New Zealand players applaud after defeating England in the second Test at Headingley on Tuesday. Philip Brown / Action Images / Reuters / June 2, 2015
New Zealand players applaud after defeating England in the second Test at Headingley on Tuesday. Philip Brown / Action Images / Reuters / June 2, 2015

Brendon McCullum’s New Zealand no longer punching up – they’re true heavyweights



New Zealand did more than enough against England to prove they are worth much more than a two-Test series shoe-horned into the schedule as a tasty appetiser before the Ashes.

Supremely positive, aggressive and efficient, the Black Caps amply justified their status as the world’s third-ranked Test side in a 1-1 draw with their hosts which fluctuated from the first ball to the last.

New Zealand are a team to be reckoned with.

Martin Guptill and Tom Latham form a contrasting and exciting opening partnership.

Kane Williamson at No 3 has a water-tight technique and the potential to be one of the world’s finest batsmen.

Ross Taylor, a class act at No 4, showed a welcome return to form after a barren run and captain Brendon McCullum is simply one of the most destructive batsmen in world cricket.

But there is much more.

BJ Watling, Luke Ronchi and Mark Craig combine in a middle-order capable of adapting to any match situation. Corey Anderson adds another attacking dimension.

The tail can more than wag too with Tim Southee, Matt Henry and Trent Boult all capable of scoring quick runs against a tiring attack.

That trio also provide a penetrative and versatile pace bowling attack.

Left-armer Boult is quick and hostile while Southee hits the deck hard and gets movement in the air and off the pitch.

Henry is a more than useful third seamer, fast, accurate, and consistent enough to give his captain an element of control.

Craig is an under-rated spinner, economical, naggingly accurate and a weapon especially against left-handed batsmen.

New Zealand also excel in the field.

Taylor, Craig and Guptill are a ruthlessly efficient slip-catching unit, Watling or Ronchi quietly efficient wicketkeepers and McCullum sets an example in energetic outfielding which constantly keeps opponents under pressure.

Make no mistake about it. New Zealand, World Cup finalists this year, are the real deal.

After years of punching above their weight, they deserve to be recognised as one of the forces in the modern game.

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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.”

Most match wins on clay

Guillermo Vilas - 659

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Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.

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How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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