ABU DHABI // Fernando Baiano wants Al Wahda to put the disappointment of heavy defeat behind them and turn their attention to the next opportunity afforded them in the Club World Cup.
Wahda play Pachuca, the North American champions, in the fifth-place match at 6pm on Wednesday, a game that offers the UAE team a chance for redemption after a 4-1 loss to Seongnam Ilhwa Chunma on Saturday.
"We shouldn't get disheartened with one bad result," Baiano said. "These things happen in football, and sometimes with the best teams around the world. We still have a game and should prepare to win the next match.
"We must keep our heads high because we were beaten by the Asian champions. If we can win against Pachuca, it will be a big achievement. And that's what should be our next goal."
Baiano, the Brazilian striker, is in fine form. He scored in the 3-0 victory over Hekari United and also struck against Seongnam, a header from distance that levelled the score in the 27th minute.
"It's always nice to score goals in this competition because it is seen all over the world," he said. "However, it would have more value had it been for the winning side."
Seongnam went ahead again in the 30th minute from a header from Sasa Ognenovski. Looking back on the match, Baiano said the Korean club's two early goals, rather than the pair in the final 20 minutes, were Wahda's undoing.
"We were under pressure from the start," he said. "We managed to get on level terms with my goal but they scored again very quickly and from there onwards it became difficult for us."
The Pro League champions will want to tighten up at the back ahead of the Pachuca match. The Mexican side could not produce a goal in a 1-0 loss to TP Mazembe, but they generated plenty of chances through their Argentine midfielder Alejandro Manso.
Josef Hickersberger, the Wahda coach, expressed concern about his players being ready to play so soon after their victory over Hekari. "Most of my players hadn't recovered from our previous match but they'll have to do so in time for our next game, because we owe it to our fans to finish fifth," he said.
While they can repair their reputation against Pachuca, what Wahda cannot retrieve is a chance to meet Inter Milan, the European champions. That opportunity goes to Seongnam.
"This Seongnam team is strong and I feel we can do something," Sasa Ognenovski, the Seongnam captain, said.
apassela@thenational.ae
Schedule
Results First round: Al Wahda 3 Hekari United 0; Quarter-finals: TP Mazembe 1 Pachuca 0; Al Wahda 1 Seongnam 4
Tomorrow Semi-final: TP Mazembe v Internacional, 8pm, Mohammed bin Zayed Stadium
Wednesday Fifth-place play-off: Pachuca v Al Wahda, 6pm, Zayed Sports City Stadium;
Semi-final: Seongnam v Inter Milan, 9pm, Zayed Sports City Stadium
Saturday Third-place play-off, 6pm, Zayed Sports City Stadium. Final, 9pm, Zayed Sports City Stadium
Fixtures
Tuesday - 5.15pm: Team Lebanon v Alger Corsaires; 8.30pm: Abu Dhabi Storms v Pharaohs
Wednesday - 5.15pm: Pharaohs v Carthage Eagles; 8.30pm: Alger Corsaires v Abu Dhabi Storms
Thursday - 4.30pm: Team Lebanon v Pharaohs; 7.30pm: Abu Dhabi Storms v Carthage Eagles
Friday - 4.30pm: Pharaohs v Alger Corsaires; 7.30pm: Carthage Eagles v Team Lebanon
Saturday - 4.30pm: Carthage Eagles v Alger Corsaires; 7.30pm: Abu Dhabi Storms v Team Lebanon
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4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
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TOP 5 DRIVERS 2019
1 Lewis Hamilton, Mercedes, 10 wins 387 points
2 Valtteri Bottas, Mercedes, 4 wins, 314 points
3 Max Verstappen, Red Bull, 3 wins, 260 points
4 Charles Leclerc, Ferrari, 2 wins, 249 points
5 Sebastian Vettel, Ferrari, 1 win, 230 points
UAE SQUAD
Ahmed Raza (Captain), Rohan Mustafa, Jonathan Figy, CP Rizwan, Junaid Siddique, Mohammad Usman, Basil Hameed, Zawar Farid, Vriitya Aravind (WK), Waheed Ahmed, Karthik Meiyappan, Zahoor Khan, Darius D'Silva, Chirag Suri
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.”
CHINESE GRAND PRIX STARTING GRID
1st row
Sebastian Vettel (Ferrari)
Kimi Raikkonen (Ferrari)
2nd row
Valtteri Bottas (Mercedes-GP)
Lewis Hamilton (Mercedes-GP)
3rd row
Max Verstappen (Red Bull Racing)
Daniel Ricciardo (Red Bull Racing)
4th row
Nico Hulkenberg (Renault)
Sergio Perez (Force India)
5th row
Carlos Sainz Jr (Renault)
Romain Grosjean (Haas)
6th row
Kevin Magnussen (Haas)
Esteban Ocon (Force India)
7th row
Fernando Alonso (McLaren)
Stoffel Vandoorne (McLaren)
8th row
Brendon Hartley (Toro Rosso)
Sergey Sirotkin (Williams)
9th row
Pierre Gasly (Toro Rosso)
Lance Stroll (Williams)
10th row
Charles Leclerc (Sauber)
arcus Ericsson (Sauber)
QUARTER-FINAL
Wales 20-19 France
Wales: T: Wainwright, Moriarty. Cons: Biggar (2) Pens: Biggar 2
France: T: Vahaamahina, Ollivon, Vakatawa Cons: Ntamack (2)
MATCH INFO
AC Milan v Inter, Sunday, 6pm (UAE), match live on BeIN Sports
