Juventus forward Carlos Tevez addresses the media during a press conference on Monday ahead of his side's Champions League match against Real Madrid on Tuesday. Alessandro Di Marco / EPA / May 4, 2015
Juventus forward Carlos Tevez addresses the media during a press conference on Monday ahead of his side's Champions League match against Real Madrid on Tuesday. Alessandro Di Marco / EPA / May 4, 2015
Juventus forward Carlos Tevez addresses the media during a press conference on Monday ahead of his side's Champions League match against Real Madrid on Tuesday. Alessandro Di Marco / EPA / May 4, 2015
Juventus forward Carlos Tevez addresses the media during a press conference on Monday ahead of his side's Champions League match against Real Madrid on Tuesday. Alessandro Di Marco / EPA / May 4, 2015

Carlos Tevez asserts there are no ‘clear favourites’ in Juventus v Real Madrid


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Striker Carlos Tevez believes a near flawless performance from Juventus will be key as they prepare to host defending champions Real Madrid in the first leg of their Champions League semi-final on Tuesday.

Tevez has been crucial for the Turin giants this season, scoring 20 league goals so far on his way to claiming a second Serie A title in as many seasons in Italy.

After batting away questions about his future at Juve – Tevez has been linked with a move back to hometown club Boca Juniors – the Argentinian turned his attention to Tuesday’s tie at Juventus Stadium.

“It will be a difficult, open and hard fought semi-final. I don’t think there are clear favourites, the team that makes the least mistakes wins,” said Tevez, who admitted the lure of Champions League glory sealed his move to Juventus in 2013.

“When Juve came after me, they made their Champions League ambitions clear to me.”

Having lifted the trophy with Manchester United in 2008, Tevez is chasing a second Champions League crown.

Real are widely expected to cruise to this year’s final in Berlin having claimed a record 10th title last year with a 4-1 hammering of city rivals Atletico Madrid.

Confidence in the Juventus camp is high after coach Massimiliano Allegri steered the club to their 31st Serie A title on Saturday thanks to a 1-0 win at Sampdoria.

But Juve remain the underdogs in a last four which also contains Barcelona and Bayern Munich, who meet on Wednesday.

The 48-year-old Allegri admits it will take a focused performance all over the park to take something from Real before the return leg at the Santiago Bernabeu on May 13.

“I think we have to be aware of what we’ve achieved so far and who we’re playing against – a great team,” Allegri said.

“When you get to the Champions League semi-finals, all the teams are top drawer, so you have to be on top of your game to win.

“I don’t think a game between Juve and Real is going to finish scoreless. So we have to be just as good in defence as in the final third of the park.”

While Real coach Carlo Ancelotti is without injured France striker Karim Benzema, he has confirmed that Wales winger Gareth Bale is “100 per cent fit” after a recent calf problem.

Bale is expected to start up front alongside Javier Hernandez and Cristiano Ronaldo, who scored a hat-trick in a 3-2 La Liga win over Sevilla at the weekend that kept Real within touching distance of leaders Barcelona.

For Tevez, it will be a chance to rekindle old memories.

Ronaldo also scored United’s opener on their way to winning the Champions League in 2008, when Sir Alex Ferguson’s side beat Chelsea 6-5 in a penalty shoot-out.

Tevez added: “We’ll get a chance to have a chat outside the dressing room, but once the whistle blows for kick-off we’ll be opponents.”

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Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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Name: Thndr

Started: October 2020

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Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC,  Rabacap and MSA Capital

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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.”