Repeat performance in the offing for Sebastian Vettel

Who will be 2011 champion?
It is difficult to look beyond the Red Bull Racing drivers as the championship favourites as the car has looked so good in testing, both on long and short stints. I have a feeling that they still have not shown what they are capable of and we are not going to see that until this weekend's race in Australia.
Ferrari have looked good as well, but I think that the Red Bull has looked the stronger over a race stint and they will have a slight advantage in Melbourne.
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Also
. Five F1 champions, each dreaming of being No 1
. Pressure on Formula One debutants to make an impact in 2011
. Driver profiles of F1 teams for 2011 season
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McLaren-Mercedes were the other team, like last year, that I expected to be a factor at the front, but they look like they are off the pace from what I have seen in testing.
I would have to go for Sebastian Vettel to go on and repeat his success from last year and be champion for a second successive year for Red Bull.
He really impressed me with how he stepped up in the final races, and now that he has had that major breakthrough and won a title I expect him to only get stronger and he will be hard to beat this year in another good car.
Mark Webber has not won a championship yet and still has that hanging over him. He pushed Vettel hard last year and he will push him hard again this season and will win races, but he will have to settle for second best behind his German teammate.
Webber and Massa's chances?
I think Webber has a good chance of being close to Vettel; I mean, he almost won the world championship last year.
He let it slip in Abu Dhabi with a poor race and pit strategy and I still don't know why he was so off his game there, but generally he was always close to Vettel on the run-in, and drove a great race in Brazil.
It is important that he does not allow Vettel to get too much of a good start over him, but I do think he can be a factor in the championship hunt.
Felipe Massa, on the other hand, has a much harder task. He was well beaten by Fernando Alonso last year, and it has been Alonso who has been the quicker in all the testing I've seen.
I know Massa was recovering from the accident that sidelined him in 2009 and he had difficulties with the Bridgestone tyres, but he really was well beaten by Alonso.
I like Massa, but you do fear it is going to be more of the same for him this year, especially now that Alonso has had a full year to be settled at Ferrari, so I think he has a tall order for him to be fighting for the championship.
Who will cause a surprise?
I think Renault, Toro Rosso and Sauber have all made steps forward, but how much closer they are to the top teams is not clear.
Renault have got a new exhaust package and that has helped the chassis, but obviously the loss of Robert Kubica to the serious injuries he suffered in a crash in a rally in Italy is a big blow. He is a fantastic driver and was their leader and had a chance of race wins.
Nick Heidfeld is a solid substitute for Kubica, as the Pole recovers, and he will bring home plenty of points finishes, I expect.
The Toro Rossos look great in testing, particularly over long stints, and they look like they have made a big step forward, which should give Sebastien Buemi and Jaime Alguersuari the chance to show what they can do.
Sauber obviously made the headlines when Sergio Perez went quickest on one of the testing days in Barcelona. That time may have been done on low fuel, but you still have to be able to do the time and they do look in good shape.
Can the strugglers improve?
The Hispania Racing Team (HRT), given they have not being able to do any winter testing on their new car, are unlikely to progress much and I expect they will be at the back of the field again.
It was a bit concerning to hear Timo Glock say that he did not think that the Marussia Virgin team were where they wanted to be, and while there is no doubt they will have improved, it may well be they have not made a big enough step forward to catch the teams immediately in front of them.
Team Lotus look the team most likely to move up the order. They have certainly made the right noises in testing, and they will just be hoping to be reliable to ensure they can get some early finishes under their belt.
The one problem they face is that while they have progressed and should be more competitive, so have the cars that were immediately in front of them last year, like Toro Rosso and Sauber, so it is difficult for them, having to chase a moving target.
Team Lotus will be better, but whether it is enough for them to move forward up the order only time will tell.
Will new rules help the show?
The tyre situation is going to be a fascinating part of the season. There is quite strong degradation on the Pirellis and this means that the drivers have to be more considerate of how they drive to look after the tyres and prevent them from wearing quickly.
What you will see is the contrast in driving styles and the consequence that it has on the tyres.
At McLaren you have Jenson Button, who has a very smooth style behind the wheel, while his teammate Lewis Hamilton has a much more aggressive action, and it will be interesting to see if the Pirellis do suit Button more.
I am a little unsure on the rear wing, and am not sure the idea of designated spots to use it are going to work.
I am pleased that the FIA have said they are going to monitor how successful or not the scheme is and make adjustments as things go along.
The return of Kers comes after it was first used by some of the teams in 2009. Who can do the best job with it will be interesting, particularly at race starts.
McLaren probably had the best Kers system in 2009, but given the current concerns with the car and its competitiveness I don't think it is going to help them too much, other than at the start of races.

sports@thenational.ae

Johnny Herbert is a former F1 driver with three career victories. His column is written with the assistance of staff writer Graham Caygill.

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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