Free general admission tickets released for DP World Tour Championship

Free general admission tickets for the DP World Tour Championship were released on Tuesday, giving golf fans the opportunity to guarantee their places at the season-ending tournament.

Taking place November 17-20 at Jumeirah Golf Estates’ Earth course, the 14th edition of the championship will once again welcome the top 50 players on the DP World Tour Rankings. Among golf's leading players expected to compete include former champions and major winners Matthew Fitzpatrick, Rory McIlroy, Collin Morikawa, and Jon Rahm.

This year’s tournament will also boast a record $10 million prize fund, making the season finale the first DP World Tour event in history outside the majors and WGCs to feature an eight-figure prize fund. It is also one of five elevated Rolex Series events.

In addition to crowning a tournament champion, the DP World Tour Championship decides the Race to Dubai winner, awarded to the player who tops the season-long DP World Tour rankings.

American Morikawa is the defending DPWTC champion and reigning Race to Dubai winner but is only 16th in this season's race, which is led by three-time winner McIlroy.

Following the success of last year's Ladies Day, which featured free drinks, ladies golf clinics and a best dressed competition, it will make a return later this year, while the tournament will also host a dedicated family day for the first time.

As well as free general admission tickets, the DP World Tour Championship also offers premium experiences. Both the Championship Chalet and Earth Lounge will provide unique vantage points of the action, and food and drink packages throughout the day.

Fans can currently take advantage of the early bird discounts, with prices starting at Dh499 for the Earth Lounge and Dh2000 for the Championship Chalet.

“We’re absolutely thrilled to be releasing our free general admission and Premium Experience tickets to our fantastic fans,” said Tom Phillips, Head of DP World Tour Middle East.

“Since the first DP World Tour Championship in 2009, spectators have been a key part in making the tournament one of the best events on the schedule, thanks to their love for the game and enthusiasm out on course.

“The team at DP World Tour Middle East are working tirelessly behind the scenes to make the tournament bigger and better than ever and we can’t wait for fans to see what we have in store later this year at Jumeirah Golf Estates.”

To register for free tickets or purchase a Premium Experience at the Championship Chalet or Earth Lounge, visit dpwtc.com.

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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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