Pep Guardiola pledged that Manchester City will continue to fight fire with fire when they take a 5-3 lead to Monaco in their Uefa Champions League last-16 tie.
City procured a two-goal advantage after a remarkable first-leg match at the Etihad Stadium on Tuesday in which they fought back from 2-1 and 3-2 down to put themselves in the driving seat.
Monaco’s goals exposed serious failings in the City rearguard, but although Guardiola acknowledged his side must tighten up at the back, he said they would go to Stade Louis II intending to attack.
“They will attack more and more and we have to defend better. But we will have our chances,” said the City manager.
“We are going to fly to Monaco to score as many goals as possible. We are not going to defend that result.
“We now know each other better. We will adjust some things, they will adjust some things, but we have to score goals.
“If we don’t score a goal in Monaco, we will be eliminated.”
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Raheem Sterling gave City a 26th-minute lead following a brilliant run from Leroy Sane, but a loose kick by home goalkeeper Willy Caballero enabled Monaco to level through Radamel Falcao’s header.
A dawdling Nicolas Otamendi was at fault for Monaco’s second goal, scored by Kylian Mbappe, and then conceded a penalty, only for Caballero to save Falcao’s effort.
Sergio Aguero and Falcao swapped goals, the former benefiting from a huge error by Monaco goalkeeper Danijel Subasic, the latter scoring with a sublime chip, before City found an extra gear.
Aguero volleyed in David Silva’s corner to make it 3-3 in the 71st minute and further goals from John Stones and Sane carried Guardiola’s men to a breathless victory.
Aguero was booked for diving after flinging himself over a challenge by Subasic in the first half, but Guardiola refused to discuss the incident, barking: “Next question!”
Aguero has only returned to the starting XI because of an injury to Gabriel Jesus, but he played down suggestions his relationship with Guardiola is frosty.
“The truth is we get on very well,” said the Argentine striker.
“What he wants, above everything, from all the players is that we push a little more. He’s always asking me for more, more, more.
“Obviously it’s a sacrifice I have to make, that we all have to make, and fortunately tonight it worked and we’ll see if it keeps working in the next game.”
Monaco coach Leonardo Jardim said his team had paid for “defensive errors”, but said the “key moment” had been Falcao’s failure to convert his penalty early in the second half.
The visitors were 2-1 up when Otamendi was penalised for going through the back of Falcao, but the Colombian dallied over his spot-kick and then saw a tame shot parried by Caballero.
French striker Mbappe, 18, vindicated Jardim’s decision to hand him a first tournament start by calmly netting Monaco’s second goal after Otamendi had been caught out by Fabinho’s free-kick.
Jardim hailed the teenager’s display, but said Monaco’s defensive shortcomings showed the club’s commitment to developing young players was a double-edged sword.
“I used Kylian up front today because we know City well. We know there’s lots of space in behind,” Jardim told his post-match press conference.
“I thought he played a great match. The little guy is 18 years old. And that’s part of our project as well.
“The defensive errors are also a question of age, maturity. Kylian is 18. Lots of the players are 20, 21, 22.”
Monaco’s performance confirmed their status as Europe’s most prolific attacking team and gave Jardim hope they can turn the tie around in three weeks’ time.
“I think playing here in England, scoring three goals at City, putting on a great show, is also an important moment,” he said.
“I congratulate the team. There are 90 minutes left at home. Nothing is finished.”
* Agence France-Presse
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ENGLAND SQUAD
Goalkeepers Henderson, Pickford, Pope.
Defenders Alexander-Arnold, Chilwell, Coady, Dier, Gomez, Keane, Maguire, Maitland-Niles, Mings, Saka, Trippier, Walker.
Midfielders Henderson, Mount, Phillips, Rice, Ward-Prowse, Winks.
Forwards Abraham, Barnes, Calvert-Lewin, Grealish, Ings, Kane, Rashford, Sancho, Sterling.
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
RESULTS
Catchweight 63.5kg: Shakriyor Juraev (UZB) beat Bahez Khoshnaw (IRQ). Round 3 TKO (body kick)
Lightweight: Nart Abida (JOR) beat Moussa Salih (MAR). Round 1 by rear naked choke
Catchweight 79kg: Laid Zerhouni (ALG) beat Ahmed Saeb (IRQ). Round 1 TKO (punches)
Catchweight 58kg: Omar Al Hussaini (UAE) beat Mohamed Sahabdeen (SLA) Round 1 rear naked choke
Flyweight: Lina Fayyad (JOR) beat Sophia Haddouche (ALG) Round 2 TKO (ground and pound)
Catchweight 80kg: Badreddine Diani (MAR) beat Sofiane Aïssaoui (ALG) Round 2 TKO
Flyweight: Sabriye Sengul (TUR) beat Mona Ftouhi (TUN). Unanimous decision
Middleweight: Kher Khalifa Eshoushan (LIB) beat Essa Basem (JOR). Round 1 rear naked choke
Heavyweight: Mohamed Jumaa (SUD) beat Hassen Rahat (MAR). Round 1 TKO (ground and pound)
Lightweight: Abdullah Mohammad Ali Musalim (UAE beat Omar Emad (EGY). Round 1 triangle choke
Catchweight 62kg: Ali Taleb (IRQ) beat Mohamed El Mesbahi (MAR). Round 2 KO
Catchweight 88kg: Mohamad Osseili (LEB) beat Samir Zaidi (COM). Unanimous decision
The specs: 2019 BMW X4
Price, base / as tested: Dh276,675 / Dh346,800
Engine: 3.0-litre turbocharged in-line six-cylinder
Transmission: Eight-speed automatic
Power: 354hp @ 5,500rpm
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Fuel economy, combined: 9.0L / 100km
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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