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Melzer shining while the big names fall



The Austrian sees off intimidating Cilic Withdrawals and defeats for top seeds have given him an easier run than he expected William Johnson Chief Sports Writer DUBAI // Jurgen Melzer has struggled more than most in the recent past dealing with the booming serve and solid all-court game of Marin Cilic, an intimidating 6ft 6ins Croatian despite the most pleasant of off-court demeanours. Four times in five previous meetings - most recently in Zagreb earlier this month - Cilic, the world No 8, has got the better of the plucky Austrian but it was the notable exception to that trend that convinced Melzer that he has the ability to even the score one day.

A straight-sets victory in the final of the 2009 Vienna tournament in front of a delighted home crowd gave Melzer belief that he is capable taking the significant step up in class from "dangerous floater" in various draws around the world to genuine title contender. He is certainly setting his sights on a third career triumph and his biggest honour yet in the Dubai Tennis Championships, especially in view of the way the usual suspects for the big prizes have been falling alarmingly off the Aviation Club radar.

When the 31st-ranked Melzer first looked at the draw on Sunday morning, he anticipated that his reward for coming through a searching opening encounter with Italy's Simone Bolelli would be to provide some second-round cannon fodder for world No 1 Roger Federer as the Swiss plotted a route to a fifth success here. Federer's surprise withdrawal from what the Dubai resident regards as one of his two home events - Basle in his native Switzerland is the other - left Melzer with the much more manageable task of dealing with stand-in top seed Tommy Robredo which he accomplished in straight sets.

Discovering later that Wednesday evening that Andy Murray, runner-up to Federer in the Australian Open and a prospective semi-final opponent, had also been unexpectedly removed from his path, by Serbia's Janko Tipsarevic, the incentive to overcome Cilic became much greater. "I think beating him in Vienna made me believe that I could do it again," said Melzer, relishing the significance of a 7-6, 7-5 verdict which should bring him a career high ranking in the mid-20s next week.

He would be guaranteed that accomplishment if he goes all the way here by overcoming Russia's Mikhail Youzhny in today's semi-final and then coming out on top tomorrow in what will be a much lower-profile final than the organisers could have envisaged. "If I keep playing like this the other guy will have to play a really good match to get past me," Mel zer warned. "It is very important for me to keep beating the good guys and hopefully there is still more to come."

Few in a decent-sized Centre Court crowd would have given much for the prospects of Melzer after the first 20 minutes of what began as a one-sided encounter. Cilic was so much on top at 4-1 with break points for a 5-1 lead that Melzer looked destined for a humbling experience but the Austrian refused to buckle, held on to that crucial service game and then made what he conceded was a "lucky" break back to get himself back to parity.

He then had to save a set point in an exciting tie-break which he took 10-8 on his second point and he felt much more confident going into the second set which he took by virtue of a single break in the 12th game. Cilic realised that he had let slip a wonderful opportunity to secure his third title of the year and confirm the view that he is currently the hottest player on the Tour, having reached the Australian Open semi-finals in the only tournament he had failed to win.

"I think I could have gone a bit further here," he lamented. "I had my chances. It's not easy to understand but I'll be all right because I know I've had a good start to the year. "I have won a lot of matches already but you always need to push yourself to more and more." After next week's Davis Cup tie against Ecuador, Cilic is aiming to make more of an impact in the two important Masters Series events in the United States. Despite this setback, he will take some stopping in Indian Wells and Miami.

@Email:wjohnson@thenational.ae

Company profile

Date started: 2015

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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.”

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Election pledges on migration

CDU: "Now is the time to control the German borders and enforce strict border rejections" 

SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom" 

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