Andre Schurrle and Chelsea are two points behind Liverpool after their win on Sunday. Clive Brunskill / Getty Images / April 27, 2014
Andre Schurrle and Chelsea are two points behind Liverpool after their win on Sunday. Clive Brunskill / Getty Images / April 27, 2014
Andre Schurrle and Chelsea are two points behind Liverpool after their win on Sunday. Clive Brunskill / Getty Images / April 27, 2014
Andre Schurrle and Chelsea are two points behind Liverpool after their win on Sunday. Clive Brunskill / Getty Images / April 27, 2014

‘They’re jealous’ says Schurrle of Chelsea style critics


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Critics of Chelsea’s defensive approach in Sunday’s 2-0 win over Premier League leaders Liverpool are simply jealous, forward Andre Schurrle says, and the team will have no problem employing the same tactics if it brings further success.

Chelsea moved to within two points of Liverpool following the Anfield victory, but manager Jose Mourinho has come under fire since for his defensive tactics, with opposite Brendan Rodgers accusing him of “parking two buses”.

Chelsea took a similarly defensive approach to the first leg of the their Champions League semi-final away at Atletico Madrid last week, which ended goalless.

German Schurrle, who joined the west London club from Bayer Leverkusen in June, said critics of their approach were envious of its success and it did not matter how they played provided they won.

“Winning is what matters,” the 23-year-old was quoted as saying in British media ahead of Wednesday’s return leg with Atletico at Stamford Bridge.

“It’s the most important thing.

“You can play perfect football, have lots of one-touch stuff, and you lose. But that’s not what you want - you want to win. There’s no point in playing well and losing. If our plan is to win playing this way, and we win, then it is perfect.

“If people look at us and say ‘Chelsea can’t play’, even when we win, it’s just because they’re jealous.”

Chelsea stifled Liverpool’s much-vaunted attacking threat, scoring towards the end of each half through Demba Ba and Willian.

“We knew Liverpool would be that sort of game. The first thing that needed to do was make sure we didn’t concede and we did that very well.

“We knew it would be a very passionate game and we stood up to that, did what we had to do defensively and scored the two goals.

“We felt it was brilliant, a perfect game. We did exactly what we needed to do and what we were told to do. We wanted to win but we knew we needed to play with a compact defence and that then we’d have a few little chances to score, which is exactly what happened.

“The way it went meant that we had so many chances to play on the counter-attack. Sometimes you need a little bit of luck to take those chances but we did in the end and it was a perfect result for us.”

The result appeared to favour 2011/12 champions Manchester City, who are third on 77 points, one behind Chelsea and three off Liverpool but with a match in hand and superior goal difference.

Despite that, and Mourinho’s continued assertion that Chelsea cannot win the title, Schurrle insisted they could still win a league and European double.

“Everybody thinks we can win the league and the Champions League,” Schurrle added.

“We know it will be tough but we have to believe and we do. Of course it will be hard for us from here. We have to do everything in our power to win the two games we’ve got left and hope Liverpool and Manchester City both give us something. But we’re still in it.”

Chelsea’s final two league matches are against relegation-threatened Norwich City and Cardiff City.

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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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