First it was the European competitors from the former Soviet republics who upset the Asian Games. Now it is the African-born athletes competing for Arabian Gulf states, as the debate over the event's identity looks set to heat up.
The Olympic Council of Asia (OCA) said it is working towards admitting Pacific nations in future Games, paving the way for countries such as Australia and New Zealand to take part.
This offers the possibility of compelling clashes in the pool between swimming superpower Australia and current Asian powerhouses China and Japan.
But it will also raise fresh questions about the “Asian” character of the Olympic-style event.
Athletes, born in Africa and running for Qatar and Bahrain, have dominated the track events for three successive Games. In the 1990s, athletes made similar comments about the blond athletes from Kazakhstan, Uzbekistan and other Central Asian republics who looked east after the collapse of the Soviet Union.
They are now big medal winners, but are accepted.
Qatar and Bahrain between them won 15 athletics gold medals in Incheon, putting them second and third behind China. But 13 of those 15 were claimed by competitors who had switched nationality from African states.
The head of India’s Asian Games delegation, Adille Sumariwala, led the criticism after his squad dropped two places in the medal table from Guangzhou 2010.
“I don’t think this is fair,” former national 100-metre sprint champion Sumariwala said.
“These are the Asian Games, not African Games.”
Nigeria-born Femi Ogunode set an Asian record in the 100m with a time of 9.93 seconds – no Asia-born runner has broken the 10-second barrier – and completed a double with gold in the 200m.
China’s 100m silver medallist Su Bingtian also called the Arab Gulf states’ African contingent “unfair”.
“They are taller and have a longer stride,” he said. “They are more powerful and athletic. Physically, we are at a disadvantage.”
Imports continued a dominance in track events that stretches back to the 2006 Doha Games when Kenya-born runners won the men’s 800m, 1500m, 5,000m, 10,000m, 3000m steeplechase and marathon.
The UAE's two middle-distance runners – Bethlem Desaleyn and Ali Saeed, who won gold in the 10,000m – were born in Ethiopia.
At the 2010 Guangzhou Games, Bahrain and Qatar’s African runners again dominated the men’s long-distance track events, taking all six medals in the 5,000m and 10,000m
In Incheon, as well as the medals they won, African-born athletes claimed six of the 11 Asiad track records to fall.
For athletes from traditional middle- and long-distance powerhouses such as Kenya, Ethiopia and Morocco, the attractions of switching to Arab Gulf teams are obvious.
Aside from the income and facilities offered, the athletes walk into the national teams of their adopted states, giving them more opportunities to compete in big events.
Bahrain’s Albert Kibichii Rop, formerly Kenyan, who took 5,000m bronze in an all-African-born podium last week, was frank.
“It’s hard to make the team in Kenya. Everyone is very strong,” he said.
“I sought a way to get on.”
Sheikh Ahmad Al Fahad of Kuwait, the OCA president, said he would prefer to see native-born athletes competing and becoming “heroes for the new generation”, but the Games are bound by rules.
“In the end there’s an Olympic charter that says three years and they can represent a [different] country,” he said.
“If the law allows this, we can’t resist it. We have to respect it. We hope that the local athletes are in the majority, but in the end this is sport.”
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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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