Mahmood al Zarooni, right, the trainer, will send out Simon De Montfort tomorrow.
Mahmood al Zarooni, right, the trainer, will send out Simon De Montfort tomorrow.

Simon De Montfort fancied at Glorious Goodwood



Godolphin's Simon De Montfort features among a fascinating final field of 11 runners in the Gordon Stakes at Glorious Goodwood in England tomorrow. The King's Best colt won four times in France for Andre Fabre and will have his first start for Mahmood al Zarooni, the trainer, in the Group 3 contest. The famous royal blue silks will also be carried by the Saeed bin Suroor-trained Film Score.

Circumvent, Paul Cole's recent Newmarket winner, returns to Pattern company, while Dandino also steps up in class following impressive handicap wins at Epsom and Royal Ascot. Corsica, a multiple winner, is a major player for Mark Johnston, Aidan O'Brien sends Fencing Master over from Ireland and Jeremy Noseda saddles both Rebel Soldier and the Highclere Thoroughbred-owned Theology. The latter was beaten by just a nose in the Queen's Vase at Royal Ascot last time and Harry Herbert, the Highclere racing manager, is hoping for further improvement.

"He's in good form and we are looking forward to the race," Herbert said. "We still hope he could make up into a St Leger horse and we'll see how he gets on at Goodwood." Arctic Cosmos, Dubawi Phantom, and Very Good Day complete the field. Meanwhile, Marcus Tregoning feels the likely quick conditions could bring out the best in Sheikh Hamdan bin Rashid's Rumoush if she lines up in the Blue Square Nassau Stakes at Goodwood on Saturday. Having shaped with promise in the 1000 Guineas at Newmarket, the three-year-old ran a fine fourth in the Oaks at Epsom, finishing just over six lengths behind subsequent Irish Oaks winner Snow Fairy.

Tregoning is keen to have another crack at a Group 1 with the filly and feels next weekend's 10-furlong prize could be the ideal opportunity. "We'll have a look at the Nassau and there is a very dry week forecast, which will suit her," the trainer told At The Races. "It might not suit some of the older fillies like Midday and I'm sure the clerk of the course, Seamus Buckley, will produce good, fast racing ground.

"In my opinion our filly has been unlucky in both of the Classics. In the 1000 Guineas that draw did make a huge difference and I think if she was drawn on the right side we would have been placed. "We went to the Oaks with a favourite's chance but the race didn't work out for us either. "She deserves her chance in a Group 1 and I feel she'll win a very good race by the end of the year." Mick Channon is not planning to deviate from sending Youmzain straight to the Prix de l'Arc de Triomphe after yet another game effort from the veteran in the King George VI And Queen Elizabeth Stakes on Saturday. The seven-year-old, owned by Jaber Abdullah, the UAE businessman, was third behind Harbinger in the Ascot Group 1 - the third time he has been placed in the race.

Youmzain does even better at Longchamp in October, as he has finished second for each of the last three years behind Sea The Stars, Zarkava and Dylan Thomas. * Agencies

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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Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

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Suggested picnic spots

Abu Dhabi
Umm Al Emarat Park
Yas Gateway Park
Delma Park
Al Bateen beach
Saadiyaat beach
The Corniche
Zayed Sports City
 
Dubai
Kite Beach
Zabeel Park
Al Nahda Pond Park
Mushrif Park
Safa Park
Al Mamzar Beach Park
Al Qudrah Lakes 

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