John Moore is frustrated that he has yet to win a top-level race outside his Hong Kong base, but he is confident that his two sprinters, Dim Sum and Sunny King, can put an end to that sequence with a victory in tomorrow's Group 1 Golden Shaheen.
The Australian has trained in Hong Kong since becoming assistant to his father, George, in 1971. Since then the 60-year-old has blossomed to become the special administrative region's leading trainer. Moore took out his own licence in 1985 and has now won the trainers' championship five times. In 2005 he became the Hong Kong's leading trainer when he eclipsed Brian Kan's record for most career wins.
Despite a steady flow of Group 1 victories, Moore has failed to capitalise on his local success and is still searching for his maiden win in a foreign Group 1 contest.
"I have no qualms about the fact that I haven't done it yet," said Moore at Meydan Racecourse yesterday. "It is frustrating, but I know I can compete at the top level."
Moore has sent two runners to Dubai and hit the bar twice. In 2008 Viva Pataca touched down at Nad al Sheba as the favourite for the Sheema Classic having rattled off four Group 1 wins in the preceding two years. Drawn 12 of 16 however, Viva Pataca was pushed wide and despite picking up when given a clear run settled for second place behind Sun Classique.
Last year, One World finished third to Kinsale King and Rocket Man, who contest the Golden Shaheen again this year.
"I just don't think that One World was good enough," Moore said.
"The experience has allowed me to know what type of horse I need to win that elusive Group 1 off-shore." Step forward Dim Sum, who is stabled next to Viva Pataca in Hong Kong, and Sunny King; two characters that complement each other's weaknesses perfectly.
With Rocket Man, Kinsale King, Euroears and perhaps even Charlie's Moment all looking to snatch the lead, the race could be set up perfectly for a fast finisher.
As if issuing instructions to a cyclist in the Tour de France, Moore wants Darren Beadman, Dim Sum's jockey, to settle behind the trailblazers before unleashing a challenge in the final quarter.
Meanwhile, Gerald Mosse will be sat at the back on Sunny King and, as the eight-year-old's stamina has proven, expect a late flourish.
"Dim Sum has got amazing speed for a European horse. He could lead this field because he has done it quite easily in Hong Kong. That's not the way I'm going into this race, though. His best races are run when he allows the other horses to break the wind by laying up behind the speed and then kicking on.
"If they go like the clappers up front, they are going to set up the race for closers, which is where Sunny King comes into the fray.
"From this morning's track work, Sunny King would have to be the pick of the two of them, and he is four from four on synthetic surfaces in the United Kingdom.
"We are going to do it, we have the team to do it and the jockeys to help us achieve our aim. We will keep coming back until we do it."
sports@thenational.ae
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.”
FIXTURES
All games 6pm UAE on Sunday:
Arsenal v Watford
Burnley v Brighton
Chelsea v Wolves
Crystal Palace v Tottenham
Everton v Bournemouth
Leicester v Man United
Man City v Norwich
Newcastle v Liverpool
Southampton v Sheffield United
West Ham v Aston Villa
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Results
5pm: Maiden (PA) Dh80,000 (Turf) 1,200m, Winner: ES Rubban, Antonio Fresu (jockey), Ibrahim Aseel (trainer)
5.30pm: Handicap (PA) Dh85,000 (T) 1,200m, Winner: Al Mobher, Sczcepan Mazur, Ibrahim Al Hadhrami
6pm: Handicap (PA) Dh80,000 (T) 2,200m, Winner: Jabalini, Tadhg O’Shea, Ibrahim Al Hadhrami
6.30pm: Wathba Stallions Cup (PA) Dh70,000 (T) 2,200m, Winner: AF Abahe, Tadgh O’Shea, Ernst Oertel
7pm: Handicap (PA) Dh85,000 (T) 1,600m, Winner: AF Makerah, Tadhg O’Shea, Ernst Oertel
7.30pm: Maiden (TB) Dh80,000 (T) 1,600m, Winner: Law Of Peace, Tadhg O’Shea, Satish Seemar
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I pledge to always stand up for these values: Zayed's values for tolerance and human fraternity
