LONDON // Jose Mourinho delivered a clear sign he was fuming about the decision that cost Chelsea goalkeeper Thibaut Courtois a red card and handed Swansea the chance to secure a 2-2 draw from the penalty spot on Saturday.
The Chelsea manager refused to comment on the incident that saw Courtois challenge Bafetimbi Gomis on the edge of his penalty area in the 52nd minute at Stamford Bridge.
The striker went to ground, prompting referee Michael Oliver to send off Courtois and point to the spot after the foul was committed inside the area and had denied a scoring opportunity.
Gomis converted the penalty that allowed Swansea to equalise for the second time and ultimately denied Chelsea the opportunity to begin their defence of their Premier League title with a victory.
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Mourinho remonstrated angrily when the decision was made, but after the game his silence spoke volumes as the manager made it clear he was reluctant to go public with his feelings about the incident.
Asked about the decision, the manager said: “First game of the season, I don’t want to start in the first game.”
Mourinho confirmed he had seen a replay of the incident and insisted he attached no blame to Courtois.
The manager repeatedly has fallen foul of the FA after publicly criticising match officials.
Earlier this year he was fined £25,000 (Dh142,000) for comments he made following his side’s visit to Southampton when he complained of a “campaign” to influence decisions against his team.
Mourinho’s unwillingness to discuss Oliver’s performance suggested he might have started the new season with a resolution to keep his opinions about refereeing decisions to himself.
But the Portuguese denied this. “No, it is just because the first time I can control myself.
“I want to react this way so you don’t see he was (complaining) from Day 1. In Day 1 we were punished, but it was not on Day 1 that I opened my mouth.”
Chelsea’s failure to see out a game they had twice led inevitably throws focus on the development of the squad since last May when they won the title by eight points.
Oscar put them ahead in the 23rd minute and an own-goal by Swansea defender Federico Fernandez restored the lead after Andre Ayew had equalised for the visitors.
So far, only keeper Asmir Begovic and striker Radamel Falcao have come into the club as direct replacements for Petr Cech and Didier Drogba.
The manager was last week forced to defend the club’s approach which stands in contrast to the approach of Manchester City and Manchester United, who have invested heavily in their squads.
And while this result is unlikely to force a change of policy in the final weeks of the transfer window, criticism is sure to mount if Chelsea suffer many more disappointments.
“You know me and I think you don’t expect me after a bad result to come here and speak about the squad, the players, the transfer window and investments of other team so on, so,” Mourinho said.
“The players know one point is one point. Playing with 10 men for such a long time is much more difficult and, fundamentally, I am happy with the quality they had in the first half and I am happy with their spirit in the second half so we are in peace. We are not happy with the result.”
Swansea manager Garry Monk said the way Ayew took his goal offers a sign of things to come from the Ghana midfielder.
“I think he has come in and been incredible. He worked extremely hard with the group and the group have worked hard with him to make him settled,” Monk said.
“And it’s always good when you are in as a new player, in a new league, even though you have obvious qualities, to get that first goal. It will give him great confidence.”
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Name: HyperSpace
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Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
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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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