On performance persistence in emerging markets: Empirical evidence from Asia-Pacific

The purpose of this study is to investigate the performance persistence of international mutual funds, employing a data sample which includes 2,168 European mutual funds investing in Asia-Pacific region; Japan excluded. Also, a number of performance measures is tested and compared, and especially, this study tries to find out whether iterative Bayesian procedure can be used to provide more accurate predictions on future performance. Finally, this study examines whether the cross-section of mutual fund returns can be explained with simple accounting variables and market risk. To exclude the effect of the Asian currency crisis in 1997, the studied time period includes years from 1999 to 2007. The overall results showed significant performance persistence for repeating winners when performance was tested with contingency tables. Also the annualized alpha spreads between the top and bottom portfolios were more than ten percent at their highest. Nevertheless, the results do not confirm the improved prediction accuracy of the Bayesian alphas.

American Indians of the Southwest

Recorded in Indian communities by Willard Rhodes, with the cooperation of the United States Office of Indian Affairs.

Volatile compounds from Rosmarinus officinalis L. and Baccharis dracunculifolia DC. Growing in southeast coast of Brazil

Chemical composition of leaf volatiles of Rosmarinus officinalis and Baccharis dracunculifolia cultured in Southeast of Brazil has been characterized by GC/MS after simultaneous distillation-extraction. The main components in volatiles of these species showed in common α-pinene, myrcene, 1,8 cineole and camphor. Camphor was the major component among volatiles of B. dracunculifolia and R. officinalis with concentrations exceeding 25%. B. dracunculifolia volatiles possessed more sesquiterpenes (21.4%) than R. officinalis (16.7%), such as caryophyllene (1.9%) and α-humulene (0.4%). Lower concentrations of nerolidol and spathulenol were achieved in volatiles of B. dracunculifolia. Considering both species, there was a predominance of monoterpenes.

Resultados científicos do cruzeiro do "Baependi" e do "Vega" à Ilha da Trindade: o gênero Firoloida, Prosobranchia Heteropoda

From the Jaseur Bank, off the Brazilian coast at 20º 30' S - 35º 50' W, were collected a few specimens of one of the less known species of the Heteropoda: Firoloida lesueuri (d'Orbigny). A detailed anatomical description follows aiming at the elucidation of some obscure points in the litterature on the subject and at showing the identity of most of the previously described "species" of the genus Firoloida. Special care was taken with the study of the nervous system of which most of the descriptions found were discordant. The author arrived at the conclusion that the pleural ganglia are either missing of fused to the cerebral ganglia, that the supraintestinal ganglion (left parietal ganglion) is present in the posterior region and is close to the subintestinal or right parietal ganglion, being both located near the rear end of the body. The innervations are described and discussed as well as the fusion of extensive tracts of the connectives. The present material is shown to be identical to F. kowalewskyi, well described by Vayssière and Tesch; F. desmaresti (Lesueur 1817) is shown to be undistinguishable from F. blainvilleana and F. gracilis. F. aculeata and F. gaimardi are here considered as "nomina nuda". F. liguriae Issel 1907 is admitted as separate species in spite of its insufficient description and, finally, F. vigilans (Troschel 1855), unsatisfactorily described from only one specimen is perhaps a valid species. A table is presented to show the slight differences between the 4 species which are undoubtedly very similar. F. desmaresti is found only in the Atlantic north of the line and a few points south and close to it as well as in dependent seas, while F. lesueuri is common to the south Atlantic, south Indie and south Pacific oceans, extending north only up to the Azores Islands. F. liguriae is from the south western Atlantic. ?F. vigilans would be an endemic species from Messina (Mediterranean).

Landscape structure in the northern coast of Paraná state, a hotspot for the brazilian Atlantic Forest conservation

The "Serra do Mar" region comprises the largest remnant of the Brazilian Atlantic Forest. The coast of the Paraná State is part of the core area of the "Serra do Mar" corridor and where actions for biodiversity conservation must be planned. In this study we aimed at characterizing the landscape structure in the APA-Guaraqueçaba, the largest protected area in this region, in order to assist environmental policies of this region. Based on a supervised classification of a mosaic of LANDSAT-5-TM satellite images (from March 2009), we developed a map (1:75,000 scale) with seven classes of land use and land cover and analyzed the relative quantities of forests and modified areas in slopes and lowlands. The APA-Guaraqueçaba is comprised mainly by the Dense Ombrophilous Forest (68.6% of total area) and secondary forests (9.1%), indicating a forested landscape matrix; anthropogenic and bare soil areas (0.8%) and the Pasture/Grasslands class (4.2%) were less representative. Slopes were less fragmented and more preserved (96.3% of Dense Ombrophilous Forest and secondary forest) than lowlands (71.3%), suggesting that restoration initiatives in the lowlands must be stimulated in this region. We concluded that most of the region sustains well-conserved ecosystems, highlighting the importance of Paraná northern coast for the biodiversity maintenance of the Atlantic Forest.

Risk factors and presence of antibodies to Toxoplasma gondii in dogs from the coast of São Paulo State, Brazil

Toxoplasmosis is caused by the obligate intracellular protozoan parasite Toxoplasma gondii and affects warm-blooded vertebrates, including pets and man. Dogs are epidemio-logically important since they act as sentinels for the infection in humans. The present study aimed to determine the presence of antibodies to T. gondii in 205 serum samples from dogs in Ubatuba, Sao Paulo state, Brazil, through indirect immunofluorescence reaction (IFAT), as well as the risk factors related to toxoplasmosis in the animals such as breed, age, sex, access to outdoors, homemade food ingestion, access to untreated water, and contact with rodents. Toxoplasmosis-positive samples accounted for 52/205 (25.4%), with titers ranging from 16 to 256. The serological results presented significant association (P<0.05) with homemade food ingestion (45/118; 38.1%; CI95% 29.9%-47.2%) (OR=7.0; CI95% 3.0-16.6), and with access to outdoors where those that do not have access to the street were prevalent (37/121; 30.6%; CI95% 23.1%-39.3%) (OR=0.5; CI95% 0.2-1.0). These results show that toxoplasmosis in this region is related to problems of sanitary education, mainly concerning the appropriate cooking of foods, since most positive animals did not show significant association with the presence of rodents or untreated water consumption but showed, instead association with ingestion of homemade food. Thus, toxoplasmosis is a public health problem in the studied region, and sanitary measures are needed to control the infection due to the strict relationship between man and dog and the presented risk factors

Contracaecum pelagicum and C. plagiaticium (Nematoda: Anisakidae) infection in Magellanic penguins (Sphenisciformes: Spheniscidae) on the coast of Rio de Janeiro State

The occurrence of infections and the disease induced by Contracaecum plagiaticium and Contracaecum pelagicum in Magellanic penguins, Spheniscus magellanicus Foster. 1781 (Sphenisciformes: Spheniscidae) were reported on the coast of Rio de Janeiro. Parasites of the genus Contracaecum were present in all of the 11 studied animals. Co-infections by Csontracaecum pelagicum and C. plagiaticium were observed in three hosts (27.27%). Gross lesions included hyperemia of the esophagus and/or stomach in six animals (54.54%). One of these animals (9.09%), parasitized by C. plagiaticium, presented a hemorrhagic area in the gastric mucosa. Histopathological findings demonstrated esophagitis with helminthes segments inserted in the epithelium, showing discrete mixed inflammatory infiltrate of heterophils and mononuclear cells. These parasites may be associated with other diseases, implicating in death of the penguins.

Hyökkäyksestä puolustukseen : taktiikan kehittymisen ensimmäiset vuosikymmenet Suomessa

This study deals with the development of military tactics in Finland from independence to the early 1950s. The research is divided into three periods: the time before the Winter and Continuation wars and the time after the wars. Based mainly on archive sources each period and subject is dealt with in chronological order. The objective was to study the development features in Finnish tactics and the foreign impact on its development. Before the Winter War, offence was regarded as the only course of action that could redress the balance of power in a possible war against the Soviet Union. Defence lacked the depth considered essential in European thinking because the troops were few and the heavily forested terrain prevented the deployment of automatic weapons in echelon. Delaying action was most clearly based on Finnish concepts. Between the world wars, Finnish tactics was very pan-European. Mainly through German influence, the overall thinking followed the emphases of the international mainstream with many influences from other European countries, mainly from Sweden. However, the principles of the mainstream were adapted to suit the circumstances and position of Finland. The short Winter War against the Soviet Union proved that Finnish tactics was on the right track in its basic principles. During the Continuation War it was determined that tactical thinking could not rely solely on offence, but should be based to a greater extent on terms dictated by defensive tactics. During the static phase of the Continuation War, Finland did not receive adequate intelligence on the advances in the offensive capabilities of the Soviet Union. This was why defence tactics was influenced by German combat experiences against the Red Army. In repelling the massive Soviet attack, the use of deeper echelons was adopted as the basic principle in Finland. After the war, the East - West confrontation put Finland in a totally new position. Because combat deep inside Finnish territory in future war seemed probable, Finland adopted a doctrine of territorial defence. Army tactics expanded to more effectively include combat on the coast, in centers of population and in the northern areas of the country. The years after the wars had very little effect on Finnish tactics: development of defence tactics continued further toward defence in depth as a combat model. During the period of the present study, Finnish tactics developed from mainly offensive thinking to emphasizing defensive combat.

The Genus Herposiphonia (Ceramiales, Rhodophyta) in the Coral Reefs Environmental Protection Area, Northeastern Brazil, with new records for Brazil and the Atlantic Ocean

This paper presents a taxonomic study of taxa of the red algae genus Herposiphonia (Ceramiales) occurring on Maracajaú Reef in the Coral Reefs Environmental Protection Area (CREPA - Área de Proteção Ambiental dos Recifes de Corais) in Rio Grande do Norte State, along the northeastern coast of Brazil. The CREPA comprises coastline and continental shelf areas of the municipalities of Touros, Rio do Fogo, and Maxaranguape and includes sand dunes, coastal lagoons, and the adjacent shoreline and offshore reefs. Detailed morphological studies were made, considering recent taxonomic criteria for species delimitation of Herposiphonia, and five species were identified: H. delicatula, H. nuda, H. parca, H. secunda, and H. tenella, thus increasing the number of species in the genus from three to six. Herposiphonia delicatula and H. parca represent new occurrences for Brazil, and H. nuda is reported for the first time for the Atlantic Ocean.

Trachoma among the Yanomami Indians

The Yanomami are one of the last primitive groups of Indians living in Brazil. They have almost no contact with other cultures. The epidemiology of eye disease among Yanomami is virtually unknown. For the first time, a trachoma survey was conducted among Yanomami Indians in the State of Amazonas near the Venezuelan border of the Brazilian rain forest. Ophthalmic examination was carried out on a total of 613 individuals (338 males and 275 females) from eight Yanomami villages along the Marauiá River located in the upper Rio Negro Basin. Age was classified into three categories (children, adults, and elderly) and trachoma was classified into five grades: follicular, inflammatory intense, cicatricial, trichiasis, and corneal opacity. Trachoma was endemic in all villages visited. Overall, 30.3% of the subjects had trachoma. Females were significantly more affected (37.4%) than males (23.9%). The inflammatory trachoma rate reached 24.9% in children and the cicatricial form increased with age, reaching 13.9% among adults and 35.21% among the elderly. Trichiasis or corneal opacities were not detected and treatment of the entire population was initiated with 1 g azithromycin. The detection of endemic trachoma among the Yanomami is relevant for the understanding of the epidemiology of this disease in the Brazilian rain forest and underscores the necessity for a program of trachoma control in this region.

Community-based transconjunctival marginal rotation for cicatricial trachoma in Indians from the Upper Rio Negro basin

The objective of the present study was to describe, for the first time in Brazil, the use by a non-ophthalmologist of a community-based marginal rotation procedure by a posterior approach in the indigenous population from the Upper Rio Negro basin. Seventy-three upper eyelids of 46 Indians (11 males and 35 females) with cicatricial upper eyelid entropion and trichiasis were operated in the Indian communities using a marginal rotational procedure by a posterior approach by a non-ophthalmologist physician who had general surgery experience but only an extremely short period (one week) of ophthalmic training. Subjects were reevaluated 6 months after surgery. Results were classified according to the presence and location of residual trichiasis and symptoms were assessed according to a three-level subjective scale (better, worse or no change). Fifty-six eyelids (76.7%) were free from trichiasis, whereas residual trichiasis was observed in 17 eyelids (23.3%) of 10 subjects. In these cases, trichiasis was either lateral or medial to the central portion of the lid. Of these 10 patients, only 4 reported that the surgery did not improve the irritative symptoms. We conclude that marginal rotation by a posterior approach is an effective and simple procedure with few complications, even when performed by non-specialists. Due to its simplicity the posterior approach is an excellent option for community-based upper eyelid entropion surgery.

The alga Bryothamnion seaforthii contains carbohydrates with antinociceptive activity

Bryothamnion seaforthii, a red alga common to the Northeastern coast of Brazil, was used to prepare the protein fraction F0/60 by ammonium sulfate precipitation. The chromatography of F0/60 on DEAE-Sephadel column resulted in two lectin fractions, PI and PII, which have antinociceptive properties in rodents. We determined the antinociceptive activity of the PII fraction and of a carbohydrate-containing fraction (CF) in mice. The CF was prepared from the dried algae, after digestion with 100 mM sodium acetate, pH 6.0, containing 5 mM cysteine, EDTA and 0.4% papain, at 60ºC. A 10% cetylpyridinium chloride was added to the filtrate, and the precipitate was dissolved with 2 M NaCl:ethanol (100:15, v/v) followed by the carbohydrate precipitation with ethanol. The final precipitate, in acetone, was dried at 25ºC. The PII fraction markedly inhibited acetic acid-induced abdominal writhing after ip administration (control: 27.1 ± 2.20; PII 0.1 mg/kg: 5.5 ± 1.85; 1 mg/kg: 1.6 ± 0.72 writhes/20 min) and after oral administration (control: 32.0 ± 3.32; PII 0.1 mg/kg: 13.1 ± 2.50; 1 mg/kg: 9.4 ± 3.96 writhes/20 min). PII was also effective against both phases of pain induced by 1% formalin (control, ip: 48.2 ± 2.40 and 27.7 ± 2.56 s; PII: 1 mg/kg, ip: 34.3 ± 5.13 and 5.6 ± 2.14 s; control, po: 44.5 ± 3.52 and 25.6 ± 2.39 s; PII 5 mg/kg, po: 26.5 ± 4.67 and 15.3 ± 3.54 s for the 1st and 2nd phases, respectively) and in the hot-plate test. The CF (ip) also displayed significant antinociceptive properties in all tests but at higher doses (1 and 5 mg/kg, ip and po). Thus, CF at the dose of 5 mg/kg significantly inhibited writhes (ip: 7.1 ± 2.47 and po: 14.5 ± 2.40 writhes/20 min) as well as the 1st (po: 19.6 ± 1.74 s) and 2nd (po: 7.1 ± 2.24 s) phases of the formalin test compared to controls ip and po. The antinociceptive effects of both the PII and CF in the formalin and hot-plate tests were prevented at least partially by pretreatment with the opioid receptor antagonist naloxone (2 mg/kg, sc). Moreover, both fractions retained antinociceptive activity in the acetic acid-induced writhing test following heating, a procedure which abolished the hemagglutinating activity of the fraction, presumably due to lectins also present. Finally, both fractions also prolonged the barbiturate-induced sleeping time. These results indicate that carbohydrate molecules present in the PII (26.8% carbohydrate) and CF (21% of the alga dried weight) obtained from B. seaforthii display pronounced antinociceptive activity which is resistant to heat denaturation and is mediated by an opioid mechanism, as indicated by naloxone inhibition.

Pollen and grain size records in abyssal sediments of the northwest Pacific Ocean as proxies of Plio-Pleistocene climate change /

A distinctive period of global change occurred during the PUocene between the warm Miocene and subsequent Quaternary cooling. Samples from Ocean Drilling Project Site 11 79 (-5586 mbsl, 41°4'N, 159°57'E), Site 881 (-5765 mbsl, 47°6.133'N, 161°29.490'E) and Site 882 (-3255 mbsl, 50°22'N, 167°36'E) were studied to determine the magnitude and composition ofterrigenous flux to the western mid-latitude North Pacific and its relation to climate change in East Asia since the mid-Pliocene. Dust-sized particles (including pollen), sourced from the arid regions and loess plateaus in East Asia are entrained by prevailing westerly winds and transported to the midlatitude northwest North Pacific Ocean. This is recorded by peaks in the total concentration of pollen and spores, as well as the mean grain size of allochthonous and autochthonous silicate material in abyssal marine sediments. Aridification of the Asian interior due to the phased uplift of the Himalayan-Tibetan Plateau created the modem East Asian Monsoon system dominated by a strengthening of the winter monsoon. The winter monsoon is further enhanced during glacials due to the expansion of desert and steppe environments at the expense ofwoodlands and forests recorded by the composition of palynological assemblages. The late Pliocene-Pleistocene glacials at ODP Sites 1 179, 881, and 882 are characterized by increases in grain size, magnetic susceptibility, pollen and spore concentrations around 3.5-3.3, 2.6-2.4, 1.7-1.6, and 0.9-0.7 Ma (ages based on magnetostratigraphic and biostratigraphic datums). The peaks during these times are relatively rich in pollen taxa derived primarily from steppe and boreal vegetation zones, recording cool, dry climates. The overall size increase of sediment and abundance of terrestrial palynomorphs record enhanced wind strength. The increase in magnitude of pollen and spore concentrations as well as grain size record global cooling and Northern Hemisphere glaciation. The peaks in grain size as well as pollen and spore abundance in marine sediments correlate with the mean grain size of loess in East Asia, consistent with the deflation of unarmoured surfaces during glacials. The transport of limiting nutrients to marine environments enhanced sea surface productivity and increased the rate of sediment accumulation.

A cytophylogenetic study of Pacific black flies (Diptera: Simuliidae)

The sequential banding patterns of the larval salivary gland polytene chromosomes of seven species of Inseliellum (Diptera: Simuliidae) were mapped. This was completed through the comparison with the standard maps of an eighth species of Inseliellum, Simulium cataractarum. During chromosomal analysis, both fixed and floating inversions were identified. A floating inversion (IIL-l ex,2ex) revealed a cytotype within Simulium exasperans that is distributed between two islands, Moorea and Tahiti. Inversion data revealed three shared fixed inversions that could be used as phylogenetic characters. In addition, the placement of a chromosomal landmark (the nucleolar organizer, or NO) was used as a phylogenetic character. The result of a cytophylogenetic (transformational) analysis showed two groups: the NO-IL group, and the NO-IS group. A combined phylogeny was created using the published morphological data and the cytological data of the eight species. The combined tree did not differ from the morphological data only tree. Possible routes of dispersal are hypothesized using geological, chromosomal, and phylogenetic data. These data showed a general pattern of dispersal and colonization from older islands to younger islands, with one possible instance of dispersal from younger to older islands. It is postulated that inter-island speciation has allowed this dispersal and colonization, but intra-island speciation has created the diversity seen in Inseliellum.