Rory McIlroy was disappointed to win just the one tournament in 2009 - the Dubai Desert Classic.
Rory McIlroy was disappointed to win just the one tournament in 2009 - the Dubai Desert Classic.

Sky's the limit for brilliant McIlroy



Like any born winner, Rory McIlroy confessed yesterday to being disappointed that he did not win more last year in what his ever-growing army of admirers generally considered to be a stellar second full season in the professional ranks. Sometimes you have to remind yourself when watching McIlroy in action on and off the golf course that this brilliant young Irishman is still only 20 and can look forward confidently to what looks sure to be a magnificent career.

He has achieved so much in such a short time but there was no mistaking the message as he prepared to mount what should be a strong challenge for this week's Abu Dhabi Golf Championship that those achievements fell well short of satisfying his far-reaching ambitions. "I have won only the one tournament so far," McIlroy declared, referring to his triumph in last year's Dubai Desert Classic. "One of my big goals this year is to add some more titles to my record.

"I felt I put myself in a lot of good positions over the last year so it has to be slightly disappointing that I managed to convert only one of them. "So I would love to start this season with a victory, either here or by defending my title in Dubai. That early win last year took the pressure off a little bit and it allows you to play with more freedom for a while." It seemed during the remainder of last season a question of when rather than if McIlroy would add a second honour to his record but he was frustrated in that quest.

The youngster would have been a much more contented figure if he had fulfilled expectations in November by capturing the inaugural Race to Dubai - the coveted prize that recognises Europe's best golfer of the year in terms of euros accumulated. "I had a good chance of taking that award but a certain golfer played much better than the rest of us that week," reflected McIlroy, who led the order of merit going into the concluding Dubai World Championship in which his main rival Lee Westwood produced a 23-under-par masterclass.

"Fifteen under par wasn't bad," he said of his own third-placed performance around the new Earth Course. "But Lee was just too good." The speed of McIlroy's ascent of the world rankings list would satiate even the hungriest of competitors. Barely a year after turning professional, he found himself holding on to a place in the elite top-40 which earned him an invitation to the US Masters last April.

That unexpectedly high ranking led to himself setting a top-20 target this time last year but his Majlis triumph in the Desert Classic had him swiftly re-adjusting his sights on a top-10 finish to the year which came about with his podium placing in the Dubai World Championship. Now the aim is to be among the world's top five - an objective which few would suggest is out of reach as he prepares to play a reasonable percentage of his golf on the US PGA Tour.

That decision does not rule him out as a serious contender for the second Race to Dubai, he maintained. "I might be playing less in Europe than last year but if I can turn some of my top-five finishes into top-threes and maybe win a couple more then there is no reason why I can't be challenging again at the top of the European money list." McIlroy, who finished fifth here last year behind England's Paul Casey, begins his challenge in top-class company alongside Sweden's Henrik Stenson and the Spaniard Sergio Garcia. That threeball is guaranteed to attract one of the biggest galleries of the opening day when they arrive on the first tee at 12.05 tomorrow.

McIlroy thoroughly enjoyed his extended Christmas break at his Holywood home just outside Belfast even though the extremely seasonal weather left him with hardly an opportunity to pursue any outdoor activities other than "make snowmen and have snowball fights". He was not complaining about the enforced five weeks of inactivity, though. "It was nice to get a complete break and not hit a ball for such a long time. I needed that after such an exhausting campaign. "It has rekindled my desire. It makes you realise how lucky you are to be playing this wonderful game for a living and it's great to be back out here in the sunshine on a course that I enjoy enormously."

McIlroy went as far as describing the National course as his favourite of all he has played in the Gulf region so he admitted to a feeling of regret on hearing the news that the tournament may move to Gary Player's Beach Course at Saadiyat Island next year. "Yes it would be sad to see the tournament leave here because this course is set up perfectly, especially for the type of game I play," he said.

"But I can understand Abu Dhabi as an emirate wanting to move their big tournaments to the newest places and places where they can advertise their region as well as they can." @Email:wjohnson@thenational.ae

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

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.”

The specs

Engine: 2.0-litre 4-cylturbo

Transmission: seven-speed DSG automatic

Power: 242bhp

Torque: 370Nm

Price: Dh136,814

Top investing tips for UAE residents in 2021

Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.

Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.

Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.

Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.

Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.

Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.

Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”

Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI. 

Omar Yabroudi's factfile

Born: October 20, 1989, Sharjah

Education: Bachelor of Science and Football, Liverpool John Moores University

2010: Accrington Stanley FC, internship

2010-2012: Crystal Palace, performance analyst with U-18 academy

2012-2015: Barnet FC, first-team performance analyst/head of recruitment

2015-2017: Nottingham Forest, head of recruitment

2018-present: Crystal Palace, player recruitment manager

 

 

 

 

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If you go

The flights
Emirates (www.emirates.com) and Etihad (www.etihad.com) both fly direct to Bengaluru, with return fares from Dh 1240. From Bengaluru airport, Coorg is a five-hour drive by car.

The hotels
The Tamara (www.thetamara.com) is located inside a working coffee plantation and offers individual villas with sprawling views of the hills (tariff from Dh1,300, including taxes and breakfast).

When to go
Coorg is an all-year destination, with the peak season for travel extending from the cooler months between October and March.

What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
  • Grade 4 = grade C
  • Grade 3 = between grades D and E
  • Grade 2 = between grades E and F
  • Grade 1 = between grades F and G