Within seconds of Patrick Kane's bizarre overtime winner that delivered a long overdue Stanley Cup to Chicago, harsh reality set in for the Toronto Maple Leafs and their legion of long-suffering fans. The Blackhawks finally claimed the Stanley Cup after a drought of nearly five decades with their finals victory over the Philadelphia Flyers, making the Leafs the new laggards of the NHL. Toronto have not won the cup since 1967, a 42-year title-bereft streak that is the longest in the league. There are some post-expansion teams who have not won the cup, of course, but most of them are new teams barely a decade or two into their NHL membership.
The Leafs, meanwhile, are an NHL original, a flag-bearing franchise that played in the league's first 1917-18 season and won 13 Stanley Cups in their first 50 years of existence. But the last 43 years? Nothing doing. Not only have Toronto failed to win the cup since the NHL expanded from six teams, the Leafs have not even played for the silver chalice. Not once, since '67, have Toronto made it to the final. That is astounding - particularly considering the Leafs had won the Stanley Cup four times in six years before the start of the drought, with a team, coached by Punch Imlach, that included George Armstrong, Red Kelly, Dave Keon, Frank Mahovlich, Marcel Pronovost,Tim Horton, Johnny Bower and Terry Sawchuk.
Only five other NHL teams have never made it to the Stanley Cup final since the league first expanded, and three (Atlanta, Columbus and Minnesota) have barely been around for 10 years. San Jose are less than 20 years old - and at least the Sharks have hope, winning the Western Conference this season and advancing to the league semi-finals (where they lost to Chicago). Even Phoenix, the NHL's forgotten franchise in the Arizona desert (who first joined the league as the Winnipeg Jets in 1979), appear closer to Stanley than Toronto.
This is not to say there is no hope in Toronto; if anything, there is hope in abundance. And maybe, just maybe, Brian Burke, the general manager, can continue turning around the franchise and make the NHL's most lucrative market also a more relevant one. But until that day comes, the Leafs remain the punch line to a joke they have already grown tired of hearing. @Email:sports@thenational.ae
? Jonathan Toews, Blackhawks: The Chicago captain was awarded the Conn Smythe Trophy as the post-season MVP despite having just three assists against the Flyers in the Stanley Cup final. He had 29 post-season points overall. ? Daniel Briere, Flyers: He produced 12 points in the six games of the finals, and was the scoring leader of the play-offs with 30 points.
Team of the week The Blackhawks paraded the Stanley Cup in front of a reported two million fans in Chicago on Friday.
Duds of the week ? Chris Pronger, Flyers: He went a career-worst minus-5 against Chicago in Game 5. He was on the ice for six of the Blackhawks' seven goals and in the penalty box for the other Chicago score.
Flyers' defence: Philadelphia forced overtime in Game 6, but were shocked shortly afterwards when Patrick Kane beat Michael Leighton with a shot from the bottom of the left face-off circle.
Who's best The NHL Awards show is in Las Vegas on Wednesday, June 23. Sidney Crosby, Alex Ovechkin and Henrik Sedin are nominated for the Hart Trophy, which is awarded to the MVP.
Who's next The draft is June 25-26. Edmonton will have the No 1 pick, and will choose between the top prospects Taylor Hall and Tyler Seguin. The Boston Bruins, courtesy of Toronto in last summer's Phil Kessel trade, will pick second overall.
Who's available The period for signing free agents begins on July 1.
Diriyah%20project%20at%20a%20glance
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Points tally
1. Australia 52; 2. New Zealand 44; 3. South Africa 36; 4. Sri Lanka 35; 5. UAE 27; 6. India 27; 7. England 26; 8. Singapore 8; 9. Malaysia 3
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
THE SPECS
Engine: 1.5-litre turbocharged four-cylinder
Transmission: Constant Variable (CVT)
Power: 141bhp
Torque: 250Nm
Price: Dh64,500
On sale: Now
MATCH INFO
Qalandars 109-3 (10ovs)
Salt 30, Malan 24, Trego 23, Jayasuriya 2-14
Bangla Tigers (9.4ovs)
Fletcher 52, Rossouw 31
Bangla Tigers win by six wickets
RECORD%20BREAKER
%3Cp%3E%3Cstrong%3EYoungest%20debutant%20for%20Barcelona%3A%3C%2Fstrong%3E%2015%20years%20and%20290%20days%20v%20Real%20Betis%3Cbr%3E%3Cstrong%3EYoungest%20La%20Liga%20starter%20in%20the%2021st%20century%3A%20%3C%2Fstrong%3E16%20years%20and%2038%20days%20v%20Cadiz%3Cbr%3E%3Cstrong%3EYoungest%20player%20to%20register%20an%20assist%20in%20La%20Liga%20in%20the%2021st%20century%3A%20%3C%2Fstrong%3E16%20years%20and%2045%20days%20v%20Villarreal%3Cbr%3E%3Cstrong%3EYoungest%20debutant%20for%20Spain%3A%3C%2Fstrong%3E%2016%20years%20and%2057%20days%20v%20Georgia%3Cbr%3E%3Cstrong%3EYoungest%20goalscorer%20for%20Spain%3A%3C%2Fstrong%3E%2016%20years%20and%2057%20days%3Cbr%3E%3Cstrong%3EYoungest%20player%20to%20score%20in%20a%20Euro%20qualifier%3A%3C%2Fstrong%3E%2016%20years%20and%2057%20days%3C%2Fp%3E%0A
A Bad Moms Christmas
Dir: John Lucas and Scott Moore
Starring: Mila Kunis, Kathryn Hahn, Kristen Bell, Susan Sarandon, Christine Baranski, Cheryl Hines
Two stars
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
MATCH INFO
Watford 2 (Sarr 50', Deeney 54' pen)
Manchester United 0
Honeymoonish
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Elie%20El%20Samaan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENour%20Al%20Ghandour%2C%20Mahmoud%20Boushahri%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
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.”
Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar
'HIJRAH%3A%20IN%20THE%20FOOTSTEPS%20OF%20THE%20PROPHET'
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