Racing enthusiasts attend the Dubai World Cup at the Meydan Racecourse in March.
Racing enthusiasts attend the Dubai World Cup at the Meydan Racecourse in March.
Racing enthusiasts attend the Dubai World Cup at the Meydan Racecourse in March.
Racing enthusiasts attend the Dubai World Cup at the Meydan Racecourse in March.

How Meydan changed the landscape of UAE racing


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These days it would be hard to imagine Dubai's top trainers dieting until they were light enough to ride their own horses in races, but there was a time when just that was not unheard of in the UAE. Meydan Racecourse attracted the very best of the world's jockeys for the Dubai World Cup night in March but when horse racing started in the Emirates, there were not so many professional riders around.

Les Simpson, among the first Western trainers to work in the UAE, remembers those days well. In fact there were times when he had to make the weight himself and ride his horses in races. Now 66, Simpson started training Arabians and a handful of thoroughbreds for Sharjah's Sheikh Abdullah al Qassimi in 1985, before racing adopted formal rules. "There was racing here, but it wasn't what you would call 'racing under rules'," said Simpson, who now works as traveling head man for English trainer, Jeremy Noseda, who sent five horses to Dubai for the International Racing Carnival earlier this year. "There were people training in Umm al Quwain, Dubai and Abu Dhabi but it was very different to how it is now."

Simpson was working on the starting gates on the major racecourses in the south of England when he landed the Sharjah job. "Bill Mather, who trained at Nad al Sheba for Sheikh Maktoum bin Rashid passed my details on," said Simpson. "I was very curious and I came out to see what it was all about. "When I got to Sharjah I thought the racetrack looked pretty nice. It was a decent oval, about seven furlongs and had everything we needed."

Every week a group of trainers and owners would get together and organise an informal racecard, which often took place at Sharjah. "We would put together some conditions for the races and we always managed to get together a field of eight," said Simpson. "We weighed in on bathroom scales and the races were started with a flag." At times Simpson, who had served an apprenticeship when he starting out in racing, would be required to get on the scales himself.

"That was a bit of a struggle to make the weight," he admitted. "But I didn't do too badly, I rode four or five winners. But I wasn't the best jockey and I hadn't ridden in years. "The riding was best left to the professionals. There was a very good jockey called Peter Brett, who rode my first winner, a horse called Al Sarim." Musabah al Muhairi, master of Oasis Stables who has enjoyed success last season, was also one of those who sometimes rode in races, although he did it from choice.

"He rode one for me once," said Simpson, who spent his winters in Sharjah and returned to England to continue working on the starting gates in the summer. "It was a horse he owned and I think he just felt like riding. He came second too. He's very wise when it comes to horses." Simpson's stint in the UAE came to an end with the introduction of all-weather racing in the UK which saw him based in England during the winter too. But the Simpson name continues to be involved in racing in the UAE. Simpson's son, Mark, is assistant trainer at Tony Manuel's Blue Stables.

"I have been out regularly to see the changes," said Simpson. "It's amazing, but not really surprising. Back in the day what always impressed me was the love the Arabs have for their horses and their passion in competing. "I was there for the first Dubai World Cup when Cigar won and I'll never forget it. "It was very impressive to see what had been achieved. Meydan opening and is another milestone." @Email:sports@thenational.ae

Company%20profile
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The specs: 2018 Nissan Altima


Price, base / as tested: Dh78,000 / Dh97,650

Engine: 2.5-litre in-line four-cylinder

Power: 182hp @ 6,000rpm

Torque: 244Nm @ 4,000rpm

Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

Results

5pm: Al Maha Stables – Maiden (PA) Dh80,000 (Turf) 1,600m; Winner: Reem Baynounah, Fernando Jara (jockey), Mohamed Daggash (trainer)

5.30pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (T) 1,600m; Winner: AF Afham, Tadhg O’Shea, Ernst Oertel

6pm: Emirates Fillies Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Ghallieah, Sebastien Martino, Jean-Claude Pecout

6.30pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Yas Xmnsor, Saif Al Balushi, Khalifa Al Neyadi

7pm: The President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m; Winner: Somoud, Adrie de Vries, Jean de Roualle

7.30pm: The President’s Cup – Listed (TB) Dh380,000 (T) 1,400m; Winner: Haqeeqy, Dane O’Neill, John Hyde.

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

The Baghdad Clock

Shahad Al Rawi, Oneworld

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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.”

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F1 2020 calendar

March 15 - Australia, Melbourne; March 22 - Bahrain, Sakhir; April 5 - Vietnam, Hanoi; April 19 - China, Shanghai; May 3 - Netherlands, Zandvoort; May 20 - Spain, Barcelona; May 24 - Monaco, Monaco; June 7 - Azerbaijan, Baku; June 14 - Canada, Montreal; June 28 - France, Le Castellet; July 5 - Austria, Spielberg; July 19 - Great Britain, Silverstone; August 2 - Hungary, Budapest; August 30 - Belgium, Spa; September 6 - Italy, Monza; September 20 - Singapore, Singapore; September 27 - Russia, Sochi; October 11 - Japan, Suzuka; October 25 - United States, Austin; November 1 - Mexico City, Mexico City; November 15 - Brazil, Sao Paulo; November 29 - Abu Dhabi, Abu Dhabi.

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