Handre Pollard, left, shown during South Africa's Test victory over Scotland on Saturday. Steve Haag / Gallo Images / Getty Images / JUne 28, 2014
Handre Pollard, left, shown during South Africa's Test victory over Scotland on Saturday. Steve Haag / Gallo Images / Getty Images / JUne 28, 2014
Handre Pollard, left, shown during South Africa's Test victory over Scotland on Saturday. Steve Haag / Gallo Images / Getty Images / JUne 28, 2014
Handre Pollard, left, shown during South Africa's Test victory over Scotland on Saturday. Steve Haag / Gallo Images / Getty Images / JUne 28, 2014

Debutant Handre Pollard shines as Springboks slam Scotland


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South Africa ran out easy 55-6 winners against Scotland in Port Elizabeth on Saturday, helped by an outstanding performance from Springbok debutant No 10 Handre Pollard.

This single Test between the two teams, who will be Group B opponents in the 2015 Rugby World Cup in England, was never really a contest, with South Africa leading from the third minute and running in eight tries.

Scotland were left without a try and with coach Vern Cotter’s 100 per cent record in tatters after tour wins against the United States, Canada and Argentina.

Both sides had looked to use the fixture to blood new players ahead of the tournament, but it was South Africa’s young guns who stole the show.

Relative newcomers Lwazi Mvovo, Marcell Coetzee and Lood de Jager picked up two tries apiece and rapidly-rising Springbok star fly-half Pollard shone on his Test debut.

Pollard, recently named world junior player of the year and who led South Africa to runners-up spot in the under-20 World Championship in New Zealand, picked up 13 points and was instrumental in most of South Africa’s many attacks.

The Springboks opened the scoring just three minutes in, with flanker Coetzee driving over from short range to touch down under the posts. Pollard sloted over the conversion.

Scotland stand-off Duncan Weir responded quickly with a penalty from just inside the South African half, but the South Africans were over the line again within minutes.

The Springboks secured line-out possession inside the Scotland 22, and went from wing to wing before in-form full back Willie le Roux glided over. Pollard made the tricky touchline conversion.

The try went unconverted but South Africa led 19-3 with less than 20 minutes on the clock.

Scotland were lucky not to be reduced to 14 men when debutant number eight Adam Ashe and hooker Ross Ford both hit Le Roux late and high after he dinked a kick over their heads and tried to run on to it.

Shortly before the whistle, Weir cut the deficit with a successful penalty but, at 19-6, the Scots at half-time never looked like getting back into the game.

South Africa began the second half by keeping the scoreboard ticking over, when Pollard drove home a penalty from around his own halfway line.

On 50 minutes Scotland were reduced to 14 men when Tim Swinson was shown the yellow card for illegally taking a man out at the ruck.

A pick-and-drive from the line-out resulted in Coetzee again driving over the line for his second try, with Pollard adding the extras.

The Springboks took further advantage of the extra man minutes later with JP Pietersen going over in the corner.

Shortly after the hour mark Mvovo got his second try with a brilliant solo effort, collecting the ball out wide and sprinting 60 metres downfield to go over in the corner. Pollard made the touchline conversion.

Lood de Jager then pushed over the line for the Springboks’ seventh try after South Africa picked the ball up in the loose thanks to some scrappy defending. Pollard collected his fifth conversion.

Close to the death De Jager drove past two Scottish tackles in short range to pick up his second try and complete the rout.

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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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