Dettori aboard pair of fillies at Breeders' Cup

Frankie Dettori will be Godolphin's ladies man today at the Breeders' Cup.

The Italian jockey will be aboard Hibaayeb in the Filly and Mare Turf, then will ride Sara Louise in the Filly and Mare Sprint at Churchill Downs in Louisville, Kentucky.

Godolphin has eight entries in the two-day Breeders' Cup.

Dettori rode Hibaayeb to a Royal Ascot win in the Group 2 Ribblesdale Stakes in June. He was also aboard when she won her US debut at Hollywood Park on October 2 at the Yellow Ribbon Stakes.

Dettori, the Dubai-based racing operation's No 1 jockey, has ridden the three-year-old Hibaayeb in five of her 11 starts.

Hibaayeb came to Kentucky from California under the supervision of Godolphin's Jo Hunnam.

The daughter of Singspiel, Hibaayeb is trained by Saeed bin Suroor and would appreciate similar ground conditions at Churchill Downs for the 11- furlong race.

"Hibaayeb is in good form," Hunnam said. "She has done a nine-furlong canter on the dirt for the last two days.

"She seems ever better than she was when she left England. She revels in fast ground."

Dettori, who has ridden 99 Group/Grade 1 winners for his retained team, will also team up with Sara Louise, who is being aimed at the dirt Grade 1 Filly and Mare Sprint for a second successive year. The four-year-old Malibu Moon filly, who is also trained by bin Suroor, was fourth in the seven-furlong contest last season, when it was run on Pro-Ride at Santa Anita.

Sara Louise has been exercised on the dirt at Churchill Downs along with other Godolphin horses after arriving at the course from New York. "They trotted for a mile and cantered for a mile and a quarter," said Rick Mettee, the assistant trainer to bin Suroor in America.

"They all went especially well and seem to be going the right way."

Breeders' Cup

Godolphin horses at Churchill Downs

Today
Hibaayeb Emirates Airline Breeders' Cup Filly & Mare Turf
Sara Louise Breeders' Cup Filly & Mare Sprint

Tomorrow
Etched Breeders' Cup Classic
Girolamo Sentient Jet Breeders' Cup Sprint
Gayego Breeders' Cup Direct Mile
Vineyard Haven Breeders' Cup Direct Mile
Biondetti Breeders' Cup Juvenile
Delegator TVG Breeders' Cup Mile

The specs

Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

ESSENTIALS

The flights
Fly Etihad or Emirates from the UAE to Moscow from 2,763 return per person return including taxes.
Where to stay
Trips on the Golden Eagle Trans-Siberian cost from US$16,995 (Dh62,414) per person, based on two sharing.

The specs

Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)

THE DRAFT

The final phase of player recruitment for the T10 League has taken place, with UAE and Indian players being drafted to each of the eight teams.

Bengal Tigers
UAE players: Chirag Suri, Mohammed Usman
Indian: Zaheer Khan

Karachians
UAE players: Ahmed Raza, Ghulam Shabber
Indian: Pravin Tambe

Kerala Kings
UAE players: Mohammed Naveed, Abdul Shakoor
Indian: RS Sodhi

Maratha Arabians
UAE players: Zahoor Khan, Amir Hayat
Indian: S Badrinath

Northern Warriors
UAE players: Imran Haider, Rahul Bhatia
Indian: Amitoze Singh

Pakhtoons
UAE players: Hafiz Kaleem, Sheer Walli
Indian: RP Singh

Punjabi Legends
UAE players: Shaiman Anwar, Sandy Singh
Indian: Praveen Kumar

Rajputs
UAE players: Rohan Mustafa, Ashfaq Ahmed
Indian: Munaf Patel

SPECS

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The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

SPEC%20SHEET%3A%20APPLE%20IPHONE%2015%20PRO%20MAX

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57%20Seconds

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Profile Idealz

Company: Idealz

Founded: January 2018

Based: Dubai

Sector: E-commerce

Size: (employees): 22

Investors: Co-founders and Venture Partners (9 per cent)

Race card:

6.30pm: Baniyas (PA) Group 2 Dh195,000 1,400m.

7.05pm: Maiden (TB) Dh165,000 1,400m.

7.40pm: Handicap (TB) Dh190,000 1,200m.

8.15pm: Maiden (TB) Dh165,000 1,200m.

8.50pm: Rated Conditions (TB) Dh240,000 1,600m.

9.20pm: Handicap (TB) Dh165,000 1,400m.

10pm: Handicap (TB) Dh175,000 2,000m.

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.”