James Milner hopes champions Manchester City can now seize the initiative in the title race.
City are joint top of the Premier League with Chelsea at the start of 2015 after hitting a rich spell of form.
They trailed the Londoners by eight points in November and their indifferent form was raising questions over the long-term future of manager Manuel Pellegrini.
But many doubts have been swept aside amid a run of 13 games unbeaten in all competitions.
Their only blip during the congested festive programme was a 2-2 draw with Burnley and Milner sees no reason why momentum cannot be maintained throughout a tough-looking January.
City travel to Everton on Saturday before hosting Arsenal the following week and then ending the month with a much-anticipated clash against title rivals Chelsea.
“Hopefully we’ll be looking to open up a little gap of our own,” said Milner, who underlined his importance to the side with a vital double in Sunday’s FA Cup win over Sheffield Wednesday.
“You look at this run (ahead) and people think it is tougher than the games we had over Christmas but – it is an old cliche in the Premier League – there are form teams and out-of-form teams. Every game is difficult.
“You’ve got teams at the bottom who look and think, ‘We’re going to win that game,’ – look at Burnley coming here and how well they played.
“Sometimes it is easier to play against teams who are mid-table and pushing for Europe and are moving it around a lot more. Who knows what an easy game is? It is the Premier League.
“All we can do is concentrate on our games and if we can get the results we want to get, it depends on how Chelsea do.”
Milner feels people were too quick to write City off as Chelsea made all the early running.
But the England international claims there is no satisfaction to be taken from proving them wrong – because the job is not yet completed.
He said: “No, not yet because we are not at the top and you want to be at the top as early as you can.
“We might have been written off but we haven’t won the league. It is all right being in the race in January, but you need to be in there in May.
“But we have been there before and what is said outside the camp is irrelevant to us. We have got that experience. We have been there before.
“We were written off in March or April the first time but we won it, we turned it round. That experience helps.”
Milner’s performance at the weekend emphasised why the club are keen to get him to sign a new contract.
With City trailing 1-0 to the Championship side, midfielder Milner was asked to reprise the centre-forward role he played during December due to injuries.
He responded – on what was his 29th birthday – with the two goals that turned around the third-round tie, with the dramatic winner coming in stoppage-time.
Talks with Milner over a new deal to replace the one that expires this summer have reached an advanced stage, but the player is still to commit.
Pellegrini is hopeful it will be concluded soon but, for now, Milner wants to talk only about events on the field.
And for him, with Edin Dzeko and Sergio Aguero close to fitness, that might involve another switch of position while central midfielder Yaya Toure is at the Africa Cup of Nations.
Milner said: “We will see what the manager wants to do. Yaya is a big miss for us because of what he has done at the club but we have to deal with that and carry on this run we have been on.”
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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.”
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Tickets
Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.
