Scott Parker, left, takes on James Milner during an England training session in Irdning, Austria.
Scott Parker, left, takes on James Milner during an England training session in Irdning, Austria.
Scott Parker, left, takes on James Milner during an England training session in Irdning, Austria.
Scott Parker, left, takes on James Milner during an England training session in Irdning, Austria.

James Milner the man in the middle


  • English
  • Arabic

IRDNING, AUSTRIA // James Milner yesterday gave a clear indication he intends to leave Aston Villa this summer. The 24-year-old midfielder, who was the subject of a £20million (Dh106m) bid from Manchester City earlier this week, refused to be drawn on his future, but significantly seemed to speak of his time at Villa in the past tense, as though he has mentally accepted his two-year stay at Villa Park is coming to an end.

"When I finished the season at Villa, I said we'd discuss [my future] after the World Cup," Milner said. "I have enjoyed my time at Villa - it's a great club to be at. We are moving in the right direction. We've had a good season, been unlucky in two cup competitions and had a higher points total than last year." Villa finished sixth in the Premier League, lost to Manchester United in the Carling Cup final, and were beaten by Chelsea in the semi-final of the FA Cup, but when Milner spoke of his desire being "to win trophies" it seemed apparent he was envisaging doing so elsewhere. "That's my No 1 aim for club and country," he said. "When I finish my career, I want to be able to go into my trophy room and see winner's medals and be as successful as I can possibly be. We came close twice with Villa."

Villa rejected City's bid outright, but the suspicion must be that they will cash in on Milner, just as they did with Gareth Barry when he followed the same route to Eastlands last season. Milner was speaking from England's pre-World Cup training camp in eastern Austria and, by strange coincidence, it looks like Barry's position is the one he is most likely to take in the England line-up. Fabio Capello, the England manager, has long admired Milner, but it was never clear where he saw him fitting into the side. With Barry struggling to recover from injury, though, England are short at the back of midfield, and Milner's versatility could make him the ideal player to step in.

It is only this season, following Barry's sale, that he has returned to the central midfield role in which he first emerged in England's youth set-up. "Last summer I spoke to [the Villa manager] Martin O'Neill, and we talked about the possibility of that. He'd watched me train. In training I don't really tend to play wide, I liked to play in the middle, get on the ball, and that's the way I trained, whether he'd seen me play in the middle for Leeds or Newcastle before. He said he thought I could do the job. I said I would love to play in there. It suits my game slightly better, I like to get involved more and I can use my energy to get up and down the pitch and help defensively."

Milner admits the holding role Barry occupies is not his natural position. "My attributes are more suited to going forward and creating," he said, "but wherever I am asked to play I will; I'll adapt." For now, he is focused simply on staying fit, carrying out the procedures that should help England acclimatise to the altitude they will face on the South African veldt, and ensuring that he is selected in Capello's final 23-man squad for the World Cup, which will be named on June 1. By then, he could well be a City player.

sports@thenational.ae

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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.”

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent