Thorbjorn Olesen won his eighth DP World Tour title in convincing fashion as he fired a closing 67 at the Ras Al Khaimah Championship, finishing at 27 under overall.
The Dane entered the final day four shots clear of Rasmus Hojgaard but saw that lead wiped out within seven holes as his countryman made a blistering start.
A stunning eagle and three-shot swing on the next completely changed the complexion of the day, however, and Olesen eased to a six-shot win.
Hojgaard signed for a 69 to finish at 21 under, one shot clear of Frenchman Frederic Lacroix, who ended his week with a 68. Olesen's total of 261 – which included a course-record equalling 62 on Friday – is the lowest of the season, with his score to par also the lowest of the season by seven strokes.
His six-shot winning margin is also the biggest of the season so far and Olesen has now won in three consecutive seasons and seven times out of eight when holding the 54-hole lead. He moves up to sixth in the Race to Dubai Rankings in Partnership with Rolex and could go as high as 57th on the Official World Golf Ranking, his highest position since June 2019.
"It's very special," said UAE-based Olesen, whose family were present to see his win. "Standing here with (son) Cooper makes it a little more special.
"It was still a battle out there, it got close and you've got one of the most solid players right behind you so I knew it was going to be tough and we were tied for the lead very quickly.
"I played some nice golf coming in and holed the right putts at the right time. To win was a goal and it was nice to get that here, especially being here at my new home. It's always a place I like to come to, not just for golf but for holidays. It's a great place and I'm really happy that I could get a win here.”
Both Olesen and Hojgaard birdied the first after beautiful approaches to inside ten feet but Olesen found the waste area down the left off the second tee and needed four blows to get on the green, surrendering a double-bogey and seeing his lead cut to two.
He went left again off the next tee with Hojgaard looking at 13 feet for eagle but Olesen recovered and drained a 36-footer for birdie as Hojgaard two-putted. The 22-year-old did not lose momentum after that setback, however, playing a stunning bunker shot to get up and down on the driveable par-four fifth and sending his tee-shot right over the flag at the seventh to join the lead.
It was then a tale of two second shots on the par-five eighth, as Olesen left himself six feet for eagle and Hojgaard hit a shank, with the resulting three-shot swing turning the day on its head. Olesen led by four after a 25-footer on the tenth and while Hojgaard hit back on the par-three 11th with a tee-shot to five feet, he missed a short effort to three-putt the 13th.
Both men got up and down for birdie on the par-five 14th and when Olesen recovered from a ragged tee-shot to par the 17th and Hojgaard missed a seven-footer for birdie, he took a four-shot lead to the treacherous tee at the par-five last.
Daniel Gavins made a double-bogey on the 72nd hole last season en route to victory but there was no such drama this time around as Olesen got up and down from the sand for a birdie, while Hojgaard dropped a shot after finding the water.
Lacroix is back on the DP World Tour after a second graduation from the European Challenge Tour last season and secured his best result to date, carding six birdies and two bogeys in round four.
German duo Maximilian Kieffer and Yannik Paul, Japan's Keita Nakajima, Englishman Callum Shinkwin and South African Brandon Stone finished the week ten shots off the lead.
Sheer grandeur
The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.
A clear distinction between the residences and the Raffles hotel with the amenities operated separately.
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
The%20Caine%20Mutiny%20Court-Martial%20
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EWilliam%20Friedkin%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EKiefer%20Sutherland%2C%20Jason%20Clarke%2C%20Jake%20Lacy%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
Match info:
Real Betis v Sevilla, 10.45pm (UAE)
MATCH INFO
Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium, Malayisa
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD
* Second leg in Australia on October 10
Dengue%20fever%20symptoms
%3Cul%3E%0A%3Cli%3EHigh%20fever%3C%2Fli%3E%0A%3Cli%3EIntense%20pain%20behind%20your%20eyes%3C%2Fli%3E%0A%3Cli%3ESevere%20headache%3C%2Fli%3E%0A%3Cli%3EMuscle%20and%20joint%20pains%3C%2Fli%3E%0A%3Cli%3ENausea%3C%2Fli%3E%0A%3Cli%3EVomiting%3C%2Fli%3E%0A%3Cli%3ESwollen%20glands%3C%2Fli%3E%0A%3Cli%3ERash%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3EIf%20symptoms%20occur%2C%20they%20usually%20last%20for%20two-seven%20days%3C%2Fp%3E%0A
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.”
'Texas Chainsaw Massacre'
Rating: 1 out of 4
Running time: 81 minutes
Director: David Blue Garcia
Starring: Sarah Yarkin, Elsie Fisher, Mark Burnham
