Nico Rosberg edges Lewis Hamilton for Abu Dhabi Grand Prix pole

ABU DHABI // Nico Rosberg, acting on the advice of his world champion father, calmed his nerves and clinched pole position ahead of Mercedes-GP teammate Lewis Hamilton for Sunday's season-defining, title-deciding Etihad Airways Abu Dhabi Grand Prix.

The German driver, son of 1982 Formula One champion Keke, clocked a fastest lap that was 0.386 seconds better than title rival Hamilton as the sun slipped below the horizon at Yas Marina Circuit last night.

Rosberg’s impressive flying lap was his 11th pole of the season and arrived on what is undoubtedly the most intense race weekend he has faced.

An insight into Rosberg’s eager mindset was clear to see when his radio engineer, Tony Ross, told him he had taken pole.

The 29-year-old driver responded by urging Ross to “be more enthusiastic, please”.

Hamilton, who leads the drivers’ championship standings by 17 points going into the season finale, remains in the driving seat, but his task has been made harder.

Courtesy of the Abu Dhabi race offering double points, Hamilton knows he has little margin for error: should Rosberg convert pole, Hamilton must finish second to secure a second world championship.

The 2008 world champion has looked composed all weekend, but there were hints yesterday that the occasion might be getting to him as he made two uncharacteristic errors and struggled to secure even second.

Valtteri Bottas of Williams finished just 0.159 slower after lagging in the final sector.

“It’s very intense,” Rosberg said. “Lewis has everything to lose and I have everything to gain.

“If Lewis feels the pressure here and makes a mistake as a result, that’s the sort of opportunity that I’m looking for and I’m trying to push for. I push flat out all the time to try and keep the level extremely high and that’s all I can do really.

“Try and go for the win and keep the pressure on.”

Hamilton dismissed any such concerns regarding pressure and anxiety and said he never pays much attention to Rosberg and his mind games, always sleeps like a baby and will be relaxed and ready to race come 5pm this afternoon.

“I didn’t really put a comfortable lap together, but it wasn’t really lots of mistakes or anything, it just wasn’t a great lap,” Hamilton said.

“Pole is a great thing and something every driver wants to get, but in F1 it’s not everything. I feel quite comfortable. Second is not a bad place to be and the best thing is I have the confidence I can race.”

Rosberg has spoken regularly this weekend about his need for Hamilton to make an error as he knows that, even if he wins, should Hamilton finish the race, the title will be out of his grasp unless another driver can squeeze ahead and demote Hamilton to third. He joked that he offered to last night pay for an all inclusive spa session for Bottas.

“Well, the mindset is that I need to get the job done and continue on the sort of form that I had in Brazil in the race,” said Rosberg, who claimed his first win in eight races two weeks ago in Sao Paulo.

“I’m sure it’s going to be a great battle between the two of us. Of course I hope for more than that – not just the win, but some sort of help from Lewis or anyone.”

While Hamilton’s family have not travelled to the Emirates for the final showdown, Rosberg said his dad had written to him and also passed on some words of wisdom.

“My family are supporting me and my Dad wrote,” Rosberg said.

“We had a discussion about it. He gave me his advice for this weekend and I try and apply that or take whatever I think would help me.”

Toto Wolff, the Mercedes chief, said the time for talking is over. Now is the time for the champion to make himself known.

“A lot of people have been asking what we will be saying to the drivers before tomorrow’s race and the answer is: nothing, it’s too late,” Wolff said. “Both drivers are in the zone now and we will leave them in peace to prepare.”

gmeenaghan@thenational.ae

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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.

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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.

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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.

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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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