Burnley defender Kieran Trippier, left, vies with Arsenal striker Alexis Sanchez during their English Premier League match at Turf Moor in Burnley, north west England, on April 11, 2015. AFP PHOTO / LINDSEY PARNABY
Burnley defender Kieran Trippier, left, vies with Arsenal striker Alexis Sanchez during their English Premier League match at Turf Moor in Burnley, north west England, on April 11, 2015. AFP PHOTO / LShow more

Kieran Trippier lifts Burnley from the back and is on Roy Hodgson’s radar for good reason



Had Manchester City not been taken over in 2008, the futures of several of their young stars may have been very different. City had an track record of promoting youth and reached the 2006 FA Youth Cup final before winning the competition in 2008.

Without the money of their rivals to compete on the transfer market, City had to invest in youth. That changed and City were able to buy some of the world’s best players, but it meant fewer chances for youth players.

Daniel Sturridge, Dedryck Boyata, Vladimir Weiss, Nedum Onuoha and Kieran Trippier were the stars of that 2008 youth team.

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Sturridge has progressed to become a Liverpool star and is central to Roy Hodgson’s plans for Euro 2016, but England’s manager was at Turf Moor on Saturday evening not to watch any of the Arsenal players who extended their winning run to eight – none of their starting XI were English.

Instead, his focus was on two Burnley players. Out-of-form striker Danny Ings and right-back Trippier, two of Burnley’s best players, are almost certain to leave if the Lancashire club are relegated.

They will do so with the reluctance but best wishes of fans who have appreciated their quality in two eventful seasons at Turf Moor.

Trippier, 24, was born in Bury, 24 kilometres from Burnley’s terraced houses. Promising at City, he was another homegrown talent to lose out after the takeover. Though he featured in a 2009 pre-season friendly against Barcelona, Trippier went on loan to Barnsley and then to second-tier Burnley.

A successful 2011/12 season in which he was named Burnley’s Player of the Year saw the team make the deal permanent.

The England Under 21 international has started in all 31 Premier League games for Burnley this season, missing only four minutes of action.

Only West Ham United’s Stuart Downing has made more accurate crosses, but Burnley still struggle for goals, scoring just once in six league games.

Unable to change that unfortunate statistic against Arsenal, they played a high formation which suited Trippier. Burnley had held out for 70 minutes at the Emirates Stadium earlier in the season, but they went behind after 11 minutes to an Aaron Ramsey goal.

“We defended well and got our blocks in, I just disappointed that we didn’t get a point,” Trippier said. “The difference in this league is that if you give up chances to as team like Arsenal then they’ll take them.”

Trippier came closest to equalising among the swirling winds of Turf Moor, his 23rd-minute free kick well saved by David Ospina. Burnley deserved the applause of their fans at the end of the 1-0 defeat, but they will need more than that if they are to avoid the drop.

“We didn’t get the points today but we move on against Everton next Saturday,” he said. “People wrote us off at the start of the season, but we’re still there, still fighting.

“We knew it would be difficult but we’ve stuck together. Most of the boys had not played in this league before and we needed to find our feet but we’ve done that.”

Aided by prospects such as Trippier, they have done well to have a chance of staying up so close to the end of the season.

“We give everything and the belief in our team is so strong. That has never changed. Hopefully we can get the points we need to stay in this league. We’ve got six cup finals now.”

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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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