Rory McIlroy is within sight of a season-ending double in Dubai after finishing the third round of the DP World Tour Championship in a three-way tie for the lead.
The Northern Irishman was already as good as assured of winning the Race to Dubai title for a sixth time when he arrived at the Earth Course at the start of the week.
He has put himself in a strong position to add the Tour Championship to his haul, as he is on 12-under par alongside Rasmus Hojgaard and Antoine Rozner ahead of Sunday’s final round.
If McIlroy can hold off the other contenders, it will be the third time he has capped a season with the Dubai double.
“It’s a great opportunity to end the year on a really high note,” McIlroy said. “I’m going to go out there tomorrow and give it everything I can and hopefully things fall my way and I’m able to stand on that 18th green with both trophies.
“I’ve been able to do it twice before [and] to do it again would be great. I’ve been really proud of my consistency, especially on this tour [this season].
“In European Tour events, and Rolex Series events, it doesn’t feel like I’ve finished outside the top five in many of them this year. It would be a great way to finish the year.”
The world No 3 might have been even better placed were it not for a disappointing finish to his third round of 68. He would have hoped for a birdie or better after landing his tee-shot at the 18th in prime position, but had to settle for a par.
“I was ready to hit, and then it just seemed like the group in front [of Joaquin Niemann and Tyrrell Hatton] weren't really hurrying to get off the back of green,” McIlroy said.
“It felt like I had to wait an extra two or three minutes for that. I let that affect me a little bit and I came out of the six iron.
“It’s hard. That’s always a hard bunker shot [from the greenside bunker] going towards the water. I left myself in a good spot and hit a good putt, but was just a little too firm on that one.”
On Sunday, McIlroy will be going out in the final match for the fourth time this week. His playing partner this time will be Hojgaard, who is aiming to keep the Tour Championship trophy in the family.
His brother, Nicolai, was the champion at Jumeirah Golf Estates 12 months ago. He has been unable to defend his title, given he did not qualify among the top 50 players in the Race to Dubai, which was the criteria to enter.
The name Hojgaard could yet be inscribed on the trophy for a second time in successive years, though. Twin brother Rasmus reached 12-under thanks to an outstanding, 6-under-par 66 on Saturday, and he thinks it would be “pretty cool” if he can emulate his sibling.
“We talked about it earlier this week how cool it would be, if another Højgaard could defend the title,” Rasmus said. “It would be quite cool if that was to happen.
“I try not to worry too much of what’s ahead of me. [I will] try and play one hole at a time and see if I can get the best score possible out of that hole, just like 18. That’s my target for tomorrow, try and keep the bogeys away.”
Hojgaard was referencing his adventures at the par-5 18th at the end of his second round. He did well to scramble a par having hit his tee-shot into the creek, then his third shot wide of the green to the right.
“It was looking more like an eight at one point,” he said. “It was incredible. It wasn't an easy pitch shot, short right, got it up and had a decent chance to hole the putt. I had already written down a six on my scorecard, so I am very happy.”
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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David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
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%3Cp%3ECreated%20by%3A%20Darren%20Star%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Lily%20Collins%2C%20Philippine%20Leroy-Beaulieu%2C%20Ashley%20Park%3C%2Fp%3E%0A%3Cp%3ERating%3A%202.75%2F5%3C%2Fp%3E%0A
DIVINE%20INTERVENTOIN
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SPAIN SQUAD
Goalkeepers Simon (Athletic Bilbao), De Gea (Manchester United), Sanchez (Brighton)
Defenders Gaya (Valencia), Alba (Barcelona), P Torres (Villarreal), Laporte (Manchester City), Garcia (Manchester City), D Llorente (Leeds), Azpilicueta (Chelsea)
Midfielders Busquets (Barcelona), Rodri (Manchester City), Pedri (Barcelona), Thiago (Liverpool), Koke (Atletico Madrid), Ruiz (Napoli), M Llorente (Atletico Madrid)
Forwards: Olmo (RB Leipzig), Oyarzabal (Real Sociedad), Morata (Juventus), Moreno (Villarreal), F Torres (Manchester City), Traore (Wolves), Sarabia (PSG)
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Silent Hill f
Publisher: Konami
Platforms: PlayStation 5, Xbox Series X/S, PC
Rating: 4.5/5
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Name: Brendalle Belaza
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