Chelsea's players leave the pitch after losing 1-0 to Inter Milan on Tuesday night.
Chelsea's players leave the pitch after losing 1-0 to Inter Milan on Tuesday night.

Ancelotti anticipates a winning response from Chelsea players



Chelsea's exit from the Champions League on Tuesday evening was always going to bring about an inquest, coming as it did at the hands of Jose Mourinho, their former manager. The reaction from supporters will have focused on the players not performing when it mattered most in the loss to Inter Milan, rather than the impressive, structured way the Italian side gained control in the second leg last 16 victory at Stamford Bridge.

Carlo Ancelotti, who occupies Mourinho's former seat at Chelsea, will not be rushed into making changes. In a Premier League where they have been top for most of the season, it is these same players who have produced good performances on a consistent basis. Didier Drogba did not endear himself to many observers with an insipid displays and a reckless red card, but it was the striker and other senior figures such as Frank Lampard, Michael Ballack and John Terry that Ancelotti had in mind when he offered a defence of their failure.

"I think the players tried to do their best, but we didn't do our best. I have trust in these players' confidence," he said. "It can happen that, sometimes, we are not able to do what we want. I have fantastic, profess-ional players and we will have a very good reaction." His players owe him that much at Blackburn today. Sam Allardyce, the Rovers manager, has prepared his side for the visit of a "wounded animal".

Should defeat to Inter be followed by anything other than victory at Ewood Park, questions will be raised about the mentality of the players and Ancelotti himself - even though he only took charge last summer. The Italian will not entertain negative thoughts and has set his side a target of winning their 11 remaining games to secure league and FA Cup success. "Destiny is in our own hands. If we win every game, we can do the double," he said.

With a trip to Old Trafford to come it is certainly an ambitious target. It would be rare to see Chelsea's key players collectively perform as laboriously as they did against Inter for two games in a row. Questions have been asked about the desire, but Ballack, the German midfielder, insisted the players are motivated. "I am hungry. A club like Chelsea wants to win everything. To be out in such a big competition as the Champions League is a big disappointment for us, but that is football and our target is the league now," said Ballack.

"We have to be focused. To win the game against Blackburn, we must take on and win the battles." Allardyce will have Rovers prepared for exactly that. After four successive home league wins to elevate them to mid-table, his direct way of playing the game has been effective. "We have to be right tactically and we need 11 lads prepared to roll their sleeves up and work harder and run longer than they have done all season," he said.

That should make it tough for Chelsea, but a 5-0 defeat in October is a reminder of how destructive Ancelotti's side can be. akhan@thenational.ae Blackburn v Chelsea, 8pm, Showsports 1 & 2

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
If you go

The flights

The closest international airport for those travelling from the UAE is Denver, Colorado. British Airways (www.ba.com) flies from the UAE via London from Dh3,700 return, including taxes. From there, transfers can be arranged to the ranch or it’s a seven-hour drive. Alternatively, take an internal flight to the counties of Cody, Casper, or Billings

The stay

Red Reflet offers a series of packages, with prices varying depending on season. All meals and activities are included, with prices starting from US$2,218 (Dh7,150) per person for a minimum stay of three nights, including taxes. For more information, visit red-reflet-ranch.net.

 

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”