Manchester United forward Cristiano Ronaldo said the team takes the blame for Sunday's embarrassing defeat to Liverpool adding that the club's fans deserve much better.
Mohamed Salah was the architect of Liverpool's 5-0 thumping on the turf of their bitter rivals, becoming the first visiting player to score a hat-trick at Old Trafford since Brazil striker Ronaldo in 2003 while Paul Pogba was shown a red card minutes after coming on as a second-half substitute.
The defeat means United are winless in their last four Premier League games as they slipped to seventh in the table and heaped more pressure on under-fire manager Ole Gunnar Solskjaer.
"Sometimes the result is not the one we fight for. Sometimes the score is not the one we want. And this is on us, only on us, because there's no one else to blame," Ronaldo, who returned to the club in the summer for his second spell, said on Instagram.
"Our fans were, once again, amazing in their constant support. They deserve better than this, much better, and it’s up to us to deliver. The time is now!"
Defender Luke Shaw, who made a series of defensive errors alongside captain Harry Maguire on Sunday, echoed Ronaldo's comments.
"We are extremely disappointed, it is not good enough and it hurts a lot," Shaw told the club website. "I think football is obviously a team sport, we are in it together and we are all together.
"But I think, as individuals, we need to take responsibility for some of the actions tonight ... I have not been at my best and I know that, for maybe the last few weeks, so I need to reflect on that."
Solskjaer played down suggestions he will step down from his role after Sunday's mauling.
His position has come under more scrutiny after the manner of the defeat - United went into the interval 4-0 down - but the Norwegian vowed to stay and fight for his job.
"I do believe in myself," Solskjaer told reporters. "I do believe that I'm getting close to what I want with the club. I think what we've done, what I've seen, the development.
"Of course, the results lately haven't been good enough, I have to say, and that's ... hands up. And that brings doubt in anyone's mind, probably. But I've got to keep strong and I do believe in what we've been doing."
United are eight points behind league leaders Chelsea and play away to Tottenham Hotspur in the league on Saturday before travelling to Italy three days later to face Atalanta in the Champions League group stage.
"Today's rock bottom, low in confidence," Solskjaer added. "But, you know, the next week it's Tottenham away. It's a Champions League game, Atalanta, the next team who visits us is Manchester City.
"We have to look forward. We have to sort the frame of minds out and make sure we go into the next training session in the next game with the right frame of mind."
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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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Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5