Sheikh Mansour surveys Al Wathba Stud Farm



The Al Wathba Stud Farm in France already has a reputation as being one of the best in Normandy for breeding racehorses and plans are in hand to make it even better. Its owner, Sheikh Mansour bin Zayed, visited the farm at the end of last week to showcase the work being done there. Emmanuel Bodard, the breeding manager of the La Boutonniere-based farm, said: "Normandy is known for its reputation as the region's best place for breeding race horses as well as for its excellent climate. The Al Wathba farm is one of the best in the region and the quality of the paddock at the farm is very good," Bodard said, adding there were plans to make it even better.

"Winter in this part of the world is not too cold and summer ... not too hot which is suitable for breeding horses." Merzal, Thaaniya and Rabbah De Carrere are three yearlings of the still-in-training Purebred Arabian racing legend Mizzna at the farm. The two fillies, Merzal and Thaaniya, are full sisters to Rabbah de Carrere from the famous sire Bibi de Carrere. "The three children may race against their mother should the brilliant mare continue in training for the coming couple of years," Bodard said.

Sheikh Mansour has been breeding from this farm for the past 12 years but never sells the crop. "The farm houses top stallions including Mahabb along with his sire, Tahar De Candelon, in addition to Munjiz, Sire D'albert, Mawood, Quazar and Sarrab. All of the stallions have made their presence felt in the track before they were retired to stud," Bodard said. Currently, 16 yearlings are stabled at the 72.8-hectare farm.This is in addition to six two-year-olds and nine pre-training two-year-olds.

There are two tracks for the horses to stretch their legs, one all-weather and the other turf. Maraam is the only pre-training three-year-old filly which was also born on the farm by Njewman from Ishem De L'Ardus. The two pre-training four-year-old colts are Rajwan by Tidjani from Dixie Lilly and Rabaae by TC Tomtyr from Refleksja. The rest of the horses in the farm include Rayaan, a nine-year-old mare by Kesberoy, Dariya a six-year-old son of Dormane, Harb by Kerbella and the gelded son of Tidjani from Vermeille

Speaking about the market prospects, Bodard said it is very promising in this part of the world. "There's increasing interest in the Arabian horses and the market is growing rapidly. The number of races for Purebred Arabian horses is on the rise," he said. "The fees are reasonable and varying from one stallion to another." * Agency

NEW%20PRICING%20SCHEME%20FOR%20APPLE%20MUSIC%2C%20TV%2B%20AND%20ONE
%3Cp%3E%3Cstrong%3EApple%20Music%3Cbr%3EMonthly%20individual%3A%20%3C%2Fstrong%3E%2410.99%20(from%20%249.99)%3Cstrong%3E%3Cbr%3EMonthly%20family%3A%20%3C%2Fstrong%3E%2416.99%20(from%20%2414.99)%3Cstrong%3E%3Cbr%3EIndividual%20annual%3A%20%3C%2Fstrong%3E%24109%20(from%20%2499)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EApple%20TV%2B%3Cbr%3EMonthly%3A%20%3C%2Fstrong%3E%246.99%20(from%20%244.99)%3Cstrong%3E%3Cbr%3EAnnual%3A%20%3C%2Fstrong%3E%2469%20(from%20%2449.99)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EApple%20One%3Cbr%3EMonthly%20individual%3A%20%3C%2Fstrong%3E%2416.95%20(from%20%2414.95)%3Cstrong%3E%3Cbr%3EMonthly%20family%3A%20%3C%2Fstrong%3E%2422.95%20(from%20%2419.95)%3Cstrong%3E%3Cbr%3EMonthly%20premier%3A%20%3C%2Fstrong%3E%2432.95%20(from%20%2429.95)%3C%2Fp%3E%0A
The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

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: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now

Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

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