Carlo Ancelotti praises Real Madrid 'intensity' after comeback win against Sevilla


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Karim Benzema capped another thrilling Real Madrid comeback on Sunday as the Spanish league leaders came back from two goals down to defeat Sevilla 3-2.

The come-from-behind win in La Liga came just days after Real pulled off an epic comeback against Chelsea in the Champions League where Benzema's extra-time strike clinch a place in the semi-finals 5-4 on aggregate.

Defeat would have given fresh hope to the chasing pack, with Sevilla and Barcelona both beginning the day 12 points behind, Barca with two games in hand.

Instead, goals in the second half from Rodrygo, Nacho and Benzema in the 92nd minute mean Madrid extend their advantage to 15 points with six games left to play in La Liga.

"It's difficult to understand why we played like that in the first half and to be honest how we played as well as that in the second," said Real Madrid head coach Carlo Ancelotti.

"In the first half we looked tired. In the second, the intensity was spectacular."

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An Ivan Rakitic free-kick and Erik Lamela's smart finish had put Sevilla two up at the Ramon Sanchez Pizjuan.

Rakitic gave Sevilla the lead in the 25th minute, curling a free-kick into the corner after Luka Modric had brought down Papu Gomez.

Lamela doubled the advantage four minutes later, slotting after Tecatito drew out Thibaut Courtois and left the net open.

But a superb Vinicius Jr backheel for Dani Carvajal allowed Rodrygo to pull a goal back in the 50th minute.

Vinicius thought he had made it 2-2 in the 74th minute, only for the goal to be ruled out, the referee deciding the Brazilian had controlled with his arm and not his chest.

Madrid though were undeterred as Rakitic headed away a corner, only for Carvajal to drive to the line and pull back for Nacho to finish.

And then in the 92nd minute, Benzema completed another remarkable revival, collecting Rodrygo's pass, controlling and firing past three Sevilla defenders on the line.

Frenchman Benzema now has 44 goals in 46 appearances this season and 15 in his last 10.

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.”

Updated: April 18, 2022, 3:05 AM