All-rounder Glenn Maxwell smashed the fastest century in World Cup history as Australia crushed the Netherlands by a mammoth 309 runs in Delhi on Wednesday.
Maxwell's ton came off just 44 balls and David Warner also made 104 as Australia reached a massive 399-8 at the Arun Jaitley Stadium.
They then bundled the Dutch out for just 90 runs in 21 overs, with leg-spinner Adam Zampa cleaning up the tail in a remarkable spell of 4-8 off his three overs.
The victory was the second biggest defeat in terms of runs in ODI history after India's 317-run thrashing of Sri Lanka in January.
It meant a third straight win for Australia, after they began the tournament with two defeats, and they now sit in fourth place in the overall table on six points.
Maxwell's 106 included nine fours and eight sixes as five-time champions Australia topped their previous margin of World Cup victory against Afghanistan by 275 runs at Perth in 2015.
Maxwell's blitz beat the record of South Africa's Aiden Markram who hit a century off 49 balls against Sri Lanka 18 days ago at the same venue.
Warner, who made 163 in his last innings against Pakistan, reached his second successive ton off 93 balls with 11 fours and three sixes to set the tone for his team's dominance after a shaky start.
Australia lost Mitchell Marsh, for nine, in the fourth over before Warner and Steve Smith hit back in a stand of 132 against a Dutch side who had stunned South Africa earlier in the tournament.
Smith scored his first fifty of the tournament before he fell for 71 off spinner Aryan Dutt, but Warner stood firm in another stubborn partnership of 84 with Marnus Labuschagne.
Labuschagne reached his fifty before he fell for 62 off the bowling of Bas de Leede.
Logan van Beek sent back Warner after the batsman attempted a paddle towards fine leg but was caught out.
Maxwell started with a string of boundaries including three in one over off De Leede and despite losing partner Cameron Green to a run out flayed the opposition attack.
De Leede went for 2-115 – the worst ever ODI figures.
The Dutch were never in the chase after they lost half their side for 62 runs inside 14 overs.
Opener Vikramjit Singh scored a run-a-ball 25 before being run out by a direct throw from Maxwell.
Wickets then tumbled with Mitchell Marsh taking 2-19 and Mitchell Starc, Pat Cummings and Josh Hazlewood grabbing a wicket apiece before Zampa cleaned up the tail.
Player of the match Maxwell said of his record-breaking century: "It's probably something I didn't set out to do. I just tried to get a good platform. On this ground, you can cash in and it was nice to get a bit of rhythm finally and hit a few out of the middle of the bat.
"It's a huge confidence boost, a few doubts creep in when you haven't got runs. Hopefully, I can continue on this."
On Australia’s performance, he added: "It's like a perfect game, when you get 400 and bowl a team out for under 100, it is like a perfect game. We've had three good wins now and will look to build on that momentum now."
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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The specs: 2018 Volkswagen Teramont
Price, base / as tested Dh137,000 / Dh189,950
Engine 3.6-litre V6
Gearbox Eight-speed automatic
Power 280hp @ 6,200rpm
Torque 360Nm @ 2,750rpm
Fuel economy, combined 11.7L / 100km
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Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
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Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
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Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
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If driving, turn your engine off when stationary.
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How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
