Shane Mosley, right, throws a punch at Ricardo Mayorga of Nicaragua in the fourth round during their junior middleweight bout at the Home Depot Center.
Shane Mosley, right, throws a punch at Ricardo Mayorga of Nicaragua in the fourth round during their junior middleweight bout at the Home Depot Center.

Sport

'Sugar' Mosley not sweet at all

The former world champion 'Sugar' Shane Mosley knocked out Ricardo Mayorga near the end of the 12th round in a non-title light middleweight bout.

CARSON // The former world champion "Sugar" Shane Mosley knocked out Ricardo Mayorga near the end of the 12th round in a non-title light middleweight bout. Mosley, 37, connected with a flurry of punches to floor down his opponent. Mayorga climbed off the canvas but within seconds was flattened again, this time for a knockout confirmed at two minutes, 59 seconds of the final round. After 11 rounds, the judges had the four-times world champion Mosley winning in a split decision. "I felt him getting weaker during the fight but he was trying to stay strong," said Mosley, whose record is now 45-5 with 38 knockouts.

Mosley landed far more punches, doing serious damage to his Nicaraguan opponent in the sixth round, although the effort appeared to take a lot out of the eventual winner. Both fighters believed they were winning the fight going into the final round. "I thought I was doing well and I came out to win in the 12th round and he caught me," said the chain-smoking Mayorga. "I will tell you one thing - he hit harder than I thought he would. He took some good shots but I wore him down," said Mosley.

Mosley wants to fight the winner of the rematch between the WBA welterweight champion Antonio Margarito and Miguel Cotto but not before lining up another fight in between. Mayorga, 35, may consider retirement. On the same bill, the undefeated Andre Berto defended his WBC welterweight title with a 12-round unanimous decision over Steve Forbes. Berto, 25, now 23-0 with 19 knockouts, outpunched Forbes, 31, in the longest fight of his career. Edgar Sosa defended his WBC light flyweight title with a 12-round points win over Sonny Boy Jaro in Mexico City while, in Hamburg, Guillermo Jones stopped Firat Arslan in the 10th round to claim the WBA cruiserweight title at the Color Arena.

The undefeated Indian heavyweight Guru Nagra knocked out Colin Kenna in the fourth round at the Bracknell Leisure Centre in Berkshire. * Reuters

Schedule:

Friday, January 12: Six fourball matches
Saturday, January 13: Six foursome (alternate shot) matches
Sunday, January 14: 12 singles

Our legal advisor

Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.

Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation. 

Education: Sagesse University, Beirut, Lebanon, in 2005.

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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