Brandon McNulty only joined UAE Team Emirates at the start of the year. Courtesy photo
Brandon McNulty only joined UAE Team Emirates at the start of the year. Courtesy photo
Brandon McNulty only joined UAE Team Emirates at the start of the year. Courtesy photo
Brandon McNulty only joined UAE Team Emirates at the start of the year. Courtesy photo

Brandon McNulty: I can't wait for the season to resume to show UAE Team Emirates what I can do


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I think it is fair to say that my first season on the World Tour has been less than normal.

My season was halted in the middle of the UAE Tour in February due to the Covid-19 outbreak, but it’s been a tumultuous year for everyone. It really puts everything into perspective.

Credit must go to the UAE Government for acting as quickly as they did during the UAE Tour, especially when a lot of other sporting events were still going on around the world.

It's my first season at this level and my first with UAE Team Emirates. I'd been in contact with Matxin Fernandez, the team manager, for a few years and then team principal and CEO, Mauro Gianetti. It was an easy decision to join the team after seeing the way their young riders performed last season.

It is exciting to be a part of a growing team and I can’t wait to show what I can do when we get back to racing. We’ve got a lot of pro racing experience as part of the management team with Matxin, Mauro and Neil Stephens all adding a wealth of knowledge. I’m looking forward to learning from everyone when the lockdown is lifted and everything goes back to some sense of normality.

As a team we have riders from all over the world meaning we are all quarantining in different countries. I was lucky to have been able to get back to the US before things started to get really bad, so I’m at home with my family and girlfriend in Phoenix, Arizona. We are still allowed to be outside, so life isn’t too drastically different yet, aside from not going to restaurants or doing a ride to the coffee shop.

We’ve got a team WhatsApp group that has been very active. We’ve all got a lot more free time now with no racing so it’s been very fun. The morale in the squad is high. We’ve got a really good group although the majority of messages come through when I’m asleep as I’m nine hours behind a lot of the team.

During the winter the weather is perfect here, so I was able to get a really solid base of training in which allows me to be in good form early in the year and hit the ground running. I performed well in San Juan and the Ruta, so it was really disappointing the season had to come to a pause, but understandable.

With so much uncertainty in the race schedule I’ve been trying to have fun and also been on the mountain bike a lot to keep up my fitness levels. My coach, Inigo San Milan, has been great. He’s mainly advised me to just enjoy being able to ride outside and not worry too much about a structured training schedule.

As sportsmen it’s obviously important to stay fit but also keep the body and mind stress-free with the possibility of the racing calendar extending into November.

Me and my family are still healthy and we’re remaining positive about the whole situation. As long as we have our health, we are happy.

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Arabian Gulf League fixtures:

Friday:

  • Emirates v Hatta, 5.15pm
  • Al Wahda v Al Dhafra, 5.25pm
  • Al Ain v Shabab Al Ahli Dubai, 8.15pm

Saturday:

  • Dibba v Ajman, 5.15pm
  • Sharjah v Al Wasl, 5.20pm
  • Al Jazira v Al Nasr, 8.15pm
Saudi Cup race day

Schedule in UAE time

5pm: Mohamed Yousuf Naghi Motors Cup (Turf), 5.35pm: 1351 Cup (T), 6.10pm: Longines Turf Handicap (T), 6.45pm: Obaiya Arabian Classic for Purebred Arabians (Dirt), 7.30pm: Jockey Club Handicap (D), 8.10pm: Samba Saudi Derby (D), 8.50pm: Saudia Sprint (D), 9.40pm: Saudi Cup (D)

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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.”

JUDAS AND THE BLACK MESSIAH

Directed by: Shaka King

Starring: Daniel Kaluuya, Lakeith Stanfield, Jesse Plemons

Four stars