Aaron Finch put on a 163-run stand with David Warner against England on Sunday. Robert Prezioso / Getty Images
Aaron Finch put on a 163-run stand with David Warner against England on Sunday. Robert Prezioso / Getty Images
Aaron Finch put on a 163-run stand with David Warner against England on Sunday. Robert Prezioso / Getty Images
Aaron Finch put on a 163-run stand with David Warner against England on Sunday. Robert Prezioso / Getty Images

Aaron Finch not taking England lightly despite Australia’s ODI win


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Aaron Finch said there was no danger that Australia would take England’s challenge lightly despite cruising to a comfortable six-wicket victory in the opening one-day international on Sunday in Melbourne.

Australia whitewashed England 5-0 in the Ashes Test series and continued their dominance in the shorter form with Finch smashing 121 as England’s 269 for seven was overhauled with just four wickets down and with 26 balls to spare.

But Finch was keen to point out it had not been an easy encounter.

“They are a quality one-day side and we saw even if they lost a couple of wickets up front they were still able to get 270 and attack quite hard at the back end,” he said.

“They are third in the rankings – you don’t get to that level by not being good. They are an outstanding side.

“To start the series so well, with the bat especially, was nice to continue the momentum that the Test side have created.”

Finch rode his luck early in his innings but quickly seized control, racing to 50 from 47 balls and outpacing opening partner David Warner.

Finch and Warner put on 163 for the opening wicket but not without some controversy.

Warner was given a reprieve by the television umpire when he was on 22 despite the Australian opener accepting that a low catch claimed by wicketkeeper Jos Buttler had ­carried.

Warner, who had walked to the boundary, was recalled to the middle and went on to make 65.

Alastair Cook, the England captain, said: “It might be my English eyes on it but I thought it was a pretty clean catch.

“It hit his fingers and bounced up. I only saw it a couple of times on the big screen and I thought it was the wrong decision.

As to England’s latest setback, Cook said: “It’s tough when you keep losing games of cricket to keep confidence up.

“We just need to somehow stop the rot. It’s amazing then how quickly it can turn around.”

The second ODI in the five-match series is in Brisbane on Friday.

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UAE jiu-jitsu squad

Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)

Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)

Scorecard

Scotland 220

K Coetzer 95, J Siddique 3-49, R Mustafa 3-35

UAE 224-3 in 43,5 overs

C Suri 67, B Hameed 63 not out

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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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Engine 3.9L twin-turbo V8 
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Saturday's results

West Ham 2-3 Tottenham
Arsenal 2-2 Southampton
Bournemouth 1-2 Wolves
Brighton 0-2 Leicester City
Crystal Palace 1-2 Liverpool
Everton 0-2 Norwich City
Watford 0-3 Burnley

Manchester City v Chelsea, 9.30pm