Danedream and Nathaniel are ruled out of Prix de l'Arc


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Danedream may continue to race on next year after the German filly was sensationally scratched on Tuesday from Sunday’s Prix de l’Arc de Triomphe alongside Nathaniel.

Last year’s hugely impressive winner of the Arc was not left in Tuesday’s confirmation stage for Europe’s showpiece event in Paris following the news that horses based in Cologne, Germany, were placed on lockdown on Monday night due to a serious disease.

An outbreak of Equine Infectious Anaemia was reportedly discovered near the stables of Peter Schiergen, Danedream’s trainer, and the entire area was ring-fenced by the German authorities.

Following a meeting yesterday morning between vets and trainers in the area, Schiergen took the decision to withdraw his filly from the race.

“If we had maybe two or three weeks then something might have been done, but we are so close to the race it is just not possible,” Patrick Barbe, the France racing manager for part-owner Teruya Yoshida, told The National.

“As far as we are concerned the ban is for three months so it makes it hard to plan for any other races this season.”

Danedream beat Nathaniel by a nose in the King George VI and Queen Elizabeth Stakes at Ascot in England in July, and the pair had leading chances going into the middle-distance championship at Longchamp Racecourse.

Having accumulated five Group 1 victories, Danedream has done enough on the racetrack to earn a well-earned retirement to the paddock, but Barbe’s initial thinking at this time is to continue the four year old’s racing career. All options, including a trip to Dubai, are possible.

“It is all too fresh to be making any decisions and she has done enough to go to stud but she is in such good form that it would be silly to not have a go next spring.

“There’s plenty of time for her to visit Frankel yet.”

There are thought to be around 400 racehorses based in Cologne, and Barbe underlined what a devastating blow it would be to the German racing industry if nothing is done to overturn a travel ban as quickly as possible.

“Imagine for the next three to four months there are no horses from Cologne in races in Germany, or around the world, it will be very bad for German racing. There were around five or six horses entered at Longchamp from Germany.”

Nathaniel was scratched from the Arc in equally dramatic circumstances. John Gosden’s Eclipse Stakes victor was left in the 12-furlong contest alongside 17 others yesterday but it later emerged that the four year old had a temperature.

Gosden, the colt’s trainer, had a blood test carried out immediately and it was later confirmed that Nathaniel would miss the race, perhaps in favour of a crack at Frankel in the Champion Stakes at Ascot next month.

The defections come after last week’s news that Snow Fairy, the seven-time Group 1 winner, was ruled out of the race with injury.

Snow Fairy finished third in last season’s Arc but was ruled out of a repeat bid by heat in her foreleg.

She will miss the rest of the season but will also race on next year.

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2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

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.”

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

SERIE A FIXTURES

Friday Sassuolo v Benevento (Kick-off 11.45pm)

Saturday Crotone v Spezia (6pm), Torino v Udinese (9pm), Lazio v Verona (11.45pm)

Sunday Cagliari v Inter Milan (3.30pm), Atalanta v Fiorentina (6pm), Napoli v Sampdoria (6pm), Bologna v Roma (6pm), Genoa v Juventus (9pm), AC Milan v Parma (11.45pm)

Straightforward ways to reduce sugar in your family's diet
  • Ban fruit juice and sodas
  • Eat a hearty breakfast that contains fats and wholegrains, such as peanut butter on multigrain toast or full-fat plain yoghurt with whole fruit and nuts, to avoid the need for a 10am snack
  • Give young children plain yoghurt with whole fruits mashed into it
  • Reduce the number of cakes, biscuits and sweets. Reserve them for a treat
  • Don’t eat dessert every day 
  • Make your own smoothies. Always use the whole fruit to maintain the benefit of its fibre content and don’t add any sweeteners
  • Always go for natural whole foods over processed, packaged foods. Ask yourself would your grandmother have eaten it?
  • Read food labels if you really do feel the need to buy processed food
  • Eat everything in moderation
Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.

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