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A collision between two boats in the waters off Long Island left one man dead and six other boaters injured, authorities said.

The fatal wreck occurred in the Freeport Creek near Cow Mead Park about 6:45 p.m., police said.

All seven injured passengers were taken to a nearby hospital, where a 25-year-old man was declared dead.

Police did not immediately release his identity.

Two of the six people involved in the crash suffered serious injuries, police said.

The cause of the collision is under investigation.

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LGBT‘Trans in Trumpland’ Should Feel Like the Past. It Doesn’t.

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We have reached more than 108,000 million of assets and this is, among others, thanks to Spanish investors

-How did the Spanish market behave in a year as difficult as it was in the past?

-Olivier Le Braz: 2020 was an impressive year in terms of returns and our managers have managed to be above the indices in almost all types of assets and, in addition, to be in the first ten of the universe of funds. 2020 has been a positive year, We have reached more than 108,000 million of assets and this thanks to Spanish investors, among others.

-Speaking of money markets, what has been your analysis and how have you managed it?

-OLB: It has been a peculiar year and in order to combat this double crisis, the health and economic crisis, the central banks and the states have mobilized like never before, injecting liquidity massively. In just a few months there was a brutal paradigm shift with ultra-liquidity. This has caused volatility in the markets and in this context of negative returns, we have managed to carry out strategies within money funds and fixed income funds in the very short term. We have managed to capture opportunities, with which traditional money funds such as Groupama Entreprises or Groupama Trésorerie have achieved very good results. We have reached more than € 22 billion under equity in our money market funds.

We noticed at the beginning of the year that there is a movement from pure or traditional funds towards very short-term fixed income funds to try to maximize this asset allocation in cash and lose as little as possible and even try to win. We have a good example with one of our funds called Groupama Ultra Short Term Bond.

-What is the main difference with the monetary funds managed by your team and the Groupama Ultra Short Term Bond (GUSTB)?

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-Alberto Terricabras: Unlike money market funds, limited by European regulations, GUSTB can exploit the bond slope for up to three years to benefit from the excess yield offered. The GUSTB investment universe is broader, allowing a higher return than that offered by money market funds, maintaining a liquidity and volatility close to them. This advantage is evident in times of ultra-accommodative monetary policy.

-What type of customer is this product aimed at?

-AT: It is a fund for clients looking for a support that offers a significantly higher expected return than money market funds, while maintaining a close but slightly higher volatility profile. We recommend an investment horizon in GUSTB of at least 6 months. Some of our clients allocate the stable portion of their cash to GUSTB to improve profitability, while others prefer money market funds as a holding solution during certain market phases.

-What distinguishes this fund from other funds in the same category, Ultra short-term fixed income?

-AT: We consider the GUSTB fund to be one of the most conservative in the category. We only invest in issuers considered investment grade and we only use simple products in our management, so we respect our low risk budget.

-Can it be an interesting fund in this context of low interest rates that seems to last over time?

-AT: Clearly. The ECB’s decision to refinance banks directly at very advantageous rates of -0.5 to 1% for more than 3 years has completely thrown the money market out of balance. Yields offered have fallen sharply on shorter maturities and fell below -0.50 of the normal low level of the ECB’s deposit facility. GUSTB is less affected than other money market funds by falling yields offered and therefore I can offer a higher expectation of remuneration, with volatility that remains low, especially in this context of support from central banks.

-Has the fund had any default in its portfolio in recent years? Crux of the ‘zombification’ of the economy?

-AT: The fund has not experienced any default. We continue to pay close attention to the selection of issuers in the portfolio, limiting ourselves to those that we consider to be of high credit quality. However, like all funds exposed to the credit market, we have seen bouts of volatility since the fund was created in 2015. The fund has recovered from these shocks within a few weeks, thus validating our short-term and conservative stance as well as our minimum investment horizon of 6 months. Of course, when risks arise, we do not hesitate to tactically reduce our exposures. At this time, and in times of crisis, the fund presents investment opportunities to outperform the index and deliver returns to our clients.

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