Bassnectar Announces Mysterious Two Day Festival Event In Atlantic City

first_imgRenowned producer Bassnectar has revealed plans (well, some plans) for a brand new festival event in Atlantic City, NJ. Following the success of his event in Atlanta last year, Bassnectar has blocked off April 28th and 29th for a two day party featuring performances from ill.Gates, Caspa, Eprm, Nosaj Thing, Ninth Child and The Widdler.Interestingly enough, Bassnectar is keeping the location of the event hidden until “deep o’clock,” according to the announcement. The press release reads: “The theme is ‘creativity’ and we beckon you to join us in co-creating a one-of-a-kind experience – the intention is not to put on a “show” – but to gather from far and wide under one roof: a destination weekend event that is truly a family affair!” According to the artwork, there will not only be performances, but The Haven Sanctuary Space, Interactive Gift Altar, Creativity Zones, Art Participation Areas and more.You can read more about the show here, and see the artwork below.last_img read more

Mudslide shows Schenectady must heed warnings

first_imgCategories: Letters to the Editor, OpinionThe mudslide on Nott Terrace was a preventable occurrence. After the mudslide that destroyed the gas station, Catherine Greene, the owner of the house on Barney Street at the time, was interested to know if her property was at risk. She was advised of how to stabilize the property that included the hill that just collapsed. It was more than she could afford. When she approached the city for possible assistance, she was told there was nothing to worry about. The city continued to put up to 12-foot snowbanks in front of the house, despite a collapsing street. The city has had 20 years to avoid this mudslide. What other threats are being neglected in the city? Although Catherine is now passed away, residents and community leaders should still be listened to about needs in their communities.Mark TownsendLaconia, New HampshireThe writer is a former resident and worked with Catherine Greene in the Vale Community Organization. More from The Daily Gazette:EDITORIAL: Thruway tax unfair to working motoristsSchenectady department heads: Budget cutbacks would further stress already-stretched departmentsSchenectady man dies following Cutler Street dirt bike crashSchenectady, Saratoga casinos say reopening has gone well; revenue down 30%Schenectady High School senior class leaders look to salvage sense of normalcylast_img read more

Norwegian oil fund return of 15.9% driven by equities, real estate holdings

first_imgThe fund now invests in 82 different countries, an increase of 10 from 2012.At the end of the year, its asset allocation saw shifts compared with 2012, as it increased equity holdings by 0.5 percentage points to 61.7%, while reducing fixed income by 0.8 percentage points to 37.3%.It continued its push to having a 5% real estate allocation at the expense of fixed income, with its allocation hitting 1% from 0.7%.Its equity portfolio saw returns of more than 25%, compared with 18% in 2012.Returns came on the back of strong gains in developed markets, as its European investments returned 29%, Japanese 30% and North America 34%.The fund’s equity allocations to the markets at the end of 2013 were 48%, 7% and 32%, respectively.Despite the fund’s previous stance on shifting allocations away from Europe towards emerging markets, its 9.7% equity allocation only returned 1.1% overall.It added six additional markets to its equity portfolio, with investments in Kuwait, Oman, Tunisia, Vietnam, Slovakia and Pakistan.Within equity performance, the fund saw its best returns come from its telecommunications holdings (38%), and said mining companies were its worst.Its 6.4% equity allocation to basic materials only returned 5.1%.The fund was also slightly let down by its fixed income holdings, which returned 0.1% over the year.It saw negative returns for its sovereign bonds portfolios, led by a -2.1% on its 22% fixed income allocation to US Treasuries.Its private sector investments offset the negative performance, led by its securitised debt allocations, which returned 7.7% and accounted for 10.5% of fixed income allocations.The fund said it was continuing its general, and fixed income, shift to emerging markets, and allocated an additional 2.2 percentage points to the asset class compared with 2012, with the addition of Colombia, The Philippines and Hungary.This came directly from divestment in developed markets, mainly Austria and France. However, fixed income allocations to developed economies was still 78.8%.Within its growing real estate allocations, the fund saw returns hit 11.8%, as it continued its push out of European markets.The fund said it expanded its investment into US real estate, which it started at the beginning of last year.US holdings now account for 18.7% of real estate allocations, all done in 2013.Yngve Slyngstad, chief executive at Norges Bank Investment Management, which manages the fund, said real estate investments would grow substantially in coming years.“The year’s results were driven by equity investments, despite various sources of uncertainty in the global economy, stock markets made broad gains in 2013,” he added. The Norwegian Government Pension Fund Global saw returns of 15.9% in 2013 as equity investments outperformed benchmarks, helping the fund break the NOK5trn (€600bn) mark.In what the fund described as a “good year”, its value rose by NOK1.2trn, up to NOK5trn, 56% of which came from investment returns.The remainder of the fund’s increase came through capital inflows from the government and returns on currency conversion into NOK.It received NOK239bn from the Norwegian government in inflows, investing 8% into emerging markets, 8% into real estate and around 62% into equities.last_img read more