Ascot, England// They came from five countries to try to prise the Diamond Jubilee Stakes away from Ascot racecourse Saturday but it was Lethal Force who led the home defence to take the final Group 1 contest of the week.
Lethal Force hit the gate and was never headed and although jockey Adam Kirby waited until two furlongs from home to galvanise his mount the response was instant.
Kieren Fallon endured a tortuous journey on a fast-finishing Society Rock but the pair could never get closer than the two lengths that separated them from the winner at the line.
Krypton Factor ran a huge race on his first start since finishing third in the Dubai Golden Shaheen in March and improved on his sixth to Black Caviar last season by being next home.
Gordon Lord Byron, who was seventh in Dubai, was fourth and best of the five Irish challengers. Kirbys' Royal Ascot CV extended to a sole victory on Reckless Abandon in the Norfolk Stakes last year but it was his first Group 1 success, and victory rarely tastes as sweet as this.
Lethal Force showed his hand when winning a Group 2 contest at Newbury last season and although he had pushed Society Rock to within a head at York last month there were those who felt there was a whiff of good fortune to those performances.
"He's unbelievable the way he does things," Kirby said. "Everyone said it was a fluke when he won the Hungerford over seven furlongs last season but it wasn't. He was only three and just a frame then but he's a much more solid horse now."
The first three finishers could all meet again in the Group 1 July Cup at Newmarket next month, where Mike de Kock's Shea Shea lies in wait, although trainer Clive Cox was not so sure the undulations of the July Course would suit his new star, Lethal Force.
Both James Fanshawe, trainer of Society Rock, and Fawzi Nass, trainer of Krypton Factor, were game for the re-match, however.
"He is in better form this year," Nass said of his 2012 Dubai Golden Shaheen winner. "Last year we went to Singapore after Dubai and there was a lot of travelling for him. This year was a different case - he came here direct from Dubai and did not have such a hard campaign while he was there. He will come on plenty from this run."
As soon as the gates opened, Kirby found himself at the front of the pack on the stands' side of the course. Luke Morris tracked him on Krypton Factor, while on the other side of the course Fallon realised quickly that he had the wrong running companions to give Society Rock the tow he needed.
He set about manoeuvring Society Rock to the stands' side of the track and even a furlong and a half from home his mount was still in last place.
Society Rock's turn of foot earned him a victory in the Diamond Jubilee Stakes two seasons ago, and Fallon used his mount's acceleration to motor through the field and past Krypton Factor.
By then, however, Lethal Force and Kirby were gone.
Sea Siren finished eighth for Australia under Ryan Moore, while Havelock was 11th for America under Frankie Dettori, one place behind French raider Gammarth.
In France today, Cirrus Des Aigles makes his eagerly-awaited return to the racecourse in the Group 1 Grand Prix De Saint-Cloud.
The 2012 Dubai Sheema Classic champion was last seen chasing home Frankel in the Champion Stakes at Ascot on his last run in October.
He has endured a catalogue of injury problems but takes on 10 rivals including Dunaden, the 2011 Melbourne Cup victor, en route to a possible tilt at the King George VI and Queen Elizabeth Stakes back at Ascot next month.
Dunaden was second to St Nicholas Abbey in the Coronation Stakes at Epsom three weeks ago, having found Aidan O'Brien's charge too strong in the Dubai Sheema Classic in March.
The runner-up that day was Gentildonna, the Japanese Triple Crown filly, who faces 10 others in the Group 1 Takarazuka Kinen at Hanshin this morning.
Elsewhere, Kinsale King, the 2010 Dubai Golden Shaheen winner, put up a storming performance to finish a narrow second to Boat Trip at Hollywood Park over five furlongs on turf late on Friday night.
Kinsale King had not run since September 2011 due to severe injuries to his feet. Trainer Carl O'Callaghan suggested afterwards that the 2014 Golden Shaheen was the long-term target for the eight-year-old gelding.
'Awful' emotion for Lady Cecil
Rarely can one woman have gone through such a gamut of emotions as Lady Cecil in the space of two weeks.
Saturday, Thomas Chippendale became her second Royal Ascot winner.
A stride after crossing the line in the Hardwicke Stakes, the four-year-old colt suffered a suspected heart attack.
Johnny Murtagh dismounted immediately in front of the 72,694 spectators but there was nothing the Irishman, nor the veterinarians, could do.
“It’s so awful to go from one emotion to another, from a high to a low,” she said, just 14 days after Sir Henry Cecil, her husband, died of cancer.
“It puts such a dampener on the day. My heart is pounding, but we have to carry on.”
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Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
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The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
First-round leaderbaord
-5 C Conners (Can)
-3 B Koepka (US), K Bradley (US), V Hovland (Nor), A Wise (US), S Horsfield (Eng), C Davis (Aus);
-2 C Morikawa (US), M Laird (Sco), C Tringale (US)
Selected others: -1 P Casey (Eng), R Fowler (US), T Hatton (Eng)
Level B DeChambeau (US), J Rose (Eng)
1 L Westwood (Eng), J Spieth (US)
3 R McIlroy (NI)
4 D Johnson (US)
COMPANY%20PROFILE
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
The specs
Engine: 1.4-litre 4-cylinder turbo
Power: 180hp at 5,500rpm
Torque: 250Nm at 3,00rpm
Transmission: 5-speed sequential auto
Price: From Dh139,995
On sale: now
WITHIN%20SAND
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Company%20profile
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UAE currency: the story behind the money in your pockets
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COMPANY%20PROFILE
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PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
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.”
MATCH INFO
Manchester United 1 (Greenwood 77')
Everton 1 (Lindelof 36' og)
Destroyer
Director: Karyn Kusama
Cast: Nicole Kidman, Toby Kebbell, Sebastian Stan
Rating: 3/5
UAE release: January 31
UAE currency: the story behind the money in your pockets
Results
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The Way It Was: My Life with Frank Sinatra by Eliot Weisman and Jennifer Valoppi
Hachette Books