Jenson Button leads Felipe Massa and Sebastian Vettel during Sunday's German Grand Prix. The championship leader could only finish fifth in the race.
Jenson Button leads Felipe Massa and Sebastian Vettel during Sunday's German Grand Prix. The championship leader could only finish fifth in the race.
Jenson Button leads Felipe Massa and Sebastian Vettel during Sunday's German Grand Prix. The championship leader could only finish fifth in the race.
Jenson Button leads Felipe Massa and Sebastian Vettel during Sunday's German Grand Prix. The championship leader could only finish fifth in the race.

Button after improved Brawn pace


  • English
  • Arabic

Jenson Button has spelt out in blunt terms what his Brawn GP team need to do after allowing Red Bull to bite another chunk out of their championship lead. "We've got to beat the opposition in Hungary and that's what we are going to try and do," the Formula One title leader said after finishing fifth on Sunday at a German Grand Prix won by Australian Mark Webber.

"Let's pray that we are quick there because if we are not we've got a problem," added the Briton, who had thought a podium finish was within his reach at the Nuerburgring. Button leads Red Bull's Sebastian Vettel by 21 points, with Webber a further 1.5 points adrift, in the standings with eight of the season's 17 races remaining. After winning six of the first seven races, the Brawn driver has finished sixth and fifth in the last two as a result of struggling in low temperatures, which led to the Brawn cars not being able to generate heat in their tyres.

Red Bull, with both drivers now clear contenders despite the gap, have taken 24 points off Brawn in the last three races. Sunday was their third one-two of the season, and second in a row. "The problem we have is to get quicker," the Brawn team principal Ross Brawn said. "We are not quick enough and we have to respond. Because if we don't, we will throw the championship away." Button, whose car can be expected to go much better in Hungary's hotter temperatures after a damp and cold weekend, was concerned about the situation but not about to panic.

"We could shout at the team about improving things but they know what they've got to do. We've got to stay calm, put the improvements on the car and get every bit we can out of it," he said. "You have to worry but I don't think its 'Oh no, we're going to lose the championship'," he added. "Its 'Come on, let's make the difference'. "We've got some new parts for Hungary. I'm looking forward to that. I think our car will be strong there. We don't know how strong. We'll have to wait and see."

Webber's first Formula One victory, after three second places this season, put another name firmly in the reckoning as the third driver to win in a season turned upside down by new regulations. Button congratulated the Australian, a friend and former teammate from when he was at Benetton and Webber was the test driver, for finally making the breakthrough after 130 starts. "It puts another person in the mix doesn't it? Sebastian, Mark myself and Rubens [Barrichello], they are all closing in on me," he said.

"There are a lot of races to go so we do need to worry a bit. "These last two circuits have been frustrating for us because of the temperatures. If we are not quick on a hot track then we have got to really worry." Button can take some consolation that while both Red Bull drivers have been evenly matched, they are also likely to take points off each other while he has beaten team mate Barrichello in eight of the nine races so far.

"We've still got a 21 point lead so it's not that bad but if we continue like this we are not going to keep that lead," Button said. gcaygill@thenational.ae

The Details

Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5 

EMILY%20IN%20PARIS%3A%20SEASON%203
%3Cp%3ECreated%20by%3A%20Darren%20Star%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Lily%20Collins%2C%20Philippine%20Leroy-Beaulieu%2C%20Ashley%20Park%3C%2Fp%3E%0A%3Cp%3ERating%3A%202.75%2F5%3C%2Fp%3E%0A
The specs

Engine: 3.0-litre 6-cyl turbo

Power: 435hp at 5,900rpm

Torque: 520Nm at 1,800-5,500rpm

Transmission: 9-speed auto

Price: from Dh498,542

On sale: now

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.”

Sweet%20Tooth
%3Cp%3E%3Cstrong%3ECreator%3A%20%3C%2Fstrong%3EJim%20Mickle%3Cbr%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EChristian%20Convery%2C%20Nonso%20Anozie%2C%20Adeel%20Akhtar%2C%20Stefania%20LaVie%20Owen%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A