A defiant Joachim Loew praised Germany's display in Tuesday's 2-1 Uefa Nations League defeat by world champions France as he lamented "a totally unjust penalty" awarded to the hosts.
Antoine Griezmann hit a pair of second-half goals, including the winner from the spot, as France recovered from falling behind to a Toni Kroos penalty to inflict a sixth defeat on Germany in their past 10 matches.
The result eliminated Germany from Nations League title contention, and left them needing to beat the Netherlands in their final group match on November 19 if they are to avoid relegation from the top tier.
However, Low insisted he was "very pleased" with the performance as Germany were much improved compared to the team that lost 3-0 against the Netherlands in Amsterdam.
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"I'm disappointed with the result, although though I must say the defeat is different to Saturday's," said Low. "Not because of the result but because of the performance. I'm very pleased with the performance.
"I think we were on an even level with what is probably the best team in the world. But France has a lot of individual quality, and if you're not careful you'll get punished straight away."
A first defeat to the neighbouring Dutch in 16 years prompted Low to make five changes for the trip to Paris, as he injected additional pace into the attack with the inclusions of Leroy Sane and Serge Gnabry.
The Germans deservedly led through a Kroos penalty after a sliding Presnel Kimpembe handled a Sane cross, but Low's youthful frontline was unable to capitalise on further opportunities.
"The negative point is the converting of our chances. We were unable to put the ball in the goal," said Low. "I think we deserved to win because we were the best team but that's not how things work.
"We lacked a bit of intelligence and sangfroid. If we'd been able to score a second we could have played in a calmer manner and won the match."
Griezmann equalised with a magnificent glancing header from a Lucas Hernandez cross on the hour, and the Atletico Madrid striker won the game for France with a penalty 10 minutes from time.
Low was particularly unhappy with referee Milorad Mazic's decision to award France a spot-kick after Blaise Matuidi went to ground after a tangle with Mats Hummels.
"The penalty was totally unjust," said Low. "I've watched it back on the replay. Mats didn't touch Matuidi. He stepped on Mats' foot and then slipped."
That grievance aside, Low singled out the positive contributions of Bayern Munich winger Gnabry, who made his first Germany appearance since November 2016, as well as Paris Saint-Germain defender Thilo Kehrer.
"It was a really good display from the young players," said Low. "Gnabry played well and Kehrer too, it was first time he has started. It was a very, very good performance and something to build on for the future."
Didier Deschamps' France can clinch top spot in the group with a draw in their final game away to the Netherlands in Rotterdam next month.
"It's a good thing in terms of our aim of finishing top of the group but we were up against a very good German side today," said Deschamps. "Hugo [Lloris] ensured it was only 1-0 to them at the break and that we were still in it."
Griezmann admitted Germany's revamped set-up had knocked France off track initially, but he said a series of "calm" exchanges at half-time allowed them to regain their rhythm.
"We played poorly in the first half. I think we were disrupted by them playing three at the back, so we had to calmly speak a bit in the dressing and change two or three things tactically," Griezmann told French television.
"It was better afterwards. It's more than tactical, we weren't making the effort for one another. We became world champions by working for each other and that's the only way you will win matches."
MATCH INFO
Uefa Champions League, last-16 second leg
Paris Saint-Germain (1) v Borussia Dortmund (2)
Kick-off: Midnight, Thursday, March 12
Stadium: Parc des Princes
Live: On beIN Sports HD
Company Profile
Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8
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.”
Afghanistan fixtures
- v Australia, today
- v Sri Lanka, Tuesday
- v New Zealand, Saturday,
- v South Africa, June 15
- v England, June 18
- v India, June 22
- v Bangladesh, June 24
- v Pakistan, June 29
- v West Indies, July 4
Company Profile
Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed
