Louis van Gaal, whose Manchester United F.C. side was often criciticised for being boring and lacking imagination, has attacked present manager Jose Mourinho’s team. The former manager said that he would rather watch rivals Manchester City in action.”I would rather watch City play than United,” Van Gaal was quoted as saying by the Mirror. “You need quality in a squad and it’s clear City have a better squad.”…And yet, right now, looking at United, I have to conclude Mourinho is not being criticised while it’s far more boring football.”Under Van Gaal, Manchester United finished fourth and fifth in the Premier League in 2014-15 and 2014-16 respectively along with an FA Cup triumph in 2016.Mourinho on the other hand, led Manchester United F.C. to the League Cup and Europa League in his first season in charge but the Portuguese has been accused of “parking the bus” in big games.”What United produce now is defensive football. I always played attacking football… They don’t do that now because Jose Mourinho plays so defensive.”Jose Mourinho Manchester City F.C. are on a record 14-game winning streak in the league while Manchester United, who finished sixth last season, lost 2-1 to their neighbours on Sunday to slip 11 points adrift of them in second position.Van Gaal, who was sacked the day after his FA Cup triumph, clarified that he had no personal issues with Mourinho but hit out at United CEO Ed Woodward, saying that the 46-year-old did not openly communicate with him.advertisement”I have more problems with the CEO, Ed Woodward. He never discussed anything with me — and you can talk about anything with me,” Van Gaal added.”With all my experience, I know the unwritten laws of football. A club has to prepare for the future. I can understand that and they should have approached me. Ed could talk to me but he did not.”(With inputs from Reuters)
zoom The dry bulk shipping industry has seen the launching of its first tailor-made freight futures exchange-traded product, the Breakwave Dry Bulk Shipping ETF (BDRY).The fund has been set up by Breakwave Advisors in partnership with ETF Managers Group (ETFMG).Exchange-traded funds (ETFs) are used for tracking of stocks, futures and derivatives for lower fees than actively-traded funds, making them an attractive alternative for individual investors.The fund aims to reduce the effects of rolling contracts by using a laddered strategy to buy contracts while letting existing positions expire and settle in cash, a joint press statement said. Furthermore, it is planned to progressively increase the fund’s position to the next calendar quarter three-month strip.As informed, the BDRY provides long exposure to the dry bulk shipping market through a portfolio of near-dated freight futures contracts on dry bulk indices.In practice, this means that investors get the exposure to dry bulk freight without the need for a futures trading account.“We are thrilled to bring such an innovative product to the market, allowing investors to participate directly in the exciting world of dry bulk shipping,” John Kartsonas, Founder and Managing Partner of Breakwave Advisors LLC, said.“Freight futures have historically exhibited strong cyclical returns, but for most investors it has been a very hard-to-access market. For the first time, through BDRY, a wide range of market participants can now directly access the dry bulk market using a simple, transparent, equity-like investment product.”The fund will hold freight futures with a weighted average of approximately three months to expiration, using a mix of one-to-six-month freight futures, based on the prevailing calendar schedule.Capesize contracts will be the key focus of the initial freight futures of the fund reaching 50 pct share, followed by Panamax contracts with 40 pct and Supramax contracts with 10 pct, rebalancing annually.The launching of the fund comes at a time when the dry bulk shipping is experiencing an upturn again following several years of underperformance.