India target No 1 ODI ranking in three-match series against New Zealand


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India will be looking to continue their stupendous form in 50-over cricket when they face top-ranked New Zealand in a three-match ODI series that begins in Hyderabad on Wednesday.

Rohit Sharma's team were in unstoppable form in the recently concluded series against Sri Lanka, completing a clean sweep with a world record 317-run win in the third game in Thiruvananthapuram.

Virat Kohli has roared back into form, smashing three centuries in his last four ODIs. He is looking good to break Sachin Tendulkar's record of 49 tons in the format. Kohli is on 46 centuries, despite having played nearly 200 fewer ODIs than Tendulkar.

The three-match series against New Zealand will give India an honest assessment of where they stand in the format. The 50-over World Cup will be held in India later this year and the series against the Kiwis, who were finalists in the last two World Cups, will expose any weaknesses in Rohit's team.

If India manage to defeat the Black Caps, and by a margin of 3-0, they will rise to the top of rankings table in ODIs. Any other margin of result will see the Kiwis retain their top ranking. New Zealand are currently on top with 117 points after their recent ODI series win in Pakistan. India are fourth on 110 points, but a congested top five in the format's rankings table means the No 1 spot should change hands often.

What should make the job for India a bit easier is the absence of key New Zealand players in the series. Star batsman Kane Williamson and veteran seamer Tim Southee have decided to give the tour a miss to manage their workload.

In their absence, Tom Latham will lead the team in the ODI series and Mitchell Santner in the subsequent T20s.

Meanwhile, a back injury has forced India batsman Shreyas Iyer out of the ODI series, the country's cricket board said on Tuesday. Rajat Patidar will replace Iyer in the squad.

COMPANY%20PROFILE
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Tank warfare

Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks. 

“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.

“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”

MATCH INFO

Liverpool 2 (Van Dijk 18', 24')

Brighton 1 (Dunk 79')

Red card: Alisson (Liverpool)

Gifts exchanged
  • King Charles - replica of President Eisenhower Sword
  • Queen Camilla -  Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
  • Donald Trump - hand-bound leather book with Declaration of Independence
  • Melania Trump - personalised Anya Hindmarch handbag

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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Transmission: 8-speed auto

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