It counts as one of the more remarkable stories of this World Cup. Colombia were a man down after three minutes of their competition. They were a goal behind after six. To go on and win Group H, therefore, is an illustration of their powers of recovery.
But it also counts as one of the crueller tales in the tournament’s history. Senegal were eliminated because they collected two more cautions than Japan. They won as many games, scored as many goals, procured as many points. The footballing table was level. Senegal, while scarcely badly behaved, went out courtesy of the Fair Play table. They are the first team ever to be knocked out in such a way.
There is a case that they were the pool’s best side, just as they were arguably the better team on Thursday. Yet they slipped from first to third when Yerry Mina met Juan Fernando Quintero’s corner with the most emphatic of headers to set historical distinctions.
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More from 2018 World Cup:
John McAuley's World Cup diary: Fans in Russia have been amazing - and so has Google Translate
Germany and Low pay high price for too many pre-World Cup warnings going unheeded
WATCH: Lionel Messi sits out training as Argentina prepare for World Cup clash with France
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For the first time, Colombia have reached the last 16 in successive World Cups. For the first since 1982, there are no African representatives in the knockout stages. Senegal did not buckle under the pressure of carrying a continent’s hopes but lost anyway.
Like Nigeria, they can count themselves unfortunate. They only needed a draw to progress and came agonisingly close. They can regret one piece of slack marking at a set-piece and two equalisers they conceded to Japan in Yekaterinburg.
They can complain about the way Japan and Poland abandoned all attempts to score in the closing stages of their game.
They can also rue the introduction of VAR after initially being awarded a penalty. Keita Balde found Sadio Mane, who was bursting into the Colombia box. Davinson Sanchez slid in and referee Milorad Mazic pointed to the spot. When he reviewed the footage, he reversed his decision. Far from being a foul, it was a brilliant last-ditch challenge.
It was a triumph of technology and averted an injustice. Over the balance of play, however, the scoreline nevertheless felt unfair. Senegal were organised in defence and the more enterprising going forward. Mane threatened, with Davinson Sanchez often required to cover because he kept eluding Mina.
Yet Senegal had too few chances until they trailed. Then they arrived in a flurry. David Ospina made a fine stop from Ismaila Sarr’s shot. The winger volleyed way over. Ospina had to save to spare Mina an own goal.
Mina was more impressive at the other end. He has struck in successive matches, just as Quintero has recorded either a goal or an assist in all three group games. He could have scored another goal, with Khadim N'Diaye parrying his free kick, and he was the finest of Colombia’s front four.
He needed to be. Thursday marked the fourth anniversary of James Rodriguez’s superlative volley against Uruguay. It was not a happy one for the 2014 Golden Boot winner: there was no repeat, an upset Rodriguez being substituted after half an hour.
His anonymity could be forgiven; he was clearly hampered by injury. He was replaced by Luis Muriel, who grew in influence in the second half. He needed to, given Colombia did not muster a touch of the ball in the Senegal box in the opening hour.
Perhaps Mina’s header means Rodriguez’s World Cup is not over. It certainly helped bring a measure of redemption for Carlos Sanchez, the recipient of that red card against Japan and, disgracefully, death threats from his homeland. The midfielder returned after suspension with a quietly efficient display.
Yet while he got the group’s sole sending-off, Senegal paid the heavier penalty for indiscipline as they went out because of bookings.
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.”
Results
4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m; Winner: MM Al Balqaa, Bernardo Pinheiro (jockey), Qaiss Aboud (trainer)
5pm: Jabel Faya – Maiden (PA) Dh60,000 (T) 1,000m; Winner: AF Rasam, Tadhg O’Shea, Ernst Oertel
5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel
6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m; Winner: Mujeeb, Richard Mullen, Salem Al Ketbi
6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m; Winner: Jawal Al Reef, Antonio Fresu, Abubakar Daud
7pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m; Winner: Ashton Tourettes, Pat Dobbs, Ibrahim Aseel
7.30pm: Jebel Hafeet – Maiden (TB) Dh80,000 (T) 1,400m; Winner: Nibraas, Richard Mullen, Nicholas Bachalard
SPECS
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The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Awar Qalb
Director: Jamal Salem
Starring: Abdulla Zaid, Joma Ali, Neven Madi and Khadija Sleiman
Two stars
Best Foreign Language Film nominees
Capernaum (Lebanon)
Cold War (Poland)
Never Look Away (Germany)
Roma (Mexico)
Shoplifters (Japan)
