Sport

Rooney's knockout vow

Wayne Rooney is confident that Manchester United can deal a decisive blow to Liverpool's Premier League title chances when the sides meet at Old Trafford.

James Eastham

March 13, 2009

Wayne Rooney is confident that Manchester United can deal a decisive blow to Liverpool's Premier League title chances when the sides meet at Old Trafford this afternoon. Liverpool overshadowed their neighbours in midweek as Rafa Benitez's men turned in a sparkling display to defeat Real Madrid 4-0 in the Champions League on Tuesday night before United laboured to a 2-0 win over Inter a day later.

But as the focus returned to domestic matters, Rooney hinted that the English, European and world champions were ready to reveal their supremacy. "We're in pole position and know if we can beat Liverpool then that'll more or less end their chances of winning the league," the striker said. "They know, in coming to Old Trafford, it's going to be a difficult game for them. They also know they need the three points and I'm sure they'll be up for it - we certainly will be."

Rio Ferdinand, who has formed the best central defensive partnership in the world alongside Nemanja Vidic this season, added that United were focusing on their own prospects before the clash. Ferdinand said: "Could the game end their title chances? Possibly, but we still have games after that to win. It's the same at this stage of the season all the time. "People say 'If you win this game, you win the league', but it just continues until it's mathematically over and one team win it, and hopefully that will be us.

"If we win, it will obviously make it hard for them but I couldn't care what happens to Liverpool as long as we beat them. If we do that and that leads to people thinking they're out of it, then so be it." United have a major advantage in the title race as they're seven points clear with a game in hand over nearest challengers Chelsea and Liverpool. Benitez - who is seeking his 100th English league victory - knows United need to suffer a dramatic loss of form if the league title is to return to Anfield for the first time in 19 years.

After their win over Real Madrid Liverpool players say they could cause an upset at Old Trafford. "If we play like we did against Real Madrid it will be difficult for any team to beat us," said Javier Mascherano, who was sent off in Liverpool's 3-0 defeat in the corresponding fixture last season. "It was a fantastic performance and now we'll see what happens at Old Trafford. We want to win there."

Winger Ryan Babel added: "There is a new belief that we can beat United now. Winning any game is possible and it gives us a buzz to go to Old Trafford after beating Real Madrid." Reports say that Benitez will soon sign a new contract that will keep him at Anfield for the next five years. jeastham@thenational.ae

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

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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Company Profile 

Founder: Omar Onsi

Launched: 2018

Employees: 35

Financing stage: Seed round ($12 million)

Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
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