Gary Player tees off at the sixth hole during the inaugural Gary Player Invitational at Saadiyat Beach Golf Club. Courtesy Gary Player Invitational
Gary Player tees off at the sixth hole during the inaugural Gary Player Invitational at Saadiyat Beach Golf Club. Courtesy Gary Player Invitational

Golf

Ryder Cup players, cricket greats and pop stars set to turn out for Gary Player Invitational in Abu Dhabi

A host of professional golfers, celebrities and sports personalities have confirmed their attendance at the second edition of the Gary Player Invitational at Saadiyat Beach Golf Club in February.

A host of professional golfers, celebrities and sports personalities have confirmed their attendance at the second edition of the Gary Player Invitational at Saadiyat Beach Golf Club in February, organisers have announced.

Taking place on February 6, the golf event will raise funds for the Zayed Higher Organization for Humanitarian Care & Special Needs. The tournament in Abu Dhabi is one of five in a global series that together have helped raise more than $62 million (Dh227,7m) for charities worldwide.

Among the male professionals joining Player at Saadiyat Beach Golf Club are former British Open champion Darren Clarke, Ryder Cup players Chris Wood and Victor Dubuisson, and former Omega Dubai Desert Classic winner David Howell. European Tour players Joost Luiten, Jason Scrivener, Thomas Aiken, and Trevor Immelman are also participating.

Representing the female pros are Beth Allen, last year’s winner of the inaugural Fatima Bint Mubarak Ladies Open, as well as course record holder Georgia Hall, Caroline Martens, Emma Cabrera-Bello, and Victoria Lovelady.

Cricket greats Brian Lara and Ricky Ponting, and South African rugby player Victor Matfield will all be playing, as will television personality Jodie Kidd, pop stars Keith Duffy and Brian McFadden, and Emirati comedian Ali Al Sayed.

“Saadiyat Beach Golf Club is one of the most engaging courses in the world and the ideal location to host the mix of professional golfers, sporting greats and special guests during this year’s event in Abu Dhabi,” said Player, tournament host and course designer.

“It is especially significant to host this event during the UAE’s Year of Giving and thanks to the support of the Abu Dhabi Sport Council, facility owner, TDIC and the wider UAE community, we are able to build upon the work of the inaugural event in 2016 and move even closer to reaching our goal of raising $100 million for children by 2025. I know that all participants will have great fun in support of an even greater cause.”

For more information on the Gary Player Invitational series, visit www.garyplayerinvitational.com.

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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.

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