Frankel is the highest-rated horse ever to grace a racecourse, and was unbeaten in 14 starts before retiring in 2012. Chris Levine / Leehwaik Gallery
Frankel is the highest-rated horse ever to grace a racecourse, and was unbeaten in 14 starts before retiring in 2012. Chris Levine / Leehwaik Gallery

First of Al Asayl’s two Frankel juveniles Majoris to debut at British Stallion Studs EBF Novice Stakes



The first of Al Asayl’s two Frankel juveniles lodged with Hugo Palmer in Newmarket take to the turf in competitive action at Haydock with Majoris set to face 13 rivals in the British Stallion Studs EBF Novice Stakes on Friday.

Majoris will sport the red and black starred silks of President Sheikh Khalifa bin Zayed’s operation and will be ridden by William Buick.

Frankel is the highest-rated horse ever to grace a racecourse, and was unbeaten in 14 starts before retiring in 2012.

Cunco, the first of his foals, ran at Newbury a fortnight ago and, fittingly for the legendary sire, won. Majoris, who was foaled on Valentine’s Day two years ago out of the beautifully bred but unsuccessful mare Drops, is not certain to appreciate Friday’s distance of 1,200 metres and could be seen to better effect over further.

Related: In Cloth Of Stars, jockey Mikael Barzalona feels 'I have the horse to win' Epsom Derby

Read also: Awtaad, a colt proving to be of the highest order, targeted for Royal Ascot

“This will be an important part of his education,” Palmer said. “I don’t think we expect him to win as this could be too short for him, but because we really like him it wouldn’t be a shock if he did.

“He came to me in December. He has been straightforward to train and has been very willing in his work and is very well balanced. Hopefully he will have a similar attitude at the races.”

Majoris was bred by Al Asayl, and is one of around 10 horses at Palmer’s Kremlin Cottage Stables owned by Sheikh Khalifa. Of those, Tsavo also shares Frankel as his sire.

“He is a long way off getting to the racecourse, but he is very nice,” Palmer added. “Of the three Frankels I have, the other is owned by Al Shaqab. Tsavo looks most like his father. He is much bigger than the other two and has not yet been asked to gallop.

“Majoris is more like Cunco, a smaller more compact type. I’m hoping for a nice introduction, but we haven’t wound him up to win first time out. He’s ready to start, but it’s a stepping stone for where we want to go.”

The seventh World Arabian Horse Racing Conference opened in Rome on Thursday.

His Excellency Saqr Naser Al Raisi, the UAE Ambassador to Italy, welcomed over 500 delegates from nearly 100 countries for the three-day annual event.

“We have to hail the support of the leadership of the UAE, who have led from the front in helping the heritage sport of the country grow,” he said.

“And with this Arabian racing has gained tremendously. We hope this conference adds to the growth and progress of the sport all over the globe.”

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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
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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.”

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

Padmaavat

Director: Sanjay Leela Bhansali

Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh

3.5/5

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