UAE Team Emirates' superstar Tadej Pogacar won his fourth consecutive Tour of Lombardy title on Saturday to round off what is perhaps the greatest season of all time.
The Slovenian had already captured the Tour de France, Giro d'Italia and the World Championship Triple Crown before destroying the opposition to cross the line in Como for victory.
In a near-identical move to his attack at the World Championships two weeks ago, Pogacar broke clear around 50 kilometres from the end. No other rider even tried to catch him as he clinched the final one-day classic of the season.
The Team Emirates rider finished three minutes and 16 seconds ahead of Olympic champion Remco Evenepoel of Soudal Quick-Step, with Lidl-Trek's Giulio Ciccone in third, 4:31 back. Pogacar chose not to take part in the Games in Paris shortly after becoming the first man in 26 years to seal the Giro d'Italia-Tour de France double.
Saturday's victory was his fourth straight triumph in the Lombardia and drew him level with Italian Alfredo Binda (1925-27 and 1931) and just one behind Italian great Fausto Coppi (1946-49 and 1954) in the 120-year -old race, the season's final Monument Classic.
Pogacar also won another Monument this year when he triumphed in the Liege-Bastogne-Liege back in the spring. Saturday's win was his 25th of the season.
The undulating and scenic autumn race in Lombardy, known as the “Classic of the Falling Leaves” started in Bergamo and finished 255 kilometres later, with riders tackling iconic climbs such as Colma di Sormano and San Fermo della Battaglia before reaching Como's famed lakefront.
An early breakaway formed into about 10 riders, who were eventually caught with 48 kilometres left, which is when Pogacar decided it was time to go. One he made his break away, there was no attempt to reel him in.
After the race, Pogacar said: “Every victory is special, and today also. The team worked so hard all year for all the victories we achieved, and today is no different. It was a big day for us, long race, hard race, and it was all dependent on our team, but we did a super good job and I’m super happy to win with the team.
"We planned it like this [the attack on Sormano]. The race is so hard that in the end the last 40km is more or less man to man. I knew if I had a decent gap on the top I can come to the finish, but you never know. There was a moment after the descent where it was false down but really fast, then a little bit up and down, and there I tried to push to win some seconds and win the mental game on this chase. Then it was one by one to the finish anyway.
"I was just enjoying the crowds, and looking forward to off-season."
Asked about the history he has made this season, he added: "Let's see what at the end of the career."
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- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
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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Company name: Jaib
Started: January 2018
Co-founders: Fouad Jeryes and Sinan Taifour
Based: Jordan
Sector: FinTech
Total transactions: over $800,000 since January, 2018
Investors in Jaib's mother company Alpha Apps: Aramex and 500 Startups
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2012-2015
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May 2017
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September 2021
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Based: Dubai and Bahrain
Sector: FinTech
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