Jason Hann, Steve Molitz Lead All-Star Joe Marcinek Band Lineup [Video/Full Audio]

first_imgSetlist: Joe Marcinek Band at Country Club BBQ, Peoria, IL – 5/20/2016Set I: George, Scarlet Begonias, Cissy Strut, I Wish, Metropolis > Space Funk Improv 1 > Billie Jean > Space Funk Improv 2 > BoogeymanSet II: Quinn The Eskimo> Dark Improv > Quinn The Eskimo, Launchpad >Space Improv> Funk Dance Party Improv, Master Blaster, Shakedown Street > Wanna Be Startin Something > Bass Breakdown>Don’t Stop Til Ya Get Enough >Shakedown Street*, Jan Jan, Living For The CityE: Funky Bitch* Featuring Roy PonceVideoJVC 1080i HDAudio Source 1 SBD Matrix MixSource 2 Crowd Mic MatrixSound and Lighting provided byGW Sound and Lighting Group Pekin, ILJohnny Gasparac   FOHBrian Wallinger       MonitorsCody Heffen            Lights When the evening began, Jason Hann got behind the drum kit, Steve Molitz took his normal perch behind the keyboards, and Joe Marcinek struck up the first notes of the evening. Once they got going, the band started to take flight. With Pennal Johnson on bass, and Dee Mill, the guitarist and vocalist from the Peoria based band, Art of ILL Fusion, the performance last Friday, May 20th at the Country Club BBQ was smoking.With about every space indoor and outdoor venue occupied, the vibe in the club was high from start to finish, and the capacity crowd was eating it up. The band played two electrifying sets, which included a range of funky covers from The Meters , Stevie Wonder, Michael Jackson, The Grateful Dead, Bob Dylan, and KC and The Sunshine Band, and Phish. They also took on high energy versions of Particle’s “Launchpad” and “Metropolis,” as well as two new Marcinek originals, “George” and “Slink,” which will be on Marcinek’s new album.The improv sections of the evening went far into space, and were maxed to their potential by Marcinek and Mill’s soaring guitar work, Molitz’s mastery of his signature jam-tronic sound, and the ever present, funktifiying low end being held down by Pennal Johnson. This show really seemed to catch the vibe of the “sit in” or the super jam and the fans in attendance were all dancing and weaving their way through the musical madness.Highlights of the night included Hann busting out the vocals on KC’s “Boogeyman” and Stevie Wonder’s “Masterblaster”, multiple bass solo break downs, and Marcinek and Mill playing guitar together as if they’d been doing so for years. The extra special guest of the evening was Peoria guitar virtuoso, Roy Ponce from the band Brainchild, who joined the band for a absolutely amazing cover of “Jan Jan” by Grant Green. After the show, the band members expressed their thorough enjoyment for the night of music, and are considering making it a pre-Summer Camp annual tradition. Let’s hope they do! This group needs to play more shows soon.Check out videos, full audio, setlists and more below!last_img read more

19 Classic Prince Albums Are Now Available On Major Streaming Services [Listen]

first_img[Photo by Chad Anderson at MSG] It’s finally happened. Less than a year after Prince’s death, a majority of his albums from 1978 through 1996 have appeared on major streaming services, including Spotify, Apple Music, Pandora, Amazon Prime, and more. The list includes classics like Purple Rain, Sign ‘O’ The Times, 1999, Dirty Mind and so many more, now available at our listening pleasure.In his lifetime, Prince openly spoke against streaming his music through these types of services, saying that it devalued an artist’s music. It’s likely that if Prince were still alive today, this arrangement would not be the case. However, his estate owes a significant amount of money, and have reached a licensing agreement with Universal Music Group, thus giving the streaming outlets an opportunity to share his music. Additionally, no will for Prince was ever recovered.These 19 albums are just the tip of the iceberg, if we’re to believe the reports of this deal. Additional albums, unreleased music, and more will be released, as well as deluxe editions of Prince’s classic albums. The first such release will be a deluxe reboot of Purple Rain, due out June 9th. Warner Bros. CEO Cameron Strang spoke about the new release, saying that it will include “two incredible albums of previously unreleased Prince music and two complete concert films from the Paisley Park vault.”In the meantime, we have 19 full albums of Prince music to enjoy! Stream some of them below, and head to Prince’s artist page on Spotify to see the full selection.last_img read more

Trey Anastasio Band Closes Tour In Missoula [Photos]

first_imgAfter a sensational evening surrounded by blossoming botanicals in Salt Lake City, Trey Anastasio and his eight compadres in Trey Anastasio Band kept on trucking through to Missoula, Montana for their debut performance in the beautiful Big Sky country. The performance marked the final show of a mind-bending nationwide tour in support of Trey Anastasio Band’s latest album Paper Wheels. It’s clear that Trey Anastasio Band has been excited as they geared up for this final performance, with their two prior performances in Salt Lake and at Colorado’s Red Rocks Amphitheatre foreshadowing this huge tour closer at Missoula, Montana’s Big Sky Brewery.Trey Anastasio Band Jibboos Through Salt Lake City [Videos]A larger than life “Cayman Review” got the anxious crowd on the tips of their toes out of the gates, and continued with TAB originals “Mozambique,” “Alive Again,” “Magilla,” and a blazing hot rendition of “Sand”. From Red Rocks onward, the band noticeably upped the ante, specifically with the synchronicity of James Casey, Jennifer Hartswick, and Natalie Cressman on horns. Casey’s focused and harnessed energy was shining brighter than a disco ball and ricocheted to the crowd and back between every monstrous solo, especially with his solidity in “Burlap Sack and Pumps” throughout the entirety of the tour.Trey Anastasio Band Makes Triumphant Return To Red Rocks After Nearly 12 Years [Videos]It was evident that the panoramic Western Sky was reflective to the energy of the band, as mentioned by Anastasio at all three Rocky Mountain appearances. The biggest treat of the first set was “The Land of Nod,” making only its third appearance since Trey Anastasio’s 2015 fall tour. Natalie Cressman knocked Portugal the Man’s “Feel it Still” out of the park before the band brought their first set to a close with the fan favorite “Money Love and Change.”The second set opened with Trey Anastasio Band’s classic “Sweet Dreams Melinda,” requested by a front-row fan eager to hear the staple that had been sound checked at both Red Rocks and Salt Lake City but never ended up making an appearance either night. The band then headed into “Corona,” “Night Speaks to a Woman,” “Plasma,” “Shine,” and “Ocelot,” followed by Paper Wheel’s “Bounce,” with the crowd symbiotically bouncing in unison. To wrap up a spectacular second set, TAB laid down the instruments for the a capella “The Parting Glass,” mirroring a fine-wine blossoming into its richest potential. The band hit a grand slam with “First Tube,” and the second set of the show came to a close.The band returned for “Come Together,” a brand new TAB song debuted on 4/20 in Charlotte, encapsulating the love and unity that transpired throughout the entirety of this Paper Wheels tour. In closing, hands down MVP goes to “Gotta Jibbo,” where night after night, Trey Anastasio Band creatively brought new life to the jam. After taking a bow to ring in the end of the tour, Trey immediately ran to two youngsters that were on the rail attending their first show and handed them each a guitar pick.You can check out photos from Saturday night’s tour closer below, courtesy of Brad Hodge.Setlist: Trey Anastasio Band | Big Sky Brewery | Missoula, MT | 6/3/2017I: Cayman Review, Mozambique, Pigtail, Alive Again, Soul Rebel, Magilla, Sand, Feel it Still, The Land of Nod, Curlews Call, Dark and Down, Money Love and ChangeII: Sweet Dreams Melinda, Corona, Night Speaks to a Woman, Plasma, Shine, Ocelot, Burlap Sack and Pumps, Bounce, Valentine, Clint Eastwood, The Parting Glass, First TubeE: Come Together, Gotta JibbooTrey Anastasio Band | Big Sky Brewery | 6/3/17 | Photos by Brad Hodge Load remaining imageslast_img read more

Students help gain votes

first_imgOn Nov. 2, voters in the 2nd District of Indiana will go to the polls to elect current representative, Democrat Joe Donnelly, or Republican Jackie Walorski to be their congressional representative. Over the next few weeks leading up to Election Day, several Notre Dame students who are interning with either of the congressional campaigns may approach Indiana residents and try to sway them to one candidate or another. One such intern for Donnelly, junior Conor Bolich, said his Notre Dame education armed him with skills that have proven critical in his time working with the campaign. “I feel very prepared working on the campaign,” he said. “Notre Dame has done a really good job with communicating and networking skills that are very important in politics.” Senior Eunice Ikene, also of the Donnelly campaign, said her classroom experiences have challenged her to sharpen her political knowledge. This in turn benefited her work with the campaign. “Notre Dame has helped with being up to date, such as when a voter asks about health care and small businesses,” she said. “It is not specifically in the curriculum, but when it comes up in class you want to know what is going on.” Senior Charlie Nejedly is working with Walorski’s campaign. He said he spends his time interacting with voters over the telephone and in person. “I do phone calls for Jackie Walorski and more broadly the Indiana Republican Party, and I go door to door for Jackie around South Bend and Mishawaka,” he said. Ikene and Bolich said they spend most of their time making phone calls and canvassing as well. Bolich said these pursuits are critical in understanding what voters expect from their candidates. “Just going out and listening to what voters have to say has been so important. Canvassing allows you to understand what the voters have to say,” he said. Ikene said communication is crucial in finding out what voters have to say about the campaigns as well. “One of my primary duties is making calls to voters who have leaned Democrat,” she said. “You can ask if there are any issues they have and a lot of the time voters complain about negative ads.” Ikene said her interest in these aspects of campaigning were the driving force behind her decision to work on a congressional campaign this fall. “I took a class last semester on campaign strategy that focused on polarization and negative ads,” she said. “I wanted to see how it applied to a smaller campaign in north Indiana.” Nejedly said previous political experience and his interest in the democratic process sparked his inspiration for working on the Walorski campaign. “I worked at a political action committee this summer and I thought that getting campaign experience in the field would be fun,” he said. “Those who volunteer represent the hard work of democracy. Things like getting out the vote, regular people might not do, but it is important for the democratic process.” Ikene said one thing that surprised her in her time with the campaign was the lack of basic political knowledge in some voters. “I find it interesting that some people have no idea what is going on. These are people who are registered voters, who do not even know the opposing candidate,” she said. “The fact that you don’t know who is running, that is odd.” Ikene also said that for the most part, voters she has personally interacted with have been receptive and polite. However, she said she had one bad experience with a man at one household in Granger. “This guy took forever to get to the door. When he did, he didn’t even look at me. His dog was yapping and I was scared that it was going to attack me,” she said. “After I was done, he told me he was Republican and to not waste his time.” Nejedly said working on this election has reminded him of the responsibility Indiana voters are tasked with this November. “Just staying updated on these midterm elections in general is important for our economy especially in a district like ours. What happens now could mean a job or not for some people,” he said. “It forces me to stay updated on the current events.”last_img read more

Agriculture.

first_imgJan. 5: Family Debt: FarmCrisis Hits Home. The farm crisis is taking its toll on farm family finances.Feb. 9: ‘Great Chill’ aBlessing to Blueberry, Peach Growers. Donnie Morris doesn’t describe the frigidmidwinter weather the way many Georgians would. “It’s just wonderful,” he says.March 14: Tomato Disease HitsGeorgia Fields. A tomato disease that ravaged crops in the Caribbean and Florida hasarrived in Georgia. Growers here wish it had stayed south of the border.March 28: Fuel Prices RunningUp Farm Bills. If prices continue to rise, University of Georgia experts say farm fuelcosts could top $200 million this year.April 26: Prices Down as OnionHarvest Hits High Gear. Most Vidalia onion varieties are heading to the markets withpalate-pleasing quality, say University of Georgia experts.May 5: Georgia Farmers HaveBumper Crop of Berries. Cool, dry weather early in the season helped you-pickstrawberry growers develop a big crop. Warm, sunny days now bring out pickers.May 9: Green Industry GoingStrong in Midst of Drought. On the heels of a dry April planting season, there is onebright spot in the economic picture for agriculture: the “green industry.”June 19: Georgia MelonGrowers Face Gloomy Fourth. For Georgia farmers who have struggled to grow melons inthe midst of a hard, lingering drought, nature has added insult to injury.June 27: Crop Insurance ActGood for Georgia Farmers. Georgia farmers struggling through another drought can takeheart that a new law will help protect them against future crop failures.July 25: Georgia FarmersHaving to Abandon Crops. Many farmers have decided to give up on some of their cropsbecause of the drought. Now they must decide what to do next.Aug. 16: Coverdell AgScholarship Planned for UGA. Georgia agricultural leaders are starting a University ofGeorgia scholarship honoring the late Sen. Paul Coverdell.Aug. 23: UGA Focuses onEmerging Crops, Technologies. A new effort to help the state’s farmers began this weekwith the UGA’s Emerging Crop and Technologies Initiative.Sept. 21: Georgia Vineyards:Fine Wine in ‘Shine Mountains. People have always come to Dahlonega looking for abrighter future. In 1828, it was the gold rush. Today, it’s more of a grape gush.Sept. 25: UGA Research:Cotton Farmers Losing Money. Georgia farmers who delay picking their cotton could losemoney by sacrificing the crop’s quality, say UGA cotton experts.Sept. 27: UGA Opens PoultryResearch Center Phase 2. A $5 million expansion of the UGA Poultry Research Center hasgreat potential to help the state’s $2.7 billion poultry industry.Oct. 3: UGA, CubanScientists Trade Agricultural Knowledge. It’s a straight shot south from Atlanta toHavana. And UGA scientists are ready to open doors to better relations.Oct. 17: Peanut Crop FaresWell, Cotton Struggles. Georgia’s peanut crop will be better than expected, but statecotton yields and quality struggle through another discouraging year.Oct. 23: UGA DelegationMakes Historic Trip to North Korea. University of Georgia scientists this week becamethe first academic delegation to visit North Korea since the Korean War.Oct. 23: UGA Ag Hall of FameInducts Three. Earl Cheek of Perry, Tommy Irvin of Mt. Airy and Josiah Phelps of FortValley have been inducted into the Georgia Agricultural Hall of Fame.Oct. 25: Peanut Prices Lowon Farm, Steady in Store. Farmers are getting low paychecks when they take some oftheir peanuts to the market. However, shoppers will see no change in prices.Oct. 27: Congress Marks$2.57 Million for Research. Congress has allotted more than $2.5 million for researchprojects at the University of Georgia.Nov. 8: Gift of LandBecomes Key to Irrigation Research. At 80 years old, C.M. Stripling gave up 133 acresof his family land, strictly with an eye to the future.Nov. 8: Farmer, Cows LikeGeorgia ‘Dairy-Go-Round’. Dub it a dairy-go-round, or a cowasel. Whatever you call it,Tim Cabaniss likes what his carousel for cows does for his dairy.Nov. 15: Georgia Pecan CropSmall, but Prices Stable. Georgia pecan growers expect a smallish crop this year. Buta supply from last season should help meet demand for the holidays.Nov. 20: Peanut HarvestBetter than Expected. Considering drought has dominated the state for three straightyears, the crop this season has turned into a pleasant surprise.Nov. 29: Study: OilseedGrowers Can Raise Profits. A study released this week shows that Georgia farmers whogrow oilseeds can make their crops more valuable.Nov. 30: North KoreanScientists May Visit UGA. A University of Georgia agricultural delegation hopes tohost North Korean scientists this spring.Dec. 12: Sweet Crop GetsReady for Winter. Vidalia onion farmers are planting the last of their fields andchecking them twice.Dec. 20: 2001 Outlook Upbeatfor Georgia Farmers. Economists say better days could be ahead for the state’sagriculture. Agriculture Weather Environment Science Foodslast_img read more

UGA garden

first_imgEating locally grown food is now easier than ever for students at the University of Georgia. With the new campus community garden, students can harvest their own vegetables while learning gardening techniques.UGArden, the UGA student group responsible for the garden on South Milledge Avenue in Athens, Ga., began harvesting vegetables in June. On Aug. 22, they held a fall kick-off featuring their produce. Students dined on potluck dishes they made with locally grown ingredients.Participants in the group range from the experienced to those who have never planted a seed in the ground. With the help of UGA professors and the Athens Area Master Gardeners association, students learn how to properly tend a sustainable garden.“Having a community garden is awesome,” said UGA student Ellen Bogswell. “We work for a couple hours and take home what we harvested. I haven’t had to buy veggies in weeks.”Doug Bailey, head of the UGA horticulture department, believes the garden is important because it not only teaches good gardening practices but also social responsibility.Students get to experience all the benefits of a local garden that provides fresh produce, he said.A percentage of each harvest also goes to a local food bank. According to UGA student Jenny Brickman, co-president of UGArden, the group has so far donated 500 pounds of produce to the Food Bank of Northeast Georgia.The students also noted that the produce tastes better.“We live in Georgia, yet the vast majority of our peaches come from California,” said UGA junior Kate Klein. “Really, I think eating locally is important due to the transportation of food. Environmental degradation is a result of the transportation. Eating in season is also really important.”Student interest in local food is growing, and this eating local bug is found at other universities in Georgia as well.Emory University has eight small food gardens on campus maintained by faculty, staff, students and community neighbors. Brickman says they are a daily reminder to students about local food and where it comes from.According to an Emory website, Emory’s goal is for the cafeterias and hospitals to use 75 percent of local or sustainably grown food by 2015.Locally grown food is becoming increasing popular and is important for a number of reasons. Craig Page, a UGA master’s student and executive director of P.L.A.C.E (Promoting Agriculture and Cultural Experience), says local food is important environmentally – such as how and where it was grown and economically – because the profit stays in the community.On a smaller scale, buying local food helps keep local farms in business.“It’s also great health wise because it is fresh. It brings people together and allows them to connect, and it allows for food security,” Page said. “Just like with the egg recall, in case something happens to a delivery, the product is available locally.”University food gardens are not the only way to get involved and support sustainability. According to Brickman, gardening at home, building community gardens and buying from local farmers’ markets are important in the local food effort.last_img read more

Pre-Tech Precision Machining Hires New Human Resource Administrator

first_imgPre-Tech Precision Machining Hires New Human Resource AdministratorAugust 30, 2006 Williston, VT Pre-Tech Precision Machining, is pleased to announce the addition of Heather E. Streeter as Human Resource Administrator. Ms. Streeter was most recently the Branch Manager at Manpower in South Burlington and previously worked for the Department of Labor (formerly the Department of Employment & Training) as an Employer Resource Consultant. Ms. Streeter was also the Executive Director of the St. Albans Area Chamber of Commerce. She has served on numerous committees and boards and is a member of both the Franklin County and Burlington Business & Professional Women. In 2002, Ms. Streeter received the Presidents Alumni Leadership Award from Champlain College, Burlington, VT.Pre-Tech Precision Machining, an employee owned company, manufactures precision-machined metal and plastic components, serving the biomedical, computer and aerospace industries. Pre-Techs philosophy is straightforward and direct: We develop strong, two-way business relationships with our customers and we treat each customer as a partner. We seek to understand business needs, budgets, and schedules, and then we produce precisely manufactured components that meet and exceed their specifications. We manufacture quality parts on time and at a reasonable price. Our business philosophy has served us well since we opened our doors in 1985. Through those years, we have found that doing business with a customer should represent a partnership, a philosophy that has played a major role in building a solid business relationship with large and small companies alike. Our customers are loyal and we hold them to our highest regard.#30#last_img read more

Frank Lampard backs Chelsea stars to deliver Champions League football with top four finish

first_imgFrank Lampard backs Chelsea stars to deliver Champions League football with top four finish Coral BarryFriday 27 Sep 2019 1:55 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link5.9kShares Advertisement Lampard isn’t worried about Chelsea’s top four credentials (Picture: Getty)Frank Lampard has predicted Chelsea will finish in the top four of the Premier League this season despite a difficult start to their campaign.Chelsea are yet to win at home under Lampard and sit in eleventh place in the table, three points off the final Champions League spot.With Arsenal, Tottenham and Manchester United all vying for a place in the Champions League, Lampard was asked if he saw any reason why Chelsea wouldn’t finish in the top four.He replied: ‘Of course not. I think from the way that we have played and there are lots of moments where we have showed confidence. We’ll have to push, because of all these teams.’ADVERTISEMENT Chelsea are yet to win at home in the Premier League under Lampard (Picture: Getty)Chelsea have won just twice in the league this season, against relegation battlers Wolves and Norwich, and appear to be feeling the effects of being unable to sign any new players during the summer.AdvertisementAdvertisementLampard has placed his faith in Chelsea’s young stars, with academy graduates Tammy Abraham (7) and Mason Mount (3) currently leading the club’s goalscoring charts. Chelsea v Brighton: Frank Lampard press conferenceTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 12:28FullscreenChelsea v Brighton: Frank Lampard press conferencehttps://metro.co.uk/video/chelsea-v-brighton-frank-lampard-press-conference-2014878/This is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.center_img More: 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 CityChelsea have already suffered defeats to league leaders Liverpool and top four rivals United, but Lampard insists his targets for the Blues have not changed.‘No [my targets] haven’t, and it’s always hard to set out your ambitions at the start [of the season]. Lampard is backing his young stars to deliver Champions League football (Picture: Getty)‘It might be two months, but we haven’t played many games. That’s the way with a stop start season with the international games.‘There’s a long way to go. Of course there’s a gap between us and Liverpool and City, which many people predicted.‘It’s come earlier than we expected, but look at the other teams around us. Arsenal, Man Utd – we understand we’re in and amongst it.‘Having seen the young players, I’m as confident as I was before. We want to be competitive and get into the top four.’MORE: Chelsea made ‘unofficial’ move for Mauricio Pochettino before appointing Frank LampardMore: FootballBruno Fernandes responds to Man Utd bust-up rumours with Ole Gunnar SolskjaerNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira moves Comment Advertisementlast_img read more

Inner city renovator generates buzz as it hits market for first time

first_img169 Empress Terrace Bardon Qld 4065More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor9 hours agoIn the first hour of it going online, his office was already fielding queries, he said, though potential buyers have almost four weeks to get their finances in order. The home was not set to go to auction until 6.30pm on Thursday February 23Zoned CR1 or character residential, the property was ripe for someone looking for space to build a new home just minutes from the city. 169 Empress Terrace Bardon Qld 4065AN inner city renovator on the market for the first time has generated a buzz as it can also be set for demolition.Ray White Paddington agent Mathew Abboud was marketing 169 Empress Terrace, Bardon, as a post-war property that could be set to “renovate or detonation”. 169 Empress Terrace Bardon Qld 4065 169 Empress Terrace Bardon Qld 4065“What I find is at the entry level market, people are happy to add value via renovation. It suits entry level buyers who want to get into the inner city, it suits a builder, or investor because it is rentable, it could even be good for mum and dad trying to help their child get into the market.”The current home, which is part of a deceased estate, sits on an elevated 465sq m block, and currently has two bedrooms, one bath and one car space. 169 Empress Terrace Bardon Qld 4065“Most of the land around there is 400 to 500sq m,” Mr Abboud said, “though you do pick up some gems above that. This one is on the higher end of that average, close to everything, close to Paddington’s cafes and inner city lifestyle.”With current decor circa 50s to 60s, the home could also appeal to a buyer looking for a rentable property.last_img read more

‘Unholy’ situation forcing institutional investors to stick with equities – SSgA

first_imgNiall O’Leary, head of portfolio solutions at SSgA, said investors continued to be overweight and were looking over their shoulders for the market correction.“[Investors are] uncomfortable with their position but cannot find an alternative,” he said.“The majority expect a drawdown, so they are overweight, they are adding and they are nervous.“The pressure to meeting funding standards and investment objectives, and the lack of opportunities elsewhere, has created an unholy challenge.”However, 55% suggested equity markets continued to offer good value.The research, which canvassed 420 global institutional investors across 13 countries, showed that, despite expectations of a downturn in equity markets, 91% said their portfolios were able to weather a major market correction.Two-thirds thought diversification alone was enough to protect portfolios.Despite investors’ confidence in their own portfolios’ ability to withstand a correction, 45% of investors said other institutional investors were unprepared for volatility.Only 8% said recent market volatility had had a significant impact on their strategies and were looking to implement additional protections, as two-fifths said short-term volatility was the new norm and should be expected.Around 85% also implemented downside-protection strategies, with 53% choosing dynamic asset allocation – a percentage that rose to 63% when looking specifically at Europe.Investors were also looking at low-volatility and volatility-targeting strategies as downside protection.However, 54% of investors said the timing of downside strategies remained the biggest challenge to implementation due to concerns over losing too much upside from bull equity markets.“There is an expectation of downside strategies that you have a smoother journey but a lower long-term return, so the insurance you pay is never fully recouped on the upside of the market,” O’Leary said.He said investors also had concerns about the risk of downside strategies failing to perform and the cost of implementation.One-third of investors said they lacked sufficient knowledge to be comfortable with the strategies.“The risk of these downside strategies not fully working does exist and is more pronounced in some strategies over others, which is why investors haven’t just chosen one approach,” O’Leary said. Institutional investors are continuing to push into developed and emerging market equities due to funding pressure despite strong expectations of a market correction, research has shown.The data from State Street Global Advisors (SSgA) showed 63% of global institutional investors increased allocations to developed market equities despite 60% expecting a negative market correction of 10-20%.Some 44% said the market was overvalued with a correction overdue, but two-thirds said funding pressures were forcing increased allocations.More than 50% said they would like to reduce equity exposure if an alternative capable of producing a similar return were available, but funding requirements (53%) and pressure to meet objectives (58%) meant equities continued to be increased and used.last_img read more