MEMPHIS, TENNESSEE // Golden State’s Draymond Green scored on a tip-in in with a minute left to secure a 100-99 win against Memphis on Saturday, giving the Warriors a share of one of the records set by the 1995-96 Chicago Bulls.
Golden State now has 33 road wins in a season, tying those Bulls. The Warriors (71-9) visit San Antonio on Sunday with a chance to take the record outright.
They also moved within one win of equalling the Bulls’ NBA single-season record of 72 victories, but it will be a hard task for the Warriors, who have lost 33 straight in San Antonio.
The current Chicago team kept its playoff hopes alive with a narrow win against Cleveland, while Atlanta beat Boston to move a game ahead of the Celtics in the fight for third place in the Eastern Conference.
Golden State’s Green finished with 23 points and grabbed 11 rebounds while Klay Thompson had 20 points for the Warriors, who trailed by 10 points early in the fourth quarter.
Memphis’ Lance Stephenson missed two shots in the final seconds on a drive and again on a flip toward the basket. Officials reviewed the play and gave the ball to the Warriors with 0.8 seconds to seal it. Matt Barnes scored 24 points and grabbed 15 rebounds for Memphis.
Elsewhere
• Chicago’s Jimmy Butler scored 21 points as the Bulls edged Cleveland 105-102.
Rookie Cristiano Felicio added a career-high 16 for Chicago, which took the lead with a 15-0 run early in the fourth quarter and only clinched the win when Cleveland’s J.R. Smith missed a 3-point attempt on the buzzer.
Chicago took the lead with a 15-0 run early in the fourth quarter and hung for the win when JR Smith missed a 3-pointer at the buzzer, preventing Cleveland from clinching the No. 1 seed in the Eastern Conference even though James scored 33.
The Bulls still need to win their final two games and hope Indiana drops its remaining three to avoid missing the playoffs for the first time since 2008.
LeBron James had a huge game for Cleveland, hitting 13 of 17 shots – 4 of 5 3-pointers – for 33 points. It was not quite enough for the Cavaliers who missed a chance to clinch the top seed in the East.
• Atlanta’s Paul Millsap had a season-high 31 points and 16 rebounds to lead the Hawks past Boston 118-107.
Jeff Teague added 24 points for the Hawks, who moved 1-1/2 games ahead of Southeast Division rivals Miami and Charlotte while Boston has just a half-game lead over those teams.
Marcus Smart finished with 19 points for the Celtics, whose four-game winning streak ended.
• Sacramento’s Rudy Gay sank two free throws with 1 second left to give the Kings a 114-112 win over Oklahoma City in the final game at Sleep Train Arena.
• Minnesota’s Karl-Anthony Towns hit a turnaround hook shot with 1.8 seconds left to give the Timberwolves a 106-105 win at fast-finishing Portland.
• Phoenix beat New Orleans 121-100 to inflict the heaviest home defeat of the season on the Pelicans, led by 24 points from Archie Goodwin.
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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.”
How to protect yourself when air quality drops
Install an air filter in your home.
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Shower or bath after being outside.
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Stay indoors when conditions are particularly poor.
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