Jazira ready to take leading role



SHARJAH // Al Jazira have long been the bridesmaids in the Pro League, finishing runners-up for the past three seasons. But, coming back stronger every time, they are off to another promising start with a 2-1 victory at Sharjah last night. The Abu Dhabi powerhouses, who have lost just once in their last 31 league, started their campaign this season with a 3-0 win over Al Nasr at home last week. Abdullah Mousa was one of the goalscorers in that game and he gave the visitors a sixth-minute lead last night. Marcelinho, however, brought Sharjah level in the 57th minute from a penalty, but another spot-kick at the other end, two minutes from time, gave Jazira maximum points from the game. Farid Ali, the referee, found Musa Hatab guilty of infringing Abdullah Qassem. Ibrahim Diaky, the veteran midfielder, converted expertly. Jazira's last defeat in the Pro League came in the 14th round of last season, at eventual champions Al Wahda on Valentine's Day, and they have looked the most convincing of the top sides this season, although Baniyas for the moment also has six points. Wearing their bright red kit for the first time, Jazira got off to a dazzling start as well when the wide midfielder Mousa headed in Toni's corner. Six minutes later, Toni, the striker from the Ivory Coast, attempted a spectacular bicycle kick that brought the stands to their feet, and it did not miss the goal by much. Sharjah could find few openings, with Salah Basheer keeping a tight leash on Marcelinho. The frustrated but unrelenting Brazilian striker changed tactics and took his chances from distance, one of which missed the target by inches in the 26th minute. As they came out after the break, the home side upped the ante and gave Ali Khasif, the Jazira goalkeeper, a thorough workout. Robinho had a shot blocked, Marcelinho had a header on target, and Nawaf Mubarak unleashed a scorcher from midfield. All those efforts were in vain as Khasif stood strong, foiling a clever little flick from Marcelinho in the 51st minute. Sharjah's sustained efforts finally paid off in the 57th minute when Basheer's tackle on Mohammed Suroor led to a penalty. Marcelinho converted into the right corner with aplomb. The equaliser prompted Abel Braga, the Jazira coach, to make a double substitution in the 70th minute, bringing Matias Delgado on for Toni and Ahmed Jumaa for Sultan Bargash. Qassem replaced Bare and he earned the penalty.

arizvi@thenational.ae Sharjah Marcelinho 57' Al Jazira Mousa 6', Diaky (pen) 90' Man of the match Marcelinho (Sharjah)

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.”

The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 240hp at 5,500rpm

Torque: 390Nm at 3,000rpm

Transmission: eight-speed auto

Price: from Dh122,745

On sale: now

The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

The specs

Engine: 3-litre twin-turbo V6

Power: 400hp

Torque: 475Nm

Transmission: 9-speed automatic

Price: From Dh215,900

On sale: Now

Leap of Faith

Michael J Mazarr

Public Affairs

Dh67
 

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The Gentlemen

Director: Guy Ritchie

Stars: Colin Farrell, Hugh Grant 

Three out of five stars

Dates for the diary

To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:

  • September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
  • October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
  • October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
  • November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
  • December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
  • February 2, 2018 Bodytree will host its 4th annual yoga market.

MATCH INFO

Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD

* Second leg in Australia scheduled for October 10

Election pledges on migration

CDU: "Now is the time to control the German borders and enforce strict border rejections" 

SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom" 

Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.