Teenage sensation Vaibhav Suryavanshi hit a half-century as Rajasthan Royals ended their IPL season with a consolation six-wicket win over Chennai Super Kings on Tuesday.
The 14-year-old Suryavanshi, who made waves after he struck a record 35-ball century last month, hit 57 off 33 balls as Rajasthan chased down 188 with 17 balls to spare in New Delhi.
Suryavanshi, who announced himself on the IPL stage in emphatic style by launching his first ball in the competition for six, set up the chase in his knock laced with four fours and fours sixes.
“I don't have words for Vaibhav, he can hit a slower ball over cover,” Rajasthan skipper Sanju Samson said.
“Today when the middle overs were going on, he was going with his job very smartly. He has game awareness at such a young age.”
Dhruv Jurel sealed the win with his unbeaten 31 off 12 balls.
Both teams had already bowed out of the play-off race but Rajasthan stay above bottom-placed Chennai in the 10-team table with four wins in 14 matches.
Five-time champions Chennai, led by 43-year-old MS Dhoni, have one more match to go in the league phase.
Leaders Gujarat Titans, Royal Challengers Bengaluru and Punjab Kings have all qualified for the play-offs.
Five-time winners Mumbai Indians and Delhi Capitals are competing for the final play-off spot.
Chennai had their chances including when veteran spinner Ravichandran Ashwin struck in the space of five balls to send back Samson (41) and Suryavanshi.
Jurel soon eased the pressure with boundaries in the next over and despite the loss of another wicket in Riyan Parag, Rajasthan raced to victory.
Jurel hit the winning six with Shimron Hetmyer at the other end on 12.
Yashasvi Jaiswal contributed with 36 off 19 balls in a brisk opening stand of 37 with Suryavanshi.
Chennai recovered to reach 187-8 after they slipped to 78-5 inside eight overs, batting first on a hot and humid evening in the Indian capital.
“If you look at the amount of runs we had put on the board, it was very good,” said Dhoni. “But you got to see the wickets column as it puts pressure on the lower-middle order that you might not bat 20 overs.”
Teenage opener Ayush Mhatre lifted the team after two early wickets with his 20-ball 43 before his dismissal triggered a mini-collapse.
The 17-year-old Mhatre, who has impressed in his debut year with a top score of 94, hit eight fours and one six before falling to medium-pace bowler Tushar Deshpande.
Sri Lankan spinner Wanindu Hasaranga took down Ashwin and seam bowler Yudhvir Singh struck for the third time to remove Ravindra Jadeja as Chennai lost half their side in 7.4 overs.
South African batter Dewald Brevis made 42 and rebuilt the innings in a 59-run stand with Shivam Dube (39).
Rajasthan's bowlers pulled things back in the end as they gave away just 17 runs from the last three overs.
Seam bowler Akash Madhwal returned figures of 3-29 to be named player of the match.
The IPL resumed last Saturday after being paused due to a deadly conflict between India and Pakistan, forcing a revised schedule with the final now on June 3 in Ahmedabad.
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Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
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
Engine: 2.0-litre turbo 4-cyl
Transmission: eight-speed auto
Power: 190bhp
Torque: 300Nm
Price: Dh169,900
On sale: now
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