Philadelphia 76ers' K.J. McDaniels, right, and Nerlens Noel, left, battle for a rebound against Dallas Mavericks' Chandler Parsons, second from right, and Brandan Wright during the first half of an NBA basketball game on Saturday, Nov. 29, 2014, in Philadelphia. (AP Photo/Matt Slocum)
Philadelphia 76ers' K.J. McDaniels, right, and Nerlens Noel, left, battle for a rebound against Dallas Mavericks' Chandler Parsons, second from right, and Brandan Wright during the first half of an NBA basketball game on Saturday, Nov. 29, 2014, in Philadelphia. (AP Photo/Matt Slocum)
Philadelphia 76ers' K.J. McDaniels, right, and Nerlens Noel, left, battle for a rebound against Dallas Mavericks' Chandler Parsons, second from right, and Brandan Wright during the first half of an NBA basketball game on Saturday, Nov. 29, 2014, in Philadelphia. (AP Photo/Matt Slocum)
Philadelphia 76ers' K.J. McDaniels, right, and Nerlens Noel, left, battle for a rebound against Dallas Mavericks' Chandler Parsons, second from right, and Brandan Wright during the first half of an NB

NBA round-up: Philadelphia 76ers lose again and inch closer to dubious distinction


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PHILADELPHIA // After setting a franchise record for losses to start the season, the 76ers continued to focus on long-term goals.

Tyson Chandler had 20 points and 13 rebounds to help the Dallas Mavericks beat Philadelphia 110-103 on Saturday night, sending the 76ers to a 16th straight loss to start the season.

Michael Carter-Williams had a triple-double with 18 points, 16 assists and 10 rebounds for the 76ers, who eclipsed the 1972-73 club that began 0-15 on the way to setting an 82-game NBA record for fewest victories at 9-73.

Philadelphia became the fifth team in league history to open with at least 16 straight losses, joining the 1994-95 Clippers (0-16), 1998-99 Clippers (0-17), 1988-89 Heat (0-17) and the 2009-10 Nets (0-18).

“I’m fine and I don’t want those guys worrying about any record,” Philadelphia coach Brett Brown said. “We just have to keep our group together and move them along. I have so much respect for that group because their spirit has not been broken.”

Philadelphia, with a roster of draft picks and young, undrafted players, is sacrificing victories to build for the future. Of the 12 players Brown played versus Dallas, only Luc Mbah a Moute has more than two years of NBA experience.

“We’re heartbroken we haven’t won,” Brown said. “But down deep I feel like I know something that’s going on that I like. I think they will be rewarded for the work they’re putting in. I hope it’s sooner than later to validate their efforts.”

WIZARDS 83, PELICANS 80

Marcin Gortat had a season high 24 points and 13 rebounds, Bradley Beal scored 12 points and the Washington Wizards beat the New Orleans Pelicans. The Wizards trailed only once – when Anthony Davis, who led New Orleans with 30 points, dunked to give the Pelicans a 78-77 lead with 3:48 remaining. Paul Pierce hit a layup and a 3-pointer, and Washington led 81-77 with 2:13 to play.

HAWKS 105, HORNETS 75

Paul Millsap scored 18 points, Mike Scott added 14 and Atlanta handed Charlotte a ninth straight loss. Dennis Schroder and Kyle Korver each finished with 12 points for Atlanta (9-6), which has won two straight and four of five. The Hornets (4-14) trailed by 20 early in the second quarter, by 32 late in the second and were down by 44 early in the third.

CAVALIERS 109, PACERS 97

Kevin Love scored a season-high 28 points, Kyrie Irving added 24 and Cleveland defeated Indiana Pacers. LeBron James added 19 points as Cleveland won its third straight game after losing four in a row and moved its record to 8-7. The Cavaliers have won the three games by an average of 23.3 points. Love, who came into the game averaging 16.5 points, scored 16 in the first quarter.

CLIPPERS 112, JAZZ 96

Blake Griffin scored 28 points and Chris Paul added 17 points and 10 assists to help Los Angeles beat Utah and post their fourth straight win. Jamal Crawford tallied 22 points and DeAndre Jordan grabbed 12 rebounds as the Clippers (11-5) closed a seven-game trip that covered over 7,200 miles with a 6-1 record. Gordon Hayward scored 30 points and Derrick Favors had 19 for the Jazz (5-12).

ROCKETS 117, BUCKS 103

James Harden scored 19 of his game-high 34 points in the decisive third quarter and Houston beat Milwaukee Bucks 117-103. Rookie Jabari Parker scored 19 points and Ersan Ilyasova added 18 for Milwaukee, which had its three-game winning streak snapped. Harden and Bucks center Larry Sanders jostled near center court with 3:19 left in the game with Houston leading handily.

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The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

Brief scores:

Manchester City 3

Aguero 1', 44', 61'

Arsenal ​​​​​1

Koscielny 11'

Man of the match: Sergio Aguero (Manchester City)

The years Ramadan fell in May

1987

1954

1921

1888

What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

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Empty Words

By Mario Levrero  

(Coffee House Press)
 

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The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

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Price: From Dh117,059

MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199

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.”