Rafael Nadal will call time on his remarkable tennis career after Spain's Davis Cup tie against the Netherlands. AP
Rafael Nadal will call time on his remarkable tennis career after Spain's Davis Cup tie against the Netherlands. AP
Rafael Nadal will call time on his remarkable tennis career after Spain's Davis Cup tie against the Netherlands. AP
Rafael Nadal will call time on his remarkable tennis career after Spain's Davis Cup tie against the Netherlands. AP

Rafael Nadal insists focus is on Spain win in Davis Cup with retirement emotions being saved 'for the end'


Reem Abulleil
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Rafael Nadal hopes to save his emotions over his retirement until the end of the Davis Cup competition and says the focus remains on Spain’s upcoming quarter-final tie against the Netherlands.

Ahead of the final professional tournament of his career, Nadal and his Spanish teammates spoke to the press in anticipation of the hosts’ clash against the Dutch in Malaga on Tuesday.

“I am not here for retiring. I'm here to try to help the team,” Nadal said on Monday. “It's of course going to be my last week on the professional tour, but at the end, we are here in a teams competition.

“The most important thing here is to stay all focused on what we have to do, that is play tennis and to do it very well. Because the rival is going to be difficult, and the conditions are difficult too.

“So then the emotions are going to be for the end.”

Nadal, who will draw the curtains on a record-breaking career that has spanned nearly 23 years, has not competed in an official singles match since his second-round exit at the Olympics in July, where he lost to old rival Novak Djokovic in straight sets.

The former world No 1 has worked hard for the past six weeks to be ready for the Davis Cup but said it will ultimately be the decision of Spain captain David Ferrer on whether he will be playing in singles or doubles against the Netherlands.

“Of course when you are not competing very often, it's a little bit more difficult to hold the level on a constant basis, I’ve had good moments and more difficult moments. The improvement is there every day, but, I mean, we have a great team in Spain,” said Nadal.

“All these players on the tour are playing very well, having great seasons. It's the work of the captain to decide what he feels is better for the team.”

Ferrer says he hasn’t decided on his line-up for the quarter-finals and will reveal his selections on Tuesday ahead of the tie.

Nadal, who owns a 29-1 win-loss record in Davis Cup singles matches and an 8-4 record in doubles, has not competed in the inter-nation team competition since 2019, when he helped Spain win a sixth Davis Cup title.

He is joined by reigning Roland Garros and Wimbledon champion Carlos Alcaraz, Roberto Bautista Agut, Pedro Martinez, and Marcel Granollers on Spain’s squad this week.

Nadal’s body has been ravaged by injuries throughout his career, but particularly during the past two years, which has led him to make the decision to hang up his racquet, admitting he is unable to sustain a competitive level on tour.

“I achieved the most important thing for me, because I arrived to this day and I am in peace that I gave all that I had,” said Nadal.

“I’m going to leave this professional tour with the calm and with the personal satisfaction that I gave my best almost in every single moment.”

Nadal said he is “not worried” about the next chapter of his life and that he must “accept the process” of experiencing this significant change.

Djokovic, Nadal’s fiercest rival, has said he plans on being in Malaga for the Spaniard’s final tournament. Asked if Roger Federer will be making an appearance, Nadal said: “I didn't talk to Roger. I think Roger has a busy schedule.

“This is going to be my last week on the professional tour, but I don't think it’s going to be my last goodbye. So there’s going to be other chances to do something.”

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: November 18, 2024, 11:46 AM