McIlroy's recent struggles
Last six stroke-play events (First round score in brackets)
Arnold Palmer Invitational Tied for 4th (74)
The US Masters Tied for 7th (72)
The Players Championship Tied for 35th (73)
US Open Missed the cut (78)
Travellers Championship Tied for 17th (67)
Irish Open Missed the cut (72)
Should we be concerned about Rory McIlroy?
After all, the Northern Irishman missed the cut at the Irish Open last week, a tournament he hosts – which, granted, could have played its part - and a tournament at which he was defending champion.
He opened with an even-par 72 on Thursday and followed with a 73 on Friday, making it four missed cuts from his past five appearances at the event.
More recently, McIlroy’s record reads two missed cuts from three competitive outings, including last month’s US Open. In between, he was tied-17th at the Travellers Championship.
As it stands, McIlroy is without a victory since last September’s Tour Championship, a mini drought for a player with a mighty talent. Subsequently, someone who typically jostles for top spot in the world rankings has slipped these past few weeks from No 2 to No 3 to No 4.
So this week’s Scottish Open has added significance, not only in helping to turn around results, but in where it sits on the calendar, too.
Acting as a prelude to the Open Championship, it is an important tune-up before McIlroy takes aim at landing a fifth major crown. It is almost three years since his fourth.
“Having had such a stop-start season with the injury means I need to, and really want to, play golf,” McIlroy said when adding the Scottish Open to his programme last month.
And that is just it: McIlroy needs to play golf. Thus far, his 2017 schedule has featured 30 competitive rounds, meaning one of the game’s leading lights remains seriously uncooked.
A rib injury hampered his early season – his missed both Abu Dhabi and Dubai – and prompted five weeks off after the Masters, while he has had to contend with a change in equipment and his wedding. Those are legitimate distractions.
At the Irish Open, McIlroy bemoaned his problems in and around the greens; at the Travellers two weeks previously, he used three different putters.
“It's been a really frustrating year," he said in Portstewart. "Not what I wanted at all, but I must remain patient, go back to the drawing board."
Admittedly, problems with the putter need addressed, and McIlroy has not looked entirely comfortable over the ball. Predictably, he has been working hard on rectifying that. Yet he must be careful that it does not knock his confidence, that the doubt does not seep into other areas of his game.
“I don't feel I'm that far away - I really don't,” he said. “I can hit a five-iron from 220 yards into the middle of the green, but I can't get it up-and-down from 30 feet.”
Dundonald Links, a stoutly unforgiving Kyle Phillips design, will certainly test that. So too, a field that includes Henrik Stenson, Rickie Fowler, Adam Scott and Alex Noren, the defending champion.
McIlroy could therefore do with a quick start. Of his past six competitive appearances, he has broken par in the first round only once, at the Travellers Championship. Clearly, he is still feeling his way into tournaments, a relic from the time off nursing the rib injury.
So is there any real cause for concern? Well, not really. Yes, the short-game requires refining, but McIlroy is simply an athlete short on competitive game-time.
In 2014, victory proved initially elusive. Then he won four times in less than three months that summer – all of them prominent tournaments. Statistically, his long game is better now than it was then.
Unquestionably, he needs to gets out of the blocks well in Scotland this week. But, crucially, getting four rounds under the belt is a must. Shed that competitive rust, roll on Royal Birkdale. Just like three years ago, a frustrating season can soon spark.
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.”
Formula%204%20Italian%20Championship%202023%20calendar
%3Cp%3EApril%2021-23%3A%20Imola%3Cbr%3EMay%205-7%3A%20Misano%3Cbr%3EMay%2026-28%3A%20SPA-Francorchamps%3Cbr%3EJune%2023-25%3A%20Monza%3Cbr%3EJuly%2021-23%3A%20Paul%20Ricard%3Cbr%3ESept%2029-Oct%201%3A%20Mugello%3Cbr%3EOct%2013-15%3A%20Vallelunga%3C%2Fp%3E%0A
Mohammed bin Zayed Majlis
THE SPECS
Engine: 1.5-litre
Transmission: 6-speed automatic
Power: 110 horsepower
Torque: 147Nm
Price: From Dh59,700
On sale: now
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.3-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E299hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E420Nm%20at%202%2C750rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E10-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E12.4L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh157%2C395%20(XLS)%3B%20Dh199%2C395%20(Limited)%3C%2Fp%3E%0A
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
McIlroy's recent struggles
Last six stroke-play events (First round score in brackets)
Arnold Palmer Invitational Tied for 4th (74)
The US Masters Tied for 7th (72)
The Players Championship Tied for 35th (73)
US Open Missed the cut (78)
Travellers Championship Tied for 17th (67)
Irish Open Missed the cut (72)