Pitcher is injury doubt as Rockies take on world champions


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The MLB play-offs begin tonight with two National League games as the defending World Series champions Philadelphia host Colorado and St Louis visit the Los Angeles Dodgers. Just as they did in 2007, the Rockies open the play-offs in Philadelphia as the hottest team in the National League. Only this time, they might be without the hottest pitcher in the game.The lefty Jorge De La Rosa, who went 16-3 after losing his first six decisions, will test his tight left groin to see if he is fit to play in the best-of-five series. His injury has left the Rockies' rotation in limbo.

Their manager, Jim Tracy, is only committing to his young ace Ubaldo Jimenez, whose 100 mph fastball is likely to give the Phillies plenty of trouble tonight. Two years ago, the Rockies overcame the Phillies as they put up a 21-1 record on route the World Series. But now it is Philadelphia who are expected to progress. "You're playing the defending world champions, a team that's got a lot of confidence, a team that knows how to win," said the Colorado closer, Huston Street. "But we're coming in playing good baseball."

"I think we were more consistent this year," said the Rockies' shortstop, Troy Tulowitzki. "In '07, we made a run at the end that no one had ever seen before, and we just appeared in the play-offs. But this year we're a better team all the way through." In the other game, Chris Carpernter will be on the mound for St Louis. He won 17 games for the Cardinals this year an is a strong contender for the Cy Young best-pitcher award.

For the Dodgers, manager Joe Torre is chasing his fifth World Series after leading the New York Yankees to four titles. His team had a five-game losing streak just before the end of the season, but tonight's starting pitcher, Randy Wolf, is not worried. "We've wobbled a little bit, but for us to avoid that we just have to play our game," he said. "The last two games were big for us to show we had that fight."

sports@thenational.ae

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THE SPECS

Engine: 4.4-litre V8

Transmission: eight-speed automatic

Power: 523hp

Torque: 750Nm

Price: Dh469,000

EMIRATES'S%20REVISED%20A350%20DEPLOYMENT%20SCHEDULE
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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

On sale: Now

Price: From Dh117,059

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.”

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
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