Barcelona goalkeeper Marc-Andre ter Stegen, centre, reacts after a Celta Vigo goal in Sunday's loss. Lalo R Villar / AP Photo / October 2, 2016
Barcelona goalkeeper Marc-Andre ter Stegen, centre, reacts after a Celta Vigo goal in Sunday's loss. Lalo R Villar / AP Photo / October 2, 2016

Barca’s Marc-Andre ter Stegen: Must ‘keep my head up’ after costly error



Barcelona's biggest fear when Lionel Messi suffered a groin strain last month was how the team would cope in attack without the talismanic forward.

But while scoring goals has not been a problem for the Primera Liga champions who have found the net 11 times in the three games Messi has missed, defending certainly has been an issue.

Goalkeeper Marc-Andre ter Stegen’s poor display at Celta Vigo was largely responsible for Barca’s 4-3 loss.

“If I hadn’t made the mistake, we could have won this game,” Ter Stegen told reporters. “I’m sorry for the team, who fought really hard.”

With his side trailing, 3-2, Ter Stegen received a back pass from Jordi Alba and waited before attempting to kick the ball back to his teammate. Pablo Hernandez of Celta was just two metres away, though, and raised his right leg to block the pass, the ball deflecting into the goal to gift Celta a 4-2 lead.

“For me, it was the pass which seemed the right one,” Ter Stegen said. “It shouldn’t happen. It’s worse for the team; I think we lost because of it.

“It’s an error. I can’t think all the time about what’s happened. I have to continue, keep my head up. We continue on the same path, and so do I.”

As the Barca players go into the international break, though, they will have to digest a poor defensive effort overall.

Celta scored their opener after they intercepted an errant Ter Stegen pass that had been intended for Sergio Busquets and Pino Sisto finished from close range.

Jeremy Mathieu’s own goal then gave Celta a 3-1 lead.

Barcelona are fourth in the standings, two points adrift of leaders Atletico Madrid, who are level on points with Real Madrid but ahead on goal difference.

Luis Enrique's side play at home to Deportivo La Coruna on October 15 before hosting their former coach Pep Guardiola and Manchester City four days later in the Champions League.

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2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

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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.”

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