With much of his family and many friends back home, Alvaro Negredo is desperate for Spain to experience some respite, at the very least, from its current crisis.
The Al Nasr captain is acutely aware of the situation in his homeland, where its 140,000-plus confirmed cases of Covid-19 ranks as the second highest in the world. Of those, more than 13,500 have died while more than 48,000 people have recovered as of Wednesday evening.
Negredo monitors developments from his current residence in Dubai, training alone as the Arabian Gulf League shutdown continues. Outside of that, he spends the additional time with wife Amparo, oldest daughter, Maria, and son, Alvaro Jr.
His thoughts, though, are never far from home.
"It is really, really complicated," Negredo tells The National. "My wife and two of my children are here, but in Spain there is one of my daughters, my parents, my brothers ... I always worry that something may happen to them and I could not help them. I hope everything will be fine soon."
Negredo talks every day with his family in Spain, checking in to see if they are OK, enquiring if there is anything he can do to help. This far from a lot of his loved ones, it's both a frustration and a significant concern.
“It's not easy,” he says. “We are in a situation that we would never have imagined. The only thing we can do is trust in the authorities and hope that we will go through this soon. I am sure that, in time, everything will be normal again.”
For sure, football runs secondary. At 34, Negredo is keeping in shape in preparation for the Arabian Gulf League’s eventual resumption, whenever that may be.
Postponed on March 15, organisers have yet to decide when the UAE top flight shall return to action. Nineteen rounds in, Nasr sit sixth in the standings.
“It’s really different,” Negredo says. “We must adapt to the situation and try to do what the authorities tell us. I am trying to spend more time with my family.
“I'm following the training plan the club has given us, trying to keep my diet as good as possible so that, when this situation passes, I can be as fit as possible.”
Negredo stays in contact with his Nasr colleagues via their Whatsapp group. There, the players discuss those training plans, or simply provide updates as to how they are doing. They are not together, but they feel connected.
A former Spain international, Negredo chats most often with Toze and Esteban Pavez, teammates from Portugal and Chile, respectively. He speaks regularly with Pedro Conde, a fellow countryman who plies his trade at league leaders Shabab Al Ahli Dubai.
Maybe, at some stage in the not-too-distant future, they can chew over Conde's league winner's medal, should the competition be concluded. At present, all options remain open: resume the league as normal when safe to do so, play those matches without fans, or even cancel the season.
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Al Nasr manager Jurcic on family fears as Zagreb grapples with twin threats
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For what it's worth, Negredo would like to see the campaign completed.
“A football player loves to play,” says the striker, a Premier League winner with Manchester City, one of the many European clubs he has represented with distinction. “The most beautiful thing would be to finish the league with your fans in the stands.
“It is a very difficult decision. The first thing is everyone's health. Once the situation is under control, it will be time to see what dates are available and see if it is possible to play. The best thing for me would be to finish the league.”
Most important, however, is doing whatever possible to support family and friends at home.
Asked what message he would send to his compatriots grappling with the coronavirus and its impact, Negredo says: "It is time to be together, trust the Spanish healthcare system, which is one the best in the world, and show that the Spanish never give up. We will get ahead soon."
More on animal trafficking
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What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
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.”
FIRST TEST SCORES
England 458
South Africa 361 & 119 (36.4 overs)
England won by 211 runs and lead series 1-0
Player of the match: Moeen Ali (England)
Company%20profile
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UAE currency: the story behind the money in your pockets
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
MATCH INFO
Everton 2 Southampton 1
Everton: Walcott (15'), Richarlison (31' )
Southampton: Ings (54')
Man of the match: Theo Walcott (Everton)
FIXTURES
Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)
Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)
Friday, February 1
Final, Zayed Sports City Stadium (6pm)
