Rory McIlroy reacts after making a birdie on the 17th hole during the third round. David Phillip / AP Photo
Rory McIlroy reacts after making a birdie on the 17th hole during the third round. David Phillip / AP Photo
Rory McIlroy reacts after making a birdie on the 17th hole during the third round. David Phillip / AP Photo
Rory McIlroy reacts after making a birdie on the 17th hole during the third round. David Phillip / AP Photo

McIlroy swaggers into final round with a four-shot lead at Augusta Masters


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AUGUSTA, Georgia // The birdie putt from the back of the green. The raised left arm, holding the putter high. The right fist slamming downward when the ball disappeared, followed by a cheer that rocked Augusta National.

It was the defining moment for Rory McIlroy late Saturday afternoon at the Masters. And it was loud enough to rattle Tiger Woods.

That birdie on the 17th hole - which caused Woods to back off his shot ahead of him on the 18th hole - sent the 21-year-old from Northern Ireland to a 2-under 70 and gave him a four-shot lead going into the final round.

It's the largest 54-hole lead at the Masters since Woods led by eight strokes in 1997. "It's a great position to be in," McIlroy said. "I feel comfortable with my game, comfortable with the way I prepared, and all of a sudden I'm finally feeling comfortable on this golf course. With a combination like that, you're going to feel pretty good."

He is making it look easy.

That bounce in his step turned into a swagger as he walked to the 18th tee, ripped another drive and walked up to the 18th green to a loud ovation that could be a preview to a coronation.

Following him around was US Open champion Graeme McDowell, who missed the cut but didn't want to miss out on his countryman having a chance to give Europe another major.

"He just texted me and told me he loves me," McIlroy said. "I don't know if that's him or the beer talking. No, it's great to see him out there and I appreciate his support. He's going to know how I'm feeling. Here's a major champion and he got it done last year at Pebble. Hopefully, I can emulate that feeling and get a major myself."

McIlroy was at 12-under 204 and will play in the final group Sunday with Angel Cabrera, who won the Masters two years ago and is the only major champion within six shots of McIlroy.

Cabrera has fallen to No 97 in the world, with only two top 10s in the last year. He didn't think he had much of a chance when he arrived at Augusta. But he's starting to believe. "Now that I see that I'm playing well, I sure think I can do it," Cabrera said.

The group at 8-under 208 also includes Charl Schwartzel (68), KJ Choi (71) and Jason Day, the 23-year-old Australian who took the lead on the front nine with a long birdie on No 5, but paid for his aggressive putting and had to settle for a 72.

The challenge from Woods, who started the third round only three shots behind, never materialised.

He squandered birdie chances with a fairway metal that went too long on the par-5 eighth, a 5-foot birdie putt that never had a chance on No 9, a shocking miss for par from 2 feet on No. 11 and a three-putt par on the 15th after an amazing hook around the trees that barely cleared the water.

Woods shot 74, ending his streak of 16 rounds at par or better at a major he won four times.

The final hole summed up his day, perhaps the tournament, and the state of golf as it prepares for the next generation. Woods was settling over his shot in the middle of the 18th fairway when McIlroy holed his big putt on the 17th.

For so many years, it was Woods who delivered big birdies that made everyone else take notice. This time, it was McIlroy who forced Woods to back off. He then hit his approach over the green and missed a 6-foot par putt, leaving him seven shots behind.

"I just made nothing," Woods said. "I hit the ball well all day. That wasn't the problem. Take away the two three-putts there, a couple of unforced errors and it should have been a pretty good round."

McIlroy didn't have to make any such excuses.

He has made only three bogeys over three rounds, and no three-putts, always a key at the Masters. He and Day were tied for the lead at 9 under as they made their way through Amen Corner, and McIlroy seized control on the 13th.

A bold tee shot down the left side, where Rae's Creek winds its way along the azaleas, gave McIlroy a clear shot on the green and he two-putted for a birdie. Day attacked the flag in the back left corner and went long, into the second cut. His delicate chip rolled back toward him, he putted up the slope about 6 feet below the hole and missed the putt to make bogey.

Day fell further behind as McIlroy played well beyond his 21 years.

The Australian was saved on the par-5 15th when his shot came up short, but stayed dry because the grass is not shaved as low as it normally is. He was able to get up-and-down for birdie to match another two-putt birdie by McIlroy.

On the 16th, both were on the bottom shelf. Day gunned his putt about 6 feet past the hole and missed it coming back. McIlroy rolled his with better pace to pick up an easy par, and another stroke.

Then came the 17th, where McIlroy hooked his approach around the pines to the back of the green, then holed the slick putt that unleashed his emotions and set off the loudest roar of the day.

"It was a bonus," he said. "After I hit the tee shot, I would have just loved to walk away from that green with a 4 and moved on to the 18th tee. It was tracking the whole way and just dropped in the middle. It was great, because I had been waiting on a putt to drop all day, and for it to drop there, it was great timing."

It was the third straight day for McIlroy and Day to play in the same group. Saturday was different, though, and as both tried to get into position for a green jacket, there was a lot less chatter.

"I still went out there and had fun," Day said. "Obviously, I made a few disappointing choices. But I'm going to go out there tomorrow and I've got a game plan that I want to stick to. And if I can do that and hole some putts, hopefully I can try and chase them down."

Missing from the pack are the Americans. Bo Van Pelt was the low American after a 68 put him in eighth place, six shots behind. Woods was in the group seven shots behind along with 51-year-old Fred Couples and Bubba Watson.

If an international player wins, it will be the first time ever that Americans did not own any of the four majors or the Ryder Cup.

Third round scores:

Rory McIlroy 65-69-70 — 204
Angel Cabrera 71-70-67 — 208
Charl Schwartzel 69-71-68 — 208
KJ Choi 67-70-71 — 208
Jason Day 72-64-72 — 208
Adam Scott 72-70-67 — 209
Luke Donald 72-68-69 — 209
Bo Van Pelt 73-69-68 — 210
Bubba Watson 73-71-67 — 211
Ross Fisher 69-71-71 — 211
Fred Couples 71-68-72 — 211
Geoff Ogilvy 69-69-73 — 211
Tiger Woods 71-66-74 — 211
Matt Kuchar 68-75-69 — 212
Martin Laird 74-69-69 — 212
Ryan Palmer 71-72-69 — 212
a-Hideki Matsuyama 72-73-68 — 213
Edoardo Molinari 74-70-69 — 213
Phil Mickelson 70-72-71 — 213
Steve Stricker 72-70-71 — 213
Brandt Snedeker 69-71-73 — 213
Lee Westwood 72-67-74 — 213
Alvaro Quiros 65-73-75 — 213
Miguel Angel Jimenez 71-73-70 — 214
Ian Poulter 74-69-71 — 214
David Toms 72-69-73 — 214
Jim Furyk 72-68-74 — 214
Ricky Barnes 68-71-75 — 214
Yong-Eun Yang 67-72-73 — 212
Justin Rose 73-71-71 — 215
Ryan Moore 70-73-72 — 215
Charley Hoffman 74-69-72 — 215
Ryo Ishikawa 71-71-73 — 215
Dustin Johnson 74-68-73 — 215
Trevor Immelman 69-73-73 — 215
Sergio Garcia 69-71-75 — 215
Rickie Fowler 70-69-76 — 215
Robert Karlsson 72-70-74 — 216
Gary Woodland 69-73-74 — 216
Steve Marino 74-71-72 — 217
Jeff Overton 73-72-72 — 217
Camilo Villegas 70-75-73 — 218
Bill Haas 74-70-74 — 218
Alexander Cejka 72-71-75 — 218
Paul Casey 70-72-76 — 218
Aaron Baddeley 75-70-74 — 219
Nick Watney 72-72-75 — 219
Ernie Els 75-70-76 — 221
Kyung-Tae Kim 70-75-78 — 223

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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Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

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