Zlatan Ibrahimovic put in an impressive performance against Atlante at Zayed Sports City.
Zlatan Ibrahimovic put in an impressive performance against Atlante at Zayed Sports City.

Ibrahimovic: We have plenty in reserve



ABU DHABI // Zlatan Ibrahimovic, Barcelona's tall, talismanic striker, has hailed the strength in depth of the European champions ahead of tomorrow's Club World Cup final with Estudiantes de La Plata. The Spanish side were forced to start Wednesday's final-four encounter against Atlante without Thierry Henry and Lionel Messi and then had to fight back from a goal behind to beat the reigning Concacaf champions 3-1.

But while Guillermo Rojas opened the scoring in the fourth minute for the Mexicans, Sergio Busquets equalised, Messi, a 54th-minute substitute scored with only his third touch of the ball, and Pedro sealed his side's success 13 minutes later. Coach Pep Guardiola will have to reshuffle the pack again tomorrow after mercurial midfielder Andres Iniesta was ruled out through injury. The Spaniard picked up a knock to his left thigh during the victory and was replaced by Bojan Krkic in the 75th minute, but Swedish striker Ibrahimovic, a £40million (Dh240m) summer signing from Inter Milan, said the fact that Barca were able to win, despite missing some key players, is proof of the quality they have in the ranks.

"I think that is why Barcelona are so good, because even if these players do not play, we have replacements ready to come in," said the 28-year-old. "[Against Atlante] Pedro starts and scores - that is the difference. He might not start every time, but he's shown again that he can fill in for the other guys." Teammate Yaya Toure, the Ivory Coast midfielder whose flicked header set up Busquets's equali-ser, was quick to agree, adding that the depth of the Barcelona squad has been crucial in the Catalan club's ongoing quest to make history.

"We have 22 or 24 players who can play at the highest level," said Toure. "We have shown exactly that by winning five trophies this year and hopefully we can make that six [tomorrow]." Barca may have won every competition they have taken part in over the past 12 months, but they looked shaken after Rojas's early opener. Yet they were able to collect themselves to finish the game deserved winners. Ibrahimovic put in a determined performance and was unlucky not to get on the scoresheet. The former Juventus forward, who has scored 11 goals in 13 league games, is expected to start tomorrow.

"We have a great team, but behind everything is hard work," he said. "If we did not work hard, we would not win as we do. Not many teams can play the way we play and I like it that way because we make teams run a lot, we make them very tired and that makes it easier for each of us. "But [against Estudiantes] we will need to focus on our own game and not exaggerate what we are doing. "We will do everything within our power to win the game, keep on playing the way we play, but we have no different ideas; just focus on playing our game, creating chances and hopefully being able to score then everything can end well like it did [on Wednesday]."

gmeenaghan@thenational.ae

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

What is the Supreme Petroleum Council?

The Abu Dhabi Supreme Petroleum Council was established in 1988 and is the highest governing body in Abu Dhabi’s oil and gas industry. The council formulates, oversees and executes the emirate’s petroleum-related policies. It also approves the allocation of capital spending across state-owned Adnoc’s upstream, downstream and midstream operations and functions as the company’s board of directors. The SPC’s mandate is also required for auctioning oil and gas concessions in Abu Dhabi and for awarding blocks to international oil companies. The council is chaired by Sheikh Khalifa, the President and Ruler of Abu Dhabi while Sheikh Mohamed bin Zayed, Abu Dhabi’s Crown Prince and Deputy Supreme Commander of the Armed Forces, is the vice chairman.

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PAKISTAN v SRI LANKA

Twenty20 International series
Thu Oct 26, 1st T20I, Abu Dhabi
Fri Oct 27, 2nd T20I, Abu Dhabi
Sun Oct 29, 3rd T20I, Lahore

Tickets are available at www.q-tickets.com

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.”