Trainer Mike de Kock of South Africa tallied his first winner in Dubai in 2003 and has held a strong presence in the region ever since. YM Yik / EPA
Trainer Mike de Kock of South Africa tallied his first winner in Dubai in 2003 and has held a strong presence in the region ever since. YM Yik / EPA

De Kock looks back at his favourite Dubai World Cup moments



Ahead of the Dubai World Cup, The National has talked to trainers and race officials about their fondest memories of the event, beginning with South Africa trainer Mike de Kock.

My best Dubai World Cup meeting has to be my first one in 2003 – it is like your first love, I suppose, you never forget.

I was not used to racing abroad and, at that level, so to have Ipi Tombe win the Dubai Duty Free and Victory Moon the UAE Derby on the same night just blew me away.

It is difficult to describe that feeling. Now when I have a winner there is more a sense of relief, whereas then it was simply “wow” and a real feeling of surprise that I had done it.

Ipi Tombe was the reason I came to race in Dubai. I had come to Dubai before that when I had heard that they were trying to get the Carnival going.

I had wanted to leave South Africa and tried to get a trainer’s job here, but I was knocked back. After that experience, I vowed that I would come back one day with horses.

Ipi Tombe was owned by a syndicate at the time and Henk Leyenaar, who was one of the major shareholders, gave me full backing to go. Team Valor International wanted to buy in and we were not so keen, but the sale of a share to them was on condition we came to Dubai.

Three years before that I had raced a legendary horse in America called Horse Chestnut, who won a Group 3 at Gulfstream Park, but this was international racing at the highest level.

Every trainer knows when he has a good horse and, at the time, I thought if there was one horse that could compete on the world stage then she was it – if there was one better, I sure wanted to see it.

I brought Victory Moon along as well, not really knowing at all whether he was good enough. He was a big, strong horse and won first time up at Jebel Ali, so I thought we’d give the Derby a go.

It was a strong field in the Duty Free, but Ipi Tombe won well and there was a huge sense of vindication for everybody involved as she was now a world champion.

International competition drives sport at the top level. If Ernie Els had only played golf on the Sunshine Tour in South Africa, he would never have been recognised. He had to get out of South Africa to play in the majors to be thought of as a great golfer.

Those wins turned South African racing upside down in terms of worldwide recognition of our bloodstock – it showed what we could do. Back then we could export freely when nobody knew about us, but we are now worse off than we have ever been in the whole history of exporting thoroughbred horses.

There were no quarantine issues then and, after 40 days in quarantine in Cape Town, the horses flew straight to Dubai for six days in quarantine here – that was it.

We had a good World Cup night the following year with Lundy’s Liability in the UAE Derby and Right Approach in the Dubai Duty Free but, after that, African horse sickness broke out in South Africa and we were suspended from trading with the European Union and then Dubai. The EU opened up a few years later, but Dubai still has not.

Now we have to go through this long quarantine procedure. I get a lot of satisfaction when every one of my horses wins in Dubai because I know what it has taken to get these horses here.

It is all very well me accepting the trophy, but my whole team have worked extremely hard and some are on Mauritius for three months away from their families.

On Mauritius, we are talking about horses worth millions of dollars training on a beach-sand track that is four furlongs round, through a forest that is conditioned by a makeshift harrow we welded together that is held down by boulders pulled along by a bread delivery van. You couldn’t make it up.

Of course nobody wants African horse sickness to leave South Africa, but it is not a contagious disease and is vector-driven, like malaria.

It would be fantastic to get clarification on this issue as I don’t think there is a scientific solution any more. It is now about politics.

All of this is a great motivator for me to succeed in Dubai, and Shea Shea last season was another highlight. To see the joy on the face of owner Brian Joffe and to be able to share in that is what we are all in racing for.

Trainer Mike de Kock was talking to Geoffrey Riddle of The National

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COMPANY%20PROFILE
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SPEC%20SHEET%3A%20APPLE%20IPHONE%2014
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The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: 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.”

The specs

Engine: 1.5-litre, 4-cylinder turbo

Transmission: CVT

Power: 170bhp

Torque: 220Nm

Price: Dh98,900

Generational responses to the pandemic

Devesh Mamtani from Century Financial believes the cash-hoarding tendency of each generation is influenced by what stage of the employment cycle they are in. He offers the following insights:

Baby boomers (those born before 1964): Owing to market uncertainty and the need to survive amid competition, many in this generation are looking for options to hoard more cash and increase their overall savings/investments towards risk-free assets.

Generation X (born between 1965 and 1980): Gen X is currently in its prime working years. With their personal and family finances taking a hit, Generation X is looking at multiple options, including taking out short-term loan facilities with competitive interest rates instead of dipping into their savings account.

Millennials (born between 1981 and 1996): This market situation is giving them a valuable lesson about investing early. Many millennials who had previously not saved or invested are looking to start doing so now.

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Turning%20waste%20into%20fuel
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Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5