Sport

Jayawardene shows T20 not just for sloggers

Prolific Sri Lanka batsman Mahela Jayawardene is proving you do not have to be a slogger to be a run-getter in Twenty20.

Prolific Sri Lanka batsman Mahela Jayawardene is proving you do not have to be a slogger to be a run-getter in Twenty20. The classy batsman has scored 81, 100 and 98 not out in his three innings at the Twenty20 World Cup to leave him with a tournament average of 139.5. Sri Lanka's Australian coach Trevor Bayliss says the numbers do not lie. "He is batting as well as everyone in the world knows he can bat," said Bayliss.

"Opening in the 20-overs game is really one of the only spots you can make a big score from and we have got a guy here who is used to making big scores, knows how to go about making big scores, not only in the shorter version but in test matches as well. "He is a classical style batsman who doesn't muscle away but still seems to time it pretty well away to the fence or over the fence. He is in a rich vein of form at the moment so hopefully that continues," he added.

On Friday Jayawardene, small in stature but high in experience with 110 test matches and 317 one day internationals to his name, showed his qualities again with a perfectly assembled innings. Piercing the field with well-timed and beautifully executed drives, he was left just two runs short of a hundred. In contrast to 'Made for T20' players wielding heavy wood, Jayawardene applies traditional skills in the modern context but, while clearly proud of his style, he refuses to criticise more unorthodox batsmen.

"For me, it is a contest between bat and ball and if you are batting with the back of the bat and you are getting runs, you are getting runs," he said. "You shouldn't criticise the technique of any player. We need all these different players to take that game to a different level. "I am enjoying it. For me it was about me pushing myself with my technique and ability to see how it would suit for me to play T20 cricket. Batting in the middle (order) was a challenge, I adapted and I did different things.

"But I think opening the batting has given me much more freedom to go out and express myself - guys need to find that. Yes, I am scoring runs, you are not sure how long you are going to be in this game so every time I go out there I want to score runs. "I haven't changed a lot but having said that I am playing a few more different shots than I am used to in one day or test cricket because of different tactics. You tend to analyse and see what works for you and what doesn't."

* Reuters

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Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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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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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
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Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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