Ons Jabeur celebrates after beating Bianca Andreescu in the Wimbledon third round. AP
Ons Jabeur celebrates after beating Bianca Andreescu in the Wimbledon third round. AP
Ons Jabeur celebrates after beating Bianca Andreescu in the Wimbledon third round. AP
Ons Jabeur celebrates after beating Bianca Andreescu in the Wimbledon third round. AP

Ons Jabeur completes 'tough mission' to reach Wimbledon fourth round


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Ons Jabeur marked an "emotional" return to Wimbledon's Centre Court on Saturday evening by fighting back to defeat Bianca Andreescu in the third round.

The Tunisian sixth seed, who last played inside the stadium in last year's heartbreaking final loss to Elena Rybakina, needed to grind on her way to a 3-6, 6-4, 6-3 victory over former US Open champion Andreescu.

Jabeur, the first Arab woman to reach a Grand Slam final, struggled to find her best form, but with American great Billie Jean King watching on from the Royal Box, she still found a way to win after being outplayed in the opening set by the Canadian, whose variety flummoxed even the usually versatile Jabeur.

"I've got to thank the rain a little bit, letting me speak to my coach and having a better perspective about the match," said Jabeur, who also reached last year's US Open final.

"I didn't play my best tennis but I wanted to be more aggressive. I'm playing against a grand slam champion and she made the mission tough."

Jabeur, 28, regained some control with a serve break midway through the second set which enabled her to take the match into a deciding set.

Andreescu, who like Jabeur has a box of tricks up her sleeve, looked to have the edge again in the third set and was a break ahead but gave away her advantage with a double fault.

Rain began to fall and the match was halted while the Centre Court roof was slid across.

On the resumption, Jabeur had to work hard to hold serve, saving a break point, and she then picked the perfect moment to strike when she broke to love at 4-4.

She still had to serve it out, but did so calmly, sealing it with an ace, to move into a fourth-round clash against two-time champion Petra Kvitova — roaring with relief after match point.

"It was very emotional coming back here since a great final. It's my favourite court and I also love the crowd, the energy and how beautiful it is and hopefully I can come back and play more matches here," Jabeur said.

Asked about the presence of American trailblazer King, Jabeur said she had felt like asking her for advice.

"It was frustrating — her drop shots and slices were annoying and I now know what other players feel," she said. "Billie was watching and I swear I was going to turn to her and ask her what she would do. We need to talk please after."

In the final match of the day, Rybakina continued her title defence with a dominant victory over British hope Katie Boulter, wrapping up a 6-1, 6-1 win in just 57 minutes.

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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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Updated: July 09, 2023, 4:46 AM