COVID-19: Brace for ‘new normal’, govt says

first_imgCOVID-19 national task force chief Doni Monardo has asked the public to prepare for a “new normal” for the next several months, saying physical distancing and mask-wearing were likely here to stay.The task force had discussed changing public behavior to accommodate the post-pandemic reality with President Joko “Jokowi” Widodo, Doni said.“As we comply with large-scale social restrictions [PSBB], we need to keep wearing masks, practicing physical distancing and washing our hands,” he told the press after a private meeting with Jokowi on Monday. He said a number of red zones across the country had recorded lower transmission rates following the implementation of PSBB but that the country was not out of danger yet.“It will take a very long time for us to fully recover. Perhaps we will adjust to a new normal by wearing masks and maintaining physical distance,” Doni said.Read also: Jakarta’s curve flattened? Experts question government’s claimSeveral provinces across the archipelago had stepped up their efforts to mitigate the spread of COVID-19, he said. The Jakarta administration had closed 168 factories and manufacturing plants, while the Riau administration had started enforcing penalties for violations of quarantine rules.Last month, Doni claimed Jakarta – the country’s COVID-19 epicenter – had flattened the transmission curve thanks to the implementation of PSBB.However, experts have warned against taking the government’s assertion at face value, mainly because the country’s lack of PCR testing capacity could cause cases to be underreported or reported late. As of Monday, Indonesia had confirmed more than 11,192 COVID-19 cases and 845 deaths linked to the disease.Topics :last_img read more

Xavier Amaechi deletes all trace of Arsenal from Instagram after Unai Emery snub

first_imgAdvertisement Metro Sport ReporterThursday 11 Jul 2019 3:14 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link506Shares Advertisement Xavier Amaechi has not been included in Arsenal’s squad for the pre-season tour of America (Picture: Getty)Xavier Amaechi has deleted all traces of Arsenal from his Instagram account after he was left out of Unai Emery’s 29-man squad for the upcoming pre-season tour of America.The 18-year-old impressed for Freddie Ljungberg’s Under-23 side last season and with the Swede having recently been promoted to Emery’s first team coaching set-up, Arsenal promising crop of youngsters are expected to be given chances to stake claims for first team opportunities.Emery included the likes of Reiss Nelson, who spent last season on loan at Hoffenheim, Emile Smith Rowe, Bukayo Saka and Tyreece John-Jules in the touring party ahead of matches against Colorado Rapids, Fiorentina, Bayern Munich and Real Madrid.AdvertisementAdvertisementAmaechi, however, has been left behind and will remain with the U23 side now coached by Steve Bould.ADVERTISEMENTMore: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City Commentcenter_img Xavier Amaechi deleted all traces of Arsenal from his Instagram account (Picture: Getty)The talented winger was reportedly annoyed with Emery after he was included in Arsenal’s Europa League final squad but snubbed for a place on the bench despite the Spaniard being permitted to name 12 replacements.Amaechi’s current contract expires at the end of next season but Bayern Munich are already said to be plotting a move.Arsenal have lost other promising talents in recent years, such as Chris Willock and Marcus McGuane to Benfica and Barcelona respectively, and would expect a decent fee should any club try to prise Amaechi away this summer.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal Xavier Amaechi travelled with the Arsenal squad to Baku for the Europa League final but failed to make the bench (Picture: Getty) Xavier Amaechi deletes all trace of Arsenal from Instagram after Unai Emery snublast_img read more

Private markets roundup: bfinance sees increase in Q1 manager searches

first_imgRecent research conducted by investment consultancy bfinance shows that rather than a slowdown in manager search activity, the first quarter of the year brought a rise in new mandates launched by the firm’s clients.This was particularly true in private markets, which represented 52% of all searches initiated in the quarter.The data is from a recently completed quarterly report assessing how different diversifying strategies have performed in Q1 2020, alongside equity, fixed income and private markets.Most equity searches in 2019 had a quality or defensive undertone and these styles were strongly rewarded in Q1: a composite of quality-focused active equity managers outperformed the MSCI World by almost 8% and also beat quality-tilted indices, the research showed. Private markets – which include private equity, real estate, infrastructure, private credit and others, accoding to bfinance – represented 43% of all searches initiated in the 12 months to 31 March 2020, and a record 52% of those initiated in Q1.“Indeed, Q1 has not only seen a surge in private markets activity but a surge in search activity overall,” bfinance said. The quarter saw 32% of the year’s new mandates, and the number of searches was up 17% against Q1 2019.“This activity falls into two main categories: investors proceeding with their previous plans across all asset classes despite the COVID-19 turmoil and investors seeking to position themselves appropriately for a new environment, although the latter is still at a very early stage and we have not yet seen activity based on terminations,” the firm said.It added: “Private markets strategies are a logical beneficiary of current conditions, given the historically outstanding results of post-crisis vintages and the lower sensitivity to market timing: the date of the commitment does not determine the date of entry, since – depending on the strategy – it can take months or years for money to be deployed.”Investors await valuation “capitulation” in private markets, with the buyer-seller expectation mismatch likely to take a further one or two quarters to resolve, bfinance disclosed.The study has found that it was a ”rough quarter for investment grade credit managers who struggled to beat their benchmarks due to high credit risk exposure”. Only 32% of European active managers beat the benchmark in March, as did 40% of US active managers.High yield bond managers, on the other hand, benefited from being conservatively positioned relative to their benchmarks, the consultancy found.The research also showed that multi asset strategies continue to dominate new mandates in the liquid alternatives sector, in part due to the trend towards “outcome-oriented” or “sector-agnostic” manager searches.Certain sectors within multi asset showed impressive resilience in Q1, with the global absolute return strategy (GARS) cohort down just 2.1%.Setter Capital survey shows managers expect a 18.5% decrease in fundraisingAdvisory firm Setter Capital has produced a special report that shows that fund managers expect fundraising in 2020 to decrease by 18.5% from the record level raised in 2019.Debt-related fund managers were the most optimistic, as they expect fundraising to increase by 5%, while venture managers felt it would decrease by 29.1%.The firm’s report summarizes the results of a 12-question survey completed by global managers of alternative investment funds conducted in mid-April 2020.“Given the recent market turbulence, we wanted to ascertain the likely effects the coronavirus pandemic will have on private market fund investors and managers,” the firm stated.Setter Capital asked general partners (GPs) the same questions that GPs, limited partners (LPs), and secondary buyers and sellers have asked the advisory firm directly relating to fundraising and capital calls under the current volatile climate.The firm received responses from 72 fund managers, who agreed to share their confidential views.According to the research, 94% of respondents thought “we are heading into a recession”, while only 1% were unsure and 4% thought a recession would be avoided.Results also showed that 69% of respondents expected public markets would retest March lows, sometime in the next six months, and respondents predicted that the public markets at the end of 2020, would be down 12.6% from the start of the year.Respondents on average felt capital calls would not change much in the coming nine months, as they estimated a 0.7% decrease versus the prior nine months.Debt-related fund managers were the exception, as they expected capital calls to increase by 20% on average, the study revealed.Over the next nine months, 35% of all capital calls would expected to be used to support existing portfolio holdings and the balance to make new investments, it showed.While this is the average across all strategies, venture capital (VC) fund managers expected 48.9% of capital calls would be used to support existing holdings, while buyout funds expected that figure to be 28.7%.The study also showed that respondents expect distributions to fall 34.3% over the three quarters, as compared to the preceding nine months.VC fund managers were most bearish, as they estimated distributions would drop by 43.5%, while debt-related fund managers felt they would only drop by 22.5%.Setter Capital also found that fund managers, across the board, expected an increased need to tap the secondary market over the next nine months, as an alternate source of financing and liquidity.To read the digital edition of IPE’s latest magazine click here.last_img read more

Golf: Woods to Miss All Four Majors

first_imgTiger Woods has pulled out of next week’s US PGA Championship as his absence from the golf tour goes on.The PGA of America announced on its website that Woods will be absent for the year’s final major, just as he was for the Masters, US Open and Open Championship.In a statement, the PGA of America said: ‘We have been in contact with Tiger’s agent, Mark Steinberg, and he informed us today that our four-time PGA champion will be unable to join us at Baltusrol Golf Club next week for the 98th PGA Championship.The tournament begins at Baltusrol in Springfield, New Jersey, on July 28. It marks the first time in his career that the 14-time major winner, who is continuing to recover from back surgery last autumn, has missed all four in the same season.Steinberg says the 40-year-old has decided against playing again this season, according to the Golf Channel.Steinberg detailed Woods’ fitness in an email quoted by golfchannel.com, saying: ‘Continuing to make progress, but simply not ready for PGA. Will not play in the ’15/’16 season and will continue to rehab and work hard to then assess when he starts play for the ’16/’17 season.’Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more