Nigel Adkins, now at Reading, did well at Southampton but lost the faith of his former boss. Ian Kington / AFP
Nigel Adkins, now at Reading, did well at Southampton but lost the faith of his former boss. Ian Kington / AFP
Nigel Adkins, now at Reading, did well at Southampton but lost the faith of his former boss. Ian Kington / AFP
Nigel Adkins, now at Reading, did well at Southampton but lost the faith of his former boss. Ian Kington / AFP

Premier League: Questions for Adkins' Reading as they take on Southampton


Richard Jolly
  • English
  • Arabic

Perhaps Nigel Adkins is bitter. Perhaps he feels he was treated terribly. Perhaps he thinks that, as the Southampton manager with the best win percentage since the 19th century, he deserved much, much better than to be sacked after a run of only two defeats in 12 games.

But if he is, it would be out of character for him to say so.

The new Reading manager's persona is based on positivity. He relishes every challenge, learns from every experience and approaches every day with optimism.

He breezed into the Madejski Stadium, urging Reading to "dare to dream" and believe they could stay up when most others had consigned them to the Championship. Predictably, he does not deem it a lost cause.

Seven points from safety with seven games to go, few outsiders share his confidence. But few would have predicted that a man who was a physio in League One as recently as 2006 would become a Premier League manager, let alone for two clubs in the same season.

And, by a wonderful quirk of fate, they meet at the Madejski Stadium. Adkins's first home game as Reading manager is against Southampton, his former club.

The former Wigan goalkeeper, 48, says he does not hold a grudge. "We had a fantastic journey there and that can never be taken away," he said.

It is certain that he will be applauded by the Southampton supporters. There was no rebellion among the fans after his January sacking but many were unhappy that Adkins's achievements were not enough to keep him in a job.

"We had two-and-a-half years at Southampton," he said. "We were able to evolve the team and play some really good attacking football. We also won a lot of games and scored a lot of goals."

Nevertheless, as his successor, Mauricio Pochettino, quickly revealed, he had been studying Saints for weeks, before his arrival. In other words, Nicola Cortese, the chairman, had been talking to Adkins's replacement long before he got around to rubber-stamping his exit.

And yet, beneath the bonhomie, Adkins was realistic enough to know how precarious his position was.

Before November's game against Queens Park Rangers, he was calling it "el sackico", a joke that showed he was aware of the consequences if Southampton lost. They did not lose that day, winning 3-1.

Indeed, the fact Adkins left Southampton in the comparative safety of 15th place was because they beat Aston Villa twice, plus QPR, Reading and Newcastle United.

Their relegation rivals were defeated, even if no one else was.

It is there that Pochettino has had the opposite effect. Saints have struggled against their peers but overcame Manchester City, Liverpool and Chelsea, impressively and emphatically.

While they have adopted more of a high-intensity pressing game, however, the Argentine is building on the foundations Adkins laid, rather than ripping them up. "Nigel has my full respect for the job he did here," Pochettino said.

And, while Adkins may find himself back in the Championship at Reading, now he finds himself transported back six months. While now he is tipping his former club for a top-10 finish, then Southampton were setting the wrong sort of records, a team whose defending was widely derided.

Last week, in Adkins's debut as Reading manager, there were common denominators.

Arsenal won 4-1 and had 26 attempts at goal. The manner of the result ought to have been more demoralising than defeat itself. Southampton duly improved but Reading are running out of time to effect a recovery.

Adkins's teams, past and present, have fundamental differences. Southampton spent more after securing promotion but they also possessed a group of players with the ability to acclimatise to the Premier League.

Unlike their Reading counterparts, Rickie Lambert, Adam Lallana, Morgan Schneiderlin, Jack Cork and Jason Puncheon no longer look lower-league footballers.

But the ultra-ambitious Cortese could point out that two of Adkins's summer signings, Steven Davis and Jay Rodriguez, have delivered more for Pochettino. Cortese saw the switch as an upgrade. And so, much as Adkins denies it, this is his chance to prove him wrong.

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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.”