Cameron Smith poses with the trophy after winning the LIV Golf Invitational - Chicago at Rich Harvest Farms. Getty
Cameron Smith poses with the trophy after winning the LIV Golf Invitational - Chicago at Rich Harvest Farms. Getty
Cameron Smith poses with the trophy after winning the LIV Golf Invitational - Chicago at Rich Harvest Farms. Getty
Cameron Smith poses with the trophy after winning the LIV Golf Invitational - Chicago at Rich Harvest Farms. Getty

Open champion Cameron Smith wins LIV Golf Chicago title on second start


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Reigning Open champion Cameron Smith won his first LIV Golf title on Sunday, holding off Dustin Johnson and Peter Uihlein down the stretch to win the Chicago Invitational.

The 29-year-old Australian fired a three-under par 69 to finish on 13-under 203 in the 54-hole shotgun start event at Rich Harvest Farms.

World No 3 Smith finished with back-to-back birdies, the last from 20 feet, to defeat two-time major winner Johnson and Uihlein by three strokes.

Nine weeks after capturing the Claret Jug at St Andrews, Smith said he needed a victory to send a message to critics of his decision to jump from the PGA Tour to the Saudi-backed upstart series.

"I think I had to prove to myself and some other people that I'm a great player, that I'm out here to win golf tournaments," Smith said.

LIV Golf's record prize money has helped lure several big-name PGA Tour defections, prompting the PGA to issue indefinite bans on former members and spark an antitrust lawsuit in the United States set for trial in 2024.

Smith's departure was a big blow for the PGA Tour, where he had won the Tournament of Champions in January, The Players Championship in March, and his first major title in July at St. Andrews.

Smith added a $4 million LIV Golf top prize from a $25m purse to a 2022 riches haul that includes $1.47m for the Tournament of Champions win, $3.6m at the Players and $2.5m at the Open.

Smith took a three-stroke lead after Johnson opened with a bogey at the first, but he missed a six-foot par putt to bogey the fourth and a poor blast out of a bunker at the sixth led to another bogey.

Dustin Johnson, centre, led the 4 Aces GC to another team victory at LIV Golf Invitational-Chicago. AP
Dustin Johnson, centre, led the 4 Aces GC to another team victory at LIV Golf Invitational-Chicago. AP

Both birdied the par-5 seventh but Smith rolled in a five-foot birdie putt at the eighth, and after Johnson made back-to-back bogeys at eight and nine, it was Uihlein who trailed Smith by three at the turn.

"I didn't have my best stuff the first eight or nine holes but I struck it nice down the back nine," Smith said.

Smith chipped within inches of the hole and tapped in for birdie at the par-5 11th. He took a bogey at the par-3 16th, lipping out on a short par putt, but denied his US rivals with his closing birdies.

Peter Uihlein tied for second with Dustin Johnson at LIV Golf Invitational-Chicago. AP
Peter Uihlein tied for second with Dustin Johnson at LIV Golf Invitational-Chicago. AP

"A little disappointed in the way I played," said Johnson, who shot 70. "I hit a lot of good putts. Just nothing would go in the hole."

Spain's Sergio Garcia finished tied for fourth with Chilean Joaquin Niemann with a 5-under 67, and South Africans Louis Oosthuizen and Charles Schwartzel, who are teammates on Stinger GC, both finished six strokes behind Smith.

Johnson's 4 Aces won the team event for the fourth consecutive time.

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

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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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How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Abu Dhabi GP schedule

Friday: First practice - 1pm; Second practice - 5pm

Saturday: Final practice - 2pm; Qualifying - 5pm

Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Updated: September 19, 2022, 6:02 AM