Cameroon have made a major overhaul to their squad, dropping 13 players from the party who went to the World Cup including captain Samuel Eto’o.
German-born coach Volker Finke announced a new-look 25-man squad on Saturday for the Africa Cup of Nations qualifiers away against the Democratic Republic of Congo on September 6 and then at home against the Ivory Coast four days later.
Eto’o has been without a club since being released by Chelsea at the end of last season and his absence was not unexpected as he has not played since his one appearance at the World Cup finals against Mexico in Natal.
The 33-year-old striker, the ringleader of the controversial strike over wages that delayed Cameroon’s trip to Brazil in June, had previously said he would like to add to his 115 caps.
Midfielder Alex Song is out suspended after elbowing Croatia’s Mario Mandzukic in the back in a callous challenge at the World Cup while defender Henri Bedimo was injured in Europa League action for Lyon earlier this month.
Also left out was Benoit Assou-Ekotto, who tried to hit teammate Benjamin Moukandjo during the 4-0 defeat in Manaus.
Moukandjo, who recently moved to Reims in Ligue 1, is one of 10 players retained from a disappointing World Cup trip. Volker named eight uncapped players.
Squad:
Goalkeepers: Pierre Sylvain Abogo (Tonnerre Yaounde), Guy Roland Ndy Assembe (Nancy), Joseph Ondoua (Barcelona)
Defenders: Frank Bagnack (Barcelona), Gaetan Bong (Olympiakos), Cedric Djeugoue (Coton Sport), Jerome Guiahota (Valenciennes), Joel Matip (Schalke 04), Nicolas Nkoulou (Olympique de Marseille), Ambroise Oyongo (New York Red Bulls)
Midfielders: Enoh Eyong (Antalyaspor), Marc Kibong Mbamba (Konyaspor), Raoul Cedric Loe (Osasuna), Georges Mandjeck (Kayseri Erciyesspor), Stephane Mbia (Queens Park Rangers), Benjamin Moukandjo (Stade Reims), Landry Nguemo (Girondins Bordeaux), Edgar Salli (Monaco), Guy Christian Zock (Cosmos Bafia)
Forwards: Vincent Aboubakar (Lorient), Eric-Maxim Choupo Moting (Schalke 04), Jean Marie Dongou (Barcelona), Frank Etoundi (FC Zurich), Leonard Kwueke (Rizespor), Clinton Njie (Olympique Lyonnaise).
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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.”