Al Zahir became only the second Purebred Arabian to win the Group 1 HH The President’s Cup in successive years as he prevailed at Abu Dhabi Equestrian Club on Sunday.
It was a case of keeping it in the family for Al Zahir as he repeated the achievement of his sire Madjani, who had been the first horse to achieve the feat in 2005 and 2006.
Al Zahir, running in the silks of Sheikh Hamdan bin Rashid, was ridden to victory by jockey Jim Crowley - as had been the case 12 months earlier.
They took up the running on the final bend of the 2,200-metre trip and stayed on strongly to win by more than two lengths from the French raider Al Shamoos under the French champion jockey Christophe Soumillon.
“It's just fantastic to have won the race for the second straight year,” said Crowley, who had kept faith on the six-year-old despite a couple of disappointing runs in his last two starts that saw him finish ninth at Meydan and 10th in Abu Dhabi last month.
“It was a bit disappointing this year, with the way he performed coming into race, and so it was decided he was to go with the blinkers on for the first time and he did well," Crowley said.
“We know Arabians improve when they have the blinkers on. He's always been a very giving horse. I knew he stays well and we went with a move half way in the race.
“We decided to go for home and he couldn't be caught. It’s a great race to win and one of the top races to be part of and to win it twice not many have done that. So it feels great.”
Al Zahir’s handler Ali Rashid Al Raihe said the Al Maktoum Challenge Round 3 at Meydan on February 28 will be an option for his charge before a second attempt at the Kahayla Classic on Dubai World Cup night on March 30.
“The horse hasn’t run to our expectations this season until tonight,” said Al Raihe.
“We had the headgear fitted and tongue tie applied, and it seemed to have worked well. He was bang to his old self.
“We’ll now see how he’s come out of this race and decide where he goes next."
Elsewhere, Bahraini trainer Fawzi Nass, who is enjoying a fine season in the UAE, won the HH The President's Cup for thoroughbreds with Legendary Lunch under Harry Bentley.
Bentley timed the run to the front on the home stretch to win from Wasim and Zainhom by a length and a neck respectively.
“It was a strong race but he's been showing up in some pretty good contests recently and he's been doing well and suited to these tactics,” said Bentley.
“He was a bit worked up before the race but I was not sure if it's a normal trait of his. He wasn't sweating or anything but was definitely excited and I think his biggest concern was the draw.
“I knew he had a great chance on paper and there were some pretty good horses in it but I was confident.”
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.”
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
RESULTS
5pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (Dirt) 1,400m
Winner: Yas Xmnsor, Sean Kirrane (jockey), Khalifa Al Neyadi (trainer)
5.30pm: Falaj Hazza – Handicap (PA) Dh70,000 (D) 1,600m
Winner: Arim W’Rsan, Dane O’Neill, Jaci Wickham
6pm: Al Basrah – Maiden (PA) Dh70,000 (D) 1,800m
Winner: Kalifano De Ghazal, Abdul Aziz Al Balushi, Helal Al Alawi
6.30pm: Oud Al Touba – Handicap (PA) Dh70,000 (D) 1,800m
Winner: Pharitz Oubai, Sean Kirrane, Ibrahim Al Hadhrami
7pm: Sieh bin Amaar – Conditions (PA) Dh80,000 (D) 1,800m
Winner: Oxord, Richard Mullen, Abdalla Al Hammadi
7.30pm: Jebel Hafeet – Conditions (PA) Dh85,000 (D) 2,000m
Winner: AF Ramz, Sean Kirrane, Khalifa Al Neyadi
8pm: Al Saad – Handicap (TB) Dh70,000 (D) 2,000m
Winner: Sea Skimmer, Gabriele Malune, Kareem Ramadan
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
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