Mike de Kock has said that star South African import Noah From Goa can be more than a match for Ahmad bin Harmash’s Championship in the Zabeel Mile at Meydan on Thursday night.
Noah From Goa, a Guineas winner in his homeland, ran a huge race when four and a quarter lengths adrift of Championship in the Al Fahidi Fort over 1,400 metres last month.
It was the four-year-old’s first start for over a year, following the tough quarantine journey De Kock’s horses have to endure from South Africa via Mauritius and England to Dubai.
De Kock also runs Light The Lights, who turned over Championship over 1,800m in the Singspiel Stakes before losing out to Godolphin’s Promising Run in the Al Rashidiya. The five-year-old will be ridden for the first time by Bernard Fayd’Herbe in the 1,600m contest.
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De Kock clearly has high hopes that Noah From Goa, who will be ridden by Christophe Soumillon, can at least make up the ground on the previous meeting with Championship.
“I think Championship if the horse to beat,” De Kock said.
“Noah From Goa has done everything right, it’s his second run back and he’s got 4.25 lengths to find with Championship on their encounter.
“I said after that race that Noa would improve by the distance he was beaten and I’ll stick to that. But he has made the desired progress to get significantly closer this time.”
Championship has become one of those horses who has improved throughout the UAE season and has been a flagship horse for Al Aasfa Stables.
The six-year-old gelding posted a career-best effort in the Al Fahidi Fort, but everything went right for him in front from his draw on the rail. Thursday night’s rivals Flash Fire, who was second, and Noa From Goa, who was third, had to race wide and subsequently covered much more ground. As a result, Championship has to carry a 1.5 kilograms penalty.
Bin Harmash, a former assistant to Mubarak bin Shafya, needs one more win this season to take him to 15 successes — his best campaign so far since he took over in 2013.
Sheikh Mansour bin Mohammed’s horse is Bin Harmash’s only runner on the night.
“He is in very good form and we are really looking forward to running him again,” Bin Harmash said. “Obviously he has a penalty but conditions will suit him and we expect a big run.”
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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.”
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
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Political flags or banners
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Bikes, skateboards or scooters
STAY%2C%20DAUGHTER
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Russia's Muslim Heartlands
Dominic Rubin, Oxford
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