On the basis that earliest memories generally start at three-and-a-half years old, there are teenagers in Germany who will not recall a time when anyone other than Bayern Munich were Bundesliga champions.
For the first time since 2012, there is a chance of somebody else engraving their name on the champion’s shield. Fair to say, it is not just Borussia Dortmund fans who are hoping their side end Bayern’s monopoly on the title.
It has been the most dominant streak in the history of football in the country by a vast margin. Ten years, and still with a chance of extending it to more.
Dortmund have a two-point lead over the holders ahead of their home game against Mainz on Saturday. Bayern travel to Cologne, hoping their title rivals cut them a break by slipping up.
It is the only one of Europe’s big five leagues with a live title race going into the final weekend of the season. So, with everything on the line, surely the nerves will be racing for Dortmund?
“At home, we are never nervous,” Karim Adeyemi, the winger, said after their win against relegation-threatened Augsburg on Sunday left Dortmund on the brink of the title.
“If we play like we have in recent weeks, we have not lost one game, so why should we lose the last one?”
Most onlookers will find it hard to believe the players will be stress free, given the stakes. But Paul Lambert, the former Scotland midfielder who won the Champions League while a player with Dortmund, understands Adeyemi’s statement.
“I have never ever been to a Dortmund game and experienced any negativity in that stadium,” Lambert said.
“When I played there, and when I went to watch the guys [play], I never felt any negativity. If you give effort, the Dortmund crowd will love you until the day you leave the club.
“If they see you really trying, they expect that because of the city that it is. For me, that is why I think they will win it. I don’t think they will be nervy.
“I have spoken to some friends who live in Dortmund and they have said they are quite nervous. They don’t need to be because they are playing ever so well.
“Mainz come there with nothing to lose. Of course, there is that little percentage that it could happen, but I don’t see it happening, not the way Dortmund are steamrolling teams at the stadium at the moment.”
Dortmund’s surge since the Bundesliga returned after the World Cup has been remarkable. In the 18 games since, they have won 14, drawn three, and lost just once, scoring 56 goals in the process. In the same time, Bayern have scored 41.
The 45 points they have gathered are 10 more than RB Leipzig, who are third in the table, and 11 more than Bayern.
The turnaround has coincided with the return of Sebastien Haller, who was diagnosed with cancer last year.
“The recovery he has made has been nothing short of miraculous,” Lambert said. “He has been a revelation in the second half of the season.”
By contrast, Bayern’s fortunes have turned since Germany returned from their abject showing in Qatar.
Axing Julian Nagelsmann as coach and replacing him with Thomas Tuchel has done little to improve their form. In fact, Tuchel’s average of 1.55 points per game since taking over last month is inferior to that of his predecessor.
“For many people it was a big surprise to change the coach at this time,” Lothar Matthaus, the Bayern great, said.
“He was doing a good job. Last year he won the German title. Sure, the Champions League results were not so great. This season they won eight games in the Champion League, beat Barcelona twice, beat Paris Saint-Germain twice.
“They were perfect results in the competition. In the Bundesliga results were not perfect, but they were not far away from the trophy.
“When I heard the news I thought it was a joke message. It wasn’t even April 1. It was a decision from the club that maybe there was something behind which we don’t know about.”
Dortmund's match against Mainz and Bayern's encounter with Cologne will both be shown live on BeIN Sports in UAE.
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THE BIO
Favourite place to go to in the UAE: The desert sand dunes, just after some rain
Who inspires you: Anybody with new and smart ideas, challenging questions, an open mind and a positive attitude
Where would you like to retire: Most probably in my home country, Hungary, but with frequent returns to the UAE
Favorite book: A book by Transilvanian author, Albert Wass, entitled ‘Sword and Reap’ (Kard es Kasza) - not really known internationally
Favourite subjects in school: Mathematics and science
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LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
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BMW M5 specs
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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.”
How will Gen Alpha invest?
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
RACE CARD AND SELECTIONS
5pm: Maiden (PA) Dh80,000 1,200m
5,30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,200m
6pm: The President’s Cup Listed (TB) Dh380,000 1,400m
6.30pm: The President’s Cup Group One (PA) Dh2,500,000 2,200m
7pm: Arabian Triple Crown Listed (PA) Dh230,000 1,600m
7.30pm: Handicap (PA) Dh80,000 1,400m
The National selections
5pm: RB Hot Spot
5.30pm: Dahess D’Arabie
6pm: Taamol
6.30pm: Rmmas
7pm: RB Seqondtonone
7.30pm: AF Mouthirah
