With Australian Open champion Roger Federer bidding for an eight Dubai crown, Ahmed Rizvi looks back on the 18-time grand slam champion’s seven previous triumphs at the Aviation Club.
2003 final – Beat Jiri Novak 6-1, 7-6
World ranking: No 5
Titles won in 2003: 7
Though he had won five career titles by the time he made his second trip to Dubai, Federer was yet to win a grand slam. Two quarter-final appearances, at the 2001 French Open and Wimbledon, were his best efforts in 15 appearances at the majors until then. Four months after his first Dubai triumph, the Swiss won the first of his 18 major titles, at Wimbledon, and finished the year as world No 3.
2004 final – Beat Feliciano Lopez 4-6, 6-1, 6-2
World ranking: No 1
Titles won in 2004: 11
Owner of two grand slam titles now and the world No 1, Federer started his defence with a straight-sets win over the man he had defeated a few weeks earlier in the Australian Open final, Marat Safin. It was smooth sailing from there on, not just in Dubai, but overall as Federer won three grand slam titles and three Masters.
2005 final – Beat Ivan Ljubicic 6-1, 6-7, 6-3
World ranking: No 1
Titles won in 2005: 11
Knocked out by Marat Safin in the semis of the Australian Open, Federer was keen for a rematch in Dubai, especially since the Russian boasted he had a “formula” to beat Federer. The revenge match never happened as Safin lost in the first round, but there was a memorable semi-final win over Andre Agassi and then Federer beat his current coach – Ivan Ljubicic – for the title. It was Federer’s third consecutive final against Ljubicic after Doha and Rotterdam.
2007 final – Beat Mikhail Youzhny 7-5, 5-7, 6-3
World ranking: No 1
Titles won in 2007: 8
Denied in his bid for a fourth consecutive Dubai title by Rafael Nadal in the 2006 final, Federer, resuming his season here after winning his third Australian Open crown, showed signs of rust at the start, but after a battling three-set win over Novak Djokovic in the quarter-final, it was smooth sailing. Federer finished the year with three grand slams, but lost to Nadal in the French Open final for the second year in a row.
2012 final – Beat Andy Murray 7-5, 6-4
World ranking: No 3
Titles won in 2012: 6
Upstaged by Novak Djokovic and Rafael Nadal over the past two seasons, Federer, 30 now, was fending questions about his future as he arrived in Dubai, with no grand slam title since the 2010 Australian Open and only one major final in those 24 months. Back-to-back titles in Rotterdam and Dubai, however, turned the tide and Federer went on to win his 17th grand slam title at Wimbledon, defeating Murray again. That year was his most productive season in terms of titles since 2008.
2014 final – Beat Tomas Berdych 3-6, 6-4, 6-3
World ranking: No 8
Titles won in 2014: 5
Switching to a larger racket and a new coach, Stefan Edberg, following a disappointing 2013 when he could win only one title, at Halle, and lost in the second round at Wimbledon, Federer did not have a great start to 2014. Dubai, however, turned it around for the Swiss once again. On a three-match losing streak against Novak Djokovic, he fought back after losing the first set to down the Serb in the semis and then did the same in the final to defeat Tomas Berdych. Federer reached five Masters final that year, his most since 2007, winning two. He also reached the final at Wimbledon and the ATP World Tour Finals, added the Davis Cup title to his resume and came close to wresting the No 1 ranking from Djokovic.
2015 final – Beat Novak Djokovic 6-3, 7-5
World ranking: No 2
Titles won in 2015: 6
Stunned by Andreas Seppi in the third round of the Australian Open – his earliest exit from Melbourne since 2001 – Federer showed few concerns as he arrived in Dubai, confident about defending his title. And he did it in great style, going through the week without dropping a set, playing sublime tennis in the final to upstage the reigning Australian champion and world No 1 Novak Djokovic. This was the third time Federer had cruised to the Dubai title without dropping a set after 2003 and 2012.
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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.”
Ticket prices
General admission Dh295 (under-three free)
Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free
Buy tickets at: wbworldabudhabi.com/en/tickets
Mohammed bin Zayed Majlis
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Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
The years Ramadan fell in May
Mohammed bin Zayed Majlis
The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
The biog
Favourite films: Casablanca and Lawrence of Arabia
Favourite books: Start with Why by Simon Sinek and Good to be Great by Jim Collins
Favourite dish: Grilled fish
Inspiration: Sheikh Zayed's visionary leadership taught me to embrace new challenges.
LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
Glossary of a stock market revolution
Reddit
A discussion website
Redditor
The users of Reddit
Robinhood
A smartphone app for buying and selling shares
Short seller
Selling a stock today in the belief its price will fall in the future
Short squeeze
Traders forced to buy a stock they are shorting
Naked short
An illegal practice
6.30pm: Al Maktoum Challenge Round-3 Group 1 (PA) | US$95,000 | (Dirt) 2,000m
7.05pm: Meydan Classic Listed (TB) ) | $175,000) | (Turf) 1,600m
7.40pm: Handicap (TB) ) | $135,000 ) | (D) 1,600m
8.15pm: Nad Al Sheba Trophy Group 3 (TB) ) | $300,000) | (T) 2,810m
8.50pm: Curlin Handicap Listed (TB)) | $160,000) | (D) 2,000m
9.25pm: Handicap (TB)) | $175,000) | (T) 1,400m
10pm: Handicap (TB) ) | $135,000 ) | (T) 2,000m
