De Jong, right, tracks Middlesbrough's Adam Johnson during a Premier League match last season.
De Jong, right, tracks Middlesbrough's Adam Johnson during a Premier League match last season.
De Jong, right, tracks Middlesbrough's Adam Johnson during a Premier League match last season.
De Jong, right, tracks Middlesbrough's Adam Johnson during a Premier League match last season.

Idol times for De Jong


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With an absent father when he was growing up in Amsterdam, Manchester City's Dutch international midfielder Nigel de Jong had to look elsewhere for role models. One of those idols was Clarence Seedorf who has the same Surinamese background as De Jong. The veteran AC Milan midfielder, says De Jong, has shown him that football does not last forever

During his glittering career at clubs like Ajax, Real Madrid and Milan, Seedorf has won four Champions League medals, but has thriving businesses and is renowned for his charity work. "He was my inspiration, one of my biggest idols," says de Jong. "He's still hungry even now. It doesn't matter if he's 33 or 34 and has four Champions League medals. He still wants to win his fifth, his sixth and his seventh.

"I think, for me, he's the perfect role model in what he is doing on and off the pitch. He's like my big brother and he's a real professional. When I was younger he was one of the first big footballers who had charities going on in the world. "He has just met Nelson Mandela in South Africa and that's not for everybody. You see how respected he is in the charity world. "You can raise the bar with football. It's known throughout the world and if you can give something back then that's good. I can only hope to follow him. My first priority is football, but when you have spare time why not?

"I am an ambassador for the kidney foundation in Holland. My mother has a kidney disease so I know how it is. I was small when she found out, four or five. It was hard, but it's a part of life. At 24 and with an economics degree, De Jong has an old, sensible, head on young shoulders. His ferocious nature on the pitch is in contrast to calm off it. Having been encouraged to study by his mother, he did not want to fall into the trap of footballers who have fluttered their fortunes away. A classic car business with bases in Germany and Abu Dhabi, is his future.

"It's a bit of an import and export," adds De Jong, who earned the nickname 008 after he purchased a black Aston Martin DB9. "Going back to Seedorf, he has his own jewellery and his own MotoGP team. It is business and he is developing himself as a person. I am still a young lad, but football is not forever. A lot of players have a downfall when their careers come to an end, but I try to experience new things and always look ahead and the future."

De Jong is full of optimism ahead of the start of the new Premier League season on August 15 after the club's summer spree, despite the disappointment of not playing in Europe. "In my seven years of professional football this is the first year I won't play in a European competition. On the other side, it might help us in the league. Everybody is hungry to do well and will be fitter for the next game instead of playing Saturday, midweek, Saturday.

"I hope we can now be Manchester's dominant team. The city is blue already. I was amazed by that when I first came and looked around it. But now on the expectation side and the performance side, it can be blue, not only red." akhan@thenational.ae

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

Brief scores:

Liverpool 3

Mane 24', Shaqiri 73', 80'

Manchester United 1

Lingard 33'

Man of the Match: Fabinho (Liverpool)

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.”

MISSION: IMPOSSIBLE – FINAL RECKONING

Director: Christopher McQuarrie

Starring: Tom Cruise, Hayley Atwell, Simon Pegg

Rating: 4/5

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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%3Cul%3E%0A%3Cli%3EInform%20your%20doctor%20about%20your%20plans.%C2%A0%3C%2Fli%3E%0A%3Cli%3EAsk%20about%20your%20treatment%20so%20you%20know%20how%20it%20works.%C2%A0%3C%2Fli%3E%0A%3Cli%3EPay%20attention%20to%20your%20health%20if%20you%20travel%20to%20a%20hot%20destination.%C2%A0%3C%2Fli%3E%0A%3Cli%3EPlan%20your%20trip%20well.%C2%A0%3C%2Fli%3E%0A%3C%2Ful%3E%0A
The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

UAE currency: the story behind the money in your pockets
Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Marital status: Single

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers