History-maker Collin Morikawa sets sights on yet more success after superb Dubai double


John McAuley
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The exclamation mark placed emphatically on an unbelievable year on the European Tour, Collin Morikawa was then asked what he could do in 2022 for an encore.

“Win more,” said the world No 2, moments after winning everything in Dubai.

Morikawa had prevailed at the DP World Tour Championship on Sunday, capturing the circuit’s season-ending event to in turn clinch the Race to Dubai. In doing so, he became the first American in history to finish a campaign as European No1.

His season may have one more stop to run – the Hero World Challenge in the Bahamas – but Morikawa could call it quits here and put the feet up. After all, he has plenty to rest his Footjoys on.

A third victory this calendar year followed a first World Golf Championships win and a second major, the Open in July. In Dubai on Sunday, Morikawa’s masterful finish – he birdied five of the closing seven holes to eventually prosper by three shots – claimed not only the two titanic trophies on offer, but a cool $4 million, too. That $3m for the tournament was supplemented rather nicely by the $1m Race to Dubai bonus.

So, 2022? Try beating that.

“It's not an encore,” Morikawa, 24, said. “It's not a swansong farewell to what I'm doing in 2021. I'm going to set some high goals again. I always have. I'm going to set the bar as high as I can get and keep going.

“I'm still not No 1 in the world. So I still think there's a ton to work on. That's just kind of the nature of how my mind works and how I work: I just want more. I know I'm going to enjoy this one a lot, especially since it's at the end of the year. But there's a lot more from me hopefully.”

Given his play on the Earth Course, especially as the heat cranked up coming down the stretch, no one would surely argue. Beginning the day three behind leader Rory McIlroy, Morikawa had to wait until the 7th to register a first birdie.

Another on 12 raised hope of the Dubai double, despite defending tournament champion Matt Fitzpatrick threatening to spoil the party as he raced through his first 11 holes in 7-under. A win in the event, and Morikawa finishing outside the top nine, would have been enough to secure the Englishman the Order of Merit instead.

However, from 15, Morikawa was imperious. With Race to Dubai almost confirmed, a 15-footer for birdie on 17 prompted a mighty fist pump and practically settled the event also. Morikawa then birdied 18 for good measure, closing with 6-under-par 66 and increasing his total to 17-under. And, ultimately, a three-shot victory.

Fitzpatrick and Sweden’s Alexander Bjork were tied-second; McIlroy, meanwhile, bogeyed three of the final holes to finish five back, in a tie for sixth.

If the two-time winner's torn T-shirt post-round underlined his mood, Morikawa’s was understandably the polar opposite.

“It feels so good,” he said. “I would be lying to you if I said I wasn't watching what Matt Fitzpatrick was doing today. Boy, did he put on a run.

“It's an honour, really, to be the first American to do that on the European Tour, to put my name against many, many great Hall of Famers. I get touched up just talking about that.

“Two years ago, it wasn't my thought. It was, ‘Yeah, let's go play around the world’, but we didn't know what the cards were going to be dealt. To have this chance and finally close it out, and not just closing it out with a top 10 or something, but to actually win the DP World Tour Championship, which concluded with the Race to Dubai, not a better way to finish."

However, as Morikawa was at pains to point out, he plans for much, much more to come.

“Look, the way my head is wired, I'm always looking for what's next,” he smiled. “But I'm going to try to enjoy this one as much as I can. This one is special.”

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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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Results

6pm: Dubai Trophy – Conditions (TB) $100,000 (Turf) 1,200m 

Winner: Silent Speech, William Buick (jockey), Charlie Appleby
(trainer) 

6.35pm: Jumeirah Derby Trial – Conditions (TB) $60,000 (T)
1,800m 

Winner: Island Falcon, Frankie Dettori, Saeed bin Suroor 

7.10pm: UAE 2000 Guineas Trial – Conditions (TB) $60,000 (Dirt)
1,400m 

Winner: Rawy, Mickael Barzalona, Salem bin Ghadayer 

7.45pm: Al Rashidiya – Group 2 (TB) $180,000 (T) 1,800m 

Winner: Desert Fire, Hector Crouch, Saeed bin Suroor 

8.20pm: Al Fahidi Fort – Group 2 (TB) $180,000 (T) 1,400m 

Winner: Naval Crown, William Buick, Charlie Appleby 

8.55pm: Dubawi Stakes – Group 3 (TB) $150,000 (D) 1,200m 

Winner: Al Tariq, Pat Dobbs, Doug Watsons 

9.30pm: Aliyah – Rated Conditions (TB) $80,000 (D) 2,000m 

Winner: Dubai Icon, Patrick Cosgrave, Saeed bin Suroor  

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Updated: November 21, 2021, 3:02 PM