Certify, left, ridden by Michael Barzalona beats Purr Along to win the Barrett Steel May Hill Stakes during the Ladbrokes St Leger Festival at Doncaster Racecourse.
Certify, left, ridden by Michael Barzalona beats Purr Along to win the Barrett Steel May Hill Stakes during the Ladbrokes St Leger Festival at Doncaster Racecourse.
Certify, left, ridden by Michael Barzalona beats Purr Along to win the Barrett Steel May Hill Stakes during the Ladbrokes St Leger Festival at Doncaster Racecourse.
Certify, left, ridden by Michael Barzalona beats Purr Along to win the Barrett Steel May Hill Stakes during the Ladbrokes St Leger Festival at Doncaster Racecourse.

Mahmoud Al Zarooni downbeat as Certify preparations take a step up


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Mahmoud Al Zarooni offered up a downbeat report on Certify last night as the training programme for the fancied English 1,000 Guineas runner takes a step up ahead of her proposed engagement at Newmarket in two weeks.

Al Zarooni was speaking in the Newmarket winners' enclosure after he sent out Improvisation, an English Derby entrant, to win a maiden race over 10 furlongs under Mickael Barzalona.

It was the Godolphin trainer's only runner on the eight-race card but despite the success he was hardly jubilant when discussing the chances of the unbeaten filly.

"She's not bigger than last year and, training-wise, she is pretty similar to last year," Al Zarooni said.

Certify remained in Britain instead of travelling to Dubai for the World Cup Carnival and endured a harsh winter in Newmarket. She has yet to train on turf and is likely to run on grass for the first time when she lines up at Newmarket on May 5.

"We have not decided whether she will have a racecourse gallop but I would have thought it was unlikely," Al Zarooni added.

Certify did a sparkling piece of work on Saturday, however, and will undergo another serious gallop this Saturday in order for Al Zarooni to better assess where his filly stands, so close to the first British classic of the season.

Certify registered four wins for Barzalona last season in a campaign which culminated in victory in the Group 1 Shadwell Fillies' Mile, also staged at Newmarket.

Earlier, Sir Henry Cecil provided an upset in the feature Nell Gwyn Stakes when Tom Queally rode Hot Snap from last place to secure the Group 3 contest. It was the eighth time Cecil had won the seven-furlong event and added much-needed momentum to his season following the retirement of Frankel.

Hot Snap is now regarded as the most likely winner of the English 1,000 Guineas.

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The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

UAE currency: the story behind the money in your pockets
Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

Where to submit a sample

Volunteers of all ages can submit DNA samples at centres across Abu Dhabi, including: Abu Dhabi National Exhibition Centre (Adnec), Biogenix Labs in Masdar City, NMC Royal Hospital in Khalifa City, NMC Royal Medical Centre, Abu Dhabi, NMC Royal Women's Hospital, Bareen International Hospital, Al Towayya in Al Ain, NMC Specialty Hospital, Al Ain

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The biog:

Favourite book: The Leader Who Had No Title by Robin Sharma

Pet Peeve: Racism 

Proudest moment: Graduating from Sorbonne 

What puts her off: Dishonesty in all its forms

Happiest period in her life: The beginning of her 30s

Favourite movie: "I have two. The Pursuit of Happiness and Homeless to Harvard"

Role model: Everyone. A child can be my role model 

Slogan: The queen of peace, love and positive energy

UAE currency: the story behind the money in your pockets

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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