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• Hotter markets at fund launch mean lower future returns for investors in new funds. • Lower investor returns are due to lower fund returns and inferior investor premiums. • Lower fund returns are mainly driven by poor timing of the funds' risk exposures. • Inferior investor premiums reflect investors' unsophisticated capital flow choices. Mutual fund companies typically launch new funds during booms, but little is known about how this behavior relates to investor returns. Using a sample of Chinese open-end mutual funds from 2005 to 2022, we find that the hotter the markets at fund inception, the lower the future investor returns. Fund underperformance and inferior investor premiums explain the lower investor returns. Moreover, fund underperformance is largely due to inappropriate timing of risk exposures, while inferior investor premiums indicate investors' unsophisticated capital flow decisions. Our study suggests that new fund inceptions during booms help increase management fees at the expense of investors. [ABSTRACT FROM AUTHOR]

Objective: To compare the different ovarian stimulation protocols, clomiphene citrate (CC), letrozole, human menopausal gonadotropin (hMG) only or combined with CC or letrozole in women undergoing artificial insemination by donor (AID). Methods: In this prospective clinical trial, 671 couples prepared for AID cycles were randomly allocated to 6 groups according to receive different protocols for the first time, natural cycle (group A, n=114), CC (group B, n=101), CC and hMG (group C, n=124), letrozole (group D, n=97), letrozole and hMG (group E, n=123) and hMG only (group F, n=112). Outcomes including total dose of hMG, duration of hMG therapy, dominant follicles number, endometrial thickness, rates of clinical pregnancy, miscarriage, ovarian hyperstimulation syndrome (OHSS), multiple pregnancy and cancelation were compared among the 6 groups. Results: The total doses and duration of administered hMG were significantly lower in group C and group E than in group F. Dominant follicle number was significantly less in group A and more in group C than in other groups. Endometrial thickness of group B was significantly lower than that of other groups. Clinical pregnancy rate, multiple pregnancy rate, miscarriage rate, OHSS rate and cancelation rate were not statistically different among the stimulation groups. Conclusion: AID cycles in which both CC and letrozole had been administered may require shorter duration and a lower total gonadotropin dose, while the clinical outcomes were similar. [Copyright &y& Elsevier]

Abstract: Objectives: To compare the expression of pinopodes, LIF, integrin β3 and MUC1 in the peri-implantation endometrium of women with and without hydrosalpinx. Study design: A prospective observational study in an assisted reproductive unit in a university teaching hospital, including 20 women with hydrosalpinx and 21 women without hydrosalpinx. Endometrial biopsies were performed on day LH+7 or +8. The proportion and density of pinopodes were assessed by scanning electron microscopy. LIF, integrin β3 and MUC1 were evaluated with immunohistochemical staining. Results: The proportion and the density of pinopodes were not significantly different between the hydrosalpinx and control groups. The LIF, integrin β3, and MUC1 expression were significantly reduced in both glandular epithelial cells and endometrial lumen of the hydrosalpinx group when compared with those of the control group. The expression of integrin β3 in stromal cells was also significantly lower in the hydrosalpinx group. Conclusions: The proportion and the density of pinopodes in the peri-implantation endometrium were not affected by the presence of hydrosalpinx while LIF, integrin β3 and MUC1 were significantly reduced in patients with hydrosalpinx. [Copyright &y& Elsevier]

Sulfide-modified nanoscale zero-valent iron (S-nZVI) is a commonly used reductive agent in pollutant removal. However, the aggregation of S-nZVI can lower its reduction capacity in the water, and its regeneration remains challenging. To overcome these limitations, one-pot fast pyrolysis of FeSO 4 -loaded lignocellulosic biomass was proposed to obtain highly stable biochar-supported S-nZVI (S-nZVI/BC) nanoparticles. During this process, Fe2+ were reduced and sulfuretted in situ to form S-nZVI and subsequently covered by the freshly formed carbon film. A series of S-nZVI/BCs pyrolyzed at different temperatures (500–1000 °C) were prepared, among which S-nZVI/BC pyrolyzed at 800 °C (S-nZVI/BC-800) exhibited a fast and stable removal of diclofenac (DCF) via adsorption and reduction. The DCF removal efficiency of S-nZVI/BC-800 reached 80.1% within 4 h, with a particle dosage of 0.5 g/L and Fe dosage of 1 mmol/g. The adsorption and reduction efficiencies of DCF by S-nZVI/BC-800 were 43.2% and 36.9%, respectively. The improved reactivity of S-nZVI/BC-800 can be attributed to the formation of iron sulfides (i.e., FeS and Fe 1−x S) in ZVI particles, which increased the electrical conductivity and improved the material selectivity for the reduction of DCF in the water. S-nZVI/BC-800 could be easily regenerated through pyrolysis, during which the carbon film could act as the electron donor. This study provides a facile and skillful method to prepare a highly stable and refreshable S-nZVI, which could be a promising permeable reactive bed material for the remediation of halogenated organic pollutants in contaminated water. [Display omitted] • A biochar-supported S-nZVIcatalyst was facilely synthesized by a one-pot pyrolysis. • The as-prepared S-nZVI/BC exhibited a fast and stable removal of diclofenac (DCF). • The cycle, regeneration, and long-term performance of S-nZVI/BC were performed. • The high activity of S-nZVI/BC can be attributed to the formation of iron sulfides. • The iron sulfides can increase the electrical conductivity and reduction selectivity. [ABSTRACT FROM AUTHOR]

Using inexpensive terephthalic acid as a substitute for isophthalic acid, nitrogen-doped carbon coated nickel nanoparticles (Ni@NC) materials were synthesized by pyrolysis of Ni-MOF precursor, which were applied to the selective hydrogenation of p-nitrophenol under mild conditions (60 °C, 2 h) and showed better catalytic performance (>99.9 % conversion of p-nitrophenol and >99.9 % selectivity for p-aminophenol). The excellent catalytic performance may be mainly attributed to their core–shell structure, i.e., zero-valent nickel nanoparticles encapsulated within a nitrogen-doped carbon layer with an appropriate microporous structure, whereas zero-valent nickel nanoparticles have the ability to activate dihydrogen and block dioxygen. [Display omitted] The catalytic hydrogenation of aromatic nitro compounds under mild conditions to generate amino compounds is a great challenge in terms of conversion, selectivity and stability. In this paper, two classes of nitrogen-doped carbon coated nickel nanoparticles, coined Ni@NC-P and displaced Ni@NC-T were prepared by high-temperature pyrolysis of MOFs using inexpensive terephthalic acid and high-priced trimesic acid as carbon source, respectively. One from the former class, namely the Ni@NC-P-500 catalyst, exhibits the best catalytic performance, which is superior to Ni@NC-T-500 Samples. For the selective hydrogenation of p -nitrophenol under mild conditions (60 °C, 2 h), the Ni@NC-P-500 catalyst shows >99.9 % conversion of p -nitrophenol and >99.9 % selectivity for p -aminophenol and can be recycled five times without obvious decrease of conversion and selectivity, thanks to its larger specific surface area (382.02 m2·g−1), smaller nickel particle size (8.2 nm), higher nitrogen content (especially pyridine nitrogen), higher electron-rich nickel content and less hydrophilic properties than that of the Ni@NC-T-500. The excellent stability and recyclability of the catalysts are mainly attributed to their core–shell structure, i.e., zero-valent nickel nanoparticles encapsulated within a nitrogen-doped carbon layer with an appropriate microporous structure, whereas zero-valent nickel nanoparticles have the ability to activate dihydrogen and block dioxygen. [ABSTRACT FROM AUTHOR]

• Viral production varies by 20-fold in Chinese estuaries with significant seasonality. • Viral population size peaks at mid-latitude in global estuarine ecosystems. • Viral activity increases towards the equator in global estuaries. • More than half of bacterioplankton are killed by viruses each day in global estuaries. Estuaries are important ecosystems providing irreplaceable services for humankind and, in turn, are extensively influenced by human activities and climate changes. Microbial processes, which are largely controlled by viruses, are always responsible for the ecological function and environmental problems in estuaries. However, we know little about the ecology and importance of viruses in estuarine systems. Here, we investigated viral ecological dynamics in estuarine systems on local (four largest estuaries in China in different seasons) and global scales. Viral production varied by almost 20-fold in Chinese estuaries with significant seasonality, being responsible for the removal of 1.41%–21.45% of the bacterioplankton standing stock each day, and contributed directly to the organic carbon pool by releasing an average of 3.57 µg of cellular carbon per liter per day. By compiling data from 21 estuaries across the world, we found for the first time that viral population size peaked at mid-latitude and viral production increased towards the equator in estuarine ecosystems. The results indicated the higher viral impact on microbial mortality and dissolved organic matter cycling in tropical estuaries. Our field investigation and global synthesized analysis provide compelling evidence of spatiotemporal variations in estuarine viral dynamics. The global view of viral impacts on estuarine microbial mortality offers important insight for incorporating viruses into ecological models and understanding the environmental implications of the tropicalization of temperate aquatic ecosystems under a scenario of climate warming. [Display omitted] [ABSTRACT FROM AUTHOR]

As a good load shifting technology for power grid, chilled energy storage has been paid more and more attention, but it always consumes more energy than traditional air conditioning system, and the performance analysis is mostly from the viewpoint of peak-valley power price to get cost saving. The paper presents a thermoeconomic evaluation methodology for the system with chilled energy storage, by which thermodynamic performance influence on cost saving has been revealed. And a system with chilled storage has been analyzed, which can save more than 15% of power cost with no energy consumption increment, and just certain difference between peak and valley power prices can make the technology for good economic application. The results show that difference between peak and valley power prices is not the only factor on economic performance, thermodynamic performance of the storage system is the more important factor, and too big price difference is a barrier for its application, instead of for more cost saving. All of these give a new direction for thermal storage technology application. [ABSTRACT FROM AUTHOR]

Highlights: [•] We supply new air-conditioning systems with chilled energy storage. [•] We analysis the systems performances including thermodynamic and economic performances. [•] A new point for less energy consumption and cost for chilled energy storage application is discovered. [•] A new direction for utilization of energy storage technologies is given. [Copyright &y& Elsevier]