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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Former footballer Xavi Hernandez, hoping that Paris Saint-Germain star Neymar will return to Barcelona, said that the latter is among the 'top three or five players in the world'.

"Footballing wise, he's in the top three or five players in the world, no doubt," Goal.com quoted Xavi as saying during an Instagram chat with ex-Barca forward, Samuel Eto'o.

 

 

 

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Avui em connectaré a @roadto2022es per fer una sessió de preguntes i respostes en viu amb @setoo9. Si tens qualsevol pregunta per nosaltres, escriu-la a sota en els comentaris. Les preguntes i respostes es realitzaran a Instagram Live a les 18h horari de Doha, dilluns 4 de maig. ___ Hoy me conectaré a @roadto2022es para celebrar una sesión de preguntas y respuestas en vivo con @setoo9. Si tienes una pregunta para cualquiera de nosotros, escríbela en los comentarios a continuación. Las preguntas y respuestas se realizarán en Instagram Live a las 18:00 hora de Doha, el lunes 4 de mayo. ____ Today, I’ll be in @roadto2022es to participate in a Q&A live session with @setoo9. Send us your questions in comments below, and we’ll answer them on Instagram Live today, Monday 4th, at 18:00h (Doha time)

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"He can make the difference. Let's hope he returns to Barcelona. I'm a Barcelona fan and I want the best players there," he added.

After a four-year stay in the club, the former Barcelona player, Neymar, left in 2017 to join Paris Saint-Germain.

During the interaction, Xavi also expressed a desire to manage Barcelona saying that it is his dream to coach the club.

"In January, it wasn't the right moment. I had conversations with Eric Abidal [Barcelona's sporting director] and Oscar Grau [Barcelona chief executive] and a big offer, but it wasn't the right moment. I need a bit more experience. Coaching Barcelona is my dream. I'd like to do it one day. I've said that many times," he said.

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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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Former Manchester United defender Patrice Evra has said he received death threats following a racism row involving then-Liverpool forward Luis Suarez in 2011. Uruguay striker Suarez was banned for eight matches by the English Football Association after being found guilty of misconduct for insulting comments to Evra, which included a reference to the left-back's skin colour, at Anfield in October that year. Liverpool, however, mounted a prolonged and public defence of Suarez's conduct as the row between the rival clubs escalated.

Evra said one consequence of the backlash included letters threatening the Frenchman and his family. "Manchester United received so many threatening letters about me," Evra told the club's UTD podcast. "People said: 'We're in jail, we're Liverpool fans. When we get out, we're going to kill you and your family'." Evra said the nature of the threats meant he had to be protected by bodyguards.

"For two months, I had security everywhere I went. They were sleeping in front of my house. Everywhere I went, the security followed me. "It was a tough time, but I wasn't scared. My family were scared: my wife and brother, but I wasn't. "I couldn't understand why people hated me so much. They didn't know the truth." Evra, who saw his attempt to shake hands with Suarez before a match the following February rebuffed by the striker, said he had forgiven his old antagonist and even spoke to the now Barcelona star before the 2015 Champions League final when playing for Juventus.

But it was a very different story at the time , which saw Evra forcing himself to control his emotions after reporting the incident to match referee Andre Marriner, who said it would be dealt with after the game and that both players should continue.

"I remember, during that game, I was talking to myself saying: 'If you punch him now, people will see you as the bad one, people will forget about what he said'," recalled Evra. "I was talking to myself: 'Don't do... do it...' I wasn't focused for the game."

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

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

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

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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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The virtual war between WAGs Rebekah Vardy, 38, and Coleen Rooney, 34, is far from over. It is learnt that Rebekah, wife of Leicester City footballer Jamie Vardy, wants a public apology from Coleen, the wife of former England captain Wayne Rooney, for accusing her in October of leaking fake stories to the press via social media.

While both ladies are currently locked in a legal battle, it is learnt that they will have an arbitration meeting on Zoom this week in a bid to avoid a costly court case, reported British tabloid, The Sun.

"Becky [Rebekah] is adamant she's done nothing wrong and has told her team she wants a public apology," an insider told the newspaper. "She was hurt that Coleen went straight on social media to lay the blame at her door, rather than speaking to her privately. She has maintained her innocence throughout and doesn't want this to be brushed under the carpet without Coleen publicly apologising," added the source.

The two used to be good friends before Coleen claimed in October that Rebekah's Instagram account had been leaking false stories to the press. Subsequently, Rebekah endured a lot of abuse on social media.

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There’s many former LaLiga stars currently using the experience and skills picked during their time in Spanish football in managerial and coaching careers all around the world. The list is almost unrivalled: Pep Guardiola (Manchester City), Zinedine Zidane (Real Madrid), Diego Simeone (Atletico de Madrid), Mikel Arteta (Arsenal), Rafa Benítez (Dalian Pro), Xavi Hernández (Al Sadd), Míchel (Pumas UNAM), ‘Guti’ (UD Almeria), Raúl González (Real Madrid Castilla), Van Nistelrooy (PSV U19), Unai Emery, Mauricio Pochettino, Quique Sánchez Flores, Laurent Blanc, Ernesto Valverde, Mark van Bommel, Aitor Karanka, Clarence Seedorf… but here are five more with very special stories.

1. Giovanni Van Bronckhorst – FC Barcelona to Feyenoord

All the lessons learned winning two LaLiga titles with FC Barcelona in the early 2000s as an attack-minded left back have definitely proved useful for Giovanni Van Bronckhorst’s coaching career. The former Netherlands international became first team coach in summer 2015 at Feyenoord, the Rotterdam club where he started and finished his playing career. His first season brought the KNVB Cup trophy, while the following year he led the club to its first Eredivisie title in 18 years, a historic achievement. Last January he was announced as manager of Chinese club Guangzhou R&F.

2. Jonathan Woodgate - Real Madrid to Middlesbrough

Jonathan Woodgate’s spell at Real Madrid famously did not get off to a great start, with an own goal and red card on his LaLiga debut. However, when fit and available the classy defender made a valuable contribution to Los Blancos 2005/06 campaign, with the team keeping seven clean sheets in his eight other games. The following summer he joined hometown club Middlesbrough, where he also returned after hanging up his boots to begin his coaching career in 2017. Last summer, Woodgate was named first team manager at Boro, and he took December’s Championship Manager of the Month award.

3. Jordi Cruyff - Camp Nou to Ecuador

Son of Barcelona legend Johan Cruyff, Jordi made his LaLiga debut in September 1994 against R. Sporting. The winger or attacking midfielder scored 22 LaLiga goals across spells at FC Barcelona, RC Celta, RCD Espanyol and most successfully D. Alaves, where he helped the Basque club reach the 2001 UEFA Cup final only to lose 5-4 in agonizing fashion to Liverpool. Cruyff also represented Manchester United, Metallurg Donetsk and the Netherlands national team [nine senior caps] during his playing career. He has since worked in Malta, Cyprus, China and Israel, where he oversaw three consecutive league titles as sporting director at Maccabi Tel Aviv. In January 2020 he was appointed Ecuador senior international manager.

4. Diego Forlan - Pichichi to Peñarol
One of the very few players in history to have won LaLiga’s Pichichi top scorer prize with two different clubs, Diego Forlan clinched it at Villarreal CF in 2004/05 and Atletico de Madrid in 2008/09. A strike rate of 128 goals in 240 LaLiga games counts among the very best. A long playing career also brought goals scored in England, Italy, Brazil, Japan and Hong Kong, and appearing at three World Cups and a 2011 Copa America triumph during 112 caps for Uruguay’s senior team. In December 2019, Forlan returned to his former Uruguayan club Peñarol to start his managerial career.

5. Fabio Cannavaro – Santiago Bernabeu to China

2006 was quite a year for Italian defender Fabio Cannavaro, who won the World Cup in Germany, signed for Real Madrid and was then awarded the Ballon D’Or. Cannavaro won two LaLiga titles during his three years in the Spanish capital, where he continued a strong relationship with mentor Fabio Capello. His first managerial job was at Dubai club Al-Ahli, where he won UAE Pro League and UAE League Cup titles. He also won the China League One title with Tianjin Quanjian, guided Guangzhou Evergrande to the Chinese Superleague title last year, and even took charge of the China national team for a time in 2019.

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

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

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

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

Jose Antonio Cachaza

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

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

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German footballer Manuel Neuer, 34, who split from his wife Nina only four months ago, is said to be dating a teenage student in Munich.

Bayern Munich's star goalkeeper is reportedly in a relationship with Anika Bissel, 19, a fashion management student, who also plays for a local handball club team named Kuties. Interestingly, Anika bears a striking resemblance to Nina.

Manuel Neuer's ex-wife Nina

According to leading German magazine Bunte, Anika owns a flat in Munich but is seen spending most of her time at the footballer's luxurious home.

It is learnt that 2014 FIFA World Cup winner Manuel is very serious about his relationship and has even introduced Anika to his mother, Marita.

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From a childhood nickname to his world champion horse, these are some of the lesser-known facts about the Real Madrid captain and legend

1. His nickname as a child was Schuster
As a child, Sergio played up front and was nicknamed ‘Bernd Schuster’ after the great German goalscorer by the friends he played with on the grass outside his apartment block. He’d go on to play in defence throughout his career, at right-back and centre-back, but has maintained his brilliant goalscoring ability. Coincidentally, he was even coached by Schuster at Real Madrid between 2007 and 2008.

2. He’s only ever worn the number 4 shirt at Real Madrid, but never for Spain…
When Ramos arrived at Real Madrid, he was touted to fill the void left by the departing legend Fernando Hierro. Ramos wasn’t shy about taking on the challenge and adopted Hierro’s famous No.4 jersey from day one. That has been the number on his back during his entire decade-and-a-half career at the Santiago Bernabéu. Funnily enough though, Ramos picked a different number for when he plays with the Spanish national team: 15.

3. He has never scored for Spain at a major tournament
Sergio is Spain’s all-time record appearance holder (170) and has scored 21 goals for his country, a mightily impressive tally for a defender. Bizarrely enough, though, he’s never scored for Spain at a major tournament. Each of his 21 strikes has come in qualification rounds, in friendlies, or in the UEFA Nations League. Beyond penalty shootouts, he’s never scored at a World Cup, European Championship or even the Confederations Cup.

4. He didn’t win a Champions League knockout tie until the age of 25
Ramos has four Champions League titles to his name, winning the tournament in 2014, 2016, 2017 and 2018. He may undoubtedly be one of the all-time greats of the competition, but it’s easy to forget that he didn’t reach the competition’s quarter-final until the age of 25. He never played in the Champions League with Sevilla, then his first few years at Real Madrid coincided with a barren spell for the capital city club in which they were consistently knocked out in the first knock-out phase. Finally, in 2010/11 after the arrival of Jose Mourinho, Ramos made it to his first quarter-final, against Tottenham Hotspur. He’s certainly overcome that initial disappointment as the years have gone on.

5. His horse Yucatán de Ramos is a world champion
Like any true Andalusian, Sergio loves horses and has done since childhood. He owns stables near his hometown of Seville, and Yucatan de Ramos, his star horse, won a world championship at the 2018 Interntional PRE Horse Fair recognising it as the finest pure-bred Spanish horse in the world.

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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.

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The Fast And Furious franchise started way back in 2001. Since then we have seen the franchise evolve from racing to something that includes, heists, spying and of course fast cars. Now two years after the last release in the series THE FATE OF THE FURIOUS hit screens in 2017, we see a spin off feature film in the form of FAST &amp; FURIOUS PRESENTS: HOBBS &amp; SHAW. But will this new action flick woo the Fast and Furious audience or will it like so many other actioners be all glitz and no content is what we analyse. <img class="aligncenter wp-image-1004788 size-full" title="Movie Review Fast &amp; Furious Presents Hobbs &amp; Shaw" src="https://www.bollywoodhungama.com/wp-content/uploads/2019/08/Movie-Review-Fast-Furious-Presents-Hobbs-Shaw.jpg" alt="Movie Review Fast &amp; Furious Presents Hobbs &amp; Shaw" width="720" height="450" /> Starting off, FAST &amp; FURIOUS PRESENTS: HOBBS &amp; SHAW is centred around the titular Luke Hobbs (Dwayne Johnson) and Deckard Shaw (Jason Statham), characters introduced in the main series. The film begins with a crew of MI6 agents attempting to retrieve a virus, Snowflake, which can be programmed to decimate millions of people, from terrorist organization Eteon. Brixton Lore (Idris Elba), an Eteon operative with advanced cybernetic implants, arrives and kills all agents except for their leader, Hattie Shaw (Vanessa Kirby), who injects Snowflake into herself as a dormant carrier and escapes. Brixton frames Hattie as a traitor who killed her team and stole Snowflake, forcing her to go on the run. Luke Hobbs and Deckard Shaw are both informed of the missing virus and are assigned to work together reluctantly to track it down. From here on begins a cat and mouse game to save Hattie and the world while keeping the deadly ‘Snowflake’ out of the wrong hands. Much like the previous FAST &amp; FURIOUS films, this spin off too is an action entertainer that promises edge of the seat stunts, fast cars, and big explosions. While there were initial questions raised whether a spin off on a series like F&amp;F would work and hold the audience’s interest, FAST &amp; FURIOUS PRESENTS: HOBBS &amp; SHAW proves that such films if made well, not only keep the audience in their seats but also provides for a fun filled thrilling watch. Director David Leitch, who has in the past proved his mettle with JOHN WICK (2014), ATOMIC BLONDE (2017) and the more recent release DEADPOOL 2 (2018), has done it again. Thanks to a background as a stuntman with professional martial arts training, Leitch is able to execute and shoot some rather difficult action sequences with precision. Keeping in mind the background of the franchise, Leitch has capitalized on characteristic traits of Hobbs and Shaw to develop seamless fight sequences that are well co-ordinated. As for the story of the film, like most action flicks, this one too features a wafer thin plot. However, it isn’t the plot that is the film’s mainstay; instead it is the eye popping relentless action that is interjected with well-placed humour to break the monotony. Coming to the performances, Dwayne Johnson as Luke Hobbs does what he does best, which is smashing things. Assisting him on this endeavour is Jason Statham as Deckard Shaw who takes the more refined approach as compared to Hobbs’ brute force technique to eliminate targets with finesse. Vanessa Kirby as Hattie Shaw does a commendable job and manages to hold her own despite the fact that the film is centred on the characters of Hobbs and Shaw. However it is Idris Elba as Brixton Lore who steals the limelight. A cybernetic enhanced superhuman hybrid, Brixton is capable of feats that push the boundary. Despite having such power, Elba’s restrain is clearly evident, thus preventing the film from becoming too over the top. The dialogues, though not much are good in places with well time punch lines that deliver. As for the action, well it is a spin off from the FAST AND FURIOUS franchise, so expect tons of it. Though unlike the previous films in the series, this one features fewer high end cars, skimpily clad women and debauchery, but rest assured David Leitch has done well with the action. Adrenaline pumping, edge of the cliff (quite literally) gasoline fuelled explosions that are sure to satiate your hunger for destruction. On the whole, FAST &amp; FURIOUS PRESENTS: HOBBS &amp; SHAW lives up to the FAST &amp; FURIOUS tag, with insane stunts, high octane action, well timed humour and an entertaining rollercoaster ride that keeps you in your seat. At the box office, the film that releases in four languages, English, Hindi, Tamil and Telugu is expected to open well and will see an increase in footfalls over evening and night shows. With little competition at the box office, FAST &amp; FURIOUS PRESENTS: HOBBS &amp; SHAW looks set to dominate the weekend.

Last month, during the promotions of his flick MISSION MANGAL, Akshay Kumar made a startling revelation. He said that he believes that success depends on 70% luck and 30% hard work. His statement surprised many but the fact is that many around the world of different nationalists, communities and even class believe a lot in luck and the concept of lucky charm. No wonder, the business of numerologists and astrologists is thriving. Anuja Chauhan’s novel ‘The Zoya Factor’ tackles this idea and it was written so well that it became a bestseller. The rights were soon picked by Shah Rukh Khan’s Red Chillies Entertainment but the production house failed to make the film within the stipulated period. Aarrti Shetty and Pooja Shetty Deora then bagged the rights and turned the novel into celluloid, while keeping the title of the film the same as the book. So does THE ZOYA FACTOR turn out to be as entertaining as the novel? Or does it fail to impress? Let’s analyse. <img class="aligncenter wp-image-1020460 size-full" title="Movie Review The Zoya Factor" src="https://www.bollywoodhungama.com/wp-content/uploads/2019/09/Movie-Review-The-Zoya-Factor.jpg" alt="Movie Review The Zoya Factor" width="750" height="450" /> THE ZOYA FACTOR is the story of a girl who considers herself unlucky but is the lucky charm for the country. Zoya Solanki (Sonam K Ahuja) is born on June 25, 1983, the day India won the 1983 Cricket World Cup final. Her father Vijayandra Singh Solanki (Sanjay Kapoor) declares that she’ll prove beneficial for the cricket team, having born on such an auspicious occasion. While growing up, Zoya indeed turns out to be a lucky charm for Vijayandra and her brother Zorawar (Sikandar Kher) when they used to play Gully Cricket. As an adult, Zoya however considers herself unlucky. The madness that her family members have for cricket makes her dislike the sport. She works as junior copywriter at an ad agency called AWB and is constantly making mistakes, much to the annoyance of her boss Monita (Koel Purie). Monita sends Zoya on ad campaign comprising of the Indian cricket team in Sri Lanka and warns not to make an error in what she calls a small, simple shoot. Zoya reaches Sri Lanka and becomes friends with Nikhil Khoda (Dulquer Salmaan), the captain of the Indian team. This is a time when the players have lost back to back matches. The World Cup is just a month away and the pressure is killing them. On the day of their match in Sri Lanka, Nikhil invites Zoya to have breakfast with the players. Here, Zoya casually mentions about her date of birth and lucky charm bit. On that day, India miraculously wins the match. The players realise that she is indeed a lucky charm. They make flimsy pretext to stop her from going back to India and try to get her to have breakfast with them for the next match. As expected, they win again. Nikhil however doesn’t believe in luck and The Zoya Factor and feels that it’s hard work that works. Yet he can’t help but fall for Zoya who too is in love with him. Meanwhile, the Indian Cricket Board's Jogpal Lohia (Manu Rishi Chadha) comes to know about Zoya. He approaches her with an offer – dine with the boys in blue before every World Cup match and get paid Rs 1 crore! Zoya however refuses the offer. Jogpal realises that they need Zoya anyhow and hence, they hand over the World Cup campaign to AWB with instructions that Zoya should be leading it. Jogpal is also aided in this plan by his nephew Robin (Angad Bedi) who is also in the team and is Nikhil's rival. He wants to see Nikhil being removed from captaincy and he uses Zoya for his ulterior motive. What happens next forms the rest of the film. THE ZOYA FACTOR is based on the novel by the same name by Anuja Chauhan. The story has a lot of promise and is also relatable. A lot of people believe in luck as well as are cricket fans and hence in a country like ours, such a story can connect with the viewers. Pradhuman Singh Mall and Neha Sharma's screenplay (with additional screenplay by Anuja Chauhan) is effective for most parts. They don’t make the film too emotional even at a single point. The idea is to keep the film light and entertaining from start to finish. In a way, it’s great but at the same time, the film misses the emotional touch. Pradhuman Singh Mall and Anuja Chauhan's dialogues are very witty and contribute a lot to the laughter. The dialogues mouthed by the commentator are sure to be loved by audiences. <span style="text-decoration: underline;"><strong>The Zoya Factor Public Review | Sonam Kapoor Ahuja | Dulquer Salmaan | Abhishek Sharma | FDFS</strong></span> <iframe id="jwiframe" class="playerFrame" src="https://www.bollywoodhungama.com/videos/first-day-first-show/the-zoya-factor-public-review-sonam-k-ahuja-dulquer-salmaan-abhishek-sharma-fdfs/?jwembed=1" width="800" height="340" frameborder="0" allowfullscreen="allowfullscreen"></iframe> Abhishek Sharma's direction is decent. He has handled some scenes with élan but there were also scenes where he really rushed through the proceedings. But the creativity of his execution comes through in several sequences. The scene where it rains is one such sequence – the focus is on Nikhil returning to the pavilion while Zoya could be seen on the giant screen in the foreground. Also, he has used subtle hints to show that the film is set 9 or 10 years back. This is evident through the use of old mobile phones. The idea to not base THE ZOYA FACTOR in 2018 or 2019 makes sense as Zoya’s age is supposed to be not more than 26 or 27. Moreover, the product placements can be an eyesore in most films but here, it’s like an integral part of the film. The Cadbury Silk TVC, for example, is well woven into the narrative. THE ZOYA FACTOR has a very impressive commencement that gives an idea about the cricket and luck elements of the film. Shah Rukh Khan’s witty narration and the animated sequence adds to the fun. The initial scenes of Zoya are okay but the film gets better once she reaches Sri Lanka and interacts with the Indian team. The romantic track also has its moments. Two scenes stand out here – Zoya’s interaction with Nikhil in the elevator and Nikhil meeting Zoya’s family and family friends. Post-interval, the film slips a bit. Also, the film seems too quick at places. The World Cup sequence in the pre-climax and climax however revives the interest. The performances are great by all actors. Sonam K Ahuja suits the part to the T. One can’t imagine anyone else for this role and she does total justice, whether in the scenes of her being love struck or acting pricey or even acting mature and giving out some important lessons to Nikhil in times of need. Dulquer Salmaan is super-dashing but he also gets his act right. He’s totally into his character and convincingly seems the captain of the team. Angad Bedi gets a great part and also screen space and is fine as the baddie. Sikander Kher is the surprise of the film. His role might remind one of Prateik’s character in JAANE TU YA JAANE NA [2008] but his part stands out and Sikandar ensures that happens. One of his best scenes is when he offers tea to the very protestors who have come to vandalize his house! Sanjay Kapoor is a natural. Manu Rishi Chadha is fine and it’s good that he doesn’t overdo the lisping bit. Koel Purie is strictly okay. Pooja Bhamrrah (Sonali) looks quite glamorous and plays the supporting part well. From the other crickets, the ones who leave the mark are Abhilash Chaudhary (Shivi), Gandharv Dewan (Harry) and Sachin Deshpande (Lakhi). Shankar-Ehsaan-Loy's music is in sync with the film’s mood. <em>'Lucky Charm'</em> is the best of the lot followed by <em>'Kaash'</em> and <em>'Maheroo'</em>. <em>'Pepsi Ki Kasam'</em> is played in the end credits. Indrajit Sharma and Parikshit Sharma's background score (with additional background score by Kingshuk Charavarty) is dramatic and adds to the fun. Manoj Lobo's cinematography is suitable and the lensman does a good job in the cricket scenes especially. Theia Tekchandaney, Abhilasha Devnani and Gayatri Thadani's costumes are very appealing. The ones worn by Sonam especially are too good which was expected. Rajat Poddar's production design is rich. After Studios' VFX is quite good, although it’s a bit poor in some scenes. But overall, it’s a good job considering that quite a many scenes are shot against the green screen. Utsav Bhagat's editing gives the film a pacy feel but some scenes could have had a bit of slow, slow-motion effect especially in the finale. On the whole, THE ZOYA FACTOR is a feel-good popcorn entertainer that works chiefly due to concept, treatment, humour and performances. At the box office, it has the potential to grow dramatically due to a good word of mouth.

Reincarnation sagas have been immensely popular in Bollywood. There’s a certain charm to see protagonists facing an untimely death and then avenging for the wrongdoings in their next life. Interestingly, there has never been a reincarnation comedy. This void has now been filled thanks to HOUSEFULL 4. The film looks grand in every way and is also the big Diwali release. So does HOUSEFULL 4 emerge as the ideal entertainer for families in this festive season? Or does it fail to impress? Let’s analyse. <img class="aligncenter size-full wp-image-1034345" src="https://www.bollywoodhungama.com/wp-content/uploads/2019/10/housefull4567.jpg" alt="" width="750" height="450" /> HOUSEFULL is the story of three couples and how destiny helps them reunite after 600 years. The story begins in 2019. Harry (Akshay Kumar) is a barber in London who has a habit of momentarily losing his memory when he hears a loud noise. During one such time, he ends up destroying a large amount of money belonging to Michael (Sharad Kelkar) that was given to him for safekeeping by Big Bhai. Big Bhai hence gets angry at Harry, his brother Max (Bobby Deol) and their friend Roy (Riteish Deshmukh). He demands them to return the money of Bhai. Harry, Max and Roy then tell Bhai that they are in a relationship with Pooja (Pooja Hegde), Kriti (Kriti Sanon) and Neha (Kriti Kharbanda) respectively. All three are daughters of a very wealthy man, Papa Ranjeet (Ranjeet). Hence they’ll pay Big Bhai the money once they get married to them. The trio then meet Papa Ranjeet and the marriage is fixed. The venue chosen is a place called Sitamgarh, a town in India. The trio along with their girlfriends and Papa Ranjeet arrive at Sitamgarh palace, which has now been converted into a hotel. The moment they reach there, the bell boy, Aakhri Pasta (Chunky Panday) claims that all of them were a part of the kingdom of Sitamgarh. He goes overboard while making the claim, which makes the guests uncomfortable. Hence the manager Winston Churchgate (Johny Lever) fires Aakhri Pasta. However, Harry has often got flashes of his past life. He goes to Madhavgarh, where Aakhri Pasta resides, to find out more information. As soon as he reaches Madhavgarh, Harry is able to remember his past life. The story then goes on a flashback mode in the year 1419. Bala (Akshay Kumar) is a notorious Prince of Madhavgarh who is banished from the kingdom by his father (Parikshit Sahni). With the help of Pasta (Chunky Panday), he finds out that the king of Sitamgarh, Maharaja Surya Singh Rana (Ranjeet) will be celebrating his birthday and that he had three daughters, Madhu (Kriti Sanon), Meena (Kriti Kharbanda) and Mala (Pooja Hegde). Bala arrives in Sitamgarh and succeeds in wooing Madhu. Meanwhile, Bangdu Maharaj, a dancer in the royal palace, gets into a relationship with Mala while the warrior Dharam (Bobby Deol) starts an affair with Meena. The king even approves the union and their marriages are fixed. All is going well but Suryabhan (Sharad Kelkar) who wants to be king comes up with a plan. He kills brother of Gama (Rana Daggubati), a ferocious chieftain of a neighbouring kingdom. Gama is made to believe that it’s the king who ordered the killing. As a result, Gama arrives in Sitamgarh during the marriage ceremony for revenge. In the ensuing battle, they all die. What happens next forms the rest of the film. Sara Bodinar and Sajid Nadiadwala's story is very weak. Aakash Kaushik and Madhur Sharma's screenplay (with additional screenplay by Farhad Samji, Tushar Hiranandani, Sparsh Khetarpal and Tasha Bhambra) spoils the show further. It seems like the makers took audiences for granted and in the attempt to show grandeur, they missed out on the factors that made HOUSEFULL such a successful franchise. Farhad Samji's dialogues add to the fun but only at places. Farhad Samji's direction is unimpressive. Though for most parts, he is able to handle the grandeur and confusion well. The opening credits are very similar to the opening of BAAHUBALI 2: THE CONCLUSION. In fact there’s an in-your-face reference to the film later. However, several sequences are weak and the jokes fall flat. The writing is also to blame but the director should have hidden these shortcomings with his execution. Sadly that doesn’t happen. HOUSEFULL 4 begins on a very fun note. The madness that happens at Harry’s salon sets the mood. The film gets better as they all reach Sitamgarh. Once the flashback begins, one expects the film to go on a high. But the opposite happens as the humour is missing from the film. Yes there are fun moments but they aren’t funny enough to give audiences a <em>paisa</em> <em>vasool</em> time. Much of the second half is about how Harry tries to persuade Max and Roy that they are doing a mistake by getting married to their <em>bhabhis</em>. The humour here is strictly okay and in the Nawazuddin Siddiqui’s track, it goes out of the window. Thankfully the entry of Pappu Rangeela (Rana Daggubati) acts as a respite. The climax works only in parts. The continuity issues spoil the fun. <span style="text-decoration: underline;"><strong>FUN UNLIMITED: Team Housefull 4 Interview | Crazy Rapid Fire, Hilarious Quiz &amp; 5 Second Challenge</strong></span> <iframe id="jwiframe" class="playerFrame" src="https://www.bollywoodhungama.com/videos/celeb-interviews/fun-unlimited-team-housefull-4-interview-crazy-rapid-fire-hilarious-quiz-5-second-challenge/?jwembed=1" width="800" height="340" frameborder="0" allowfullscreen="allowfullscreen"></iframe> Akshay Kumar emerges as the most entertaining actor in the film. His Bala act is superb but even in the 2019 portions, he is too good. Riteish Deshmukh comes next. As the effeminate Bangdu Maharaj, he does a fine job which was expected as he has done similar roles in the past. Bobby Deol is disappointing as he doesn’t have much to contribute in terms of humour. Rana Daggubati is excellent in both avatars. He adds to the fun in the pre-climax and climax especially. Talking of the girls, all three look stunning. Kriti Sanon gets her share of interesting scenes. Kriti Kharbanda makes a mark in the scenes where she hums Hindi songs. Pooja Hegde is decent. Chunky Panday doesn't get enough scope as in part 1 and 2 but he gets to be a part of some crazy scenes. Johny Lever manages some laughs in the second half. Sharad Kelkar is efficient in a small role. Manoj Pahwa raises laughs in his cameo appearance. Ranjeet is fine. Jamie Lever is okay and the Johny Lever connection comes at a surprise. Parikshit Sahni is nothing great. Nawazuddin Siddiqui is awkward. Songs are average and they won’t have a recall value. <em>'Shaitan Ka Saala</em>' is the best of the lot. <em>'Ek Chumma'</em> comes next followed by <em>'Badla'</em>. <em>'The Bhoot Song' </em>is the weakest part of the film while <em>'Chammo'</em> is forgettable. Julius Packiam's background score is theatrical and the recurring theme is catchy. Sudeep Chatterjee's cinematography adds to the grandeur. Sham Kaushal's action is good. Amit Ray and Subrata Chakraborty's production design is splendid. Costumes compliment the characters. The ladies especially look gorgeous in both avatars. Do It Creative, AI Solve Ltd and Prime Focus's VFX is of superior quality. The Sitamgarh Kingdom especially is depicted in a fascinating manner. Rameshwar S Bhagat's editing is inconsistent and there are several jumps in the narrative. On the whole, HOUSEFULL 4 is a major disappointment and suffers on the account of poor writing and vacuous screenplay. The negative word of mouth will ensure that it will crash at the box office though it might still end up crawling to Rs. 100 crore mark on account of festive period and the extended weekend.

Back in 2013, Disney began the FROZEN saga that told the story of two sisters Elsa and Anna. While Elsa had the power to control ice, Anna was given an unfaltering spirit. Since then, the two sisters have become superheroes of a different kind for kids across the world. Now a few years on, Disney is releasing the second part in the franchise with FROZEN 2 hitting screens. But will the new film live up to its predecessor, will the story of the new film offer something new or will FROZEN 2 like so many other sequels fall short, is what we analyse. <img class="aligncenter size-full wp-image-1043275" src="https://www.bollywoodhungama.com/wp-content/uploads/2019/11/Movie-Review-Frozen-2-English-2.jpg" alt="" width="750" height="450" /> FROZEN 2 starts off with Elsa and Anna living a full life in Arendelle, the city has over time prospered and flourished. Sadly though, things are not meant to last as a haunting echoing voice calls to Elsa from far beyond. Being the only one able to hear the call, Elsa sets off on a journey to find the source of the calling, assisted by her sister Anna, and her friends Kristoff, Olaf and Sven. The five leave Arendelle to travel to an ancient, autumn-bound forest of an enchanted land. They set out to find the origin of Elsa's powers in order to save their kingdom. Will they manage to find the source of the voice Elsa hears, will Elsa’s powers be enough to save them and the city, or will they be overpowered by what they find in the enchanted forest is what the film is about. In the six years Disney took to develop FROZEN 2, the production house has put in the extra effort in not only developing an engaging story, but enabling the same with captivating visuals. With computer animation at its best, the film is a seamless visual treat that kids are sure to love. Given the immense fan following among kids that FROZEN developed, the sequel to the film plays to this audience. However, unlike the previous film, FROZEN 2 has a slightly darker and more complex story line, which may not be fully understood by the younger lot. However, despite this, there is more than enough to keep the tots happy. Speaking of music, which plays an integral part in the film, like the first film, FROZEN 2 certainly has what it takes when it comes to captivating lyrics and catchy tunes. Though the track <em>‘Into The Unknown’</em> was meant to be what <em>‘Let it Go’</em> was for the first film, it does fall a bit short. On the other hand, Kristoff’s rendition of <em>‘Lost In The Woods’</em> is one track that is sure to strike a chord with a wide section of the audience. Another, tune that is sure to stick is the haunting, yet exhilarating tone that calls from the deep to Elsa. Conveying both mystery and intrigue through sound, the tune will certainly be an ear worm that latches on. Coming to the animation, FROZEN 2 displays why Disney is the best at what they do. Seamless animatronics that follow the laws of physics, well finished textures and realistic movement go a long way in converting CGI into something realistic. <img class="aligncenter size-full wp-image-1043276" src="https://www.bollywoodhungama.com/wp-content/uploads/2019/11/Movie-Review-Frozen-2-English-1.jpg" alt="" width="750" height="450" /> Coming to the voice performances, each of the cast members have risen to the call with pitch perfect notes. Kristen Bell as Anna, Idina Menzel as Elsa, Jonathan Groff as Kristoff, and Josh Gad as Olfa have each done spectacularly well. Unlike the previous film, FROZEN 2 sees Olaf’s character relegated to comedy and we have to say that this helps the film develop a connect with the audience. Here a special mention needs to be made for directors Chris Buck, Jennifer Lee who have done a stellar job in telling what could have been a rather complex and confusing story. On the whole, FROZEN 2 is certainly worth a watch. Though the film might fall a bit short of the previous one, it is in its own right beautiful, exhilarating and captivating. At the box office, FROZEN 2 that caters mainly to kids might face a slight task with competition from the Bollywood release PAGALPANTI. However, given the fan following the series has developed, expectations are that FROZEN 2 will emerge as a winner.

The franchise of STAR WARS has always enjoyed a massive cult like following worldwide. STAR WARS: THE PHANTOM MENACE (1999), followed by STAR WARS: ATTACK OF THE CLONES (2002), STAR WARS: REVENGE OF THE SITH (2005), STAR WARS: A NEW HOPE (1977), STAR WARS: THE EMPIRE STRIKES BACK (1980), STAR WARS: RETURN OF THE JEDI (1983), STAR WARS: THE FORCE AWAKENS (2015) and STAR WARS: THE LAST JEDI (2017), with every new film, the expectation from the franchise has increased. The ninth and supposedly the last chapter has arrived and it brings a lot of nostalgia. STAR WARS: THE RISE OF SKYWALKER is destined to have mixed reactions considering the flick is the conclusion to the story that began in the year 1977.  While the franchise enjoys a huge following, we analyze whether this conclusion to the 42-year saga is the most satisfying on or a controversial one. <img class="aligncenter wp-image-1054446 size-full" title="Movie Review: Star Wars - The Rise of Skywalker (English)" src="https://www.bollywoodhungama.com/wp-content/uploads/2019/12/Star-Wars-The-Rise-of-Skywalker-Review-12.jpg" alt="Movie Review: Star Wars - The Rise of Skywalker (English)" width="750" height="450" /> STAR WARS: THE RISE OF SKYWALKER begins with Kylo Ren (Adam Driver), who is now the Supreme Leader of the First Order is in search of the ancient threat called Sith Lord Emperor Palpatine (Ian McDiarmid). On the other side, Resistance leader Poe Dameron (Oscar Isaac), Finn (John Boyega), Chewbacca (Joonas Suotamo) and their droid friends C3-P0 (Anthony Daniels), and BB-8 are on a quest which quickly turns into a stunning action showdown between the heroes and the villains while they jump from one planet to another with light speed skipping technique. Meanwhile, Jedi Rey (Daisy Ridley) is still in dilemma about her story, her parentage as she has a dark vision which showcases her mysterious connection to Kylo Ren. The two Jedi continue to connect with each other in different ways as they Resistance prepare to fight the Emperor Palpatine. Following the orders of Princess Leia (Carrier Fisher) and lessons of Luke Skywalker (Mark Hamill), the space heroes begin their final journey to win the biggest battle. STAR WARS: THE RISE OF SKYWALKER upped their game as the film boasts of mind-blowing and truly astounding cinematography that leaves the audience wanting for more. The visual effects are seamless which create magic on screen. From the beginning itself, the story leaves you hooked as the galactic world of STAR WARS begins with action packed scenes. The battles, the duals, the light speed jumps, everything seems seamless. Though the story is bit slow in some parts with lesser words and more emotions, it picks up in the second half with some interesting and crazy cameos. The stakes are high in this film and major focus is on Rey and Kylo Ren. However, though JJ Abrams does a marvelous job in directing this last film in the franchise, STAR WARS: THE RISE OF SKYWALKER does not come across as something to write home about. In fact, for the most part the film looks like a series of montages that have been developed to fill certain check boxes that appeal to the audience and fan base strung together. Though the chemistry between Kylo Ren and Rey is worth watching, the predictability of the film’s story is a massive dampener. More often than not, the viewer is able to foretell the coming sequences, and if discerning will also more or less be able to gauge what the climax of the film will be. Despite this, STAR WARS: THE RISE OF SKYWALKER does have its high points, but sadly they are few and far between. For a quintessential Star Wars fan who has followed the series, this film would be more of a walk down memory lane. <img class="aligncenter wp-image-1054447 size-full" title="Movie Review: Star Wars - The Rise of Skywalker (English)" src="https://www.bollywoodhungama.com/wp-content/uploads/2019/12/Star-Wars-The-Rise-of-Skywalker-Review-2.jpg" alt="Movie Review: Star Wars - The Rise of Skywalker (English)" width="750" height="450" /> Coming to the performances, every actor shines bright in the film but it is hands down Daisy Ridley’s show. This time around, she has matured while portraying Rey. Two instances stand out and both scenes are shared with Adam Driver. Adam Driver Kylo Ren gets his due in this film with powerful performance as Kylo Ren as he gets the audience emotionally involved in his storyline. Rey and Kylo Ren’s scenes are some of the most engaging scenes in the film with some complex lightsaber battles involved. Late Carrie Fisher (Princess Leia) returns as the makers use the limited footage that was left of her as they pay tribute to the original girl of Star Wars. Her scenes are sensitively projected. Oscar Isaac as Resistance leader Poe Dameron along with John Boyega’s Finn along and BB-8, C-3PO and Chewbecca bring banter, humor and emotions to their scenes. Oscar and John’s bromance has hits hilarious moments as they continue to be the heroes who wear their hearts of their sleeves. Dominic Monaghan, new member of Resistance, hardly has any time to establish his character. Ian McDiarmid as Emperor Palpatine is astounding. Meanwhile, Kelly Marie Tran's character Rose Tico hardly gets any screen time besides a few moments during the final battle. We get introduced to Keri Russell as Zorri Bliss who is decent in her scenes. The certain cameos are nostalgia – filled which makes this end of the sage a memorable one. JJ Abrams direction is crisp and tight as he delivers some of the biggest questions that were left answered during STAR WARS: THE FORCE AWAKENS (2015) and STAR WARS: THE LAST JEDI (2017). JJ Abrams captures the essence of this galactic world as he brings out the best in every character especially Ren and Rey. John Williams background score is incredible. The story by JJ Abramas, Chris Terio, Colin Tervorrow, Derek Connolly is moving. JJ Abrams and Chris Terrior is impressive. On the whole, STAR WARS: THE RISE OF SKYWALKER may not be for everyone but it gives a bittersweet yet endearing ending to saga which is a tribute to the legacy. The die-hard fans might enjoy some of the stunning intergalactic moments.

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

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

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

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

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

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

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

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

Table 1: Action in March 2020

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

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

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

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

Yes, I think so.

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

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

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

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

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

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

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

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

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

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

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

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

Happy Investing!

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

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

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

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

If you are serious about investing in a rewarding mutual fund scheme, Subscribe now!

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Author: Rounaq Neroy

This article first appeared on PersonalFN here.

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

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

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

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

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

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

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

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

The schemes that are wound up are:

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

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

What led to the move?

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

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

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

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

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

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

Table: Details of schemes being wound up

What does it mean for investors of these schemes?

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

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

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

What should investors in debt funds do?

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

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

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

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

The way ahead...

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

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

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

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

Author: Divya Grover

This article first appeared on PersonalFN here.

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

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

Unnerving movements for debt mutual funds investors!

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Author: Rounaq Neroy

This article first appeared on PersonalFN here.

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

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

Last month, SEBI had asked credit rating agencies not to consider any delay in payment of interest or principal loan amount arisen solely due to the nationwide lockdown conditions as a default.

The stress in the Indian mutual fund industry due to the pandemic impact deepened after Franklin Templeton MF decided to wind down six of its debt schemes. The lack of liquidity and redemption pressure compelled FTMF to take the extreme step.

In this economic environment, Mutual Fund houses are concerned about companies that are likely to delay and default in payments. Many companies have sought deferment/rescheduling of payment due to COVID-19 related disruptions. In order to minimize the resultant damage, market regulator SEBI recently provided temporary relaxation in valuation norms for instruments mutual funds hold.

SEBI has asked valuation agencies to avoid treating delays in payment of interest/principal or extension of maturity of a security as default for the purpose of valuation of money market or debt securities held by Mutual Funds, if it has been caused solely due to COVID-19 pandemic lockdown and/or in light of the moratorium permitted by RBI.

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

"In view of the nationwide lockdown and the three-month moratorium/ deferment on payment permitted by RBI, a differentiation in treatment of default, on a case to case basis, needs to be made as to whether such default occurred solely due to the lockdown or loan moratorium", SEBI circular said.

SEBI has stated that in the above mentioned scenario, if there is any difference in the valuation of securities provided by two valuation agencies, the conservative valuation shall be accepted. This revised norm will be in effect until the RBI's period of moratorium.

However, AMCs shall continue to be responsible for true and fairness of valuation of securities.

Mutual fund houses have to mark the value of their assets based on valuations provided by valuation agencies appointed by AMFI.

At present, a debt or money market security is classified as 'Default' if the interest and/or principal amount has not been received on the day such amount was due; or when such security has been downgraded to 'Default' grade by a credit rating agency. Default denoted that the security is below investment grade.

This leads to mark down of the respective security and thereby impacts NAV of the scheme.

SEBI's move provides some relief in this regard. It will ensure that all fund houses follow a uniform approach while dealing with defaults/delay due to COVID-19.

Will it make investment in debt fund safe?

SEBI has not yet provided any moratorium on commercial paper and corporate bond repayment. According to a report published in Livemint, Rs 1.5 trillion worth of commercial paper and corporate bonds will be maturing in the first quarter.

As mentioned earlier, AMCs shall continue to be responsible for true and fairness of valuation of securities. But in the absence of rating downgrade from valuation agencies, fund houses cannot side-pocket their exposure to a defaulting company. Therefore, we may still see some write-offs if the AMC finds recovery to be difficult even after the relaxation period.

COVID-19 has impacted businesses across sectors. Some sectors such as NBFCs were under stress even before the pandemic. The default risk has thus amplified.

The relaxation of valuation would delay the issue, but downgrades would arise subsequently. Spike in number of side pockets (by fund houses) may thus become imminent.

My colleague, Rounaq, rightly mentioned yesterday, losses the investors suffer will be directly proportionate to the stress, pressure mutual fund houses and their investors will face. Eventually retail and High Net-worth Individuals, particularly, will lose confidence and may not be keen to invest in debt funds.

What should investors do?

In these uncertain times, it would be wise sticking to liquid funds and overnight funds for the fixed-income part of your portfolio and avoid funds that take higher credit risk. Alternatively, if you prefer safety of capital, invest in Bank fixed deposits.

Choose a fund house that follows prudent investment process and stringent risk-management system.

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.

SEBI has time and again taken steps to tighten norms for debt funds. As an investor, if you take portfolio risks, align it with your own risk appetite and financial objective.

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

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

If you are serious about investing in a rewarding mutual fund scheme, Subscribe now!

Author: Divya Grover

This article first appeared on PersonalFN here.

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

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

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

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

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

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

Graph 1: The virus has spread even to Indian equities

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

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

Graph 2: YTD Performance of key asset classes

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

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

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

Tactical Asset Allocation with Quantum Multi Asset Fund of Funds

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

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

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

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

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

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

For Gold - Quantum Gold Fund (ETF)

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

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

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

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

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

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

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

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

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

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

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

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

Suitability of Quantum Multi Asset Fund of Funds

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

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

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

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

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

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

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

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

Happy Investing!

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Author: Rounaq Neroy

This article first appeared on PersonalFN here.

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

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

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

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

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

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

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

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

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

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

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

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

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

Investment strategy of HDFC Mid-cap Opportunities Fund

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

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

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

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

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

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

Suitability

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

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

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

Author: Divya Grover

This article first appeared on PersonalFN here.

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

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

Last week the mutual fund industry was jolted by the news of Franklin Templeton MF winding down six of its debt schemes. The fund houses cited high redemption pressure and lack of liquidity due to COVID-19 as the reason behind the move.

There has been a rush of redemption in the debt market due to high volatility and uncertainty caused by the outbreak of pandemic. The stress is more evident in high-risk category of securities where liquidity has dried up. Notably, the schemes that were wound up belonged to the high credit risk category.

The recent FTMF fiasco led RBI to take note of the situation and step up to build confidence in the capital market.

On April 27, 2020, RBI announced the opening of a special liquidity facility (SLF-MF) worth Rs 50,000 crore to ease liquidity pressure on mutual funds.

Under SLF-MF, RBI will conduct repo operation of 90 days tenor at the fixed repo rate. Banks can avail funds under this facility between April 27, 2020 and May 11, 2020 or up to utilization of the allocated amount, whichever is earlier. RBI will review the timeline and amount, depending upon market conditions.

Banks have to utilise the funds availed under this exclusively for meeting the liquidity requirements of MFs by:

• Extending loans, and
• Undertaking outright purchase of and/or repos against the collateral of investment grade corporate bonds, commercial papers (CPs), debentures and certificates of Deposit (CDs) held by MFs.

The liquidity support under this would be eligible to be classified as held to maturity (HTM) even if it goes beyond the 25% limit of total investment in the HTM portfolio.

Will banks come to the aid?

For banks, availing funds at a lower rate (repo rate) and using it to purchase investment grade, which generally carry higher interest, and holding them till maturity seems like a good opportunity, but they may not be as enthusiastic to come to the aid of MFs.

You may recall that few days ago, RBI came out with a similar liquidity window worth Rs 50,000 for NBFCs. Of these, 50% of funds had to be dedicated towards investment in investment grade bonds, commercial paper, and non-convertible debentures small and mid-sized NBFCs and MFIs.

NBFCs who have been dealing with liquidity crunch for quite some time now is one of the worst affected sectors with rising risk of bad loans amid the COVID-19 outbreak.

As a result, the first tranche of the operation worth Rs 25,000 crore conducted few days ago received bids for just Rs 12,850 crore.

Similarly, the stress in debt mutual fund segment is not new - some categories of debt funds have been facing redemption pressure ever since the IL&FS debacle came to light. Banks may be reluctant to lend to mutual funds with higher exposure to lower quality papers, which have been lacking in liquidity.

If banks do lend to MFs it may be limited to those with good quality papers. This will not serve the intended purpose of the facility.

Many mutual funds investing in credit-risk grade securities may have offloaded good quality papers to meet the high redemption and may be now left with only lower quality papers. Risk aversion in banks has magnified due to rising fear of bad loan pile up. Hence, banks may not be keen to accept lower quality papers as collateral.

Besides, some mutual funds may already have high borrowing rate availed to fund redemptions and further borrowing may not be a viable option for them.

Thus, if redemption pressure continues, liquidity strain will continue in schemes carrying higher exposure to lower rated securities. Hence, RBI may have to come out with alternative steps to deal with issue that would infuse liquidity directly to mutual funds rather than relying on banks.

Word of caution for investors in debt funds

RBI and AMFI have assured investors that stress in capital market is confined to the high-risk debt MF segment at this stage; the larger industry remains liquid.

In the current market volatile and uncertain environment, it would be advisable to stay away from credit risk schemes. However, do not resort to panic selling. Doing that will have an exponentially negative effect on funds, primarily those having exposure to moderate and low rated assets.

Redemption pressure may force the fund managers to sell good quality papers in the portfolio in the secondary market and pile up exposure to low rated assets because it will be difficult to liquidate at fair value.

Keep in mind that debt funds are not risk-free. Investment in debt funds carry various risks relating to liquidity, credit quality, and interest rate. Therefore, before investing in debt funds understand the various risks involved and invest in schemes where the portfolio risk aligns with your own risk appetite and financial objective.

Moreover, choose a fund house that follows prudent investment process and stringent risk-management systems.

In these uncertain times, it would be wise to stick with liquid funds and overnight funds for the debt part of your portfolio as they are highly liquid and carry lower risk.

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.

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

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

If you are serious about investing in a rewarding mutual fund scheme, Subscribe now!

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.

Many investors park their surplus money in debt schemes in an attempt to earn higher returns than Bank FDs. However the recent incident of Franklin Templeton MF winding down six of its debt schemes has dented investor sentiment and sparked speculation about the safety of their investments.

The news came as a shocker to the investors because the six schemes, the fund house, and the fund manager had a good performance record. Investors in the wound up debt schemes of FTMF are now left with no choice but to wait for the fund house make repayments.

If you are one of them, surely you want to know about the timeline of payouts from the respective schemes.

Here is what you should know first...

Before returning the money to unitholders, the fund will have to repay the borrowings by the respective schemes that was taken to fund the heightened level of redemptions. Keep in mind that the repayment of borrowings does not impact the value of money to be returned to the unit holders, though it can delay the start of pay out to unitholders.

The repayment of the borrowings that the fund has taken, along with the cash flows it receives in the respective schemes based on the maturity of the underlying securities in the portfolio as well as coupon receipts will determine the payout to the unitholders.

Moreover, the fund will seek pre-payment from issuers of the underlying securities and will look to sell portfolio holdings in secondary market at fair value.

Table 1: Maturity profile of wound up FTMF schemes

Franklin India Ultra Short Bond Fund (FIUBF) and Franklin India Low Duration Fund (FILDF) are the schemes with shorter maturity. If you are an investor in this scheme, you may expect a significant payout within 2-3 years. However, to recover the entire amount you may have to wait up to 5 years.

If you are wondering why a scheme with average maturity of just 0.44 years and 1.45 years will take around 5 years to repay the entire amount?

This is because the maturity of some underlying securities is much longer (around 4-5 years), even though the schemes belong to low duration category. Additionally, the schemes have borrowings in the range of 6.5% and 8.5% respectively, which have to be repaid first.

Whereas, if you are an investor in Franklin India Dynamic Accrual Fund (FIDA), Franklin India Short Term Income Fund (FISTIP), Franklin India Credit Risk Fund (FICRF), and Franklin India Income Opportunities Fund (FIIOF) your wait will be longer. These schemes primarily invest in medium to long duration securities.

These funds had to sell a number of their short term and liquid securities in the portfolio to meet redemptions. Hence, to get a significant payout from these schemes you will have to wait at least 4-5 years. The year wise expected cumulative cash flows is given in the table below.

Notably, FIIOF is the longest duration fund from among the six funds that have been wound up. It will only be able to repay a very small portion (5%) in the next two years.

Another key reason that could delay the payout from these schemes is the high borrowing rate. FISTIP has 28% of its assets as borrowings, FIIOF has 26%; while FICRF also has significant 16% as borrowings. Furthermore, factors such as credit issues or payment delays faced by any of the investee companies could negatively impact cash flows.

Table 2: Cash flows expected by FTMF across different time period

Many of the securities with longer maturities have regular interim cash flows and features such as interest rate resets or call/ put options, which significantly reduce the effective maturity and the same has been factored into the calculation of the Macaulay Duration.

FTMF said that it would actively explore opportunities with a goal to facilitate repayment prior to the maturity of the portfolio investments. To do this it will seek prepayment from the issuers of the underlying securities and look to sell the securities in the secondary market.

However, the current market scenario is rife with risk aversion and illiquidity. The fact that wound up schemes have high holding of lower rated securities, FTMF will have to wait for the market conditions to go back to normal to liquidate the portfolio at the earliest, without causing value erosion for investors.

[Read: RBI Steps in to Take Some Pain Off Mutual Funds. Will It Help?]

Way ahead for debt fund investors

Keep in mind that debt funds are not risk-free. Investment in debt funds carry various risks relating to liquidity, credit quality, and interest rate. Therefore, before investing in debt funds understand the various risks involved and invest in schemes where the portfolio risk aligns with your own risk appetite and financial objective.

In this market environment, it would be preferable to invest in instruments issued by government and public sector enterprises, and stay away from those having high exposure to private issuers.

At PersonalFN, we arrive at top rated funds using our SMART Score Model. If you wish to select worthy mutual fund schemes, I recommend you to subscribe to PersonalFN's unbiased premium research service, FundSelect.

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

If you are serious about investing in a rewarding mutual fund scheme, Subscribe now!

Author: Divya Grover

This article first appeared on PersonalFN here.

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

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

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

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

Table 1: Wealth erosion across market cap segments

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Happy Investing!

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Author: Rounaq Neroy

This article first appeared on PersonalFN here.

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

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

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

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

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

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

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

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

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

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

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Bollywood actress and Miss Universe 2000 Lara Dutta turned 42 years old on April 16, 2020. Lara Dutta's birthday celebrations, however, were not stopped due to the COVID-19 lockdown. Lara Dutta's husband Mahesh Bhupathi was the one to bring in her birthday and host what was called a 'virtual birthday party' at their home in Mumbai.

Mahesh Bhupathi also took to Instagram to share a couple of photos and a video of Lara Dutta's birthday celebrations along with their daughter Samaira. The couple also had their close friends on a video conference to wish Lara Dutta on her birthday. Mahesh Bhupathi described how the part went and also had a fun caption to go with it. Virtual birthday party done .. Happy Birthday, Lara. May God continue to bless you with this amazing husband and incredible kid for another few decades atleast. Yes, we ate well today." Here's Mahesh Bhupathi's post on Instagram.

 

 

 

View this post on Instagram

Virtual Birthday Party done .. Happy Birthday @larabhupathi . May God Continue to Bless you with this amazing husband and incredible kid for another few decades at least 😍😍 . Ps .. yes we ate well today . Thanks for the amazing cake @hakunamatatapatisserie

A post shared by Mahesh Bhupathi (@mbhupathi) onApr 16, 2020 at 6:50am PDT

Lara Dutta made her Bollywood debut in 2002 with the superhit film Andaz alongside Akshay Kumar and Priyanka Chopra, who also made her debut. Both actresses won the Filmfare award for Best Female Debut.

Lara Dutta has since appeared in a list of Bollywood hits such as Masti, No Entry, Housefull, Partner, Bhagam Bhaag and Don 2. She also ventured into production with the film Chalo Dilli in 2010.

Mahesh Bhupathi and Lara Dutta got engaged in September 2010 and tied the knot in February 2011. In January 2012, Lara Dutta and Mahesh Bhupathi welcomed their daughter Samaira into the world.

Russian tennis beauty Maria Sharapova turns 33 on Sunday, but the celebrations already began for the former World No. 1, a day earlier. On Saturday, she shared this picture of a cake with her four million Instagram followers and captioned it: "This little piece of cake goodness arrived at our doorstep this morning [happy early birthday to meeee] and didn't make it past noon."

 

 

 

View this post on Instagram

A post shared by Maria Sharapova (@mariasharapova) onApr 17, 2020 at 5:18pm PDT

Originally known as a German tree cake, the Japanese got some skin in the game and crafted several versions of their own. It's one of my favourite morning coffee indulgences. Thank you, Yutaka!!"

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

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

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

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

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

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

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

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

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

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Former Danish tennis star Caroline Wozniacki has turned to baking during weekends during the Coronavirus lockdown.

On Sunday, the former World No. 1 Instagrammed this picture to her 1.4 million followers, of a red velvet cake she baked and wrote: "Weekdays are for fitness. Weekends are for baking [and eating]. First time baking a layered red velvet cake with homemade vanilla cream cheese frosting! I think it was a success!" To this, her NBA star hubby David Lee replied: "Definitely a success! Two pieces in and I'm ready for a nap."

 

 

 

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Weekdays are for fitness🏃🏼‍♀ï¸ÂðŸ‹ðŸ¼‍♀ï¸Â, weekends are for baking👩🏼‍🍳 (and eating😋) - first time baking a layered red velvet cake with homemade vanilla cream cheese frosting! I think it was a success! 😍

A post shared by Caroline Wozniacki (@carowozniacki) onApr 18, 2020 at 12:24pm PDT

Caroline Wozniacki is the first female from a Scandinavian country to be the number one player in WTA rankings. Wozniacki has won a total of 30 singles titles in her entire career. Wozniacki's highest point in her tennis career came when she won the 2019 Australian Open. Her career statistics are 635-264 with a winning percentage of 70.6.

Caroline Wozniacki is married to NBA champion David Lee. They tied the knot in June 2019.

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

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

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

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

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

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

Jozy Altidore

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

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The ATP and WTA, along with the International Tennis Federation and organisers of the four Grand Slams (Tennis Australia, the Federation Francaise de Tennis, All England Club and United States Tennis Association) are planning create a 'Player Relief Programme' to provide assistance to the coronavirus-impacted players.

"With so much uncertainty around when it will be safe to restart the professional tennis tours, the international governing bodies of world tennis can confirm they are in discussions to create a Player Relief Programme to provide much-needed assistance to the players who are particularly affected during this time of the coronavirus (COVID-19) crisis," ITF said in a statement on Tuesday.

"These discussions have been progressing well and details are being finalised with an announcement expected in the near future. Already agreed is that the ATP and the WTA will administer the Player Relief Programme and all seven stakeholders will make a significant contribution," the statement added. IFT further said: "We know that for our players, as well as for so many people worldwide, there is the need for financial support for those who need it most and we look forward to finalising and sharing the further details of a plan in due course."

The London-based governing body has also announced the creation of player panels for those competing on its World Tennis Tour. "The panel will provide a forum for players to provide their input and have their say on how the tour is run and will be a further opportunity for the ITF to engage with the player community," ITF said. The men's and women's players will each elect a panel of seven current player members, who will have voting rights.

Men's players with an ATP ranking of below 350 and women's tennis players with a WTA ranking not higher than 151 will be allowed to nominate a fellow player or stand in the election.

All professional tennis activities remain suspended till July 13 due to coronavirus outbreak which has so far claimed more 1.7 lives across the world.

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

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

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

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

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

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

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

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WTA founder Billie Jean King joined Roger Federer and Rafael Nadal on Wednesday in suggesting now is the time to merge the men's ATP and women's body into one umbrella organisation to oversee the two professional tennis tours. Federer, holder of the men's record of 20 Grand Slams, was the first to raise the notion on Twitter, triggering an overwhelmingly enthusiastic response from King and Nadal.

"Just wondering...am I the only one thinking that now is the time for men's and women's tennis to be united and come together as one?" Federer said. "I am not talking about merging competition on the court, but merging the two governing bodies [ATP and WTA] that oversee the men's and women's professional tours." Trailblazer King, who was a part of establishing the WTA in 1973 and was one of the 'Original 9' on the tour, said her support for the idea dates back decades.

Common voice needed

"I agree, and have been saying so since the early 1970s. One voice, women and men together, has long been my vision for tennis. The WTA on its own was always Plan B. I'm glad we are on the same page. Let's make it happen. #OneVoice," she tweeted. Nadal, who has 19 Grand Slam titles, supported his long-time rival's proposition. "Hey @rogerfederer as you know per our discussions I completely agree that it would be great to get out of this world crisis with the union of men's and women's tennis in one only organisation," he said.

Federer and Nadal argued by a merger tennis could emerge stronger from the Coronavirus lockdown which has seen the sport shut down, with Wimbledon cancelled for the first time since World War II and the French Open pushed back to the end of September. "It probably should have happened a long time ago, but maybe now is really the time. These are tough times in every sport and we can come out of this with two weakened bodies or one stronger body," Federer wrote. He said the current system was "too confusing for the fans when there are different ranking systems, different logos, different websites, different tournament categories".

Talks underway: Wawrinka

Later, three-time Grand Slam winner Stanislas Wawrinka claimed discussions are underway regarding the move with the ATP's chairman Andrea Gaudenzi. "It was not just a comment like that, there is more talk behind that. Gaudenzi at the ATP was already talking about it," he said during an Instagram Live with 18-time Grand Slam champion Chris Evert. Australian star Nick Kyrgios and two-time women's Grand Slam champion Simona Halep also said they were behind the idea.

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

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

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

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

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

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

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

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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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Belgian tennis player Kirsten Flipkens was fined by police during a cycle ride recently. World No. 77 Kirsten unknowingly rode across the border, entering the Netherlands and paid the price for the violation. According to Dutch newspaper Het Laatste Nieuws, Kirsten had to pay the border police a fine of 250 euros.

"I had entered a route of 130km in my GPS [the system picks the route automatically] and then I saw that I found myself in The Netherlands [in Komoot] as it entered the shortest route back to Belgium. I saw them [police] from a distance of one kilometre and then immediately I was put aside like a criminal with sirens on the side. Really bad," a frustrated Kirsten wrote on Twitter, adding that another cyclist passing by told her, that he had received only a warning at the same crossing.

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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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Tennis star Sania Mirza on Thursday became the first Indian player to be nominated for the Fed Cup Asia/Oceania Group I Heart Award. Former world number one and multiple Grand Slam winner, Sania, returned to Fed Cup competition for the first time since 2016 and guided Team India with her stunning performance, recording three doubles wins in the Asia/Oceania Group I tournament earlier this year in March. Her performance, along with another senior compatriot Ankita Raina, proved decisive in India's historic qualification to the Fed Cup Play-offs.

Reflecting on her nomination, Sania said the Fed Cup result at the Asia/Oceania tournament is one of the greatest achievements of her playing career. "Stepping on to the court for the first time in India colours was a moment of pride for me, back in 2003. It has been an eighteen-year long journey since then and I feel extremely proud and privileged to have contributed to the success of Indian tennis. The Fed Cup result at the Asia/Oceania tournament last month is one of the greatest achievements of my playing career. These are the moments an athlete plays for and I am grateful to the Fed Cup Heart Awards selection panel for this recognition" Sania said in a statement.

The Fed Cup Heart Award is an International Tennis Federation (ITF) initiative that was established in 2009 to recognize Fed Cup players. This year, six players have been nominated for the three regional Group I Fed Cup Heart Awards. In Fed Cup Heart Award's 11th edition this year, Priska Madelyn Nugroho of Indonesia is the second player nominated from the Asia/Oceania region. They are joined by Anett Kontaveit (Estonia) and Eleonora Molinaro (Luxembourg) from Europe/Africa; Fernanda Contreras Gomez of Mexico and Paraguay's Veronica Cepede Royg from the Americas, as the remaining four regional Group I nominations.

The winners of the Heart Awards will be determined by online voting by fans which will go live on 1st May and will go on until 8th May.

In 2019, Zarina Diyas from Kazakhstan emerged victorious from Asia/Oceania Group I.

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British tennis ace Andy Murray won the Virtual Madrid Open title on Thursday after a semi-final walkover, when opponent Diego Schwartzmann, logging in from Argentina, suffered a connection glitch.

Andy beat Belgium's David Goffin in the final, but the drama of the online tournament was in the semis. Diego kept winning points even though Andy was hitting winners.

Andy exclaimed: "This is madness," following which Diego withdrew. "I don't deserve to be in the final you play the final," Diego told Andy. "Due to technical problems with @dieschwartzman's connection that prevented him from competing normally in his semi-final match, the players have agreed that @andy_murray should progress to the #MMOPEN Virtual Pro final," the organisers tweeted. Later, Andy said he would donate a part of his prize money to UK's National Health Services (NHS): "I'll be donating half of the USD 45,000 prize money to the NHS and the other half to the tennis players relief fund."

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Tennis stars like Serena Williams, Maria Sharapova, Naomi Osaka, Kei Nishikori and others will participate in a virtual charity tennis tournament. IMG is the company coordinating the tournament titled "Stay at Home Slam" and it will be streamed on Sunday on Facebook Gaming and on the tennis Facebook page of IMG. Two-person teams will compete using the Mario Tennis Aces game on Nintendo Switch.

Competitors will play the video game from their homes across the country, and each will receive $25,000 donated to the charity of their choice, with the winner of the tournament receiving an additional $1 million in donation. "I am proud our IMG tennis clients came together so quickly to support a multitude of great causes," said Max Eisenbud, SVP of tennis clients at IMG as per the official website. "It is a testament to the people we work with across all our divisions that we were able to bring this to life in such a short amount of time."

"It's been incredible to see the creative ways athletes are using social media to support people during this difficult time," said Evan Shugerman, Facebook Athlete Partnerships Lead. "We're excited to be partnering with IMG to contribute to those efforts, which will bring some of the world's top athletes together on Facebook for an entertaining and impactful competition."

Legendary tennis player John McEnroe and popular YouTube personality iJustine (Justine Ezarik) will be commentating the matches.

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Ukrainian tennis star Elina Svitolina is making the most of the Coronavirus-forced lockdown by teaming up with her friends to start her food blog.

The World No. 5 recently shared a picture with her 5,96,000 Instagram followers to announce her new venture. "I am excited to share a new blog that I have started, together with my culinary friends, giving you easy healthy recipes and some new ideas for the use of 'superfoods'. Link in bio. More stuff to come. Stay tuned," she wrote.

 

 

 

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👋🏼👋🏼👋🏼 I am excited to share a new blog that I have started, together with my culinary friends, giving you easy healthy recipes and some new ideas for the use of ‘superfoods’. ⁣ Link in bio. ⁣ More stuff to come. ⁣ Stay tune. 😘

A post shared by Elina Svitolina (@elisvitolina) onApr 28, 2020 at 7:43am PDT

She recently shared recipes of coconut, strawberry, blueberry and spinach smoothies.

The link to Elina's food blog is: https://theesclub.com

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

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

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