New Zealand pay tribute to Diego Maradona before dealing out ruthless revenge beating to Argentina in Tri-Nations


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New Zealand thrashed Argentina 38-0 in a Tri-Nations test in Newcastle on Saturday to gain a measure of revenge for their stunning loss to the Pumas two weeks ago.

The victory ended New Zealand's first losing streak of more than one match – 24-22 against Australia then the shock 25-15 defeat to the Pumas – since 2011 and Argentina's fairytale run in the tournament after their first win over the All Blacks was followed by a draw with Australia last week.

Argentina and Australia both have six points and face each other in the final game of the tournament next weekend but it would need a remarkable scoreline for either side to overtake New Zealand, who have 11 points and a vastly superior points difference.

New Zealand captain Sam Cane said: "It is extremely satisfying. We have had a tough three weeks, The scoreboard doesn't reflect how hard the first hour was, the Pumas really showed their desire in their defence, but we didn't allow it to frustrate us.

"There is pressure but that is what playing for the All Blacks is all about. I thought we were a lot better tonight."

The Pumas had not played any test rugby for more than a year before they arrived in Australia but will still be disappointed to be held scoreless in a test match against the All Blacks for the first time.

Hooker Dane Coles scored the first try in the corner in the 12th minute and Richie Mo'unga added a penalty soon afterwards to give the All Blacks a 10-0 halftime lead, but the three-times world champions really opened up after the break.

Ardie Savea bulldozed over the line from an attacking lineout and replacement back Will Jordan scored two tries in three minutes off an Argentine error and an intercept before lock Patrick Tuipulotu blew out the score after the hooter.

The Pumas wore black armbands in memory of football great Diego Maradona and  Cane laid an All Blacks shirt emblazoned with the name of the Argentine star on the turf before the haka.

There was no sentiment from the New Zealanders after kick-off, however, as they went back to basics with set-piece dominance, hard running and judicious kicking to put sustained pressure on the Pumas.

Argentina made 10 changes to the side that drew with Australia last week which may account for a lack of fluency in some of the combinations and a string of handling errors.

Argentina captain Pablo Matera said: "We weren't clinical. I don't think the changes were the problem. The new guys brought a lot of energy, but there were many mistakes and handling errors from the whole team.

"We will have to watch the game again and do a lot of work this week to make a good game in our last game of the season against Australia."

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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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Sean Soriano (USA) bt Noad Lahat (ISR)
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Denis Tiuliulin (RUS) bt Juscelino Ferreira (BRA)
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Carrington Banks (USA) bt Marcio Andrade (BRA)
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Corinne Laframboise (CAN) bt Malin Hermansson (SWE)
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Jalal Al Daaja (CAN) bt Juares Dea (CMR)
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Mohamad Osseili (LEB) bt Ivan Slynko (UKR)
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