Andy Murray celebrates his victory over Dominic Thiem at the Madrid Open. AP
Andy Murray celebrates his victory over Dominic Thiem at the Madrid Open. AP
Andy Murray celebrates his victory over Dominic Thiem at the Madrid Open. AP
Andy Murray celebrates his victory over Dominic Thiem at the Madrid Open. AP

Andy Murray enjoys comeback win in Madrid Open after playing 'smart tennis'


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Former world No 1 Andy Murray stated he is feeling good about his game, and confident about returning to his best after a solid win over Dominic Thiem at the Madrid Open in what was his first match on clay in nearly two years.

Murray has spent several seasons dealing with hip problems and recovering from surgery in both 2018 and 2019. The British great hadn’t played on clay since the 2020 French Open.

Murray, who initially intended to skip the clay season, made a surprise appearance in Madrid after the hard-court Challengers he was planning to compete at were cancelled.

“I played smart tennis,” Murray said after the 6-3, 6-4 victory. “I used the serve-and-volley a little bit, used a drop shot, used different heights. Yeah, I did well considering, you know, when I did play.”

"I enjoyed it. I prepared really hard before coming here, worked hard and really wanted to go on and put a good performance out there and I feel like I did that."

Murray came to Madrid with a 10-8 record on all courts and hadn’t won more than two matches in his last six tournaments. He reached the Sydney final in January for his best result of the year.

Murray had only 13 unforced errors in the victory against Thiem.

“I felt very clear about how I wanted to play,” he said. “I have worked really hard the last four or five weeks, probably longer than that. Sort of before I went to Indian Wells, I felt like I was starting to become a little bit clearer with what I wanted to do and was therefore maybe more engaged in the practices and believing that I’m doing the right things.”

Murray plans on playing in the Spanish capital, as well as next week's ATP 1000 tournament in Rome before shifting his focus to next month's grass season.

Kevin Anderson announced his retirement from professional tennis on Tuesday. AP
Kevin Anderson announced his retirement from professional tennis on Tuesday. AP

Anderson retires

Meanwhile, former Wimbledon and US Open finalist Kevin Anderson announced his retirement on Tuesday aged 35, bringing to an end a career that showed immense promise but was derailed by injuries.

The big-serving South African achieved a career-high ranking of fifth in the world in 2018 before sliding out of the top 100 following a succession of knee, shoulder and ankle injuries.

"I've experienced so many different challenges and emotions, this sport can be exhilarating and at the same time lonely. I've had ups and downs, but I wouldn't change it for anything," he said in a statement on Twitter.

"My journey helped me become the man who I am today. Today I finally arrived at the difficult decision to retire from professional tennis.

"As a kid, my dad used to tell me that success isn't defined by results, but by the effort and sacrifice you make along the way in becoming the best you can be. I gave it my best."

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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Updated: May 03, 2022, 4:07 PM