Liverpool captain Steven Gerrard, left, rushes to congratulate teammate Philippe Coutinho after the Brazilian scored his side’s winner against Manchester City at Anfield April 13, 2014. Getty Images
Liverpool captain Steven Gerrard, left, rushes to congratulate teammate Philippe Coutinho after the Brazilian scored his side’s winner against Manchester City at Anfield April 13, 2014. Getty Images
Liverpool captain Steven Gerrard, left, rushes to congratulate teammate Philippe Coutinho after the Brazilian scored his side’s winner against Manchester City at Anfield April 13, 2014. Getty Images
Liverpool captain Steven Gerrard, left, rushes to congratulate teammate Philippe Coutinho after the Brazilian scored his side’s winner against Manchester City at Anfield April 13, 2014. Getty Images

Gerrard can champion his own cause


Richard Jolly
  • English
  • Arabic

He put a forearm to his face at the end, wiping away the tears as his joyous teammates bounced around him.

Steven Gerrard, the hero of Istanbul, perhaps the greatest player in Liverpool’s wonderful history, is four games away from ending a career-long crusade.

“Dare to dream,” read the banner on a plane flying over Anfield.

Gerrard probably gave up dreaming. He probably abandoned hope that he would become a champion of England.

Until now. Until this extraordinary, improbable title challenge. Until Liverpool acquired the sort of momentum, a sense that, despite their flaws, they were unstoppable, a feeling they have not had since Gerrard powered them to Uefa Champions League glory in 2005.

There were moments when it felt the dream was disappearing; when Manchester City rallied, producing the response of potential champions themselves; when Glen Johnson turned David Silva’s cross into his own net; when Luis Suarez looked as though his diving could bring his dismissal; when Martin Skrtel punched the ball away in his own box.

Yet a compelling story seems evermore likely to have a happy ending. Liverpool have a habit of coming out on top and a flair for the dramatic.

Philippe Coutinho’s winner immediately had the feel of one of those goals that shape a season, like Federico Macheda’s decider for Manchester United against Aston Villa in 2009 or Marc Overmars’s strike for Arsenal at Old Trafford in 1998.

The man who does not score often enough compensated in quality for the lack of quantity. But perhaps the best comparisons come from Liverpool’s past. This was a seminal Anfield moment, comparable with Gerrard’s 2004 winner against Olympiakos or Luis Garcia’s “ghost goal” against Chelsea a few months later.

This was a match where, with its twists and turns, Liverpool played havoc with their supporters’ emotions. It was reminiscent of the 2001 Uefa Cup final, or – that game again – Istanbul.

It was a performance that contained the pace, the power, the energy, the imagination and the ambition that has propelled this astonishing rise.

It contained the now-familiar, but still-spectacular, fast start, the tense ending and so much in between.

“The longest 90 minutes I have ever played in,” Gerrard said.

They were 90 minutes of incessant, unyielding drama. Liverpool’s is a rich tale containing so many stories, the heartwarming and the heartbreaking.

Jordan Henderson, the rescue act in the 4-3 win against Swansea, was sent off in added time, rightly – because his lunge at Samir Nasri deserved a red card – but cruelly, because an ever-present is now banned for three of the last four games.

Raheem Sterling, who could have been on loan at Swansea now, capped his reintegration and renaissance with a beautifully calm opener. Skrtel, surplus to requirements last summer, headed in his seventh goal of the season.

A centre-back has become a central figure. He is offering hope to the unwanted everywhere.

He rode his luck with his impromptu display of goalkeeping. Liverpool can argue that they are making their own.

Manager Brendan Rodgers’s bold, inventive tactics caught out City at the start. Sterling and Coutinho were elusive, Yaya Toure and Fernandinho outnumbered. Vincent Kompany and company were left dizzy by Liverpool’s movement.

Yet City’s comeback, the six minutes that threatened to put them in pole position in the title race, exacerbated Liverpool’s achievement as the latter recorded a 10th successive victory.

It was the biggest game of their season, some said the biggest at Anfield since 1990, and they won it.

“Probably the biggest statement we have made this far,” Gerrard said.

It was, as his reaction at the end showed, huge.

And then the emotion gave way to the task of galvanising his colleagues in a huddle on the Anfield pitch.

“We do not let this go,” he shouted.

And, with every game, it feels as though they will not.

sports@thenational.ae

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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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