Sheikh Hamdan's operation is in search of a European Classic win since Bethrah, ridden by jockey Pat Smullen (right, striped cap) won the 1,000 Irish Guineas in 2010. Getty Images
Sheikh Hamdan's operation is in search of a European Classic win since Bethrah, ridden by jockey Pat Smullen (right, striped cap) won the 1,000 Irish Guineas in 2010. Getty Images
Sheikh Hamdan's operation is in search of a European Classic win since Bethrah, ridden by jockey Pat Smullen (right, striped cap) won the 1,000 Irish Guineas in 2010. Getty Images
Sheikh Hamdan's operation is in search of a European Classic win since Bethrah, ridden by jockey Pat Smullen (right, striped cap) won the 1,000 Irish Guineas in 2010. Getty Images

Shadwell Racing could reap fruit of patience at Epsom


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It is four years since Sheikh Hamdan bin Rashid’s blue-and-white Shadwell Racing silks were last seen crossing the line to victory in a European Classic. Bethrah’s Irish 1,000 Guineas win in 2010 remains Sheikh Hamdan’s last major Group 1 winner.

Since he became champion owner in Britain in 1990 – the first time of four – never has he experienced such a drought at the top table in the northern hemisphere, with at least one horse securing honours at Group 1 level every year up to Bethrah’s success.

It is understandable that breeding and racing operations ebb and flow but for a man who, before this slump, had enjoyed nothing but success for the best part of two decades, it must be a frustrating period.

Yet, this could all come to a glorious end at Epsom tomorrow where Sheikh Hamdan will be represented in the English Oaks by Taghrooda and Tarfasha.

The duo are widely considered two of the best chances in the 2,400-metre classic and headed the final field of 17 after yesterday’s final declarations.

If one of those two fillies fails to prise open the gates to the winners’ enclosure, Sheikh Hamdan has ample opportunities to secure Group 1 honours later this month at Royal Ascot, which he is expected to attend for all five days.

There, at the world’s most lavish race meeting, Sheikh Hamdan has a strong chance of snapping the losing sequence with Soft Falling Rain, who worked at Newmarket racecourse this week in preparation for the Queen Anne over a mile on June 17.

Mukhadram, the Dubai World Cup runner-up, is slated for a clash with Treve in the Prince of Wales’s Stakes the following day, while Aljamaaheer, who was second in the Queen Anne last season, bookends the meeting on June 21 when he drops in distance to contest the Diamond Jubilee Stakes over 1,200m.

Sheikh Hamdan again was named champion owner at the end of the UAE season, and his trainers in Britain are sending out horses at a winning rate of 23 per cent.

With six of the top 20 juveniles, according to English rating service Timeform, in his stables it appears that the good times are just around the corner.

Angus Gold, who has Richard Hills ably assisting him in his role as racing manager to Sheikh Hamdan, was upbeat at the prospect of a strong European season.

“We have had three quiet seasons and this season is already better than the last three,” Gold said.

“I don’t think anybody could put their hand on their heart and say why we have had a few lean years.

“You are always looking for the Classic winners and the Group 1 winners; it is what the sport is all about. We have a better spread of horses this year, unlike in previous years when we have relied on a flag-bearer.

“When you are producing a lot of home breds there is always going to be a few quiet years.”

Of the six juveniles that have made Timeform’s cut, the four that have Gold dreaming of glory at Ascot include Mukhmal, who made the running from the worst draw at Chester a month ago and looks tailor-made for the Norfolk Stakes, the unbeaten duo of Adaay and Muhaarar, and John Gosden’s Kasb.

“This year’s two year olds are much the best lot I have seen since I have been here,” Gold said.

“When I first saw them in March they were – to look at and combined with their pedigree – much the best ever. And they are by the sires that give you a chance: Teofilo, Shamardal, Dansili, Oasis Dream and Dubawi.

“We have got more decent chances at this stage before the Royal meeting than we have had for a very long time.

“Ascot is the biggest stage; it is amazing how the meeting has grown.

“Everybody wants to have winners at Ascot, and with the Qataris now involved, it seems to have gone to another level.”

Gold joined Sheikh Hamdan’s racing operation in 1987 as it was really beginning to soar.

Shadwell Farm, in Lexington, Kentucky, had just been built; Queen Elizabeth’s exceptional brood mare Height Of Fashion had been acquired; and two years later Nashwan sliced through the British Classics with ease, picking up the English 2,000 Guineas, the Derby, the Eclipse Stakes and the King George VI and Queen Elizabeth Stakes.

With the considerable help of Hills, Gold oversees about 320 horses in Europe for Sheikh Hamdan, as well as horses in America, South Africa and those scheduled for Dubai.

Last season, Sheikh Hamdan had horses lodged with John Gosden, Mark Johnston, William Haggas, Marcus Tregoning, Richard Hannon, Sir Michael Stoute, Roger Varian, Brian Meehan, Charles Hills, Ed Dunlop and Mike de Kock in England, with Dermot Weld and Kevin Prendergast in Ireland and Jean-Claude Rouget, John Hammond, Freddy Head, Francois Rohaut and Carlos Laffon Parias in France.

That was in addition to the roster of trainers in Dubai. It is no wonder, then, that Gold needed Hills’s help with calling the trainers every day for updates.

Sheikh Hamdan and Gold speak almost daily by phone and Hills takes care of collating the feedback after each day’s racing from Paul Hanagan, who has been the retained rider since 2012 and is based in Newmarket, and Dane O’Neill, who is Hanagan’s deputy and is based 225 kilometres away in Lambourn.

Hills may no longer run four miles a day as he did when he was a jockey, but he rides out every day in Newmarket and, every two weeks, makes the trip to Lambourn with Hanagan to ride Sheikh Hamdan’s horses based in the area.

“I have a very good working relationship with Paul,” said Hills, looking no different to the day he hung up his boots.

“I don’t think he needs my advice or anything, but I think it is good to be able to talk through races – I used to talk to my brother Michael all the time. It is good to get another perspective on races, who is possibly going to be on the pace or whatever.”

Having Hills to provide his opinion after riding work puts Gold in a stronger position. In debates with trainers his words have greater gravitas and his updates for Sheikh Hamdan are more deeply informed.

Hills, who won the Oaks for Sheikh Hamdan in 2005 with Eswarah, has ridden Taghrooda in work and feels that she has all the qualities to provide Sheikh Hamdan with a third victory in the fillies’ Classic. The first was Salsabil in 1990.

“She goes about her work and is not flashy,” Hills said. “She only does what you ask of her.

“You get these horses that want to win every gallop but she’s much more laid back. She has won both of her races, which is all you can ask of her.

“People forget that Eswarah had only two runs before she won the Oaks. I never compare generations but she has done everything right, and is showing the right signs and feels right.

“She is a well-balanced and strong filly – you wouldn’t want to get a kick from her.

“At Epsom you need to travel. Lack of speed can put you into trouble and she has the right blend of speed and stamina.”

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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.”

JAPANESE GRAND PRIX INFO

Schedule (All times UAE)
First practice: Friday, 5-6.30am
Second practice: Friday, 9-10.30am
Third practice: Saturday, 7-8am
Qualifying: Saturday, 10-11am
Race: Sunday, 9am-midday 

Race venue: Suzuka International Racing Course
Circuit Length: 5.807km
Number of Laps: 53
Watch live: beIN Sports HD

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

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