There have been many false dawns in the career of Grigor Dimitrov, too many times he has looked on the cusp of a major breakthrough only to fail to take the final step. Ever since the talented Bulgarian hammered Andy Murray, the defending Wimbledon champion, at the All England Club in 2014, the tennis world has held its collective breath. After all, anyone who earns the nickname "Baby Fed", because of the similarities in his game to 19-time grand slam champion Roger Federer, has to be pretty special, right?
An impressive junior career promised much, but here we are in January 2018 with the Bulgarian, age 26, and he has yet to reach a grand slam final, let alone win one.
There is no doubt that Dimitrov has the talent. The one-handed backhand that has drawn comparisons to Federer, the 19-time major winner, is a sight to behold, and his all-round game holds up against anyone elses on the ATP Tour.
But like so many starlets of the men's game he has yet to really have a defining run at a grand slam.
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This could be the week that finally changes that. Ranked third in the world, playing well, a quarter-final against Britain's Kyle Edmund, a match he is a heavy favourite to win, at the Australian Open. The signs are looking good.
There have been flashes of promise throughout Dimitrov's career, but they have so far proved no more than that.
His hammering of Murray at Wimbledon in 2014, in the quarter-finals, should have been the launchpad for Dimitrov to go on and consistently challenge in the championship matches at the majors.
The 6-1, 7-6, 6-2 victory over a player who has been among the best grass-court players in recent years was terrific to watch, and he did go on to push eventual champion Novak Djokovic hard in the semi-finals before losing in four sets.
But it proved another false dawn as he had to wait until last year's Australian Open to reach another semi-final again. Dimitrov has struggled for consistency, and too often lost to opponents that, given his talent, he should be beating with few problems.
He was terrific in a losing effort to Rafael Nadal in the last four in Melbourne 12 months ago, going down in five sets, and it could be the Spaniard, now world No 1, who he meets again in the semi-finals on Thursday, should Edmund be overcome.
For the first time in his career Dimitrov has sustained momentum behind him that could carry him to his first grand slam final.
As a whole 2017 was a year where Dimitrov found the consistency his game had been lacking.
He won his first Masters title in Cincinnati in August and won the ATP World Tour finals in November, achievements that have propelled him to No 3 in the world.
He beat Edmund already this month in Brisbane in three sets. While the Briton has impressed in his best run at a grand slam it would be a big surprise if it is his name in the last four.
Either Nadal or 2014 US Open champion Marin Cilic await Dimitrov in the semis, and there are reasons for Dimitrov to be positive about facing either of them.
There are still doubts over Nadal's form, given his wobbles in beating Diego Schwartzman in the fourth round on Sunday, and also about his endurance; this is the Spaniard's first tournament, other than a defeat in the Kooyong Classic exhibition, since a knee problem ended his 2017 campaign last November.
Sixth seed Cilic is a consistent performer with a big serve. But as he demonstrated in defeating home favourite Nick Kyrgios on Sunday, Dimitrov has the temperament and concentration to prevail in a tight encounter that would likely feature a tie-breaker or two.
There is a lot of work still to be done but this is unquestionably as good a chance as Dimitrov has had to finally reach the final of a major.
It is now up to him to prove that he is the real deal, and the hype that stretches back almost 10 years to him winning the junior title at Wimbledon in July 2008 was not misplaced.
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GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
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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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