Gio Ponti has the luck of the draw


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DUBAI // Gio Ponti, the favourite to land the Dubai World Cup, was last night given the ideal starting point to launch his challenge for the world's richest race. The American horse was drawn in gate four and Christophe Clement, his trainer, said: "It's exactly what we had hoped for, just perfect.

"We wanted him to be just about halfway along, so we are very happy." The Frenchman said that Gio Ponti, who has claimed four Grade One wins in the USA, had settled well since arriving in Dubai, his first trip outside the States. "He has travelled well and we have been doing some work in the gates so he feels completely at home." Gio Ponti, who will be ridden by Ramon Dominguez, was runner-up to US super-mare Zenyatta in November's Breeders' Cup Classic on Santa Anita's synthetic track.

Crowded House, one of the UK raiders in the US$10m (Dh37m) contest, will go from gate nine on Saturday. "We were hoping for gate seven, eight or nine, so you won't hear any complaints from us," said his handler, Brian Meehan. Crowded House, who was favourite for the Epsom Derby at one point last year before being hampered and running out a disappointing sixth to Sea the Stars, is believed to be back to his best.

He has claimed two second-placed finishes since arriving in the UAE for the start of the Carnival and Meehan said his charge needed the extra runs to be ready for his tilt at World Cup glory. "He is back to the horse that he was last year," said Meehan. "He has had a few preps for the big race and Meydan Racecourse was the best place to get him used to the Tapeta track, which is why we came out here early."

One of Godolphin's two World Cup hopes, the St Leger winner Mastery, was drawn in what might be regarded as an unfavourably wide position in gate 12. But his trainer, Saeed bin Suroor, was undaunted. "He is in great form," said bin Suroor of the colt who will be making his debut this season on Saturday. "He won the St Leger last year so he can compete in Group One company. "The gate may be wide, but he has a nice turn of foot and can cope with it and his jockey, Frankie [Dettori] knows him very well." Allybar, Godolphin's second runner who is saddled by their newly-appointed trainer Mahmoud al Zarooni, will start from gate one. "That is fine," said al Zarooni of the draw. "I am happy with that and very excited to have a runner in my own name in the world's richest race." @Email:stregoning@thenational.ae

Allybar - 1 Gitano Hernando - 2 Red Desire - 3 Gio Ponti - 4 Gloria de Campaeo - 5 Vision D'Etat - 6 Lizard's Desire - 7 Furthest Land - 8 Crowded House - 9 Richard's Kid - 10 Twice Over - 11 Mastery - 12 Mr Brock - 13 Amor de Pobre - 14

Company%20profile
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The specs: 2018 Nissan Altima


Price, base / as tested: Dh78,000 / Dh97,650

Engine: 2.5-litre in-line four-cylinder

Power: 182hp @ 6,000rpm

Torque: 244Nm @ 4,000rpm

Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

Results

5pm: Al Maha Stables – Maiden (PA) Dh80,000 (Turf) 1,600m; Winner: Reem Baynounah, Fernando Jara (jockey), Mohamed Daggash (trainer)

5.30pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (T) 1,600m; Winner: AF Afham, Tadhg O’Shea, Ernst Oertel

6pm: Emirates Fillies Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Ghallieah, Sebastien Martino, Jean-Claude Pecout

6.30pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Yas Xmnsor, Saif Al Balushi, Khalifa Al Neyadi

7pm: The President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m; Winner: Somoud, Adrie de Vries, Jean de Roualle

7.30pm: The President’s Cup – Listed (TB) Dh380,000 (T) 1,400m; Winner: Haqeeqy, Dane O’Neill, John Hyde.

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

The Baghdad Clock

Shahad Al Rawi, Oneworld

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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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F1 2020 calendar

March 15 - Australia, Melbourne; March 22 - Bahrain, Sakhir; April 5 - Vietnam, Hanoi; April 19 - China, Shanghai; May 3 - Netherlands, Zandvoort; May 20 - Spain, Barcelona; May 24 - Monaco, Monaco; June 7 - Azerbaijan, Baku; June 14 - Canada, Montreal; June 28 - France, Le Castellet; July 5 - Austria, Spielberg; July 19 - Great Britain, Silverstone; August 2 - Hungary, Budapest; August 30 - Belgium, Spa; September 6 - Italy, Monza; September 20 - Singapore, Singapore; September 27 - Russia, Sochi; October 11 - Japan, Suzuka; October 25 - United States, Austin; November 1 - Mexico City, Mexico City; November 15 - Brazil, Sao Paulo; November 29 - Abu Dhabi, Abu Dhabi.

500 People from Gaza enter France

115 Special programme for artists

25   Evacuation of injured and sick