You will not find many superstars at the St Louis Blues. But that has not stopped them from rising to the top of the NHL standings.
The Blues' season started on a sour note, with Davis Payne being replaced as coach by no-nonsense bench boss Ken Hitchcock after the team limped out of the gates with a 6-7-0 record.
It was somewhat surprising that St Louis pulled the trigger so quickly on Payne but it is hard to argue with the results.
The Blues have gone 37-11-7 under Hitchcock, rocketing up the standings and winning games on the strength of their physical presence, team defence and stingy goaltending.
St Louis are not an offensive powerhouse, with no one among the NHL's top 50 scorers.
TJ Oshie, the rough-and-tumble winger, paces the Blues with 47 points in 66 games, and David Backes, the captain, leads the way with 21 goals.
The team's next top two scorers are a pair of young defencemen, Alex Pietrangelo and Kevin Shattenkirk.
St Louis rank about 20th in the league in scoring, which makes their performance this season all the more impressive.
Hitchcock demands top-to-bottom accountability when it comes to the defensive side of the puck, and the Blues have obviously bought in.
Plus, Jaroslav Halak, their No 1 goalie, has been brilliant after a bumpy start, while back-up Brian Elliott has been an absolute revelation, leading NHL netminders in goals-against average and save percentage all year.
Heading into the home stretch of the regular season, Elliott (1.63) and Halak (1.86) are one-two in GAA, while Elliott is first in save percentage (.937) and Halak sixth (.926). If one of them slumps - not that there has been any indication of that happening - St Louis can rotate in the other without missing a beat.
The good news for the Blues - and bad news for the rest of the NHL - is that St Louis appear to be on the way to becoming a more dangerous offensive club.
David Perron, a young and talented winger, has 32 points in 43 games after missing the first two months of the season because of concussion symptoms.
The centre, Andy McDonald, missed nearly 50 games because of yet another concussion, but he is back and has scored three times in his past three outings.
Patrik Berglund and Chris Stewart have been underwhelming this season, but a strong finish by either one - or both - would hardly be surprising.
Jason Arnott might be 37 years old but he is a proven play-off winner - with a Stanley Cup-winning goal in overtime to his credit (in 2000 with the New Jersey Devils).
St Louis have never won the Stanley Cup.
That might not change this season, but they have joined the ranks of the league's elite contenders, and they have got as good a shot at a championship as anyone else.
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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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Fuel economy, combined: 12.7L / 100km
The specs
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Transmission: Eight-speed auto
Price: From Dh299,000 ($81,415)
On sale: Now
Ticket prices
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KILLING OF QASSEM SULEIMANI
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Killing of Qassem Suleimani
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Grigor Dimitrov (BGR) v Roger Federer (SUI)
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Adrian Mannarino (FRA) Novak Djokovic (SRB)
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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MATCH INFO
Champions League quarter-final, first leg
Ajax v Juventus, Wednesday, 11pm (UAE)
Match on BeIN Sports
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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