The Bidone d’Oro, the Italians used to call it. A reference to the more famous Ballon d’Or, it translated literally as “the Golden Bin”, and that gives an indication of its purpose.
It was the footballing equivalent of the Golden Raspberry Awards, the unwanted prizes that precede the Oscars and highlight particularly awful acting performances, often by Sylvester Stallone.
Like the Razzies, the Bidone d’Oro was designed to laugh at the rich and famous.
This was not an exercise in humiliating a youngster who was out of his depth, or a lower-division player who had been promoted beyond his capabilities. Instead, the award winners were the struggling superstars, often Adriano, the gifted but maddeningly erratic Brazilian striker whose three “victories” made him the Stallone of Serie A.
To the relief of Italian football’s overpaid underachievers, the award – needless to say, never one that received official approval – has been discontinued.
Were it to be revived in England, the two prime candidates were at Anfield on Sunday. Fittingly, both began on the bench. Mario Balotelli and Radamel Falcao had cameos, one in a desperate search for an equaliser and the other in irrelevant fashion.
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These are players with pedigree. Falcao scored 155 goals in 200 games for his three previous clubs, FC Porto, Atletico Madrid and AS Monaco, and was the eighth-most expensive player in footballing history 12 months ago.
Balotelli decided a Euro 2012 semi-final against future world champions Germany. He was the most destructive, decisive player on the pitch in the Premier League's most extraordinary result, Manchester City's 6-1 win at Old Trafford in 2011.
He still possesses the same abundant ability but, three-and-a-half years on, has rarely shown the maturity an elite player requires.
If Balotelli does not have the mentality, Falcao lacks the mobility. The cruciate ligament injury he suffered last January seems, as was always feared, a chronic blow. The Colombian’s predatory instincts are still apparent when the ball comes within a yard of him, but it does so too infrequently.
His mentor said Falcao's plight at Manchester United has left him in tears. His appearance in the final few minutes of the 3-0 win against Tottenham Hotspur felt like a placatory gesture that was also patronising: the game was so easy that even Falcao could have a run out.
Yet Falcao’s 2015 performances, especially against QPR, West Ham United, Burnley and Preston North End, have been so wretched his removal from the team had the feeling of a merciful release.
Balotelli sometimes exerts influence as a substitute, especially against Tottenham and Besiktas, but the most telling statistic is that he has started just one of Liverpool’s last 31 games, which they lost.
Both Daniel Sturridge and Raheem Sterling rank ahead of him in the striking pecking order, even though the latter is not really a striker. Balotelli is the wild card, the joker in the pack, but too much of the amusement is at his expense. Liverpool do not trust him.
The common denominators are that he and Falcao have scored four goals apiece. Each represented a panic signing at the end of the transfer window, left on the shelf because others had wisely decided not to recruit them and brought in after other targets eluded United and Liverpool.
The best thing that can be said of United’s move for Falcao is that it was only on loan. If they pay the £43 million (Dh235.1m) to turn it into a permanent transfer, it really will be a sign that agent Jorge Mendes wields too much power in the corridors of Old Trafford.
Liverpool long ago decided that they want their relationship with Balotelli to be a one-season affair: the problem, especially for a club that struggles to offload unwanted players, is whether the Italian, whose reputation can deter past suitors, will attract a buyer.
United and Liverpool were English football’s two biggest spenders last summer, paying out a combined £269m in fees to acquire players. Falcao and Balotelli, at £22m between them, represented a comparatively small percentage of the outlay, but sizeable salaries reflect their past deeds.
They have a pedigree and a profile. Falcao was a guarantee of goals and Balotelli, in between his other antics, produced more telling contributions for each of his previous clubs.
Their position gives them a chance to score a redemptive goal, one that may help secure Uefa Champions League qualification or, in Liverpool’s case, the FA Cup, but their appearances will be rationed because of chastening failure, in recruiting the wrong players and seeing them underperform on the pitch.
If there was an English equivalent of the Bidone d’Oro, they would be the prime candidates.
Because, while it should be a source of sadness rather than mockery, each, in his different way, has been rubbish.
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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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