AL AIN // After a weekend of personal and collective triumph, Adel Al Hendi allowed himself a brief moment of showboating as the UAE clinched third place in the Asian Development Sevens.
With victory against Jordan in the penultimate match of the tournament secured, the UAE playmaker finished off a final-play try with a lavish dive.
It was not quite the “Ash Splash” made famous by the England winger Chris Ashton, more a “Hendi Hurdle”.
Whatever it is called, it was a surprise the young Abu Dhabi Harlequins winger had the energy to do anything but flop over the line by that stage.
To say he was the heartbeat of a UAE side who had performed admirably in finishing third in their home event, after their season of toil in Asia, is understating the point.
He was the side’s kicker, creator, enforcer, motivator and most other things in between. He had been up late the night before, too, celebrating the UAE Premiership success with his Harlequins clubmates in Dubai.
“As soon as I was done with my UAE commitments, I wanted to go down and watch the boys,” he said, reporting that he celebrated for 30 minutes at The Sevens but was back in Al Ain by midnight. “They pulled it off. We were underdogs going into that match, but we performed awesomely.”
Given the local rivalry in a tournament involving Afghanistan, Jordan and Iran – who beat Lebanon 10-5 in the final – it was no surprise there were some bruising hits in Al Ain.
The UAE finished their final pool match against Afghanistan and the third-place play-off against Jordan playing against six players.
The Emiratis, though, held their own in the physicality stakes. In Al Hendi’s case, he punched well above his slight frame, essaying a string of tackles that were as notable for their timing as they were their power.
He made a last-ditch, game-saving try against Afghanistan, then set the tone against Jordan with a colossal hit in the opening play of the play-off.
“Our defensive structure is good, we drift well, but then it is all about making that tackle,” Al Hendi said. “A few of us like to set the example. Dumbell [Mohammed Hassan] made some massive hits, and Cyrus [Homayoun, the team’s captain], his shoulder has gone because he has been making so many hits.”
Roelof Kotze, the UAE coach, said finishing third was a significant boost to a side who had only known a losing feeling on the Asian Sevens Series.
“It has been a good experience because you have to learn to win,” Kotze said. “It is a sign we are starting to believe in what we do. The players are very disappointed they didn’t make the final.”
pradley@thenational.ae
Follow us on twitter at @SprtNationalUAE
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Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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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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Hotel Data Cloud profile
Date started: June 2016
Founders: Gregor Amon and Kevin Czok
Based: Dubai
Sector: Travel Tech
Size: 10 employees
Funding: $350,000 (Dh1.3 million)
Investors: five angel investors (undisclosed except for Amar Shubar)
JUDAS AND THE BLACK MESSIAH
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Four stars