Rory McIlroy of Northern Ireland reacts after missing a putt on the 2nd during the third round on day three of the 145th Open Championship at Royal Troon on July 16, 2016 in Troon, Scotland. Matthew Lewis / Getty Images
Rory McIlroy of Northern Ireland reacts after missing a putt on the 2nd during the third round on day three of the 145th Open Championship at Royal Troon on July 16, 2016 in Troon, Scotland. Matthew Lewis / Getty Images
Rory McIlroy of Northern Ireland reacts after missing a putt on the 2nd during the third round on day three of the 145th Open Championship at Royal Troon on July 16, 2016 in Troon, Scotland. Matthew Lewis / Getty Images
Rory McIlroy of Northern Ireland reacts after missing a putt on the 2nd during the third round on day three of the 145th Open Championship at Royal Troon on July 16, 2016 in Troon, Scotland. Matthew L

Golf

British Open: Rory McIlroy destroys club in anger on difficult day at Royal Troon

After slicing his approach shot way right at the 546-yard par-five, Rory McIlroy threw the offending 3-wood in anger, sending the club head flying. The Northern Irishman finished the third round two-over-par 73.

Agence France Presse

July 16, 2016

  • English
  • Arabic

TROON, UNITED KINGDOM // The moment that summed up a frustrating afternoon for Rory McIlroy at the British Open on Saturday came at the 16th hole at Royal Troon.

After slicing his approach shot way right at the 546-yard par-five, McIlroy threw the offending 3-wood in anger, sending the club head flying.

“I’ll get it reshafted tonight and all will be well in the morning,” said the Northern Irishman at the end of his two-over-par 73.

“The club head came loose on it earlier on the week. I had to get the head reglued. So it was probably partly to do with that and partly the throw as well.”

McIlroy’s frustration came from his inability to build on a starting position of two-under at the halfway stage.

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He took to the tee on Saturday afternoon eight shots adrift of leader Phil Mickelson but had spoken of his optimism after a second-round 71 in abysmal weather conditions on Friday.

And yet he began with a bogey at the par-four first and also dropped shots at the third and the fifth.

There were birdies at the long fourth and six holes but his putting let him down on several occasions and he came home in one-over after a bogey at the 15th.

“I think I’ve been saying all week that you need to get off to a good start on this golf course, and you need to be under par early, and I wasn’t able to do that,” the 2014 champion said.

“Just to be over par on the front was tough because you can’t really expect to pick up too many shots on the back nine because of how tough it is playing.

“I actually felt like I played OK on the back nine and held it together quite well. I obviously had the bogey on 15, and actually had a decent chance on 16 to make birdie.

“But, yeah, it was one of those days that was a tough day. I just wish I had got off to a better start. Maybe it would have given me a little bit more of a cushion going into the back nine.”

With Mickelson in such outstanding form, McIlroy would have to break records to win the Open from his position – the biggest final-round comeback to win the Claret Jug remains Paul Lawrie’s improbable victory from 10 shots back in 1999.

“Go out and try to shoot a good score and try to finish as high as I possibly can,” is therefore McIlroy’s aim for Sunday.

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MATCH INFO

Fixture: Thailand v UAE, Tuesday, 4pm (UAE)

TV: Abu Dhabi Sports

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Engine: four-litre V6 and 3.5-litre V6 twin-turbo

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Double rooms at Tijara Fort-Palace cost from 6,670 rupees (Dh377), including breakfast.
Doubles at Fort Bishangarh cost from 29,030 rupees (Dh1,641), including breakfast. Doubles at Narendra Bhawan cost from 15,360 rupees (Dh869). Doubles at Chanoud Garh cost from 19,840 rupees (Dh1,122), full board. Doubles at Fort Begu cost from 10,000 rupees (Dh565), including breakfast.
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Amar Grover travelled with Wild Frontiers. A tailor-made, nine-day itinerary via New Delhi, with one night in Tijara and two nights in each of the remaining properties, including car/driver, costs from £1,445 (Dh6,968) per person.

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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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