Hernan Crespo declared his trust in a turnaround, that the narrow defeat that had just terminated near Tokyo had not shaken his conviction.
Not long after, defender Khalid Al Hashemi rued how the opening leg of Al Ain’s first Asian Champions League final in an age had been decided by “the little details”. Yet he quickly reminded how the tie was still very much in the balance.
Kaku echoed his teammate’s sentiment; Park Yong-woo too. The disappointment was writ large – Al Hashemi spoke of the players being “devastated” – but there remains another chapter to be penned in this sudden rivalry with Yokohama F Marinos; another opportunity for Al Ain to grasp a second continental crown 21 years after the first.
On Saturday, at a thronged Yokohama International Stadium that bounced and beckoned on the hosts for the most part, Al Ain had not been at their best.
Granted, they were 1-0 up against Yokohama F Marinos as early as the 12th minute, Soufiane Rahimi devastating once more on the break, Mohammed Abbas supplying the finish from the rebound.
And they did have other moments, as well. Right on the half hour, Matias Palacios celebrated what he and Al Ain thought was a second goal of the night. Having raced off and revelled in front of their pocket of fans tucked away in the corner, VAR soon dampened Al Ain’s delight. Palacios had gone a fraction early to receive the ball that set him free. The call was tight; those pesky VAR lines had to be applied.
Yet Yokohama created chances of their own. Their finishing was wayward at times, at others Al Ain goalkeeper Khalid Essa was inspired.
But, faced with the unfamiliarity of a first Champions League final and the pressure that brings, Yokohama fought back. Eventually, Harry Kewell’s side got their reward when Asahi Uenaka equalised, and Kouta Watanabe snatched it late on.
Speaking to the gathered media as his players stayed out on the pitch and took in their supporters’ applause, Kewell urged caution within his group.
"I'm not going to sit here and say the game is finished," the former Liverpool forward said. "I'm not silly enough to do that … they can enjoy the moment, but there's still a long way to go in this tie."
That’s not to say Kewell wasn’t confident on delivering Yokohama, like Al Ain a surprise finalist, the trophy. He predicted they will score in the Garden City, that his side would relish the challenge.
In all likelihood, that is what it will be. Al Ain have been almost exemplary at home this season in Asia’s foremost club competition, winning all but one of their six matches there.
In the quarter-finals, they repelled Cristiano Ronaldo and his star-studded Al Nassr, triumphing 1-0; in the semi-final, against a glittering Al Hilal on a world-record run of 34 wins, Al Ain raced to a 3-0 lead within 38 minutes and ultimately prevailed 4-2.
“I’m very confident,” Crespo said plainly in the aftermath on Saturday. “Because we play at home, and I know what it means to play at home with our fans. Today was not so easy because the [Marinos] fans shout and support their team, and in two weeks it will be the opposite.
“We need to take advantage of that. We believe we can do it.”
Undoubtedly, Al Ain will enjoy a similarly fierce backing on May 25 as Yokohama did on Saturday. For sure, they will have to harness it like their Japanese opponents, like they did in the previous rounds when up against two of the most talent-packed teams in Asia.
In saying that, Al Ain must handle the tension that comes with it. The Champions League represents the title the club covet most, that famed 2003 success growing more sepia-tinged by the year.
In 2016, their most recent final appearance, Al Ain lost 2-1 away to Jeonbuk Hyundai Motors in the initial leg – they struck first in that encounter also – but failed to get over the line. They drew at home to lose 3-2 overall.
They will be determined that history does not repeat. As Kaku urged before the team set off for the long journey back to the UAE and with the opening result still to sink in, Al Ain must stay strong, stay together.
“Believe … only believe,” he said. “And the good result will come.”
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.”
The nine articles of the 50-Year Charter
1. Dubai silk road
2. A geo-economic map for Dubai
3. First virtual commercial city
4. A central education file for every citizen
5. A doctor to every citizen
6. Free economic and creative zones in universities
7. Self-sufficiency in Dubai homes
8. Co-operative companies in various sectors
9: Annual growth in philanthropy
The biog
Profession: Senior sports presenter and producer
Marital status: Single
Favourite book: Al Nabi by Jibran Khalil Jibran
Favourite food: Italian and Lebanese food
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