Liverpool's Mario Balotelli, left, came off the bench against Crystal Palace's Pape Souare during their English FA Cup Fifth round match at Selhurst Park in London, Britain, 14 February 2015. Liverpool won 2-1. EPA/SEAN DEMPSEY
Liverpool's Mario Balotelli, left, came off the bench against Crystal Palace's Pape Souare during their English FA Cup Fifth round match at Selhurst Park in London, Britain, 14 February 2015. LiverpooShow more

Brendan Rodgers says Liverpool bench has depth and can change the momentum of a game



Liverpool manager Brendan Rodgers believes he has more strength in depth at his disposal than ever before.

Reds fans have lamented a lack of Plan B in recent years, never more so than after the home defeat to Chelsea last season which derailed their title charge.

Similar complaints reappeared earlier in the campaign, but now Rodgers believes he has the options to help alter things.

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That was underlined on Saturday, when he was able to bring on Mario Balotelli, Rickie Lambert and Dejan Lovren as Liverpool came from behind to beat Crystal Palace 2-1 and reach the FA Cup quarter-finals.

“For the first two years we didn’t have the possibility to change the momentum of a game – this year we plainly do,” Rodgers, whose bench also included Glen Johnson, Javi Manquillo and Fabio Borini, said.

“It’s so important in the modern game to have a bench that can come on and affect the game. That happened today (Saturday), which was great.”

The bookmakers believes such quality puts Liverpool amongst the favourites for this year’s FA Cup.

Their chances have been bolstered by the early exit of a host of Premier League clubs, although Rodgers believes winning it remains a “tough” ask.

“It is important for us,” he said. “I said at the beginning of the season that the objective is to win a trophy and be as strong as we can.

“The team is in good condition mentally and physically. We made a couple of changes but the team has been consistent.”

Liverpool will find out who they will face in the last-eight on Monday, while on Thursday they start a two-pronged charge on silverware.

The Reds dropped into the Europa League after failing to make it out of their Champions League group and they start their tilt for European glory against Besiktas.

“We want to play as many games as we can,” Rodgers said. “It will be tough but when you’re winning games it gives you energy.

“We had tough games this week but the players have been brilliant and come through it well.

“Now we’ll recover and really look forward to the Europa League because it’s a competition that, like the FA Cup, we want to do well in.”

As for Palace counterpart Alan Pardew, his goal is a lot more straightforward: Premier League survival.

The defeat to Liverpool was just their second in all competitions since he took over last month, but the recent managerial changes at other relegation-threatened sides has changed the dynamics somewhat.

“A new manager is going to have an impact at some stage,” Pardew said.

“Players have got a new challenge, a new start to a degree. Those managers will be using those factors.

“Of course now, it is going to be a real tough race. The prize is getting bigger and bigger each year and the pressure on the managers gets bigger and bigger - and you guys will keep reminding us at every game.”

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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.

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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.”