Sergio Aguero, of Argentina, has been a find for Manchester City, the English Premier League title contenders.
Sergio Aguero, of Argentina, has been a find for Manchester City, the English Premier League title contenders.
Sergio Aguero, of Argentina, has been a find for Manchester City, the English Premier League title contenders.
Sergio Aguero, of Argentina, has been a find for Manchester City, the English Premier League title contenders.

Maradona: Sergio Aguero deserves Manchester City


Paul Radley
  • English
  • Arabic

DUBAI // Sergio Aguero, the Argentina forward, has finally found a team befitting of his talent, according to Diego Maradona, his well-credentialed father-in-law.

Aguero has scored six goals in four matches in an eye-catching start to his Manchester City career, after joining from Atletico Madrid in the summer. On Wednesday evening, City will begin their first campaign in the Uefa Champions League when they face Napoli, a club Maradona led to domestic and European honours during six years there as a player.

Despite his strong allegiances to both Aguero, who is married to his daughter, Giannina, and the Italian club, Maradona will have to watch from afar.

He is preparing Al Wasl, his new UAE club side, for their first competitive fixture, Thursday night's Etisalat Cup match against Al Jazira in Abu Dhabi.

Maradona is happy Aguero has joined a club in the English Premier League who have the potential to "fight for everything", having initially feared his talents would be wasted at the club in the Spanish capital.

"People at Atletico Madrid said I was a fool," Maradona, who included Aguero in his squad when he was Argentina's manager at last summer's World Cup, said on Sunday.

"I told them that this foolish person is not that much of a fool, because Aguero is playing in a team at Manchester City where he is going to fight for everything.

"It was not fair, with respect to his teammates at Atletico Madrid, for Aguero to be playing for a team who were not competing for the big championships.

"It was worrying me that he may have played for many years for Atletico Madrid and for that time they would only have one star, and didn't do much in Europe. Now Kun Aguero is playing at a place he deserves."

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Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

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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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Director: Harmony Korine

Stars: Matthew McConaughey, Isla Fisher, Snoop Dogg

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TCL INFO

Teams:
Punjabi Legends 
Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan

Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
When December 14-17

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Dir: The Russo Brothers
Starring: Chris Evans, Chris Pratt, Tom Holland, Robert Downey Junior, Scarlett Johansson, Elizabeth Olsen
Four stars