Scotland's Jordan Rhodes celebrates his goal against Australia at Easter Road
Scotland's Jordan Rhodes celebrates his goal against Australia at Easter Road

International friendies round-up: Scotland defeat Australia, USA finally beat Mexico



Scotland came from a goal behind to beat Australia 3-1 in their friendly match at Easter Road to give themselves a boost ahead of the 2014 World Cup qualifiers which begin next month.

Former Al Nasr player Mark Bresciano opened the scoring in the 17th minute with a thunderous volley from distance, before Jordan Rhodes scored his first Scotland goal in his first start in the 28th minute with a diving header from a Danny Fox cross.

Australia substitute Jason Davidson put through his own goal with a header from a Fox cross in the 63rd minute, five minutes after replacing David Carney to make his debut, before Scotland substitute Ross McCormack, who had replaced Rhodes, stretched the home side's lead in the 76th minute with a drive from the edge of the box.

Martin Paterson's 84th-minute penalty earned Northern Ireland an entertaining 3-3 draw in a see-saw friendly encounter against Finland at Windsor Park.

Northern Ireland were 2-0 ahead early on, with Shane Ferguson driving home a deflected pass from Rangers' Dean Shiels, followed by a Kyle Lafferty shot being bundled over the line, but two goals in as many minutes from Tim Sparv and Teemu Pukki, followed by an unstoppable second-half free kick from Perparim Hetemaj, left them needing Paterson's late intervention.

New coach Didier Deschamps said he would not allow dissent from France's fans to intrude upon his memories of his first match in charge of the national team, after their 0-0 draw with Uruguay on Wednesday.

It was the fourth consecutive match between the countries to finish goalless, although France twice struck the frame of the goal in their first match since  their quarter-final exit at Euro 2012.

Uruguay's conservatism allowed France to dominate possession, but aside from a 14th-minute header from Mapou Yanga-Mbiwa that visiting goalkeeper Fernando Muslera touched onto the post, France were initially kept at arm's length.

However, with Luis Suarez and Edinson Cavani rested after the Olympics, Uruguay also lacked bite in attack, and the small pocket of away fans had to wait until the 43rd minute to see Diego Forlan drive a shot wide from 20 yards.

Half-time substitute Etienne Capoue quickly created France's clearest opening, his sidefooted centre from the right met by a back-post volley from Mathieu Valbuena that forced Muslera into a sprawling save.

France almost took the lead on the hour, but Karim Benzema's sweet volley from Patrice Evra's lofted pass cannoned back off the right-hand post and bounced out of play for a throw-in.

Substitute Bafetimbi Gomis came closest for France in the game's final quarter, first testing Muslera with a low drive and then fluffing his lines from close range in injury time.

Second-half replacement Alexandre Pato helped Brazil to a convincing 3-0 victory over Sweden with a quick-fire brace in the final ten minutes.

Brazil coach Mano Menezes picked a team based around the one that lost 2-1 to Mexico in the football final at the recently-finished London Olympics, bolstered by the inclusion of Dani Alves, David Luiz, Paulinho and Ramires.

Leandro Damiao, golden boot at the Olympics, duly opened the scoring for the visiting South American giants in the 32nd minute, directing a powerful header past Sweden captain and goalkeeper Andreas Isaksson.

Damiao was replaced by AC Milan's Pato in the 76th minute and made an immediate nuisance of himself among a flagging home defence.

A lucky ricochet off his head from a tentative Hulk shot fell to Dani Alves out on the right, and the Barcelona defender played it square for Pato to head home with the keeper nowhere to be seen.

Just a minute later, Pontus Werbloom was yellow carded for hacking Pato down in the penalty area.

Pato himself stepped up and drove home the penalty to see out a thoroughly deserved win.

Michael Orozco Fiscal scored in the 80th minute and goalkeeper Tim Howard played brilliantly as the USA upset Mexico 1-0 in a friendly, giving the Americans their first-ever win on Mexican soil.

Brek Shea went down the left flank and around Severo Meza to start the play that led to the goal. Shea, back with the national team after being dropped for six months, crossed to Terrence Boyd. He made a quick back-heel pass to Orozco Fiscal.

Fiscal kicked the ball past goalkeeper Guillermo Ochoa for his first international goal. Orozco Fiscal plays for San Luis in Mexico.

The USA had been 0-23-1 against El Tri in 75 years of games at Mexico, including 0-19-1 in Mexico City. Mexico has outscored the US 81-14 overall in Mexico City.

USA coach Jurgen Klinsmann hailed the "huge" upset.

"It is huge for all American fans and it is historic," he said.

Germany had goalkeeper Ron-Robert Zieler sent off after half an hour as they crashed to a 3-1 friendly defeat to Argentina in Frankfurt.

Zieler was dismissed for a foul on Jose Sosa and, although replacement Marc ter Stegen saved Lionel Messi's resulting penalty, the visitors did not take long to seize the lead.

Sami Khedira put through an own goal in first-half injury time to set Argentina on their way and further second-half goals from Messi and Angel di Maria sealed the win before Benedikt Howedes' late consolation.

Holland continued their poor form heading out of a disappointing Euro 2012 as they fell 4-2 at neighbours Belgium.

Luciano Narsingh and Klaas Jan Huntelaar had cancelled out Christian Benteke's early opener for the home side, but further goals from Dries Mertens, Romelu Lukaku and Jan Vertonghen gave the Belgians an excellent win.

Two goals in four minutes before the break set Spain on course for a 2-1 win over Puerto Rico.

New Arsenal signing Santi Cazorla fired in the first from the edge of the area, and ex-Gunners captain Cesc Fabregas got the second moments later on the stroke of half-time.

Marc Cintron pulled one back for the hosts in the 65th minute.

Nelson Oliveira and Cristiano Ronaldo got the goals as Portugal beat 10-man Panama 2-0 at the Estádio do Algarve.

Oliveira beat two men before lashing the ball into the top corner on the half-hour mark and, after Gabriel Gomez was sent off early in the second half for a clash with Joao Moutinho, Ronaldo turned to fire home moments later.

Croatia were stunned 4-2 by Switzerland in Split, with Mario Gavranovic's double helping the Swiss to victory, while Russia were held 1-1 in Moscow by the Ivory Coast, Alan Dzagoev's opener cancelled out late by Mark Gradel.

What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

Ziina users can donate to relief efforts in Beirut

Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”

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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