BAGSHOT, ENGLAND // Danny Cipriani was dropped to the bench with Toby Flood drafted in to start at fly half against New Zealand on Saturday in one of three changes to the England team named by the manager Martin Johnson. Cipriani was widely criticised for his performance in last Saturday's 42-6 defeat by South Africa when, for the third time, he gave away a try with a charged-down kick. Leicester's Flood has 21 caps, 11 of them as replacement, but has usually operated at centre.
The two other changes announced are in the pack where Nick Kennedy, who scored a try on debut against the Pacific Islanders but was subsequently overlooked, comes back in for Tom Palmer, who has a calf injury, and Michael Lipman replaces Tom Rees. Rees drops to the bench but Palmer and his replacement during Saturday's match, Simon Shaw, are out of the 22-man squad as Johnson reverts to a more traditional 4/3 split of forwards and backs by adding the centre Dan Hipkiss to the bench.
There is no specialist lock on the bench but Tom Croft adds a line-out option. The New Zealand-born Riki Flutey has recovered from a hamstring strain to start at inside centre but Andrew Sheridan failed to recover from the neck injury that ruled him out of the Springbok game leaving Tim Payne to again start at loose head prop. "We picked the team we thought gave us the best chance of winning," Johnson said. "Danny is still involved, he's on the bench, but it gives Toby a chance to show what he can do.
"I'm sure Danny has a long international future ahead of him, it's not a finite decision. This whole series is a squad effort and the bench plays an important part in any game these days." Johnson said that Rees had his best game of the November international season last Saturday. "But he's started all three and we wanted to give Mike a start," he added. England need an unlikely victory to reclaim a place in the top four of the world rankings and a top-four seeding in next Monday's draw for the 2011 World Cup.
New Zealand need a win to secure their third grand slam having already beaten Scotland, Wales and Ireland. *Reuters
COMPANY%20PROFILE%20
SUCCESSION%20SEASON%204%20EPISODE%201
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.”
You might also like
Company%20profile
Dubai Creek Open in numbers
- The Dubai Creek Open is the 10th tournament on this year's Mena Tour
- It is the first of five events before the season-concluding Mena Tour Championship
- This week's field comprises 120 players, 21 of which are amateurs
- 15 previous Mena Tour winners are competing at Dubai Creek Golf and Yacht Club
SPEC%20SHEET%3A%20APPLE%20IPAD%20PRO%20(12.9%22%2C%202022)
While you're here
Gavin Esler: Will 2021 be Boris Johnson's worst year?
Thomas Harding: US relations with Europe could change
Brodie Owen: How England’s new lockdown rules work
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
On Women's Day
Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action
Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?
Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality
The National Editorial: Is there much to celebrate on International Women's Day 2021?
While you're here
Thomas Harding: Johnson and Biden on collision course over Northern Ireland
Thomas Harding: Biden victory will rejuvenate America's relations with Europe
Gavin Esler: Can the world continue to trust Britain after move to break law?
While you're here
Sulaiman Hakemy: Why it's important to lose elections
Rashmee Roshan Lall: US race relations in three words
Michael Goldfarb: First debate marks the end of an era
Transgender report
While you're here
National Editorial: World trade has started to look inwards
Callum Patton: ‘Arrival of Asian century’ has eclipsed US
Robin Mills: Importance of China's energy markets clearer
While you're here
The bio
Academics: Phd in strategic management in University of Wales
Number one caps: His best-seller caps are in shades of grey, blue, black and yellow
Reading: Is immersed in books on colours to understand more about the usage of different shades
Sport: Started playing polo two years ago. Helps him relax, plus he enjoys the speed and focus
Cars: Loves exotic cars and currently drives a Bentley Bentayga
Holiday: Favourite travel destinations are London and St Tropez
On Women's Day
Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action
Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?
Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality
Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'
MORE FROM ED HUSAIN: The UAE-Israel accord is a win for every Muslim
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Four%20scenarios%20for%20Ukraine%20war
On Women's Day
Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action
Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?
Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'
The National Editorial: Is there much to celebrate on International Women's Day 2021?
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
House-hunting
Top 10 locations for inquiries from US house hunters, according to Rightmove
- Edinburgh, Scotland
- Westminster, London
- Camden, London
- Glasgow, Scotland
- Islington, London
- Kensington and Chelsea, London
- Highlands, Scotland
- Argyll and Bute, Scotland
- Fife, Scotland
- Tower Hamlets, London
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
While you're here
Joyce Karam: Chaotic first debate unlikely to swing undecideds
Hussein Ibish: Donald Trump's 3-step plan to cling to power
Sulaiman Hakemy: Make America lose again
Structural%20weaknesses%20facing%20Israel%20economy
Huddersfield Town permanent signings:
- Steve Mounie (striker): signed from Montpellier for £11 million
- Tom Ince (winger): signed from Derby County for £7.7m
- Aaron Mooy (midfielder): signed from Manchester City for £7.7m
- Laurent Depoitre (striker): signed from Porto for £3.4m
- Scott Malone (defender): signed from Fulham for £3.3m
- Zanka (defender): signed from Copenhagen for £2.3m
- Elias Kachunga (winger): signed for Ingolstadt for £1.1m
- Danny WIlliams (midfielder): signed from Reading on a free transfer
Roll of honour 2019-2020
Dubai Rugby Sevens
Winners: Dubai Hurricanes
Runners up: Bahrain
West Asia Premiership
Winners: Bahrain
Runners up: UAE Premiership
UAE Premiership
}Winners: Dubai Exiles
Runners up: Dubai Hurricanes
UAE Division One
Winners: Abu Dhabi Saracens
Runners up: Dubai Hurricanes II
UAE Division Two
Winners: Barrelhouse
Runners up: RAK Rugby
While you're here
National Editorial: What 'Fight Island' means for Abu Dhabi and the world
National Editorial: The UAE looks to cycling for exercise and for the planet
Gareth Cox: Sporting week in pictures, as Covid-19 makes its presence felt
