Rickie Fowler acknowledges fans after his birdie at 18 on Sunday to complete the third round in the lead at the Abu Dhabi HSBC Golf Championship. Paul Childs / Action Images / Reuters / January 24, 2016
Rickie Fowler acknowledges fans after his birdie at 18 on Sunday to complete the third round in the lead at the Abu Dhabi HSBC Golf Championship. Paul Childs / Action Images / Reuters / January 24, 2016
Rickie Fowler acknowledges fans after his birdie at 18 on Sunday to complete the third round in the lead at the Abu Dhabi HSBC Golf Championship. Paul Childs / Action Images / Reuters / January 24, 2016
Rickie Fowler acknowledges fans after his birdie at 18 on Sunday to complete the third round in the lead at the Abu Dhabi HSBC Golf Championship. Paul Childs / Action Images / Reuters / January 24, 20

Rickie Fowler: ‘I’m going to have to earn this win’ ahead of Abu Dhabi final round


Paul Radley
  • English
  • Arabic

ABU DHABI // Rickie Fowler acknowledged he has his work cut out to win the 2016 Abu Dhabi HSBC Golf Championship, despite starting Round 4 with a two-stroke lead on the field.

The Californian is 13-under par after his early morning finish to his third round, having made the most of the cool conditions to post 65.

The world No 6 will go off in the final group at 12.30pm on the National Course, alongside Joost Luiten, his closest challenger at 11-under, with Thomas Pieters, on 10-under, completing the three-ball.

“I definitely feel a lot more comfortable this year on the golf course than last year,” said Fowler, who made his debut in the capital 12 months ago.

“I’m confident with where the game is at, now we need to stick to the game plan and play the course how we’ve been playing it.

“I’m going to have to earn this win, because there’s a lot of guys at the top of the leaderboard right now and won’t be easy.”

Of the five players at 10-under, the name of world No 3 Rory McIlroy figures most prominently.

The Northern Irishman, who suffered a mixed morning as he completed a 2-under par 70 in Round 3, will play in the third to last group, alongside Ian Poulter and Peter Hanson. Those two start the final round on 9-under, as does Henrik Stenson.

“Coming into this week, it has felt good,” Poulter said. “Turned 40, a new era, and hopefully I can play well this afternoon and really run up that board.”

The Englishman said he still believes he could catch Fowler, despite having four shots to make up over the final 18 holes.

“He’s probably going to shoot four or five [under] this afternoon, so he’s going to get to 17,” Poulter said.

“So I need to shoot a low round of golf. I need to take advantage of the par fives and not make any silly mistakes.”

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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.”

if you go

Getting there

Etihad (Etihad.com), Emirates (emirates.com) and Air France (www.airfrance.com) fly to Paris’ Charles de Gaulle Airport, from Abu Dhabi and Dubai respectively. Return flights cost from around Dh3,785. It takes about 40 minutes to get from Paris to Compiègne by train, with return tickets costing €19. The Glade of the Armistice is 6.6km east of the railway station.

Staying there

On a handsome, tree-lined street near the Chateau’s park, La Parenthèse du Rond Royal (laparenthesedurondroyal.com) offers spacious b&b accommodation with thoughtful design touches. Lots of natural woods, old fashioned travelling trunks as decoration and multi-nozzle showers are part of the look, while there are free bikes for those who want to cycle to the glade. Prices start at €120 a night.

More information: musee-armistice-14-18.fr ; compiegne-tourisme.fr; uk.france.fr