Seven men are in the running to replace Sepp Blatter as Fifa president as they published the list of valid applications "proposed in due time and form" on Wednesday Oct. 28, 2015. It did not include former Trinidad and Tobago player David Nakhid, who did not have the five required nominations. (AP Photo/Bilal Hussein, FILE)
Seven men are in the running to replace Sepp Blatter as Fifa president as they published the list of valid applications "proposed in due time and form" on Wednesday Oct. 28, 2015. It did not include fShow more

Sport

David Nakhid appeals Fifa’s decision to disqualify him as presidential candidate

The blackmail scandal involving Mathieu Valbuena and Karim Benzema has not harmed the French football federation, according to its president while coach Andre Schubert has been rewarded with a full-time contract at Borussia Monchengladbach.

Agencies

November 13, 2015

Former Trinidadian footballer David Nakhid on Friday lodged an appeal with the Court of Arbitration for Sport (CAS) contesting Fifa’s decision to disqualify him as a presidential candidate. Nakhid, 51, and his lawyer, Jalal El Mir, were in Lausanne to present his case before CAS, arguing there was a violation of electoral regulations. “I believe that a proper and impartial review by the CAS will reveal that my client is a serious and qualified contender who was treated unjustly,” El Mir said. Nakhid’s candidacy was invalidated because he received only four valid nominations from Fifa’s 209 national associations and presidential candidates required five. It is thought one national association nominated both Nakhid and another candidate.

France

The blackmail scandal involving Mathieu Valbuena and Karim Benzema has not harmed the French football federation, according to its president Noel Le Graet. Benzema was interviewed by police last week in relation to an alleged sex tape involving his France teammate Valbuena, and both players have been left out of Didier Deschamps’s squad for friendlies against Germany last night and England on Tuesday. France host Euro 2016 this summer, and Le Graet told Le Monde: “This is bad for both players, not the federation. We would have preferred to do without this case, but it has no consequences. There are no worries.”

Bundesliga

Borussia Monchengladbach have confirmed that caretaker coach Andre Schubert has been rewarded with a full-time contract as their permanent coach. Schubert took control on a temporary basis after Lucien Favre resigned earlier this season, after his side lost their first five league games of the season. Under Schubert Monchengladbach are unbeaten in seven games, and the club’s director of sport, Max Eberl, said: “Andre has done a very convincing job in the past eight weeks. He’s obtained excellent results with the team.”

Ligue 1

Bastia president Pierre-Marie Geronimi has been suspended from all official duties for a month over his behaviour towards a referee. The punishment relates to September’s Ligue 1 clash with Lyon at the Stade Gerland, which was refereed by Benoit Bastien. A disciplinary committee from the French league confirmed the ban yesterday, with it coming due to Geronimi’s behaviour towards Bastien during the half-time interval of the game, which Lyon won 2-0.

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While you're here

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 flights

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The hotel

Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.

The tour

Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg