Black Caviar lost weight during a 30-hour flight from Australia via Sharjah but is fine now. Alan Crowhurst / Getty Images
Black Caviar lost weight during a 30-hour flight from Australia via Sharjah but is fine now. Alan Crowhurst / Getty Images
Black Caviar lost weight during a 30-hour flight from Australia via Sharjah but is fine now. Alan Crowhurst / Getty Images
Black Caviar lost weight during a 30-hour flight from Australia via Sharjah but is fine now. Alan Crowhurst / Getty Images

Black Caviar sends rivals packing


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NEWMARKET, ENGLAND // It was impossible to escape the overwhelming sense of how good Black Caviar really is in Newmarket today.

Ahead of next week's Royal Ascot meeting, the international sprint brigade were out in force and went through their paces on the town's varied gallops in front of the media, except the assembled pack had come to see just one horse.

Just Black Caviar's presence in next Saturday's six-furlong Diamond Jubilee Stakes was enough to persuade Derek Cruz, the trainer, that Joy And Fun, the 2010 Al Quoz sprint winner, should feature in the King's Stand Stakes on Tuesday instead.

"Why are you running in the five-furlong race?", Cruz was asked. "Because we want to stay away from Black Caviar," the Hong Kong trainer said. "She is a very smart horse and should win again."

Paul Messara, trainer of this year's Al Quoz sprint winner, Ortensia, has already elected to run in the King's Stand, while Danny Shum, the trainer of Little Bridge, another Hong Kong raider, was slightly more diplomatic in choosing the first sprint contest of the five-day meeting.

"It's his best distance," he said, despite that both of Little Bridge's Group 2 successes were over a furlong further.

Only Fawzi Nass, the trainer of Krypton Factor, the Dubai Golden Shaheen winner, showed a hint of defiance. "I am consistently told that Black Caviar will beat us," he said, refusing to concede his charge was second best.

And connections of the unbeaten mare were not in a mood to shield the media from the brilliance of their 11-time Group 1 winner, either. Black Caviar has been safely ensconced in Sheikh Mohammed bin Khalifa's Abington Place stables since last week, and although she lost nine kilograms during her 30-hour flight from Australia she is in the picture of health as she bids for her 22nd consecutive success.

"If that King's Stand race was run at the Melbourne Spring Carnival it would be the race of the week due to the depth of it," said Jeff O'Connor, the racing manager to the trainer Peter Moody. "Everyone has acknowledged Black Caviar by not wanting to run against her, which is an outstanding accolade."

"If Peter is happy with her and she lines up she won't be beaten.

"There's no risk of not being good enough but it will have to be something like her injuring herself. A horse would have to run well above its highest ever rating to even get near her."

Being blessed with such a horse is not without its problems. O'Connor said Moody would live up to his name when he arrived overnight as he is racked with anxiety, like the mare's syndicate owners.

"The owners will be so nervous," he added. "I've been with them for each of her 21 wins and in the lead-up to her races they are physically sick and just don't sleep. This will be worse as they'll be in a plane for 24 hours and all they'll be thinking about will be, 'are we going to be beaten?'

"This pressure will only stop growing when Peter decides to call it a day and retires her. We'll take a month off then and look back on it all but until then the pressure will be always there as long as she is unbeaten."

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The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

MATCH INFO

Who: UAE v USA
What: first T20 international
When: Friday, 2pm
Where: ICC Academy in Dubai

UAE currency: the story behind the money in your pockets
UAE%20v%20West%20Indies
%3Cp%3EFirst%20ODI%20-%20Sunday%2C%20June%204%20%0D%3Cbr%3ESecond%20ODI%20-%20Tuesday%2C%20June%206%20%0D%3Cbr%3EThird%20ODI%20-%20Friday%2C%20June%209%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EMatches%20at%20Sharjah%20Cricket%20Stadium.%20All%20games%20start%20at%204.30pm%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3EUAE%20squad%3C%2Fstrong%3E%0D%3Cbr%3EMuhammad%20Waseem%20(captain)%2C%20Aayan%20Khan%2C%20Adithya%20Shetty%2C%20Ali%20Naseer%2C%20Ansh%20Tandon%2C%20Aryansh%20Sharma%2C%20Asif%20Khan%2C%20Basil%20Hameed%2C%20Ethan%20D%E2%80%99Souza%2C%20Fahad%20Nawaz%2C%20Jonathan%20Figy%2C%20Junaid%20Siddique%2C%20Karthik%20Meiyappan%2C%20Lovepreet%20Singh%2C%20Matiullah%2C%20Mohammed%20Faraazuddin%2C%20Muhammad%20Jawadullah%2C%20Rameez%20Shahzad%2C%20Rohan%20Mustafa%2C%20Sanchit%20Sharma%2C%20Vriitya%20Aravind%2C%20Zahoor%20Khan%0D%3C%2Fp%3E%0A

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.”

UAE currency: the story behind the money in your pockets
THE%20SPECS
%3Cp%3EEngine%3A%203-litre%20V6%20turbo%20(standard%20model%2C%20E-hybrid)%3B%204-litre%20V8%20biturbo%20(S)%0D%3Cbr%3EPower%3A%20350hp%20(standard)%3B%20463hp%20(E-hybrid)%3B%20467hp%20(S)%0D%3Cbr%3ETorque%3A%20500Nm%20(standard)%3B%20650Nm%20(E-hybrid)%3B%20600Nm%20(S)%0D%0D%3Cbr%3EPrice%3A%20From%20Dh368%2C500%0D%3Cbr%3EOn%20sale%3A%20Now%3C%2Fp%3E%0A
Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Simran

Director Hansal Mehta

Stars: Kangana Ranaut, Soham Shah, Esha Tiwari Pandey

Three stars

ULTRA PROCESSED FOODS

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- Margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars

- Energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- Infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes

- Many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory