Kevin Pietersen hasn't played Test cricket for England since January 2014. Sarah Dea / The National
Kevin Pietersen hasn't played Test cricket for England since January 2014. Sarah Dea / The National
Kevin Pietersen hasn't played Test cricket for England since January 2014. Sarah Dea / The National
Kevin Pietersen hasn't played Test cricket for England since January 2014. Sarah Dea / The National

‘326 is a pretty good argument’ for Kevin Pietersen but, reportedly, not good enough


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Andrew Strauss is expected to confirm on Tuesday that he has blocked a Test return for England outcast Kevin Pietersen, just hours after the Surrey star smashed a career-best 326.

The England and Wales Cricket Board’s new director of cricket Strauss met Pietersen on Monday night, and is reported to have told the 34-year-old he has not earned a Test reprieve after 15 months in exile.

Pietersen blasted a maiden triple century in Surrey’s County Championship clash with Leicester at The Oval on Monday, and then declared: “I think I deserve my England place.”

New England chief Strauss will address the media for the first time at Lord’s on Tuesday, where Pietersen will once again be the focus.

The 104-Test star was handed hope of returning to the England fold by incoming ECB chairman Colin Graves last month.

Strauss’s arrival to replace the unseated Paul Downton looks to have dashed the former Nottinghamshire run-maker’s chances, however.

Former Daily Mirror editor and Pietersen's close friend Piers Morgan claimed on Twitter that Strauss would block any recall for the Surrey star.

Rumours later emerged that last night’s meeting had not gone as Pietersen had planned, the big-hitting showman seemingly unable to sway Strauss with his stunning innings against Leicester.

England still need to launch their search for a new coach in earnest following Peter Moores’s sacking, and Strauss would have hoped to plot a new course at Tuesday’s press call.

Instead the former England captain will be forced to justify leaving Pietersen out in the cold despite his impressive early-season form.

Pietersen was sacked in February 2014 following England’s disastrous Ashes series whitewash in Australia, but the national side’s problems off the field and on it have kept him constantly in the public consciousness.

Pietersen himself was almost staving off the resignation of another snub immediately after his mammoth innings, that he labelled among the best of his career.

“All I’ve been asked to do by the chairman-elect is to get a county and get runs,” said Pietersen.

“I’ve got runs, I’ve got a county and I do believe I’m good enough to play for England.

“All I can do is score runs, that’s it.

“The pressure I was under this morning, that’s one of the best innings I’ve ever played – purely because I knew that tomorrow there’s a press conference, and I knew that there were things happening this evening.

“So I knew that I needed to basically answer any questions with runs on the deck.

“And goodness: 326 is a pretty good argument.”

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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.”

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