Mohammed Tauqir took four wickets.
Mohammed Tauqir took four wickets.

Tauqir proves his worth in victory



KUALA LUMPUR // Mohammed Tauqir served notice that there are still plenty of miles left in his limbs as he bowled the UAE to an emphatic eight-wicket win over Bahrain in the ACC Trophy. The Emirati off-spinner is now one of the elder statesmen in a refreshingly youthful Emirates line-up at the Kuala Lumpur tournament.

He is 36 and playing in his seventh Trophy competition, but his haul of 4-19 against Bahrain was proof, if any were needed, that he remains one the country's most important cricketers. "I was very pleased I could contribute to this victory," said Tauqir, who landed the man-of-the-match award for his exploits. "I'm still pretty fit - I work on that a lot. I have played here in Malaysia lots of times, so I know the conditions.

"You still have to bowl the ball in the right area if you are going to perform well, and I was pleased I was able to do that. "Now we have a very important game [today against the tournament hosts Malaysia at the Selangor Turf Club]." Such a landslide win was the clearest indication that the UAE have rid themselves of the complacency which cost them a shock opening day defeat to Saudi Arabia - the lowest-ranked team in the competition.

Bahrain, by contrast, were buoyed by a massive 198-run success over the Saudis and justly felt they had a chance of upstaging the four-time champions from across the Gulf. However, their optimism proved misplaced following a meek middle-order capitulation. The collapse was brought about as much by adept captaincy from Khurram Khan as good bowling from Tauqir. Khurram used his experience at the Bayeumas Oval as he used his options well. Of the starting XI against Bahrain, nine bowl regularly for their domestic club sides, and Khurram knew exactly who to use and when.

Thanks mainly to a ferocious 47 from Imran Sajjad, Bahrain hinted that an upset might not be beyond them by racing to 90-2 inside 18 overs. Sajjad welcomed Riaz Khaliq, the UAE's new mystery spinner, into the attack by launching his very first ball for six - smashing a tile on the recently-laid pavilion roof in the process. However, Riaz was soon laughing the loudest, as he dismissed Sajjad to break the back of the Bahrain resistance.

With Tauqir wheeling away reliably at the other end, Khurram smartly juggled his aces, bringing back Zahid Shah to kill off the Bahrain tail. Faced with the UAE's quickest bowler - albeit a patched up Zahid, who was playing with a heavily-strapped left-hand after he split the webbing between finger and thumb in an earlier match - Bahrain subsided. They lost their final eight wickets for just 32 runs, leaving a victory target of a mere 123 which proved easy for the Emirates batsmen.

Arshad Ali, the player of the tournament at the last ACC Trophy, continued his affinity with Kuala Lumpur as he helped himself to an unbeaten 46. Rameez Shahzad was playing his first match of the tournament after only arriving the day before the game. He had been granted special dispensation to stay behind in Dubai to sit the final exam of his foundation course at Middlesex University. It looked like he had never been away, as he promptly crashed his first ball to the extra cover fence, as he notched up an attracting 29 not out.

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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.”

Results

2pm: Al Sahel Contracting Company – Maiden (PA) Dh50,000 (Dirt) 1,200m; Winner: AF Mutakafel, Tadhg O’Shea (jockey), Ernst Oertel (trainer)

2.30pm: Dubai Real Estate Centre – Maiden (TB) Dh60,000 (D) 1,200m; Winner: El Baareq, Antonio Fresu, Rashed Bouresly

3pm: Shadwell – Rated Conditions (TB) Dh100,000 (D) 1,950m; Winner: Lost Eden, Andrea Atzeni, Doug Watson

3.30pm: Keeneland – Handicap (TB) Dh84,000 (D) 1,000m; Winner: Alkaraama, Dane O’Neill, Musabah Al Muhairi

4pm: Keeneland – Handicap (TB) Dh76,000 (D) 1,800m; Winner: Lady Snazz, Saif Al Balushi, Bhupat Seemar

4.30pm: Hive – Conditions (TB) Dh100,000 (D) 1,600m; Winner: Down On Da Bayou, Royston Ffrench, Salem bin Ghadayer

5pm: Dubai Real Estate Centre – (TB) Handicap Dh64,000 (D) 1,600m; Winner: Lahmoom, Royston Ffrench, Salem bin Ghadayer

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5