Manchester United's Memphis Depay, centre, in action during their Uefa Champions League play-off first leg match against Club Brugge at Old Trafford in Manchester, Britain, 18 August 2015.  EPA/PETER POWELL
Manchester United's Memphis Depay, centre, in action during their Uefa Champions League play-off first leg match against Club Brugge at Old Trafford in Manchester, Britain, 18 August 2015. EPA/PETER Show more

Match-winning Memphis Depay has Manchester United re-entering Europe’s rareified air



Manchester // As the watching Alex Ferguson can testify, Manchester United have a long history of making things difficult for themselves.

They did so once more, but they should soon be rubbing shoulders with Europe’s finest again. For that, they can thank one of the continent’s most coveted talents. And, sadly for Club Brugge, a Belgian.

As their 496-day exile from the Uefa Champions League ended, it was with a memorable, match-winning performance from Memphis Depay, who spurned the advances of Paris Saint-Germain and Liverpool to join United in the summer. There is nothing quite like the promise of youth to herald a new era, and Depay and Adnan Januzaj, 21 and 20 respectively, showcased their talent as Club Brugge were beaten.

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Yet if United enter next week’s second leg with optimism, it will be thanks in part to Marouane Fellaini’s injury-time header to change the complexion of the tie with his countrymen.

The return fixture should not a less fraught affair than was threatened, and it would rank as a disastrous result if United were eliminated. The turnaround last night came courtesy of Depay, who turned an early deficit into a first-leg advantage as he opened his United account with a superbly-taken pair of goals. He was the Eredivisie’s 22-goal top scorer last season. In two instants of brilliance, the £25 million (Dh143.8m) winger offered evidence why.

First, he flicked the ball over a defender, chested it down and produced a clinical finish, giving Sebastien Bruzzese no chance. Then he whipped in a shot from the edge of the area.

It is notable how much more dangerous the Dutchman has looked since Louis van Gaal abandoned his experiment of playing him as a No 10. Depay should have scored more, squaring the ball when he ought to have shot and ballooning an effort after a clever backheel by Wayne Rooney.

The United captain also had an overhead kick cleared off the line by Victor Vazquez. It qualified as his first shot on target this season and, while mixed, his was an improved display but his search for a goal continues.

Meanwhile, United’s trident of attacking midfielders offered more invention and incision than they had against Tottenham Hotspur or Aston Villa. Januzaj followed his winner at Villa with arguably his most assured display since his breakthrough season. His confidence showed in the tricks he tried.

It meant that, Depay apart, the best player on show was a Belgian, but in United red. His prominence illustrated the problems facing clubs such as Brugge nowadays. They were European Cup finalists in 1978, but now 10 Belgium internationals ply their trade within a 35-mile radius of Old Trafford. One of them, Fellaini, scored after replacing Rooney as United opted for a late bombardment.

Michel Preud’homme’s side ended with 10 men, after Brandon Mechele collected two cautions, but acquitted themselves well. If their goal came with more than a hint of fortune, other attacks suggested they have the potential to cause problems aplenty on their own turf. United scarcely looked secure enough defensively and allowed Brugge to score a potentially invaluable away goal.

While United began vibrantly, they were soon behind. Vazquez delivered a low free kick and Michael Carrick’s attempt to cut it out backfired when he merely deflected the ball past a wrong-footed Sergio Romero.

It was the first goal the Argentine conceded in his United career and capped an unfortunate evening for Carrick who kept misjudging passes. He did not re-emerge for the second half, when Bastian Schweinsteiger took his place. It was scarcely surprising.

Manchester United 3 Brugge 1

Manchester United Depay 13', 43', Fellanini 90+3'

Brugge Carrick (og) 8'

Man of the match Memphis Depay (United)

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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.

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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.

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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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