purpose and carry essentials in travel-size bottles. 

Here are 10 such travel essentials you just cannot do without:

1. Face mask: A face mask is one of those essential and handy things that will make you feel better instantly when you are travelling. If you don't have space in the bag to pack your sleeping creams, a mask will help you wake up with refreshed and moist skin.

2. Face elixir: A face elixir with a blend of beauty oils with rose, sandalwood, frankincense, patchouli, rosehip and vetiver nourishes your skin, ensuring your face always has a gorgeously glowing, satin complexion. After your morning/evening cleansing ritual, take 2-3 drops in the palm of your hand and rub them together to warm before pressing gently onto your face and neck to infuse into the skin. These elixirs can be used as a handy to-go multi-purpose moisturiser when in need of hydration.

3. Cleanser: Don't forget to carry your skincare routine with you especially when it comes to cleanser. They can prevent multiple problems like dust. It will even help you remove make-up and moisturise skin.

4. BB cream: This cream is not just subjected to ultra-fine glow of the face anymore but also contains optimal SPF factor and acts as the skin perfecto and primer. It's best and sensible to avoid multiple products but simply replace it with a good BB cream for the radiance with protection.

5. Eye concentrate or serum: Travelling can make your dark circles appear big due to the long journey and lack of sleep. So an eye concentrate or serum is a must to be included during your daily skincare regime. Eye creams are usually enriched with ingredients which detoxify and reduce puffiness around the tired eyes.

6. Lena perfume bottles: When you need to select a scent for your vanity, pick up one in a travel-sized package. The lean bottles easily slip into your bag and will never spill.

7. SPF enriched lip balm: Lip balm with minimum SPF 15, keeps your pout nourished and soft with moisture boosting lip balm that contains a minimum of SPF 15.

8. Hand and foot cream: A hand and foot cream is a must for keeping every part of your body moisturised, with no rough sides. Travelling while caring for your skin is a must.

9. Lavender and geranium salt polish: For exfoliation, a lavender and geranium salt polish is a good, safe and natural choice. It is a perfect way to get rid of dry, dead skin which may have resulted from a sunburn or just not enough hydration. The salt polish can also be used as bath salts.

10. Use distinct pouches: Keep similar items together and it's best to use distinct pouches for everything and pack them right in the middle of your luggage so as to form a gentle cushion over them and to make sure that they don't get squeezed accidentally.

(Edited by mid-day online desk, with inputs from PTI)

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Dogs understand what we say and how we say it: study

London: Dog owners, take note! Your pet pooch may not only comprehend the words that you speak, but also how you say them, a new study suggests.

Researchers have found that dogs have the ability to distinguish vocabulary words and the intonation of human speech through brain regions similar to those that humans use.


Representational Picture

Attila Andics from Eotvos Lorand University in Hungary said that vocabulary learning "does not appear to be a uniquely human capacity that follows from the emergence of language, but rather a more ancient function that can be exploited to link arbitrary sound sequences to meanings."

Words are the basic building blocks of human languages, but they are hardly ever found in nonhuman vocal communications.

Intonation is another way that information is conveyed through speech, where, for example, praises tend to be conveyed with higher and more varying pitch. Humans understand speech through both vocabulary and intonation.

Andics and colleagues explored whether dogs also depend on both mechanisms.

Dogs were exposed to recordings of their trainers' voices as the trainers spoke to them using multiple combinations of vocabulary and intonation, in both praising and neutral ways.

For example, trainers spoke praise words with a praising intonation, praise words with a neutral intonation, neutral words with a praising intonation, and neutral words with neutral intonation.

Researchers used functional magnetic resonance imaging (fMRI) to analyse the dogs' brain activity as the animals listened to each combination.

The results show that, regardless of intonation, dogs process vocabulary, recognising each word as distinct, and further, that they do so in a way similar to humans, using the left hemisphere of the brain.

Also like humans, the researchers found that dogs process intonation separately from vocabulary, in auditory regions in the right hemisphere of the brain.

Lastly, and also like humans, the team found that the dogs relied on both word meaning and intonation when processing the reward value of utterances.

Thus, dogs seem to understand both human words and intonation. The researchers noted that it is possible that selective forces during domestication could have supported the emergence of the brain structure underlying this capability in dogs, but, such rapid evolution of speech-related hemispheric asymmetries is unlikely.

Humans are only unique in their ability to invent words, they said. The research appears in the journal Science.

Except for the headline, the story has not been edited by mid-day online. This story is taken from a syndicated feed & is published on AS IS basis.

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This Israeli filmmaker is set to document Mumbai's Jewish community


Moshe Holtzberg praying with the Rabbi at Chabad House on Wednesday. Oren Rosenfeld, Israeli documentary maker, who flew with the family to Mumbai from Tel Aviv on Tuesday says the 11-year-old is aware of his past and what it represents. Pic Courtesy/Oren Rosenfeld

It's nearing 4.30 pm, and there's much activity at the Magen David Synagogue in Byculla. Carpets are being laid out and guests who will probably have to wait long are being offered tea and coffee. There's a lawn outside where - with the sun not at its shiniest best thanks to Mumbai's faux winter - a few tables and chairs have been laid out with white satin sheets that the brain registers as celebratory. In the midst of the activity, avoiding the scaffolds that still line the freshly painted blue walls of the 154-year-old synagogue, stands Devina Sankar, a Los Angeles resident who is in Mumbai on a three-week vacation. Looking into a Sony PXW-X70 handycam, she reminisces her school days spent next-door, where as a naughty student she'd often have her ears twisted. It elicits a sound of surprise from the man behind the camera, Oren Rosenfeld. An Israeli filmmaker, in India to document Mumbai's Jewish community, Rosenfeld is collecting several such accounts of the Jewish community's India experience.

In between interviews with his subjects, primarily Eddna Samuel (a Parel resident who Rosenfeld poetically calls the needle through which he will thread the narrative of his feature-length documentary), he points out that the synagogue, which is currently being prepped for the launch of a monthly magazine celebrating India-Israel ties and the Jewish community here titled, Namaste Shalom, is a Baghdadi-Jew synagogue. It's a community that most recall for its best-known Mumbai member, David Sassoon. "What's interesting here is that the Baghdadi Jews and Bene-Israelis [Jewish settlers in India who trace their history to the Lost Tribes] have come together. There are certain prayers in Judaism that cannot be conducted if there are less than 10 men. So, to fulfill that requirement, the Bene-Israelis come over to Baghdadi synagogues to up numbers," he adds.


Rosenfeld meets Baby Moshe's uncle Moshe Holtzberg at the Nariman Point home of common friend Suril Desai, also executive producer of the Mumbai Jews documentary. Moshe Senior, a Rabbi, lives in New York, and has flown in for the three-day visit of the family to Chabad House which he worked to ensure was not shut down. Rosenfeld says that while members of the Chabad House usually don’t mingle with other Jewish communities, the 26/11 attacks changed that in Mumbai, achieving the opposite. Pics/Atul Kamble

The timing of the magazine's launch, admits Rosenfeld, couldn't have been better. While the media seems to have almost given this a miss, just a few kilometres away Prime Ministers Narendra Modi and Benjamin Netanyahu are setting the stage for better economic and strategic ties between the two countries at Colaba's Hotel Taj Mahal Palace. "But, I don't think they planned it that way."

Almost as if answering a question unasked, Rosenfeld, who runs the Jerusalem-based Holy Land Productions and has worked on projects for the BBC and National Geographic, says "I don't need to be there [i.e. Colaba]. I already have great shots from yesterday." What Rosenfeld refers to is the almost exclusive access he enjoyed as a journalist to Baby Moshe, 11, whose parents Rabbi Gavriel Holtzberg and Rivka Holtzberg were killed during the terror attacks at Chabad House on November 26, 2008. Baby Moshe (referred to as such because he shares his first name with his uncle) made his first visit to Mumbai post 26/11 on Tuesday amidst much media frenzy. Rosenfeld was invited by the Holtzberg family (Gavriel and Rivka's parents) to travel with them on the flight from Tel Aviv to Mumbai last week, and later Baby Moshe's first steps into Nariman House after the time his parents were killed along with four others.


Devina Sankar, a Los Angeles resident in Mumbai on a three-week vacation, speaks to Rosenfeld outside the Magen David Synagogue in Byculla where the Namaste Shalom magazine was launched on Thursday. Pic/Sayyed Sameer Abedi

On putting the boy through this, Rosenfeld says, "Baby Moshe always has his four grandparents around him. Plus, there's a psychologist who travels with him. He is showing signs of awareness of his past." Rosenfeld, who has a young son the same age as Moshe, says, "In Judaisim, a boy is said to become an adult at the age of 13, which is when the Bar Mitzvah is held. Moshe is almost that age now."

Initially, shy, Baby Moshe soon became comfortable with Rosenfeld's presence. A photograph the filmmaker picks from his iOS gallery is of the child standing before a luggage conveyor belt at Mumbai T2 alone. "He stepped away from his grandparents and waited at the carousel to pick up his heavy bag," he says, about a symbolic scene.

Chabad House, says the 41-year-old filmmaker, across the world has represented a community that has stood away from local communities. "They are more traditional and have stricter kosher rules." What the Mumbai attacks did, however, was to bring all of the city's Jews together. "On Tuesday, at a local Jewish community event, Moshe's grandparents were invited to speak. This [members of a Chabad House mingling] doesn't happen anywhere. If the idea of the terror attack was to shake the community, it did the opposite. It only made them stronger."

Yet, this might only inform a small part of the documentary. Had it not been for the connection between the communities forged after the attacks, the two would have been separate entities. What he is looking for is a Mumbai Jew's life in the city. "In Israel you have a lot of Jews who have come from different countries. However, the ones from India still share a deep connect with the country. They are in touch with their families and return here for vacations."

The travel back and forth is important. Samuel, when the camera is turned away from her, expresses how a multi-entry visa would help everyone. But that's for the PMs' ears. For Rosenfeld's camera, she talks about the excitement of seeing an article, on her life and her community, appearing in Namaste Shalom. And, when that's done, Rosenfeld disappears into the sidelines and records the rest of the evening. A coffee he was drinking is hastily put to rest on the floor as a BJP dignitary he probably doesn't recognise makes a late entry.

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Do you know these health benefits of bottle gourd or doodhi

Representational picture

A bottle gourd or dudhi as we call it is one of the healthiest vegetables. When it is fresh, the fruit has a light green smooth skin and white flesh. Doodhi is about 92 percent of water and minerals which keeps your body hydrated. The bottle gourd or doodhi has a long list of health benefits. Dr. Manoj Kutteri, Wellness Director at Atmantan Wellness Director lists some of them

  • Cooked bottle gourd aids for better digestion. It is cooling, calming, diuretic and anti-bilious (reduces bile and stops indigestion). The B vitamins assist in increasing the body’s metabolic rate to better digest fats, proteins, sugar and carbohydrate.
  • Like cranberries, bottle gourd supports the kidneys and the urinary system of our body by reducing burning sensation from high acidic urination. It also reduces the chances of urinary infection because it is alkalizing and has a diuretic effect. Consume if you have high creatine and uric acid.
  • A nutritious vegetable for the female reproductive system.
  • It is extremely popular for weight loss especially the bottle gourd juice.
  • Bottle gourd is extremely popular for reducing high blood pressure and bad cholesterol in some people.
  • Bottle gourd is known to combat excessive thirst in diabetic patients.
  • The fiber and the minerals in the bottle gourd support healthy digestion and combats constipation, colic pain and ulcer.
  • Helps to prevent premature greying and improve hair growth.
  • The Vitamin C and Zinc in lauki prevent pre mature aging and wrinkles as well.
  • Bottle gourd is recommended for reducing liver inflammation.
  • Lauki juice taken with ginger or black pepper can help with respiratory health.
  • Bottle gourd is over 90% water therefore it is easy to digest
  • The vitamins, minerals and dietary fibre in lauki keep the body well-nourished and curb unnecessary appetite, especially if you drink its juice in the morning on an empty stomach.
  • It also contains sodium, potassium, essential minerals and trace elements, which regulate blood pressure and prevent the risk of heart ailments.
  • High in sodium and potassium, bottle gourd is also an excellent vegetable for people with hypertension.
  • Mixing the juice with sesame oil provides an effective medicine for insomnia. Massage the scalp with this preparation every night.

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This is what daily egg consumption can do

Representational picture

Washington D.C.: When eating an apple can save you from a doctor then consuming an egg will significantly reduce the risk of cardiovascular diseases. Cardiovascular disease (CVD) is the leading cause of death and disability worldwide, including China, mostly due to ischaemic heart disease and stroke (including both haemorrhagic and ischaemic stroke).

Unlike ischaemic heart disease, which is the leading cause of premature death in most Western countries, stroke is the most responsible cause in China, followed by heart disease.

Eggs are a prominent source of dietary cholesterol, but they also contain high-quality protein, many vitamins and bioactive components such as phospholipids and carotenoids.

Previous studies looking at associations between eating eggs and impact on health have been inconsistent, and most of them found insignificant associations between egg consumption and coronary heart disease or stroke.

Therefore, a team of researchers from China and the UK led by Professor Liming Li and Dr Canqing Yu from the School of Public Health, Peking University Health Science Center, set out to examine the associations between egg consumption and cardiovascular disease, ischaemic heart disease, major coronary events, haemorrhagic stroke and ischaemic stroke.

They used data from the China Kadoorie Biobank (CKB) study, an ongoing prospective study of around half a million (512,891) adults aged 30 to 79 from 10 different geographical areas in China.

The participants were recruited between 2004-2008 and were asked about the frequency of their egg consumption. They were followed up to determine their morbidity and mortality.

For the new study, the researchers focused on 416,213 participants who were free of prior cancer, cardiovascular disease (CVD) and diabetes.

From that group at a median follow-up of 8.9 years, a total of 83,977 cases of CVD and 9,985 CVD deaths were documented, as well as 5,103 major coronary events.

At the start of the study period, 13.1 percent of participants reported daily consumption (usual amount 0.76 egg/day) and 9.1 percent reported never or very rare consumption (usual amount 0.29 egg/day) of eggs.

Analysis of the results showed that compared with people not consuming eggs, daily egg consumption was associated with a lower risk of CVD overall.

In particular, daily egg consumers (up to one egg/day) had a 26 percent lower risk of haemorrhagic stroke - the type of stroke with a higher prevalence rate in China than in high-income countries - a 28 percent lower risk of haemorrhagic stroke death and an 18 percent lower risk of CVD death.

In addition, there was a 12 percent reduction in risk of ischaemic heart disease observed for people consuming eggs daily (estimated amount 5.32 eggs/week), when compared with the 'never/rarely' consumption category (2.03 eggs/week).

This was an observational study, so no firm conclusions can be drawn about cause and effect, but the authors said their study had a large sample size and took into account established and potential risk factors for CVD.

This study was published in the journal Heart.

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Does eating fish during pregnancy increase autism risk?

Turns out, autism is not linked to consuming fish in pregnancy.

Scientists at the University of Bristol looked at the assumption that mercury exposure during pregnancy is a major cause of autism using evidence from nearly 4500 women who took part in the Children of the 90s study.

Using analysis of blood samples, reported fish consumption and information on autism and autistic traits from one of the largest longitudinal studies to date, researchers found no links between levels of mercury in the mothers and autism or autistic traits in their children. The only adverse effect of mercury found was poor social cognition if mothers ate no fish at all, especially for girls.

Lead author Jean Golding commented, "Our findings further endorse the safety of eating fish during pregnancy. Importantly we've found no evidence at all to support claims that mercury is involved in the development of autism or autistic traits.

"This adds to a body of work that endorses the eating of fish during pregnancy for a good nutritional start to life with at least two fish meals a week."

Dr Caroline Taylor said, "All species of fish contain traces of mercury, which can harm brain development, but we've found that the health benefits of fish, probably from nutrients such as vitamin D, omega-3 fatty acids, selenium and iodine, outweigh the risks from mercury.¿

"The advice on eating fish when pregnant is complicated and overwhelming. There is now a body of evidence to support a simpler and clearer approach that maximises the health benefits of fish.¿

The study appears in the journal Molecular Autism.

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Twitter shutting down most of its TV apps: Report

After killing off apps used by a minority of its userbase including the "Twitter for Mac", the micro-blogging site is shutting down its TV apps on Roku, Android TV and Xbox from May 24.

"On Thursday, May 24, Twitter for Roku, Twitter for Android TV and Twitter for Xbox will no longer be available. To get the full Twitter experience, visit https://twitter.com on your device or desktop," the microblogging website tweeted.

This is due to the dismal feedback that users gave because these Twitter apps did not allow them to tweet from their account or fully interact with the Twittersphere in general, The Verge reported.

A report in Tech Crunch, however, said that Twitter has made the decision to kill off these apps as the micro-blogging platform works towards GDPR compliance.

"In addition, neither Xbox or Roku support a standard regularly supported video player, which made them more difficult to maintain. That also came into play with this decision," the report said.

As compared to other TV apps like Netflix, Twitter lacked on the "exclusive video content" front as well.

Twitter for tvOS (Apple TV) and Twitter for Amazon Fire TV will continue to be available.

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This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.




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How do I tell my girlfriend to wear better perfume?

I want to find a way of telling my girlfriend to wear better perfume without hurting her feelings. She smells like a florist's shop, which is irritating and hard to ignore. How do I do it in a subtle manner?
If you believe her perfume doesn't suit her, you should talk about it while giving her the prerogative of continuing to wear it if she likes it. Being honest is an important part of building trust, and she should trust you enough to know that you mean well. Also get another person's opinion though. You may be the only one who thinks it excessive. Maybe you have an over-sensitive nose and everyone else thinks she smells great.

My boyfriend refuses to take anything I say seriously. He loves me a lot, but anything I say is treated with amusement, whether it is my opinion about a restaurant or anything to do with his career. He assumes only the things he and his friends say matter. I don't know if he believes I am genuinely incapable of thinking, because I sometimes feel like a child when I am around him and his friends. This affects me to such an extent that I now simply clam up when I am out with them and speak only when I am spoken to. I don't even bother contributing to any discussion or argument because they don't acknowledge my perspective. How do I get him to take me seriously?
This isn't about him taking you seriously; it's about respect. If he thinks you are incapable of thinking, or that your opinion is of no importance to him in any way, why is he with you? If he doesn't respect your perspective, why does he want a relationship with you? If this is a one-sided affair with no exchange of opinions, thoughts, likes and dislikes, what makes you think this is a substantial relationship worth wasting time on? I suggest you ask yourself, and him, these questions first.

The inbox is now open to take your most carnal and amorous queries. Send your questions on email to lovedoc@mid-day.com

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Three things to do in Mumbai on May 27

Andheri West
Roses in oil
Oil Painting is considered the master medium for painting for centuries and was the medium of choice for masters such as Leonardo Da Vinci. Today, you will learn the techniques of getting that rose just right.

When: 11 AM
Where: Doolally Taproom, Near Fun Republic Mall, Andheri West
Entry: Rs 2,150
Call: 7400171674

Beach Candy
Van Gogh's Starry Night
Mesmerised by this 1889 classic? Artist Snehal Patil will help you make your own version that you can proudly hang up in your own room.

When: 4 PM
Where: The Bombay Bronx,
Cumballa Hill
Entry: Rs 1850

Powai
An autumn morning
Wonder what that is considering Mumbai's heat? Artist Chrisann Rodr-igues will help you imagine it on canvas.

When: 3 PM
Where: Neel Indian Kitchen and Bar, Powai
Entry: Rs 1750
Call: 49455555

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Weekly Planner: 20 Things to do around Mumbai from May 28 to 2 June

Enjoy a traditional roast lunch

12 PM - 4 PM: Spend your Sunday enjoying a traditional English roast lunch at British Brewing Company. The Sunday roast is a tradition in the UK where families sit down to enjoy roast beef accompanied by Yorkshire puddings, roast potatoes and baked vegetables. In the absence of the B-word, you can treat yourself to grilled lamb chop in cranberry demiglaze sauce, chermoula fish steak, wasabi chicken wings and eggplant parmigiana accompanied by offers
on beer.
Where: British Brewing Company, Times Square building, Andheri East
Call: 39698190

Head to a film fest
9.30 AM - 10 PM: It's the last day of Kashish, South Asia's biggest LGBTQ film festival, now in its ninth edition with a strong jury selection of films. Held at an iconic theatre in South Mumbai, the festival's line-up today includes short films, feature films (Evening Shadows and Fathers), and also a panel discussion with filmmakers. Refer to the website for the full schedule.
Where: Liberty Carnival Cinema, Marine Lines
Free
Visit: www.mumbaiqueerfest.com/kashish-2018-film-schedule/

Rock to Parvaaz
9.30 PM: Parvaaz is a Bengaluru-based rock group who sing mostly in Kashmiri and Urdu. If this rocks your boat, attend their gig this evening. Featuring, Khalid Ahamed (vocals), Mir Kashif Iqbal (guitars), Sachin Banandur (drums) and Fidel D'Souza (bass), the members have assimilated several psychedelic rock influences while keeping their roots intact.
Where: Todi Mill Social, Lower Parel
Entry: Rs 400
Call: 7506394240

Laugh out in Gujarati
7.30 PM: So laughter may not have a language, but jokes certainly do. Attend, Hass Ne Baka, a one-of-its-kind Gujarati stand-up comedy event. If you have been in Mumbai for a few years at least, you probably would have picked some words from the language. If not, this is a good chance to learn.
Where: The Cuckoo Club, Bandra West
Entry: Rs 250
Call: 9619962969

Savour the T20 finale
7 PM: The T20 draws to a close today with the big final match this evening. Nurse your cricket fever with unlimited beer, meant to keep you company till the last over. So, whether you are supporting Chennai or Hyderabad, round up your friends for an evening of fun.
Where: Drinkery 51, opposite Trident Hotel, BKC
Price: Rs 999 per head
Call: 40141100

Recall funny instances
8 PM: Embarrassing instances make for good stories in subsequent years. Attend an event where comedian Sumit Anand and his like-minded friends will regale you with hilarious stories from their personal lives. The edition will feature Vaibhav Sethia and Deep Chhabria, among others.
Where: The Square, Powai
Price: Rs 250
Log on to: insider.in

Shop organic from a farmer's market
8 AM – 1 PM: How about making it a 'fruitful' morning in South Mumbai? Head to an organic market organised by Better Foods and Harshita Narwekar, trustee of My Dream Colaba, for a chance to pick from stalls offering chemical-free produce to lead a healthier life. Think you can't make it this Sunday? The market will pop up again every Sunday until July 1, so mark your calendars.
Where: Lane behind Taj President, next to Mehr Naz, Cuffe Parade
Free
Call: 9010143322

Enjoy a evening of ghazals
7 PM: Don't relegate ghazals to the past. The night for the genre is still young. This evening head to Sun Beach Resort, to get mesmerised in this form of poetry that originated in 7th century Arabia. Your singer tonight is Ranjan Debnath. There's a special kids' zone too.
Where: Sun Beach Resort, Manori
Entry: Rs 1,000-Rs 1,500
Call: 8108750767

Relish a picnic platter
Gateway Taproom has curated an indoor experience to recreate the feel of a picnic. Three special craft beers will be on offer along with freshly baked flatbreads with a variety of toppings. The Valencia Orange Wheat comes with citrusy notes while the 'Mangonificent Flatbread' is made of mango, arugula pesto and feta, while the 'Appley Ever After' is a sum of apple, goat cheese, jaggery and walnut candy. Try pepper pig, a topping which is a mix of chorizo, mozzarella and red bell peppers. There's also a blend of grilled eggplant, pomegranate, feta and pine nuts.
When: 12 pm to 1.30 am, till May 30
Where: Gateway Taproom, Godrej BKC Building, Bandra East
Call: 26534748

Watch Farhan rock the stage
Farhan Akhtar, who has time again made himself heard on various social causes, has joined hands with the Cancer Patients Aid Association (CPAA), for a special concert. The aim of the concert is to raise awareness about the ill-effects of tobacco, to mark the occasion of World No-Tobacco Day. The show is titled Love for Life Begins with Music. CPAA is a registered charitable organisation working towards the cause of cancer patients for 49 years.
When: 7 pm, May 31
Where: Rangsharda Auditorium, Bandra Reclamation, Bandra West
Free
Call: 9821078882

Join a jashn
Go for a panel discussion on Urdu culture and how the Internet is helping the revival of the language. Urdu Culture Now, an initiative by Godrej Culture Labs, seeks to explore the state of Urdu culture in Mumbai. There will be art exhibits by Zeenat Kulavoor and Nasheet Shadani and a Soundzone with a specially curated playlist. Actor and storyteller Danish Husain will take centrestage with a Quissebaazi performance and Winit Tikoo will be performing a set of Urdu tunes. There will also be a pop-up bookstore and some authentic Lucknowi and Hyderabadi cuisine.
When: 5.30 pm, June 8
Where: Auditorium, 1st floor, Godrej One, Vikhroli East
Free
Call: 9167077830

Experience Indo-Greek art
Rekha Rana's exhibition Indus Streams and Delphi Hills has been in the making for nearly four years. The works give viewers a glimpse into the Indo-Greek era, drawing parallels between European and Indian art. The technique she has used for this show is mixed media on canvas. She has re-imagined Greek goddess Athena, wearing the headgear of Hippolyta, the queen of the tribe of the Amazons in Greek mythology. Rana has studied closely the influence of Western art on India and selected certain elements in her works.
When: 11 am to 7 pm, May 29 to June 4
Where: Jehangir Art Gallery, MG Road, Kala Ghoda
Call: 9930300064

A love story, or a game of manipulation?
Vrushali Telang's new fiction, Prime Time Crime (Vishwakarma Publications), has all the makings of a fast-paced, sensational thriller. Set against the backdrop of the Mumbai Underworld in 1999, Prime Time Crime tells the story of a young intern reporter, Ritika Khanolker and a gritty gangster, AT Pradhan. It all begins when Ritika wins his unwavering attention at the sessions courts after she asks him a strange question. Soon enough, she lands an exclusive TV interview with him. What follows is a torrid chemistry with both finding it difficult to stay away from each other. But, is the gangster manipulating circumstances and using her as a pawn, or is Ritika playing along so that she can catapult her career and become a star reporter. This love story gets only murkier, as you turn the pages of Telang's book. Telang's well etched out characters, racy plot and lucid writing, makes this one a brilliant page turner.

Pedal into the week
10.30 pm onwards: Want to cycle but the Mumbai summers won't let you? Try cruising on the roads on a midnight
electric cycle ride. Also, if you have been contemplating buying an electric cycle, this ride can serve as a trial. The trail covers 35 kilometres starting at Shivaji Park, on to Worli Seaface, Peddar Road, Girgaon Chowpatty, Nariman Point, before ending at Gateway of India, with a bite at Bade Miya.
28 Monday
Where: Meet at Shivaji Park Gymkhana, Dadar West
Entry: Rs 750
Log on to: instamojo.com

Learn some magic
1 pm onwards: You may have watched enough Penn and Teller and now you want to try and master a few tricks of your own. This session should get you started. Magic is not just about sleight of hand, there's also the fine art of performance that goes along with it. This workshop will teach you a few magic tricks, and along with it, the art of theatre that will add the final flourish.
29 Tuesday
Where: Quistic Learning Centre, opposite Oshiwara Police Station, Andheri West
Entry: Rs 5,000
Log on to: eventshigh.com

Watch Indian Ocean live
9 pm onwards: Formed in the early 90s, the Indian Ocean is one rock band that has managed to stand the test of time. Not only have they spearheaded rock music in the country, they have also held their own in an industry rife with remixes and fusion. Their sound has stayed consistently inimitable despite shuffles in the band lineup. From Sufism, politics, philosophy to religion, the words are as deep as their tune haunting.
30 Wednesday
Where: Flyp at MTV, Kamala Mills, Lower Parel
Entry: Rs 499
Log on to: insider.in

Meet a French Cinderella
6 pm onwards: Massenet's enchanting opera Cendrillon, based on the Cinderella story, had premiered at the MET. It features Joyce DiDonato as Cinderella, Kathleen Kim as the fairy godmother, Alice Coote as Prince Charming, Stephanie Blythe as evil stepmother Madame de la Haltiere, and Laurent Naouri as Pandolfe. This production was first performed at Santa Fe in 2006. The screening will provide English subtitles.
31 Thursday
Where: Dance Theatre Godrej, NCPA, Nariman Point
Entry: Rs 768
Log on to: bookmyshow.com

See a rare kind of jewellery
6 pm to 9 pm: Patola jewellery designed under the guidance of art revivalist Bela Shanghvi is a step towards bringing alive, the lost forms of Indian art. Her Nana Chowk store has been devoted towards preserving the craft heritage across 28 states and villages. While Patola saris are well known, this time one will get to see some rare jewellery from the region that would strike a perfect match with the elegant weaves.
1 Friday
Where: True Tramm Trunk, VL Mehta Road, JVPD Scheme, Juhu
Call: 7738993360

Learn to style your food
3 pm: Step into the world of food photography and food styling in an interactive workshop with the renowned food photographer Assad Daddan and food stylist Amrita Kaur. The hands-on session will include training on lighting, composition, exposure triangle, food styling and post processing. The styling session will involve learning finer nuances of food styling.
2 Saturday
Where: Palate Culinary Academy, Saffron Building, Linking Road,
Khar West
Entry: Rs 5,000-Rs 10,000
Log on to: insider.in

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Twitter was down for a while on Saturday

Twitter became unavailable for many users after the site stopped working at about 3.20 p.m. EST on Saturday, media reported. According to Down Detector, the outages were mostly reported along the East Coast of the US and in western Europe. The Twitter outage map showed very little outages on the West Coast of the US, Newsweek reported on Saturday.

When users visited Twitter on Saturday, they were greeted with an error message -- "something is technically wrong. Thanks for noticing-we're going to fix it up and have things back to normal soon", the report said.

"Twitter doesn't work on the tablet either have to do this from my phone. Won't load my tweets but is logged into my account," one Down Detector user wrote.

"Omg why are my twitter notifications not working," another said.

Twitter appeared to be down across platforms; both for iOS and android as well as desktop and third-party sites like Tweetdeck.

Around 3.40 p.m., many users reported that Twitter started working again, the report said.

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This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.




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Tax-News.com: Russia, Japan To Sign New Double Tax Agreement

The governments of Japan and Russia on April 28 announced they have agreed the text of a new double tax agreement that would replace the 1986 pact between Japan and the former USSR.




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Tax-News.com: Japan, Russia Agree New Double Tax Pact

The governments of Japan and Russia signed a new convention on the elimination of double taxation on September 7.




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Tax-News.com: EU Introduces New Anti-Dumping Methodology

New EU trade defence legislation entered into force on December 20, changing the way the EU deals with dumped and subsidized imports.




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Tax-News.com: Fraud At Record Levels, New BDO Report Says

BDO, the accountancy and business advisory firm, has released a report into the rapidly growing issue businesses and governments face with fraud, including tax fraud.