Ambati Rayudu, left, congratulates Parthiv Patel on reaching his half-century. Rayudu scored one, too. Sajjad Hussain / AFP
Ambati Rayudu, left, congratulates Parthiv Patel on reaching his half-century. Rayudu scored one, too. Sajjad Hussain / AFP
Ambati Rayudu, left, congratulates Parthiv Patel on reaching his half-century. Rayudu scored one, too. Sajjad Hussain / AFP
Ambati Rayudu, left, congratulates Parthiv Patel on reaching his half-century. Rayudu scored one, too. Sajjad Hussain / AFP

Sport

Mumbai batsmen find their touch to push up mid-table in IPL as Punjab’s woes continue

A 130-run stand between Parthiv Patel and Ambati Rayudu helps improve Mumbai's win-loss record to move to the mid-table and only the second team to defend a score in the ninth edition of IPL9.

The National staff

April 24, 2016

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Mumbai Indians 189-6 (Parthiv Patel 81, Ambati Rayudu 65; Mohit Sharma 3/38).

Kings XI Punjab 164-4 (Glenn Maxwell 56, Shaun Marsh 48; Jasprit Bumrah 3/26, Mitchell McClanaghan 3/32, Tim Southee 2/28)

Against Delhi in their previous game loss, Mumbai Indians opener Parthiv Patel was out early going for a second run recklessly where there was none. His teammate Ambati Rayudu, having impressed his coach Ricky Ponting as a No 3 batsman candidate, gave his wicket away just when he had settled in for his 25 runs.

Both made amends yesterday in a 137-run partnership that allowed Mumbai to set a challenging total of 189 for six at the Punjab Cricket Stadium, Mohali. Kings XI Punjab found that peak too high to chase and went down by 25 runs.

Mumbai became the second team to defend their score in this league after Royal Challengers Bangalore have bucked the trend twice.

Parthiv came up with his highest score of 81 in Indian Premier League career and his partner Rayudu hit 65 runs as they made up for the dismissal of Rohit Sharma off the second ball of the innings.

Their partnership was also the highest for Mumbai this season, something they have struggled in IPL9.

Batting for the most part of the innings, the diminutive Parthiv smashed 10 boundaries and a couple of sixes from 58 deliveries before falling to a bouncer from Mitchell Johnson.

“This [innings] was important for me, from a personal point of view as well,” Parthiv told after he was named Man of the Match. “The wicket was dry, so we decided one of us has to play till the 15th-16th over and carry the momentum.”

Parhiv’s strokeplay was well-matched by Rayudu, who hit four boundaries and as many sixes in his 37-ball knock of 65.

The high score meant Punjab needed a similar big partnership but they lost their first two wickets for 32 on the board by the fifth over.

Shaun Marsh (45) and Glenn Maxwell (56) steadied the ship first and then pressed on the accelerator but the required run-rate had crept very high by then.

Sensing the danger, Mumbai captain Rohit brought in the experienced Tim Southee for his second spell and a change of pace worked as the left-handed Marsh holed out to Rayudu at deep mid-wicket. Once Maxwell was bowled by Jasprit Bumrah, the hopes were gone.

“The stand between Parthiv and Rayudu set the game for us,” Rohit said. “It means a lot,” he added before conceding that “all games continue to be important” for Mumbai ahead.

Punjab coach Sanjay Bangar said the team have a break of five days and will try to regroup. Chances of Punjab qualifying are very remote now, though.

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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.

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Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

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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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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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