MELBOURNE // Boundless success has its drawbacks, as Sebastian Vettel can attest.
The German's domination of Formula One's world championship last year has left him with an interior design issue: the trophy cabinet he planned for his living room is too small.
That shelf has been shelved.
Back to the drawing board.
The Red Bull Racing driver, who it is easy to forget is only 24 years old, collected 18 trophies from 20 races last year and finished the season by being presented the Drivers' Championship vase at the FIA gala dinner in India. Where does he display the most coveted trophy in motorsports?
"On the middle of my kitchen table," he said Wednesday, apologetically.
"Not with the cornflakes. I'm German. It has to be precise. You can't mix the cornflakes with the world championship trophy."
Yet if Vettel's rivals expect him to take his foot off the accelerator in the hope of avoiding cluttering his home any further, they need not bother. The two-time world champion has no such intentions; he is as determined as ever to continue adding to his growing collection of silverware.
"Winning the first world championship was a great relief in many ways because you have proven to yourself that you can do it," said Vettel, who became the sport's youngest world champion when he won the season-ending Abu Dhabi Grand Prix in 2010.
"But that doesn't mean you don't care what happens next. It is the opposite: you know it all starts again, everyone starts from zero and you want to win it again. So, I have never had to ask myself the question, 'Do I want this again' or 'Why am I here?'
"Nothing has changed. I am still hungry, and I am still getting upset when there is someone else beating me."
He was beaten so rarely last year that he secured the championship with four races remaining. This year he hopes to do the same again, and if he does he will become only the third driver to win three successive titles. His quest begins this weekend at Sunday's Australian Grand Prix, but with pre-season testing providing little clues as to the lay of the land, he is prepared for anything.
"It would be completely immature to believe that nothing ever goes wrong," Vettel said. "From what I have seen so far, and what I have had to go through so far, I should be smart enough to know that it doesn't always go your way. You never know what is going to happen, but it would be pretty boring if we did."
Mark Webber, Vettel's Australian teammate, is the man of the moment this week ahead of Friday's opening practice session at Albert Park. The 35 year old closed the 2011 season with a victory at Interlagos and he would enjoy nothing more than winning in front of his compatriots on Sunday.
With six world champions on the grid this year, the challenge facing Webber is tougher than ever, yet for a man who so often appears impassive, his excitement Wednesday was unmistakable.
During a promotional event on St Kilda beach, Webber and Vettel both looked relaxed, enjoying a spot of cricket in the sand, despite being swarmed by fans, media and bewildered beachgoers.
"We have a sensational season ahead of us," Webber said.
"There is no guarantee, but I feel there are going to be some really good moments this year. There will be some headwinds - that is normal - and over a long season things can happen to the drivers where we have to deal with adversity here and there, but I am excited about the whole season and looking forward to getting some fantastic results."
Webber knows actions speak louder than words though: he has never finished higher than fifth in his home race.
"I can say awesome things we are going to do, but we have to actually go and do it," he said. "They have to get done."
gmeenaghan@thenational.ae
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Our Time Has Come
Alyssa Ayres, Oxford University Press
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Trippier bio
Date of birth September 19, 1990
Place of birth Bury, United Kingdom
Age 26
Height 1.74 metres
Nationality England
Position Right-back
Foot Right
If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
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.”
MATCH INFO
Uefa Champions League semi-final, second leg result:
Ajax 2-3 Tottenham
Tottenham advance on away goals rule after tie ends 3-3 on aggregate
Final: June 1, Madrid
Brief scores:
Day 1
Toss: India, chose to bat
India (1st innings): 215-2 (89 ov)
Agarwal 76, Pujara 68 not out; Cummins 2-40
New Zealand 21 British & Irish Lions 24
New Zealand
Penalties: Barrett (7)
British & Irish Lions
Tries: Faletau, Murray
Penalties: Farrell (4)
Conversions: Farrell
COMPANY%20PROFILE
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