With the US Open due to start at Bethpage in New York on Thursday week, Woods has sent out a blunt message to his rivals.
With the US Open due to start at Bethpage in New York on Thursday week, Woods has sent out a blunt message to his rivals.

Tiger shows he is still the man to beat



Tiger Woods and Roger Federer have developed a kindred spirit towards dealing with the fame, fortune and responsibility that comes with being top of your sporting profession. No sooner had the Swiss tennis genius equalled the American golfing master's record of 14 major titles on Sunday, Woods was in the process of making a stunning response in Dublin, Ohio which raised suggestions that his 15th major triumph is imminent.

The way that Woods, who missed only five fairways in the 72 holes of the Memorial Tournament, chased down the leaders on the final afternoon to snatch the trophy by a single stroke, was vintage Tiger and his stunning return to form is most timely. With the US Open due to start at Bethpage in New York on Thursday week, Woods has sent out a blunt message to aspiring champions that he is the man to beat - just as he was a year ago when defying severe knee problems to overcome his compatriot Rocco Mediate in an 18-hole play-off.

That painful success sent the world No 1 into golfing exile for eight months to have the problematic joint properly repaired and he demonstrated on Sunday for the benefit of any remaining doubters that he has made a complete recovery from that surgery. "I have been able to start practising again after rounds," Woods disclosed when providing the key to his brilliant display. "It was just about being patient. I knew it was coming round.

"I had been close to winning but the game wasn't quite there when I needed it on the final Sunday. I rectified that here. It was nice to play this well going into the US Open. This is how you have to hit it in order to win US Opens." An outrageous chip in from heavy rough around the 11th green for eagle and two birdies on the final two holes when the pressure was at its most intense helped Woods secure his 67th career title.

Runner-up Jim Furyk, a good friend of Woods, suggested this result end all the media sniping about the world No 1 being a shadow of his former self. "I just wish you would all quit writing him off," he said. "I think he has answered a lot of questions today. Michael Letzig who partnered Woods in the final round was awestruck. "It was the best golf I'd ever seen," said Letzig, who finished 14th after a three-over par 75. "I tried not to watch him, but some of those shots were unreal."

Jack Nicklaus, the memorial tournament host, was hugely impressed with Woods's display. Nicklaus, who has won a record 18 majors, is resigned to being surpassed one day. "I suspect No 15 will come for Tiger Woods in about two weeks," said Nicklaus at the trophy presentation. "If he drives the ball this way, and plays this way, I'm sure it will. And if not, it will surprise me greatly." Meanwhile Padraig Harrington, who won two of his three major titles while Woods was sidelined, is moving in the opposite direction to the great man and a failure to make the cut at the Memorial - the third time that has happened in four starts - led to the Irishman dropping out of the world's top 10.

wjohnson@thenational.ae

Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

The specs

Engine: 2.3-litre, turbo four-cylinder

Transmission: 10-speed auto

Power: 300hp

Torque: 420Nm

Price: Dh189,900

On sale: now

Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

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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.”

The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

The specs

Engine: 3.8-litre V6

Power: 295hp at 6,000rpm

Torque: 355Nm at 5,200rpm

Transmission: 8-speed auto

Fuel consumption: 10.7L/100km

Price: Dh179,999-plus

On sale: now