DUBAI // Until Saturday night, at the 22nd staging of Dubai World Cup night, no horse had come from Gate 14 – the widest draw – to win the Dubai Golden Shaheen, the US$1 million (Dh3.67m) Group 1 race over 1,200 metres.
It was not just Mind Your Biscuits's victory on Saturday night, but the manner in which it was achieved, that was impressive.
Only 35 minutes earlier, the horse’s jockey Joel Rosario was denied a win on Long On Value in the Al Quoz Sprint.
He was pipped at the post by Francois-Xavier Bertas on The Right Man.
This time around, despite the draw and history being against them, it all fell in to place.
Rosario was onboard a well-oiled machine. He raced wide over the two left-handed turns and once got clear of traffic on the 400m home stretch, he left the rest the field behind.
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“I was quickly away but coming out of Gate 14, I thought, maybe I was going to be too wide,” Rosario said. “I was a little wide in the turn but he showed he was the best horse tonight.
“I’m so happy for Chad [Summers, the trainer]. He has worked really hard.”
Summers, the rookie American trainer, was obviously ecstatic after his first career win.
“I have only four horses at the moment but I had this race in mind when I took out my license,” he said. “We were confident coming into this race.
“The plan now is to take him to the Met Mile [at Belmont Park in June] and Forego [a handicap race at Saratoga Racecourse], and a possible return to the Dubai World Cup next year.”
My Catch under Sam Hitchcott and St Joe Bay ridden by Norberto Arroyo set the early pace, with Christopher Hayes on Morawij – last year’s third-placed horse – coming out of Gate 2, in a perfect position on the rail.
Not much changed until they approached the second and final bend when St Joe Bay moved briefly into the lead.
But the race was soon put to bed when Rosario kicked for home on Mind Your Biscuits.
Godolphin’s Comicas under William Buick was the best of the chasing pack, ahead of Morawij, who had to settle for third yet again.
It was a creditable performance though, by the Dhruba Selvaratnam-trained seven-year-old gelding by Exceed And Excel, only a short head behind Comicas with St Joe Bay a further half a length back in fourth.
apassela@thenational.ae
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The specs
Engine: 1.4-litre 4-cylinder turbo
Power: 180hp at 5,500rpm
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The specs
Engine: 3.5-litre twin-turbo V6
Power: 380hp at 5,800rpm
Torque: 530Nm at 1,300-4,500rpm
Transmission: Eight-speed auto
Price: From Dh299,000 ($81,415)
On sale: Now
If you go
Flying
Despite the extreme distance, flying to Fairbanks is relatively simple, requiring just one transfer in Seattle, which can be reached directly from Dubai with Emirates for Dh6,800 return.
Touring
Gondwana Ecotours’ seven-day Polar Bear Adventure starts in Fairbanks in central Alaska before visiting Kaktovik and Utqiarvik on the North Slope. Polar bear viewing is highly likely in Kaktovik, with up to five two-hour boat tours included. Prices start from Dh11,500 per person, with all local flights, meals and accommodation included; gondwanaecotours.com
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Retirement funds heavily invested in equities at a risky time
Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.
Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.
The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.
The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.
Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.
The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.
• Bloomberg
Women’s World T20, Asia Qualifier
UAE results
Beat China by 16 runs
Lost to Thailand by 10 wickets
Beat Nepal by five runs
Beat Hong Kong by eight wickets
Beat Malaysia by 34 runs
Standings (P, W, l, NR, points)
1. Thailand 5 4 0 1 9
2. UAE 5 4 1 0 8
3. Nepal 5 2 1 2 6
4. Hong Kong 5 2 2 1 5
5. Malaysia 5 1 4 0 2
6. China 5 0 5 0 0
Final
Thailand v UAE, Monday, 7am
