Wicketkeeper batsman KL Rahul was included in India's squad for the 2023 ODI World Cup despite not having played any competitive cricket for more than three months.
Rahul, 31, tore a tendon in his right thigh during the IPL in May and underwent surgery. He was picked in the squad for the ongoing Asia Cup but missed the opening two matches with a niggle unrelated to his original injury.
Now that he has been selected, Rahul will be fighting for the wicketkeeper's spot with Ishan Kishan, who scored a superb 82 in the Asia Cup match against Pakistan and seems to be ahead in the pecking order.
Captain Rohit Sharma did not confirm if Rahul whether will go straight back into the team.
“We have said earlier that problems like these are good, that boys are fighting for spots,” Rohit said in Kandy.
“We will have to see who is in form and who is the opposition to face. All this will be calculated and the best XI will be picked.”
Rahul has passed the fitness test and is expected to join the Asia Cup contingent for the Super 4 stage of the tournament.
The rest of the squad pretty much selected itself, with debate over one or two spots. Sanju Samson was not picked despite averaging 55 in ODIs.
Also, there are two left-arm finger spinners in the squad – Ravindra Jadeja and Axar Patel – and no front-line off-spinner. Ravichandran Ashwin could have been a handful on Indian surfaces and would have also brought batting strength down the order.
The World Cup starts in India on October 5 and Sharma did not rule out the possibility of Rahul and Kishan playing together.
“As long as everyone's available and fit to play, the selection depends on the opposition we play, current form, players who have done well under pressure, those things do matter,” said the opener.
“For Ishan's confidence the last match he played was brilliant – under pressure, batting at number five for the first time, [being a] left-hander gives us another dimension.”
All-rounder Shardul Thakur was named in the squad, which means the team has five seam bowling options, and only three spin ones. Chances are, the team will sacrifice bowling in order to strengthen and deepen their batting.
India squad: Rohit Sharma (captain), Shubman Gill, Virat Kohli, Shreyas Iyer, Ishan Kishan (wk), KL Rahul (wk), Hardik Pandya (vice-captain), Suryakumar Yadav, Ravindra Jadeja, Axar Patel, Shardul Thakur, Jasprit Bumrah, Mohammed Shami, Mohammed Siraj, Kuldeep Yadav.
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THE BIO
Favourite place to go to in the UAE: The desert sand dunes, just after some rain
Who inspires you: Anybody with new and smart ideas, challenging questions, an open mind and a positive attitude
Where would you like to retire: Most probably in my home country, Hungary, but with frequent returns to the UAE
Favorite book: A book by Transilvanian author, Albert Wass, entitled ‘Sword and Reap’ (Kard es Kasza) - not really known internationally
Favourite subjects in school: Mathematics and science
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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.”
How will Gen Alpha invest?
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
RACE CARD AND SELECTIONS
5pm: Maiden (PA) Dh80,000 1,200m
5,30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,200m
6pm: The President’s Cup Listed (TB) Dh380,000 1,400m
6.30pm: The President’s Cup Group One (PA) Dh2,500,000 2,200m
7pm: Arabian Triple Crown Listed (PA) Dh230,000 1,600m
7.30pm: Handicap (PA) Dh80,000 1,400m
The National selections
5pm: RB Hot Spot
5.30pm: Dahess D’Arabie
6pm: Taamol
6.30pm: Rmmas
7pm: RB Seqondtonone
7.30pm: AF Mouthirah
