Juma Al Dhaheri, No 7 in white, of the UAE in action during their 6-1 win over Thailand in the IIHF Challenge Cup of Asia at Abu Dhabi Ice Rink, Zayed Sports City, last Saturday. They followed up that win with a 5-1 triumph over Mongolia last night to set up a potential decider against Chinese Taipei in the final round on Friday. Meanwhile, Chinese Taipei, the reigning champions, hammered Singapore 14-2 in the early game. Tonight, they meet Mongolia while Thailand face Singapore. Pawan Singh / The National
Juma Al Dhaheri, No 7 in white, of the UAE in action during their 6-1 win over Thailand in the IIHF Challenge Cup of Asia at Abu Dhabi Ice Rink, Zayed Sports City, last Saturday. They followed up thatShow more

Around the UAE: Al Wahda to host youth football tournament; Young cricketers in spotlight



Football

• Al Wahda to host youth tournament: Zamalek of Egypt, Serbia's Partizan and Al Hilal of Saudi Arabia will join local clubs Al Jazira, Baniyas and hosts Al Wahda in the Under 15 Zayed International Cup from tomorrow to March 25. The six teams will feature in a round-robin league and the side with the highest points total will be the winners. "This competition was first staged in 1993 and has been held every year with the objective of providing youngsters an early introduction to playing against foreign teams," said Adel Khamis, a member of Wahda's board of directors and the academy coordinator. In the past, the tournament has drawn academy teams from leading European clubs such as Inter Milan, Atletico Madrid, Paris Saint-Germain, Liverpool and Leeds United, and from South America Sao Paolo, Fluminense and Boca Juniors, so on.

“We rotate our invitations every year to clubs and academies all over the world,” said Khamis.

“It not only provides our boys the opportunities of playing against different opponents but it also helps our own networking to establish good relationships with clubs all over the world.

“This time, apart from Partizan, we have more of a Middle East flavour with Zamalek and Al Ahli of Saudi Arabia. The competition is also round-robin so the youngsters get maximum playing opportunities.”

Cricket

• Emirates go head-to-head for title: The best young talent from around the country will be in action in the second staging of the Al Ain Water National Cricket tournament representing four regional councils – Abu Dhabi, Dubai, Sharjah and Ajman. The inaugural competition last year was for Under 19 level and was won by the Abu Dhabi Cricket Council. An U16 category has been included this year and will be played from March 20-26, followed by the U19s from April 11-16.

“For players to represent their emirate of residency is definitely ‘top of the tree’ for these age groups and is an integral step in player development before possible national selection,” said David East, chief executive of Emirates Cricket Board.

Irshad on form with 57 for Interface: Bilal Irshad hit 57 from 33 balls and shared an 80-run stand for the second wicket with Rameez Shahzad (45) to set the platform for Interface to emerge winners over RAK Insurance by 93 runs in the Asianet Premier League Twenty20 tournament. Interface amassed 210 for five and RAK Insurance were bowled out for 117 at The Sevens grounds in Dubai. In the other match, Ibsons made 135 for seven and dismissed City Target for 120 to win by 15 runs.

Polo

• Four teams battle it out in Dubai: The St Regis International Cup gets underway with a two-match card at the Al Habtoor Polo and Resort Club in Dubai on Friday. Team UAE meet Bin Drai and Al Habtoor play Wolves in the opening day of the two week-long competition that also includes Zedan and Edrees.​

Disability sport

• Competitors have eye on Rio Games: The Fazza IPC Athletics Championship Grand Prix has drawn over 665 athletes from 49 countries vying for a ticket to the 2016 Rio Games. The championship is the last qualifying event for the summer Olympics and will be take place at the Dubai Police Club Stadium from tomorrow to Sunday. "This championship has become a major global event that is sought after by sports professionals from around the world, and this is clearly reflected in the high number of participants," said Thani Juma Berregad, chairman of the organising committee. The competition is for disabled athletes competing in various categories, including those with motor impairment, paralysis, visual and/or intellectual impairments, and amputees.

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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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