Electro-soul composer Manic Focus recently announced his fifth studio album, Minds Rising, due out on Friday, April 21, 2017. The second single, “Putting All Of My People On,” is finally here, featuring Chicago MC ProbCause. The new track comes after a “Stronger” release with the powerful vocals of Jennifer Hartswick (Trey Anastasio Band), the inimitable beats of Adam Deitch (Lettuce/Break Science), and the prolific production and innovative experimentation of Late Night Radio.“Putting All Of My People” exists nicely between the worlds of instrumental trap music and popular rap, sharing equal focus between Manic Focus’ production and ProbCause’s laser-focus lyricism. Stream is below:We can’t wait to see Manic Focus team up with Break Science for a very special “Manic Science” set in St. Augustine, FL at Fool’s Paradise! Listen to their most recent collaboration, released last week, right here. On March 31 & April 1, Lettuce is bringing Joe Russo’s Almost Dead, The Floozies, The Motet, The Main Squeeze, Organ Freeman, with Oteil Burbridge and Antwaun Stanley as artists-at-large! For more information, head to the Fool’s Paradise website.
Kurt Cobain would have turned 51 years old today. The Nirvana frontman’s legacy remains unparalleled, though he died at the young age of 27. Check out footage from some of Nirvana’s most iconic concerts, behind-the-scenes looks at the band goofing off and more.“Come As You Are,” MTV Unplugged in NYC, 1993“Rape Me” & “Lithium,” MTV Video Music Awards 1992“Drain You,” Live at Reading 1992A very stoned early Nirvana interview.Motorcycle interview, probably also very stoned.“Where Did You Sleep Last Night,” MTV Unplugged in NYC, 1993The time Kurt asked Axl Rose to be his daughter’s godfather.Nirvana giving zero fucks at this MTV interview.“Polly,” MTV Unplugged in NYC, 1993.“Rape Me,” Live in Paris, 1994.
Rossi added that a small number of funds may alter their benchmarks in order to ensure they were verifiable and appropriate for the new fee structure, but emphasised that there would be “minimal” changes.Fidelity runs roughly $170bn (€144.6bn) in equity assets at the end of June, the company said, all of which will become eligible for the new charge structure under the company’s plans. The group runs more than €264bn worldwide across all asset classes according to IPE’s Top 400 Asset Managers survey.In a statement, Fidelity said: “Where we deliver outperformance net of fees we will share in the upside and in the case that clients experience only benchmark level performance or below, they will see lower fee levels under this new model. The fee that clients will pay will sit within a range and will be subject to a pre-determined cap (maximum) and floor (minimum).” Fidelity International has introduced a variable management fee across its entire equity offering, which will see charges fall if funds underperform.The group is to introduce a new range of share classes for equity funds with a reduced base annual management charge and a “variable management fee”, also referred to as a “fulcrum fee”, that is “symmetrically linked” to fund performance.It will mean that the annual management fee will rise if a fund outperforms its benchmark index, but will fall if the fund underperforms.Any rise or fall would come irrespective of whether the fund posts a gain or loss in the period charged, global CIO for equities Dominic Rossi told reporters this morning. Therefore, if a fund lost money but beat its benchmark it would raise its fee, and if the fund made money but underperformed its index it would lower its fee. Fidelity’s proposed fulcrum fee equity charging structure. Source: Fidelity InternationalSubject to discussions with local regulators, the new share class is expected to launch in the first quarter of 2018, Fidelity International president Brian Conroy said. The exact level of fees, as well as the floor and ceiling, would be agreed with fund boards, distributors and regulators in the next few months, he said.Conroy claimed the new fee structure would “more closely align the performance of our business with the performance of our clients’ portfolios”. In addition, Fidelity has bucked the industry trend on investment research costs by introducing a ‘client pays’ method. However, the group insisted this would be more than compensated by the other fee changes.The group will use research payment accounts and commission sharing agreements to explicitly disclose the cost of investment research to clients, in compliance with MiFID II rules coming into force in January.Fidelity said it also intended to extend its range of passive funds to provide more options to clients “who simply want to drive down costs and do not want to pay for the active approach”.Note: This article has been updated to correct the equity and total assets under management figures.