Arsenal may want to avoid Manchester on August 28 in the future. On the 10th anniversary of an 8-2 thrashing at Old Trafford, they reached another historic low on the other side of the city.
As Manchester City surged to a victory that gives Pep Guardiola the extraordinary record of 31 points from a possible 33 against Arsenal, his former assistant’s problems mounted. Humiliated and eviscerated, Arsenal are in dire straits.
Mikel Arteta has overseen Arsenal’s poorest start to a season for 67 years. They have yet to get a point or a goal. Indeed, they got a red card before either, with Granit Xhaka dismissed in disgrace, ensuring there was no recovery after a wretched start.
Perhaps they could be grateful that City signed neither Harry Kane nor Cristiano Ronaldo but the margin of victory was emphatic without either. Arsenal found Ferran Torres and Gabriel Jesus problematic enough, as each carried on where he left off against Norwich to secure a second straight 5-0 win.
Jack Grealish earned a first assist for a new club, while Ilkay Gundogan, Bernardo Silva and Rodri stroked the ball around in midfield, with two scoring.
City made a false start to the season against Tottenham but found a second date with north London opponents more to their liking. They were outstanding, even if the perfectionist in Guardiola said: “It was nice winning but we have to be better." But City had 25 shots to Arsenal’s lone one and those kind of numbers would long have felt implausible.
“It is time to reflect and look in the mirror and try to change the dynamic,” Arteta said. “I question myself and I have to try and have the right people around me and look at every decision I make.”
And those best-laid plans were in ruin inside a quarter of an hour. He had reverted to the 3-4-3 formation he used when beating City in the 2020 FA Cup semi-final. History did not repeat itself. Indeed, the closest thing to a sequel was when Gundogan almost scored two headers in quick succession.
The first did count, the German escaping in space behind Calum Chambers to meet Jesus’ deep cross. It was the fourth goal the Brazilian had set up in two games as he savoured his reinvention as a right winger. City’s top scorer last season, Gundogan is continuing in a similar vein.
Manchester City v Arsenal player ratings
Then Silva curled in a low cross that a series of stretching Arsenal defenders could not reach. Torres did, timing his run and guiding his finish in. He doubled his tally with a late header from Riyad Mahrez’s cross and while Torres may lack the scoring pedigrees of Kane and Ronaldo, they were strikers’ goals and his display supported Guardiola’s belief that is turning to in a centre-forward. “That is why we didn’t need a striker,” Guardiola said. “He makes movements like the best strikers in behind, like Jamie Vardy. He is a good finisher.”
The third goal illustrated part of Guardiola’s ethos, with a goal that stemmed from Ederson’s ability to pass the ball out from the back. He found Torres, who picked out Grealish. A fast, direct dribble from the summer signing later, he had found Jesus, who tucked in his first goal of the season. Ederson had almost taken a policy of playing out from the back a little far earlier, Emile Smith Rowe charging down a pass and almost turning it in.
“We have to play 60 minutes with 10 men against the best team in the league,” Arteta lamented but that was Xhaka’s fault after he jumped in two-footed at Joao Cancelo. The resulting red card felt inevitable to all but Arsenal.
City had still more room to excel against 10 men and, teed up by Torres, Rodri guided in a shot from outside the box. Torres made it five and, but for Bernd Leno’s saves from Raheem Sterling, it would have been more.
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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Company%20profile
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Results
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RESULTS
2.15pm: Al Marwan Group Holding – Handicap (PA) Dh40,000 (Dirt) 1,200m
Winner: SS Jalmod, Antonio Fresu (jockey), Ibrahim Al Hadhrami (trainer)
2.45pm: Sharjah Equine Hospital – Maiden (PA) Dh40,000 (D) 1,000m
Winner: Ghallieah, Sebastien Martino, Jean-Claude Pecout
3.15pm: Al Marwan Group Holding – Handicap (PA) Dh40,000 (D) 1,700m
Winner: Inthar, Saif Al Balushi, Khalifa Al Neyadi
3.45pm: Al Ain Stud Emirates Breeders Trophy – Conditions (PA) Dh50,000 (D) 1,700m
Winner: MH Rahal, Richard Mullen, Elise Jeanne
4.25pm: Sheikh Mansour bin Zayed Al Nahyan Cup – Prestige Handicap (PA) Dh100,000 (D) 1,200m
Winner: JAP Aneed, Ray Dawson, Irfan Ellahi
4.45pm: Sharjah Equine Hospital – Handicap (TB) Dh40,000 (D) 1,200m
Winner: Edaraat, Antonio Fresu, Musabah Al Muhairi
Roll%20of%20Honour%2C%20men%E2%80%99s%20domestic%20rugby%20season
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TEAMS
US Team
Dustin Johnson, Jordan Spieth
Justin Thomas, Daniel Berger
Brooks Koepka, Rickie Fowler
Kevin Kisner, Patrick Reed
Matt Kuchar, Kevin Chappell
Charley Hoffman*, Phil Mickelson*
International Team
Hideki Matsuyama, Jason Day
Adam Scott, Louis Oosthuizen
Marc Leishman, Charl Schwartzel
Branden Grace, Si Woo Kim
Jhonattan Vegas, Adam Hadwin
Emiliano Grillo*, Anirban Lahiri*
* denotes captain's picks
UAE currency: the story behind the money in your pockets
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