The family of the late Chadwick Boseman have denied claims the actor was "snubbed" at this year's Oscars.
The star was nominated for Best Actor at Sunday's ceremony, for his performance in Ma Rainey's Black Bottom.
While he was widely believed to be the favourite to win the prestigious trophy, after similar success at the Golden Globes and Sag Awards, the Academy Award went to Sir Anthony Hopkins, for his role in drama The Father.
The Welsh actor did not attend the ceremony, with the award collected on his behalf by presenter Joaquin Phoenix, in an anticlimactic end to the three-and-a-half-hour show.
While fans of Boseman, who died in 2020 aged 43 after privately battling colon cancer, were disappointed he was not posthumously awarded the title, the actor's family have revealed they didn't see his loss as a "snub".
Every nominated actor in the category was deserving of the award, the actor's brother, Derrick Boseman, told TMZ.
He also sent congratulations to Hopkins on his win, saying "I'm sure Anthony would if Chad won".
Indeed, while Hopkins may have been asleep in his native Wales when his name was called, he later posted a video thanking the Academy for the honour, as well as including a message for Boseman.
"At 83 years of age, I did not expect to get this award, I really didn't," said the actor in a video posted to his Instagram page on Monday.
"I want to pay tribute to Chadwick Boseman who was taken from us far too early, and again, thank you very much. I really did not expect this, so I feel very privileged and honoured, thank you."
At 83, Hopkins is now the oldest-ever winner of an Academy Award in the acting categories, usurping the late Christopher Plummer, who previously held the title for his 2011 Best Supporting Actor win for Beginners at age 82.
Boseman's acclaimed performance in Ma Rainey's Black Bottom was his last role filmed before his death.
However, the actor's brother told TMZ the star did not place too much emphasis on the Oscars, describing the awards as "a campaign".
Boseman's Ma Rainey's Black Bottom co-star, Viola Davis, also lost out on Best Actress at Sunday's ceremony.
See all the winners from Sunday night's 93rd Academy Awards:
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Retirement funds heavily invested in equities at a risky time
Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.
Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.
The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.
The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.
Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.
The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.
• Bloomberg
