Cabanas aiming for World Cup



MEXICO CITY // All the Paraguay forward Roberto Cabanas can think of nine days after being shot in the head is returning to training and getting to the World Cup, according to the president of his Mexican club America. The 29-year-old Cabanas was shot in a bar in Mexico city in the early hours of January 25 after an argument with another man, according to police, who are still looking for a suspect.

"It's what he's thinking about, he's spoken to the doctor about it and that's very good because it motivates him," America president Michel Bauer told Televisa. "He already wants to be training, as well as mentioning the subject of the World Cup," he added of the burly forward who played a major role in Paraguay's qualification for their fourth successive finals in South Africa. There are 128 days to the tournament's June 11 kickoff.

Cabanas had a long operation after the incident but surgeons were unable to remove the bullet, which remains lodged in his brain. By last weekend Cabanas was speaking and watched America's Mexican championship match, a 1-0 win the players dedicated to him, on television. On Monday, he moved his limbs, ate and talked to relatives - but he remains in critical condition. "Salvador is OK, I know everyone wants to know if he'll play in the World Cup but it's impossible to give a forecast on his footballing life. Scientifically, we can't say," said Aldo Martinez, the Paraguayan national team's chief doctor.

There have been massive shows of support for Cabanas in Mexico and his home country. Astonishingly, a week after the incident, Cabanas's America team mate Juan Carlos Silva was shot in the buttocks in an attempted robbery. However, the club's sporting director Jaime Ordiales said the bullet appeared to have gone right through him and he was in no danger. * Reuters

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FIXTURES

UAE’s remaining fixtures in World Cup qualification R2
Oct 8: Malaysia (h)
Oct 13: Indonesia (a)
Nov 12: Thailand (h)
Nov 17: Vietnam (h)
 

UAE squad to face Ireland

Ahmed Raza (captain), Chirag Suri (vice-captain), Rohan Mustafa, Mohammed Usman, Mohammed Boota, Zahoor Khan, Junaid Siddique, Waheed Ahmad, Zawar Farid, CP Rizwaan, Aryan Lakra, Karthik Meiyappan, Alishan Sharafu, Basil Hameed, Kashif Daud, Adithya Shetty, Vriitya Aravind

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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.”