Manny Pacquiao targets two fights in 2021 with Crawford, Spence and McGregor all in the frame

Manny Pacquiao is aiming to fight twice next year, but says he will not step back into the ring until April at the earliest.

The eight-division champion, who currently holds the WBA (super) welterweight belt, has not fought since July last year, with his 2020 plans derailed because of the coronavirus pandemic.

A sitting senator in the Philippines, Pacquiao's focus has understandably been on his political duties, with the Filipino telling the Daily Tribune in his homeland: "We still have sessions in March so there's no way I am going to fight during that time."

However, he added: “I think I can do two next year.”

Pacquiao’s absence from the ring still has not dampened speculation about when he will return, with a host of prominent names linked.

The Filipino, 42 this week, has been tipped to take on next either WBO champion Terence Crawford or IBF title-holder Errol Spence Jr, with both unbeaten fighters recently calling him out.

Additionally, there have been discussions regarding a crossover fight with UFC star Conor McGregor.

Both fighters are represented by Paradigm Sports Management, who last week told The National they were still working on the bout - with the "strong possibility" the clash could take place in the Middle East.

McGregor, though, is set to make his comeback to the UFC next month, against Dustin Poirier at UFC 257, with Abu Dhabi set to host.

Speaking of Pacquiao-McGregor, Paradigm’s founder and CEO, Audie Attar, said: “The fans want it and both fighters want it. It’s hard not to make it happen.

“Manny Pacquiao sees Conor McGregor as a real threat and a real formidable opponent. At the end of the day, I don’t see why it shouldn’t happen. As we saw in 2020, you can never count anything out any more, but right now the intention is for that to happen in 2021.”

On whether the UAE could host, Attar added: “There’s definitely interest from within the region; there’s interest from all over the world: Asia to America to this region.

“Ultimately, you can’t count the region out at all – a case in point is what they've be doing in all combat sports the past two years – the UAE, Saudi Arabia. So you can't rule out the strong possibility of it potentially taking place in this region.”

Pacquiao's most recent fight, his 71st, took place in Las Vegas, when he defeated the previously unbeaten Keith Thurman by split decision.

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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.”

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Manny Pacquiao targets two fights in 2021 with Crawford, Spence and McGregor all in the frame

Filipino has not fought since July last year and says he will not return to the ring until April at the earliest

While you're here

WHAT IS A BLACK HOLE?

The specs