Al Wahda players celebrate with Sebastian Tagliabue, No 11, who scored all four goals in his team's 4-1 Arabian Gulf League defeat of Ajman at Al Nahyan Stadium in Abu Dhabi on April 11, 2014. Courtesy Al Ittihad
Al Wahda players celebrate with Sebastian Tagliabue, No 11, who scored all four goals in his team's 4-1 Arabian Gulf League defeat of Ajman at Al Nahyan Stadium in Abu Dhabi on April 11, 2014. CourtesShow more

Saeed spurs Sharjah to victory and third place in Arabian Gulf League



Sharjah moved up to third in the Arabian Gulf League with a 3-1 victory away at Baniyas on Friday.

A double by Yousif Saeed and a Ze Carlos strike meant Fawaz Awana’s late free kick for Baniyas was only a consolation.

Sharjah took an early lead on the road as Saeed found the net in just the sixth minute, beating the offside trap and rounding the goalkeeper to slot home.

In the 23rd minute, the hosts went 2-0 down after a poor kick from goalkeeper Mohamed Khalef was intercepted by Sharjah and the ball went to Ze Carlos, who made no mistake with his finish.

It took until the 82nd minute for Baniyas to pull a goal back, but it was worth waiting for as Awana curled a fine free kick into the top corner to reduce the deficit to 2-1.

But their hopes of an equaliser were dashed in the 90th minute as Sharjah put the result beyond doubt with Saeed’s second.

Sebastian Tagliabue stole the show by scoring all of Al Wahda's goals in a 4-1 home win over Ajman. The victory took them above local rivals Al Jazira and into the top four.

Wahda made the breakthrough as the tireless Tagliabue made a strong run before completing a precise cross-goal finish in the 41st minute. He made it 2-0 two minutes later, converting a cross.

Tagliabue wrapped up his hat-trick in the 65th minute. Three minutes later Ajman managed to pull a goal back, with Bakari Kone finding the net, but Al Wahda soon restored their three-goal advantage as Tagliabue headed in his fourth.

Dubai’s survival hopes were dealt a heavy blow as they crashed to a 5-1 defeat at home to Al Dhafra in the Arabian Gulf League’s Round 23.

A hat-trick from Makhete Diop and goals from Kamel Chafni and Abdulla Al Jaberi condemned the hosts to their 15th league defeat of the season, leaving them seven points adrift of safety with three games remaining.

Al Nasr came from a goal down to beat Dubai neighbours Al Shabab 2-1. Goals from Habib Al Fardan and Ibrahima Toure turned the result around after Edgar Bruno had grabbed the opener.

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Rating: 1/5

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Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

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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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