Mguni critical of Cerezo's tactics

DUBAI // When Musawengosi Mguni was deciding his future around this time last year, he had plenty of offers to stay in Europe where he was playing in Cyprus for Omonia Nicosia. The lanky Zimbabwean striker, 26, spurned them all to make a fresh start in the UAE with Al Shabab, lured by the promise of learning from the Brazilian coach Toninho Cerezo. He is regretting making that decision.

"I am really very unhappy here," said Mguni. "When I left Europe, my team wanted me to stay. They wanted me to go to bigger clubs and I had those opportunities. But I needed a change. But I wish I had never made that decision." The reason for his despondency is the lack of support he felt he received from Cerezo. "I had a really bad relationship with the coach," added Mguni, who still has two more years on his contract with Shabab, but is sure to leave.

"He was supposed to support me, but he would not do that when speaking to the newspapers. He would not support me during the games. Most of the games, I have been playing 60 minutes. It is not my job to ask the coach why I have played less minutes. "It is up to him. If he thinks I am doing something wrong, or that I am tired, he is more than welcome to come and talk to me. "Every player gets tired, but it should be about the player who gives more even when he is tired."

Mguni believes there was more than a hint of favouritism in Cerezo's style of working as he tried to promote his two Brazilians, Marcos Assuncao and Carlos Renato. "They got a lot more chances and almost always played for 90 minutes," he said. "I did not get that opportunity. I don't remember the last time I played 90 minutes. I can't count the games. "I think Cerezo is self-centred. He was a national team player for the best football country in the world and I expected a lot more from him."

Mguni is not the only Shabab player to have issues with Cerezo. Salem Saad has been put up for sale after a breakdown in his relationship with the coach. Khalid Darwish has had a showdown with Cerezo, while Mehrdad Oladi has decided to leave because of the Brazilian. "If you look at the young players, they are afraid to ask Cerezo for advice or joke with him," revealed Mguni. "In Europe, I could feel free to go and have coffee with my coach. We were more like family.

"Here, if I have a problem I have to deal with it myself." Mguni who has offers from clubs in Iran, Ukraine and Scotland, added: "Where I came from (Cyprus), it is a league that is maybe 100 times better than here. Europe makes you who you are. As long as you are playing in Europe, you are playing in the best leagues in the world. I have played with big clubs and much bigger players with competition for places.

"Here, it is about whoever the coach likes. It is not about competition. Whether you fight for your position, whether you work hard in training or whether you play a very good game, the next match you will not be in the team. "Hard work or commitment did not matter." arizvi@thenational.ae

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UAE 2-1 Saudi Arabia

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Saudi Al Abed (pen) 20’

Man of the match Ahmed Khalil (UAE)

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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.

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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.

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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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