Mesut Ozil, bottom, has not been able to rise to the challenge enough for Arsenal. Eddie Keough / Reuters
Mesut Ozil, bottom, has not been able to rise to the challenge enough for Arsenal. Eddie Keough / Reuters

Mesut Ozil needs to earn his starting spot in Arsene Wenger’s Arsenal XI



Arsene Wenger has probably the best squad of midfield players in the Premier League. Chelsea have a better starting five, for sure, but Arsenal have strength in depth and serious quality in every area.

But does Wenger’s most expensive midfielder, the £42 million (Dh235m) Mesut Ozil, merit a place in his starting XI? No. Arsenal are a far more effective side without him.

Wenger plays 4-5-1, which becomes 4-3-3 at various times during the 90 minutes. It makes the two wide players particularly important as they are expected to do a defensive job one ­minute before joining the attack at pace.

Ozil is not very good at defending and does not offer the same pace on the break as the likes of Danny Welbeck, Theo Walcott or even Santo Cazorla.

With Welbeck fit again, Wenger will have a choice to make when Alexis Sanchez also returns from a hamstring problem, which could be as soon as Leicester City at home on Tuesday.

The French manager is already trying to cram a host of players into his central three.

When they are all fit you have Cazorla, Aaron Ramsey, Francis Coquelin, Mathieu Flamini, Alex-Oxlade Chamberlain, Jack Wilshere, Tomas Rosicky and Mikel Arteta.

That leaves Welbeck, Walcott, Sanchez and Ozil competing to play out wide. Sanchez is undroppable, Walcott and Welbeck are better finishers than Ozil. He is in danger of becoming an expensive bench warmer.

It is fine to stick him in for a home game against relegation candidates, but Arsenal are better in away games without him – see the 2-0 win at Manchester City.

Do not forget how little defensive effort Ozil offered in the 6-3 loss at City last season and the 5-0 drubbing at Liverpool.

Welbeck, on the other hand, offers Arsenal another dimension. He may not be thrilled about playing on the wing, but he beat his man for pace regularly yesterday and set up his team’s goal. He is also great in the air.

More importantly, he has the engine to keep running up and down the flank – Ozil does not seem to have that.

Ozil was not specifically to blame for yesterday’s defeat at Spurs, but the home side did dominate possession.

It is clear that, in picking Ozil, Wenger is losing some defensive solidity. He needs to decide if Ozil’s forward play is worth that sacrifice.

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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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Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million