Prandelli put on Red alert


Ian Hawkey
  • English
  • Arabic

How do you stop Fernando Torres on a run like this? Not, on the evidence of his last two weekends in the English Premier League, by packing the penalty box with opponents. He merely wiggles his hips and threads a way through. Torres scored two of his three goals against Hull City thanks to his combination of speed, nimble feints and tricks. The hat-trick brought his total for the last two games to five.

In Tuscany, meanwhile, in the two hours ahead of last Saturday night's derby between Livorno and Fiorentina, Cesare Prandelli, the Fiorentina head coach, learned that Liverpool, who play in Florence in the Champions League tonight, had thrashed Hull 6-1. Before he actually sat down on Sunday to scrutinise footage of the Anfield rout, he confessed: "I'm a bit more nervous after hearing that scoreline."

So might he be. The distance between Hull, 19th in the English top flight, and Liverpool, third in the Premier League, is almost a mirror of the gap between Livorno, 19th in Serie A by Sunday morning, and Fiorentina, whose three points took them to fourth. Where Liverpool, albeit at home, secured a five-goal winning margin, Prandelli's side won only 1-0, via a penalty after their goalkeeper Sebastian Frey had kept them in the match against a disgruntled, and perhaps unlucky Livorno.

What does that say about the Premier League and Serie A prior to the first Champions League clash of the season between their respective representatives? Look at Saturday's fixtures in isolation and you might draw the conclusion that the distance between the upper and lower ranks of Serie A, compared to their equivalents in England, may be tighter. But, as Prandelli knows all too well, the distance between the top clubs of the Premier League and the elite of Serie A has widened considerably over the last five years, to England's advantage.

Back in March, Arsenal, Manchester United and Chelsea knocked Roma, Inter Milan and Juventus out of the Champions League at the last 16 stage. A clean sweep. Fiorentina, as Prandelli recalls all too painfully, had fallen out of the competition a round earlier. Where, as recently as the late 1990s, teams from England would travel to anywhere in the Italian peninsula with dread and the burden of a terribly pessimistic set of precedents telling them how hard it was to win there, the switch since has been dramatic, with Liverpool prominent in shaping it.

The Anfield club had some epic contests with the Roma of Fabio Capello in the early part of this decade, famously reversed a heavy setback against Milan in the European Cup final of 2005, and have notched up memorable knockout triumphs in the Champions League, their favourite competition, against Juventus, when Juve were Serie A's top dogs, and Inter, while they were champions. Prandelli, whose team lost their first match in the group, away at Olympique Lyon, is reluctant to face Liverpool's firing cannons with a cautious posture.

"We are in front of our own fans and we won't think we are defeated before we go out there. Obviously a score like 6-1 plays on your nerves, but this is a different competition. It's the Champions League and that means you go in to it fired up, wanting to enjoy it and I'm prepared to take a few risks." With his centre-forward Alberto Gilardino, suspended after his red card at Lyon, Prandelli may risk Adrian Mutu, who is struggling for full fitness, from the start.

"I saw good signs against Livorno from Mutu that he is getting back to shape," said the coach. Ominously for the Italian side, Rafa Benitez, the Liverpool manager, said of Torres: "He can still get better than he is now, I think." As for the recent upheavals at Fiorentina, where president Andrea delle Valle stepped down last week, Prandelli felt they would not harm the team. "He [Delle Valle] has been in touch with us to wish us well and will be back at the stadium before long." The shoemaking millionaire relinquished his role following criticism from fans over the summer departures of players, such as Felipe Melo, but has said he will remain financially committed to a club he steered up the divisions from their bankruptcy crisis at the turn of the millennium.

ihawkey@thenational.ae Fiorentina v Liverpool, KO 10.45pm, Aljazeera Sport+4

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.”

The President's Cake

Director: Hasan Hadi

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

Rating: 4/5

Jawan
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EAtlee%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Shah%20Rukh%20Khan%2C%20Nayanthara%2C%20Vijay%20Sethupathi%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%3C%2Fp%3E%0A