A winter arrival last season transformed Everton but Carlo Ancelotti is adamant their chances of qualifying for the Champions League do not depend upon this month’s transfer window.
Ancelotti surprised many when the triple Champions League winner joined Everton, who were then languishing in 15th. They finished 2020 in the top four and could go second on Friday, if only for a couple of hours.
Everton’s ambition has proved expensive during Farhad Moshiri’s ownership, with some £500 million ($683.5m) spent on players, but while Ancelotti, unlike some of his predecessors, has an excellent record in the transfer market during his time at Goodison Park he does not see buying as the key to success this season.
The Italian’s flagship signing James Rodriguez will sit out a sixth consecutive game when they host West Ham today while his former Napoli midfielder Allan, another who made an immediate impact, could be sidelined until the end of January.
But Abdoulaye Doucoure has taken on some of Allan’s defensive duties in a run of four consecutive wins while Ben Godfrey, bought from Norwich as a centre-back, has proved a revelation deputising for the injured Lucas Digne at left-back.
Everton’s brilliant December was all the more admirable because of the absentees. Ancelotti wants to strengthen, but by getting key players back and Richarlison is set to return against the Hammers.
“To be in the top four will not depend on the transfer window,” he said. “To be in the top four depends on the quality we are able to show in the second part of the season. That means also to try to avoid the injury that we had in the first part. We had important players out: Digne, Allan, Richarlison.
"If we are able to recover these players, the squad is good enough to be in European position. We have a good squad for this.”
And yet Ancelotti tried to dampen expectations. Everton’s excellence, coupled with the stuttering form of some of the usual suspects, has fostered optimism about belatedly bringing Champions League football to Goodison Park.
_______________________________________________________________
Everton 0 Manchester United 2: League Cup quarter-final player ratings
_______________________________________________________________
But four points separate eight teams who are between second and ninth and Ancelotti cautioned: “To be in the top four will be more difficult and also to have a fantastic transfer window in January will be difficult because there are really strong top teams.
"In this moment we are pleased to be there but this doesn’t mean we are at the same level as these top teams.”
For Everton, a good transfer window entails keeping those they already have. Ancelotti is confident Digne will sign a new contract. He also believes Robin Olsen will extend his stay on Merseyside. The goalkeeper was borrowed from Roma and Everton hope to agree a permanent deal.
“We are pleased to have him here,” Ancelotti said. “We are going to talk with him and his agent to find a solution for him to be here permanently. It can be for January or in June.” Olsen is likely to be on the bench today, but he has not just been brought in as Jordan Pickford’s understudy. Ancelotti has rotated and used the Sweden international in the win at Leicester.
Injuries have meant that, apart from a goalkeeper, his recent team selections have consisted purely of centre-backs, midfielders and Dominic Calvert-Lewin. Lacking some of his usual suppliers, the striker has gone five games without a goal.
“It is true he had less opportunity,” Ancelotti said. “In the last games, we didn’t have a lot of possession, we didn’t put in a lot of crosses because our full-backs were injured and we played a little bit differently. But he is doing well.” So are Everton.
TO%20CATCH%20A%20KILLER
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EDamian%20Szifron%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Shailene%20Woodley%2C%20Ben%20Mendelsohn%2C%20Ralph%20Ineson%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
MATCH INFO
Southampton 0
Manchester City 1 (Sterling 16')
Man of the match: Kevin de Bruyne (Manchester City)
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
Zayed Sustainability Prize
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
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.”
Five films to watch
Castle in the Sky (1986)
Grave of the Fireflies (1988)
Only Yesterday (1991)
Pom Poki (1994)
The Tale of Princess Kaguya (2013)