Jose Mourinho has told his Chelsea players to face their problems head on and not to hide like ostriches.
Chelsea will bid to improve on their miserable start to the season – four wins in 11 games in all competitions, including two in seven in the Premier League – against Southampton on Saturday.
Amid talk of a crisis and suggestions of rifts within the squad, Mourinho is defiant, and he became the second Premier League manager in under a year after former Leicester City coach Nigel Pearson to make a reference to a certain flightless bird.
Read more: How will Chelsea fare against Southampton? Graham Caygill predicts the Premier League weekend
“There is an animal that puts its head in the ground ... an ostrich,” Mourinho said.
“In the bad moments, you cannot do that and just wait for a better moment to come, or for the problems to be resolved by themselves.
“Or waiting for the moon to change and give you better vibrations. You make mistakes, you are in a bad moment, no ostrich, head up, face the problems, speak, work. For me, this is the way.”
Pearson was forced to apologise for calling a journalist an ostrich during a tetchy press conference in April.
Mourinho says players shirking responsibility would be a poor response, but he believes the 2-0 win over Arsenal showed that is not the case with his players.
“Sometimes, players are on the pitch and they are hidden,” he added.
“It’s the worst thing, when you don’t want to be there. You lose two or three matches, the next match you play at home and you don’t want to be there.
“I think we showed against Arsenal that we don’t have that profile. We came against Arsenal in a worse run than now, after Crystal Palace and Everton.
“I don’t think we’ll be in trouble not to have the desire and personality to play.”
Mourinho defended his methods after suggestions some players were unhappy with his criticism, insisting it is imperative to rebuke players in front of their teammates.
“Of course in front of the other players, because I coach,” Mourinho said.
“When I criticise the mistake of my right-back and Ola Aina is present, it’s an education for him.
“When I criticise a mistake of Gary Cahill and John Terry is in the meeting, if he didn’t play he knows what I want.
“If I criticise Willian for his movement, Pedro is listening and learning.”
Even Eden Hazard, Chelsea’s standout performer last term, has not been immune, dropping to the substitutes’ bench for Tuesday night’s loss at FC Porto.
Mourinho had an explanation for Hazard’s sub-standard display in last Saturday’s draw at Newcastle – the Belgian had become a father for the third time the previous evening – and insists the forward remains the Premier League’s best.
“If we arrive in May and Eden Hazard doesn’t have a good period, we are in trouble and he is too because his season was very bad,” Mourinho added.
“He played very well against Arsenal. Against Newcastle he was all night without sleeping because his baby was born that night.
“He travelled on the morning of the game and wasn’t in the best condition. He’s in a period where he’s not at the top of his game, but he’s the best.”
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RESULTS
Bantamweight title:
Vinicius de Oliveira (BRA) bt Xavier Alaoui (MAR)
(KO round 2)
Catchweight 68kg:
Sean Soriano (USA) bt Noad Lahat (ISR)
(TKO round 1)
Middleweight:
Denis Tiuliulin (RUS) bt Juscelino Ferreira (BRA)
(TKO round 1)
Lightweight:
Anas Siraj Mounir (MAR) bt Joachim Tollefsen (DEN)
(Unanimous decision)
Catchweight 68kg:
Austin Arnett (USA) bt Daniel Vega (MEX)
(TKO round 3)
Lightweight:
Carrington Banks (USA) bt Marcio Andrade (BRA)
(Unanimous decision)
Catchweight 58kg:
Corinne Laframboise (CAN) bt Malin Hermansson (SWE)
(Submission round 2)
Bantamweight:
Jalal Al Daaja (CAN) bt Juares Dea (CMR)
(Split decision)
Middleweight:
Mohamad Osseili (LEB) bt Ivan Slynko (UKR)
(TKO round 1)
Featherweight:
Tarun Grigoryan (ARM) bt Islam Makhamadjanov (UZB)
(Unanimous decision)
Catchweight 54kg:
Mariagiovanna Vai (ITA) bt Daniella Shutov (ISR)
(Submission round 1)
Middleweight:
Joan Arastey (ESP) bt Omran Chaaban (LEB)
(Unanimous decision)
Welterweight:
Bruno Carvalho (POR) bt Souhil Tahiri (ALG)
(TKO)
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F1 The Movie
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Director: Joseph Kosinski
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FA Cup final
Chelsea 1
Hazard (22' pen)
Manchester United 0
Man of the match: Eden Hazard (Chelsea)
Bareilly Ki Barfi
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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.
“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.”
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