Umran Malik had shown a lot of promise in the opening weeks of IPL 2022. On Sunday, he delivered in spectacular fashion with another devastating spell of pace bowling.
The Jammu and Kashmir quick has made Sunrisers Hyderabad's matches a must-watch just for the speeds he generated. Against Punjab Kings at the DY Patil Stadium in Mumbai, he was at his fiery best as he combined speed and accuracy to pick up 4-28 from his four overs.
Malik bowled a superb final over in Punjab's first innings, giving away no runs and picking up three wickets to wrap up the innings for 151. The young speedster thus became just the fourth bowler to deliver a maiden in the 20th over in the IPL. The final wicket was a run-out, making it a four-wicket maiden.
Punjab lost their last five wickets without the addition of a run, ruining the hard work of Liam Livingstone who threatened to cut loose during his innings of 60 off just 33 balls with five hits to the fence and four over it.
When Livingstone and Shahrukh Khan (26) were batting together, Punjab looked set for a good score on 132-4 with four overs to go.
However, the innings wear pear-shaped when the other in-form Hyderabad pacer - Bhuvneshwar Kumar - dismissed Khan with a short ball. In his next over, Kumar got Livingstone caught off a short and wide one to finish with 3-22 and open the floodgates.
The last over of the innings was given to Malik and Punjab's lower order had no chance. The 22-year-old first had Odean Smith caught and bowled off a shorty ball before rattling the stumps of the next two bowlers off successive deliveries. A run out off his last ball denied Malik a hat-trick but the job was done.
After proving expensive in the opening matches of the IPL, Malik seems to have found his radar. "I think I have got my line and length better over the last few days," he said, "The plan was to keep it full and straight, and in that channel just outside off," the pacer said.
His mentor and bowling coach in the Hyderabad team is South African pace great Dale Steyn. The former Protea quick had said he wants to guide Malik the way Allan Donald did to him when he first started his career.
"I had somebody like Alan Donald in the dressing room. I idolised Alan. When he congratulated me when I did something, that was fantastic. I kind of want to do the same thing for Umran," Steyn said.
"It's all him. I am going to just be there to put an arm around him when things are not going well and I am just going to be there to shake his hands when it goes really well."
Hyderabad then eased to a fourth straight IPL win after a fourth-wicket unbeaten stand of 75 between Aiden Markram (41) and Nicholas Pooran (35) took the team home with seven balls and seven wickets to spare.
"We were 30-40 runs short and lost too many early wickets which put us behind the game," said Punjab captain Shikhar Dhawan. "The early wickets meant we had to hold wickets and that's where we had to mould our game. There was a middle order recovery but the early wickets cost us.
"The discussion with the batting will be to save wickets till the 13th-14th over, the bowlers are doing well.
"We need to put up complete performances and hopefully a three to four game turnaround which can change a season will come in."
Hyderabad joined Royal Challengers Bangalore, Lucknow Super Giants and Gujarat Titans at the top of the table with eight points.
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Al Mrzab Restaurant
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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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Fight card
1. Featherweight 66kg: Ben Lucas (AUS) v Ibrahim Kendil (EGY)
2. Lightweight 70kg: Mohammed Kareem Aljnan (SYR) v Alphonse Besala (CMR)
3. Welterweight 77kg:Marcos Costa (BRA) v Abdelhakim Wahid (MAR)
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7. Featherweight 66kg: Yousef Al Husani (UAE) v Mohamed Allam (EGY)
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9. Featherweight 66kg: Jaures Dea (CMR) v Andre Pinheiro (BRA)
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