Abu Dhabi Saracens 22 Doha 31
Abu Dhabi Saracens Tries: Qinisile, Van Niekerk, Steyn; Cons: Hamilton 2; Pens: Hamilton
Doha Tries: McLelland 2, Elisara, Lotter; Cons: Tremayne 4; Pens: Tremayne
Man of the match Aaron McLelland (Doha)
ABU DHABI // Aaron McLelland’s inspired display at full back helped Doha avenge last season’s West Asia title defeat to Abu Dhabi Saracens at Al Ghazal on Friday night.
McLelland, a New Zealander who is a 21 – and “about 21 kgs as well,” according to Doha’s coach Aaron Palmer – scored two stunning tries and set up another for the side from Qatar.
His first score was a from deep in his own 22 against a set defence, where no Saracens player was able to lay a hand on him.
His speed also brought about the decisive – and disputed –score in the second half, which put the game beyond the home side.
“He has a bit of gas and we had to work out how to best utilise that,” Palmer said of McLelland. “We needed to let him have a look at what was in front of him, and he did.”
It was a second home defeat in successive weeks against sides from the Gulf Premiership for Saracens.
Read more: 'Huge difference between home and away': Muscat ready for return to West Asia Championship
Craig Nutt, their player-coach, acknowledged it will be tough to retain their grip on the title after the start they have made.
“We are really disappointed because I don’t think whoever wins this [West Asia Championship] will lose two games,” Nutt, who plays in the Saracens front row, said. “We will just play a game at a time and hopefully some sides will do us some massive favours.
“They scored at crucial times, when I think the old Saracens would have folded. But it shows the character of the team we have here that we scored the last try and put them under some pressure, which they don’t have very often.”
Doha have won all 12 matches they have played since September as they target a clean sweep of trophies in the 15-a-side game.
Having won the season opening Champions League, they are clear at the top of the Gulf Premiership, and now have two wins from two in the West Asia Championship.
Palmer reckoned their trip to face Saracens was the biggest test they have faced in the 2015/16 to date, and he was delighted with the way victory was secured.
“It is Saracens at home, they have good defence and this is probably the toughest game we have had in six months,” Palmer said.
“As long as we could keep continued pressure in their half, that was our plan. We wanted to keep them down their end. It worked in the end.”
Dubai Exiles claimed arguably the best result of their comeback campaign to date, after winning 24-15 in Bahrain in the only trip they have to make outside of the UAE this season.
Muscat endured less toil in their second trip to The Sevens, Dubai in successive weeks. On the same pitch where they had been thrashed 144-5 by Exiles the previous weekend, they lost out 55-5 to Dubai Hurricanes.
Jebel Ali Dragons beat Al Ain Amblers 54-24 in the fourth match of the afternoon.
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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.”