Hunter Mahan stopped Rory McIlroy's march to No 1 by winning the Match Play Championship yesterday.
Mahan won four holes in a five-hole stretch starting with a nine-iron to two feet on the sixth hole, building a 4-up lead through 10 holes. Even as McIlroy threw his best stuff at him on the back nine, Mahan responded with two clutch birdies to stay in control.
Mahan won, 2 and 1, to capture his second World Golf Championship title.
"He's the best player in the world right now," Mahan said. "I knew he'd made a charge, and he did."
McIlroy defeated Lee Westwood in the semi-finals yesterday morning, a high-stakes match because if either of them won the Match Play Championship, they would replace Luke Donald atop the world ranking. Mahan made sure that did not happen this week.
He played 96 holes in his six matches and had 35 birdies on his scorecards. Mahan defeated Mark Wilson in his semi-final match - Wilson was his only opponent all week who had not played in a Ryder Cup or a Presidents Cup.
McIlroy, who made seven birdies in a 10-hole stretch in the morning to beat Westwood, could not muster any magic in the afternoon. He missed a four-foot par putt that would have won the opening hole, then fell behind with a series of mistakes.
On the seventh hole, with Mahan already in trouble in a deep collection area left of the green, McIlroy pulled his short iron and joined him there. But it took McIlroy two chips to get on the green, and he lost the hole with a double bogey.
Then McIlroy's sand wedge hopped over the green on the par-5 eighth and he lost that hole with a bogey.
Mahan's big lead was enough to withstand the McIlroy charge. The 22 year old from Northern Ireland played the opening six holes on the back nine in 5-under par, but still picked up only one hole on Mahan.
"I tried to claw myself back, but I left myself too much work," McIlroy said.
He also got off to a slow start against Westwood, 3 down through four holes, before roaring past him. McIlroy didn't have the shots, and didn't appear to have the energy, to do that twice in one day.
That was always his concern. There was so much anticipation about his semifinal match with Westwood.
"I knew that might be the toughest thing for me," McIlroy said. "I knew that if I got through, I had to get myself up for the final. That's not an excuse. He was solid as ever. He's a deserving champion."
Mahan became the first American to win the Match Play Championship since Tiger Woods in 2008. He became only the sixth player to win multiple WGC titles, joining Woods, Phil Mickelson, Ernie Els, Geoff Ogilvy and Darren Clarke.
The last time Mahan was in a pressure situation against a player from Northern Ireland was in the Ryder Cup at Celtic Manor, when US Open champion Graeme McDowell made a 15-foot birdie putt on the 16th hole of the decisive match.
Even so, the memories of that match are Mahan duffing a chip on the last hole, even though McDowell was likely to win the match. Mahan has worked hard on his chipping, and he feels it carried him this week. Two shots were pivotal.
McIlroy won his first hole by chipping in for eagle from about 60 feet on the par-5 11th. Two holes later, McIlroy was safely in for birdie and Mahan had to get up-and-down from a bunker to avoid losing another hole. He blasted out to 6 feet and made the putt.
McIlroy birdied the 14th from seven feet to cut the lead to two up, and on the 315-yard 15th, he hit driver to 30 feet for an eagle attempt. Mahan was short of the green, and elected to use his putter. He rolled it up the slope to tap-in range, and McIlroy missed.
Mahan likely goes to No 9 in the world, the first time in his career he has been in the top 10. He earned US$1.4 million (Dh5.14m) for his fourth career victory, two of them WGC titles against the world's best players.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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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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Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
If you go
The flights
There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.
The trip
Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.
The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.
UAE currency: the story behind the money in your pockets
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
South Africa squad
: Faf du Plessis (captain), Hashim Amla, Temba Bavuma, Quinton de Kock (wkt), Theunis de Bruyn, AB de Villiers, Dean Elgar, Heinrich Klaasen (wkt), Keshav Maharaj, Aiden Markram, Morne Morkel, Chris Morris, Wiaan Mulder, Lungi Ngidi, Duanne Olivier, Vernon Philander and Kagiso Rabada.
Mohammed bin Zayed Majlis
UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona