Juventus forward Carlos Tevez celebrates his goal against AC Milan in his side's 3-1 Serie A victory on Saturday. Marco Bertorello / AFP / February 7, 2015
Juventus forward Carlos Tevez celebrates his goal against AC Milan in his side's 3-1 Serie A victory on Saturday. Marco Bertorello / AFP / February 7, 2015
Juventus forward Carlos Tevez celebrates his goal against AC Milan in his side's 3-1 Serie A victory on Saturday. Marco Bertorello / AFP / February 7, 2015
Juventus forward Carlos Tevez celebrates his goal against AC Milan in his side's 3-1 Serie A victory on Saturday. Marco Bertorello / AFP / February 7, 2015

Carlos Tevez increases Serie A lead and runaway Juventus smack around AC Milan


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Carlos Tevez took his Serie A goals tally to 14 for the season as champions Juventus moved 10 points clear of closest challengers AS Roma with a 3-1 win over outclassed AC Milan on Saturday.

Roma can bring their deficit on the Turin giants back to seven points if they account for Cagliari on Sunday.

But after what was another commanding performance from Massimiliano Allegri’s league leaders, Roma have their work cut out to stop Juventus from winning a fourth consecutive Italian championship.

“It’s three important points. A ten-point gap is quite significant but we have to keep our concentration intact and improve certain aspects of our games,” Allegri told Sky Sport.

“We played a good game but we gave away too many corners, one of which led to their goal while others put us in danger in the first half.

“I expected Milan to put us under pressure. They’re a top side and in January brought a few good players, and don’t forget they’ve got a few on the sidelines as well.

“They still have what it takes to challenge for a place in Europe.”

Embattled Milan unveiled several new players on Thursday including Mattia Destro, Gabriel Paletta and Luca Antonelli and the latter marked his debut with a goal for the visitors inside the half hour.

But Juventus were practically unstoppable from the word go and bossed this encounter from start to finish.

It took Argentinian international Tevez, who celebrated his 31st birthday on Thursday, only 14 minutes to stretch his tally at the top of the league scoring charts.

Milan defender Alex nodded the ball straight to Alvaro Morata on the halfway line and Tevez ran on to the Spaniard’s lob to outpace Paletta on the way towards goal before sliding the ball under Diego Lopez in the Milan net.

Left-back Antonelli, signed last week from Cagliari, gave Milan a rare chance to cheer when he rose highest at a corner to send a glancing header past Gianluigi Buffon at the keeper’s far post.

But Milan’s joy lasted barely three minutes.

Lopez came off his line to punch away a corner and after being slightly impeded by Leonardo Bonucci saw the defender’s cheeky sideswipe from Tevez’s header back in towards goal go past him and midfielder Sulley Muntari from four yards out.

Milan’s protests were waved away and the visitors suffered another blow when French forward Jeremy Menez, their top scorer this season on 12 goals, was forced off after appearing to suffer a dizzy spell.

Milan had claimed their first win of 2015 last week at home to basement side Parma, but any hopes they had of fighting their way back into the match soon faded.

With ex-Roma striker Destro suspended, Menez was replaced by Giampaolo Pazzini eight minutes before the break.

Juventus were unlucky not to be awarded a penalty soon after for a Michael Essien handling offence as the Ghanaian missed a header at a corner.

Pazzini spurned a great to chance to level on 53 minutes when he ran on to a poor clearance to the left of the area only to see Buffon pull off a great one-handed save at the near post.

“It’s a pity because with Pazzini we had the chance to pull level at 2-2 and that could have changed the game for us,” said Milan coach Filippo Inzaghi.

“I complimented the lads because, despite having several players missing, we played on a par with Juventus.”

But Juventus were firmly in control and stretched their lead in the 65th minute when Morata pounced after Claudio Marchisio’s drive smacked back off the crossbar.

The result left Juventus top on 53 points, 10 ahead of Roma with Napoli, in third, a further four points adrift.

Torino’s purple patch continued with a 3-1 win away to Verona which moved them up to seventh place.

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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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