Hassan Mohammed, right, scored for Al Nasr but it wasn’t enough Tuesday night in Dubai. Afsal Sham / Al Ittihad
Hassan Mohammed, right, scored for Al Nasr but it wasn’t enough Tuesday night in Dubai. Afsal Sham / Al Ittihad
Hassan Mohammed, right, scored for Al Nasr but it wasn’t enough Tuesday night in Dubai. Afsal Sham / Al Ittihad
Hassan Mohammed, right, scored for Al Nasr but it wasn’t enough Tuesday night in Dubai. Afsal Sham / Al Ittihad

Asian Champions League: Al Nasr's all-Emirati line-up cannot tame Sepahan


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Al Nasr 1 Sepahan 2
Al Nasr Mohammed 71'
Sepahan Dalovic 30', Gholami 79'

DUBAI // Al Nasr's fruitless run in the Champions League continued Tuesday night when they suffered their fifth defeat in as many games, losing 2-1 to Iran champions Sepahan.

Radomir Dalovic gave the visitors a 30th-minute lead and Mohammed Gholami made it 2-1 in the 79th minute after Hassan Mohammed had levelled the score for the hosts.

But the win was of little consolation for Sepahan as the 2-2 draw between Al Gharafa and Al Ahli earlier in the evening had already put them out of the reckoning for a place in the second round.

However, the Sepahan coach, Zlatko Kranjcar, was "satisfied" with the efforts of his players in the game and he also congratulated Nasr boss Walter Zenga for starting an all-Emirati XI.

"I congratulate Nasr for playing a great game," Kranjcar said. "They surprised us with their starting line-up and their players seemed really determined to win.

"They went shoulder to shoulder with our team and both teams created plenty of scoring opportunities.

"So, I have to be satisfied with this win."

As the Nasr team took the pitch, many of their fans must have been surprised.

There was no Bruno Correa and Leonardo Lima, Giuseppe Mascara and Takayuki Morimoto were on the bench.

Even Habib Fardan was not included in the starting XI. With Nasr out of contention for a place in the second round of the Champions League and facing some crucial games at home in the coming weeks, Zenga had decided to give his top players some much-needed rest.

"I am very happy with the performance of the team," Zenga said. "They played a great game. I believe we were better than the opposition throughout the 90 minutes.

"It is true that we lost the game, but we have won in the spirits stake because we started with all Emirati players. This is the first time it's happening in the UAE."

The Italian goalkeeping legend seemed most-pleased with the manner in which Mohammed equalised for the hosts in the 71st minute. The striker slipped in at the far corner to boot home Hassan Ameen's cross. Across the last two days, they had been practising that move in training.

"We scored the goal in exactly the same way we have been practising and that is why it was so pleasing," Zenga said.

"Hassan, in my opinion, is one of the best young strikers in the UAE. This season, unfortunately, he was not able to show his real face, but I hope he will continue in this way."

Man of the match Mohammed Reza Khalatbari (Sepahan)

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Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
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Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India

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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.

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5.30pm: Handicap (PA) Dh90,000 1,400m​​​​​​​
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6pm: Handicap (TB) Dh100,000 1,400m​​​​​​​
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6.30pm: Abu Dhabi Championship Listed (PA) Dh180,000 1,600m​​​​​​​
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami.

7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,600m​​​​​​​
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