Carlos Queiroz reacts during Iran's los to Argentina on Saturday at the 2014 World Cup in Belo Horizonte, Brazil. Ballesteros / EPA / June 21, 2014
Carlos Queiroz reacts during Iran's los to Argentina on Saturday at the 2014 World Cup in Belo Horizonte, Brazil. Ballesteros / EPA / June 21, 2014

Sport

Carlos Queiroz angry at referee after ‘clear’ penalty was denied

Andy Mitten speaks to Iran coach Carlos Queiroz following their 1-0 loss to Argentina, and finds him angry. 'I don't understand it, he had to have seen it was a penalty'.

Andy Mitten
Andy Mitten
Barcelona and Manchester

June 22, 2014

BELO HORIZONTE // Iran manager Carlos Queiroz was furious with the Serbian referee after his side lost to an injury-time Lionel Messi winner.
Milorad Mazic did not award a penalty when Iran were on top in the second-half as Ashkan Dejagah's appeals were turned down when he tumbled in the area under pressure from Pablo Zabaleta.
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"It was a clear penalty," Queiroz said. "Millions of people saw that. I don't understand it, he had to have seen it was a penalty. He was five metres away, there is no way he couldn't have seen it. I have the right to say this and I only hope I am now not punished for telling the truth because it was a decision that nobody can understand."
Queiroz was otherwise satisfied with his team who came within two minutes of drawing.
"I'm proud of my team and happy with the performance," he said. "But we didn't come here to be nice losers. We came to compete and win and I think we deserved a little bit more today, but then you have Messi and his genius strike. Messi was fantastic, but the referee wasn't.
"I wish the result would have been different, but what can we do? We need to look forward now and win the next game [against Bosnia and Herzegovina]. We can still go through."
His Argentine counterpart Alejandro Sabella praised Iran, who defended resolutely yesterday.
"They made the game very difficult for us," said Sabella. "Messi was marked very tightly, but he showed perseverance, patience, attitude and always looked for the goal. He never gave up."
Messi said that his side will improve after also stuttering in the opener, a 2-1 win over Bosnia.
"We are not showing what we can do, but with a run of games I think we will get there," he said. "We are the first ones to know we have not reached the level we would like."
His goal put Argentina into the last 16. "When the ball went in I felt very happy to have qualified because it was in the last few minutes and for the roar of the crowd. It was a lovely moment," Messi said.
Zabaleta said he could not see his side making the breakthrough. "We had the feeling that we weren't going to win, but when you have a player like Leo, who can always do that, it is very satisfying," the Manchester City defender said.
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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.

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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.

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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.”

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