MARINA DEL REY, CALIFORNIA // On a recent morning in the posh seaside town of Marina del Rey, two men finished their run down Admiralty Way.
Had it been Ashton New Road or Rowsley Street - roads that bring the masses into the City of Manchester Stadium back in England - perhaps they would have not been able to run uninterrupted.
But here, Roberto Mancini, the Manchester City manager, David Platt, his assistant, ran and then strolled along the street, chatting as they made their way back to the hotel, in this suburb of Los Angeles.
Perhaps instinctively, Mancini shot a glance at an onlooker but kept on his way when no approach for an autograph or picture was made. Past a group of blissfully unaware construction workers the pair went before reaching their destination, disappearing into the US$500 (Dh1,816) a night hotel overlooking the Pacific Ocean.
Manchester City have spent a portion of their preseason on tour in North America, and aside from the stadiums and a scattered few other experiences, the club has blended into the background.
Perhaps it is the best way for a team with heightened expectations, with transfer rumours swirling around it and with a loaded and expensive roster trying to come together and prepare for what could be the most challenging season of City's 131-year existence.
While basking in obscurity has gone well, so too has the on-the-field preparations for the team.
"For us it is important to stay here," Mancini said. "We have good weather, we've trained very well, and because the pitches for training have been fantastic. The games are important games and I think we want to have this also next year."
City have won two of their three friendlies so far in the US. They beat Mexican side Club America by 2-0 in San Francisco, then got past the Vancouver Whitecaps, the Major League Soccer side, 2-1 in Vancouver, Canada.
Today, Man City will close out their tour with a match against LA Galaxy, where David Beckham, the former Manchester United player, will face them.
Beckham believes that City are capable of challenging United, the defending Premier League champions, for the honours this season. "If they continue to bring in players, then who knows?" he said.
"You saw it with Chelsea when Roman [Abramovich] arrived. They won two league titles and they won them on the trot."
Player movement has been fluid at City for several years and this preseason is no different.
Already, City have said farewell to two players - Jerome Boateng left the club for Bayern Munich and Jo parted ways in favour of Brazilian side Internacional. But, Carlos Tevez's expected departure to Corinthian, the Brazilian club, broke down this week.
Mancini has deflected much of the attention whenever he has been bombarded by questions about Tevez and what conversations he has had with last season's captain. On Thursday, Mancini said Tevez's "telephone doesn't work".
Players, though, said the issue has not been a distraction.
"Not really," Gareth Barry, the midfielder, said when asked if the protracted saga of Tevez's situation had taken the focus away from the players.
"Obviously, there's conversations about it, but the lads are just trying to get fit. We're players, so there's nothing we can really do about it, just getting fit and enjoying the training."
Perhaps fittingly, Manchester City's first test of the new season will come against Manchester United, in the Community Shield on August 7 at Wembley.
Success in that match would start the season off on a high note, and this North American swing could play a role in the success.
"These games have been fantastic, but we're not done," Barry said. "We have a trip to Dublin when we get back and have two more games there, one against Inter [Milan], and it's going to be a good test. It's all building us up for the big game, and then we'll be ready for the season."
sports@thenational.ae
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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Mercedes V250 Avantgarde specs
Engine: 2.0-litre in-line four-cylinder turbo
Gearbox: 7-speed automatic
Power: 211hp at 5,500rpm
Torque: 350Nm
Fuel economy, combined: 6.0 l/100 km
Price: Dh235,000
COMPANY PROFILE
Name: HyperSpace
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
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
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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.”
RESULTS
5pm: Maiden (PA) Dh80,000 1,200m
Winner: Shafaf, Sam Hitchcott (jockey), Ahmed Al Mehairbi (trainer)
5,30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,200m
Winner: Noof KB, Tadhg O’Shea, Ernst Oertel
6pm: The President’s Cup Listed (TB) Dh380,000 1,400m
Winner: Taamol, Jim Crowley, Ali Rashid Al Raihe
6.30pm: The President’s Cup Group One (PA) Dh2,500,000 2,200m
Winner: Rmmas, Tadhg O’Shea, Jean de Roualle
7pm: Arabian Triple Crown Listed (PA) Dh230,000 1,600m
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami
7.30pm: Handicap (PA) Dh80,000 1,400m
Winner: AF Mekhbat, Antonio Fresu, Ernst Oertel
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills