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With their new album due out on October 7th, beloved jam band Phish has shared a full stream of their new release through the NPR First Listen program. Titled Big Boat, the new release features thirteen original tracks and was produced by Bob Ezrin.Of the songs that made the album, there are a number of some familiar tunes like “Blaze On” and “No Men In No Man’s Land.” There are a few songs on the album that were debuted in 2016, like the Jon Fishman sung “Friends” and the Trey Anastasio ballad “Miss You.” There are also a few brand new cuts, like “I Always Wanted It This Way,” “Running Out Of Time,” “Home” and “More.” The album ends with the 13-minute “Petrichor,” which was originally written as an orchestral piece and ultimately scaled back for Phish, though the band has yet to play it live.Though some fans got to listen to the album last week when it leaked, the NPR Music stream is the first full-length official taste of this new release. Stream it below and let us know what you think!Big Boat Tracklisting1. Friends (3:42) (Fishman)2. Breath and Burning (4:20) (Anastasio)3. Home (6:26) (McConnell)4. Blaze On (4:20) (Anastasio/Marshall)5. Tide Turns (4:21) (Anastasio)6. Things People Do (1:54) (McConnell)7. Waking Up Dead (4:15) (Gordon/Murawski)8. Running out of Time (3:32) (Anastasio/Marshall)9. No Men in No Man’s Land (4:59) (Anastasio/Marshall)10. Miss You (7:01) (Anastasio)11. I Always Wanted It This Way (4:29) (McConnell)12. More (4:22) (Anastasio)13. Petrichor (13:22) (Anastasio)
He added that the alternatives portfolio would ultimately also consist of infrastructure (3%), commodities (2%) and private equity (2%).According to the secretary, the exact composition of the investment portfolio still needed to be fleshed out, and the new allocation would be implemented after the summer.He said that the outcome of the survey among its participants confirmed the higher risk profile that the board already had in mind, following a recent asset-liability management study (ALM).Although the “average participant” was slightly risk-averse, he or she nevertheless supported a modest increase of the scheme’s risk profile, the researchers concluded.They found that active participants favoured an investment mix with 40-65% of equity, whereas pensioners preferred a portfolio with 30-50% of stock.However, they noted that the interpretation of the results should also factor in the pension fund’s overall policy as well as its specific characteristics. As a consequence, the scheme should engage in additional communication about the chosen investment policy, they recommended.Pensioenfonds UWV has scheduled several debates with its participants about the survey’s conclusions for June.The study also made clear that a “large number” of participants were prepared to make additional contributions – 5.7% of their net income on average – for their pension, and that many participants expected to receive 77% of their net income in benefits at retirement.The survey was conducted by Hay Group in co-operation with Rotterdam-based Erasmus University. The conclusions were drawn from 5,600 responses. The pension fund has approximately 52,000 participants in total.At the end of April, the UWV scheme’s official policy funding level – the twelve-month average of the actual funding, as well as the criterion for rights cuts and indexation – stood at 102.3%.As the required minimum funding is 105%, the pension fund must submit a recovery plan to regulator De Nederlandsche Bank (DNB). The €7bn pension fund of UWV, the Dutch social security agency, said it would increase the risk profile of its investments, following an extensive survey into the risk appetite of its participants. The planned adjustment is to focus on reducing the current 43% strategic allocation to fixed income by 10 percentage points in favour of liquid assets, including equity, convertible bonds as well as residential mortgages, according to Frans Lemkes, the scheme’s secretary and chairman of its investment committee.At the same time, the strategic asset allocation to liquid assets is to be increased from 37% to 47% of the pension fund’s assets.The current strategic allocation to alternatives – the portfolio is still under construction – would remain at 17%, and include 10% of indirect property, said Lemkes.