World No 1 and six-time Australian Open champion Novak Djokovic is wary of being watched. Kim Kyung-hoon / Reuters
World No 1 and six-time Australian Open champion Novak Djokovic is wary of being watched. Kim Kyung-hoon / Reuters
World No 1 and six-time Australian Open champion Novak Djokovic is wary of being watched. Kim Kyung-hoon / Reuters
World No 1 and six-time Australian Open champion Novak Djokovic is wary of being watched. Kim Kyung-hoon / Reuters

Australian Open: Novak Djokovic worries about 'Big Brother' cameras


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World No 1 Novak Djokovic has expressed concern about "Big Brother" surveillance cameras that capture behind-the-scenes footage of players at the Australian Open, making the season-opening grand slam tournament resemble a reality television show.

The cameras dotted around Melbourne Park, which show players walking the corridors and making their way to the courts, were introduced this year and are not seen at any other major.

Many of the candid clips have gone viral, with social media users amused when security guards asked high-profile players such as Roger Federer and Maria Sharapova for identification.

Others have been more personal, including Croatian 31st seed Petra Martic slumping to the floor and breaking down in tears after her third-round elimination.

Djokovic, who is chairman of the men's player council, said he had privacy concerns, particularly for women players who were moving between the recovery centre and the locker rooms.

But the Serb said if that issue was fixed he had to reluctantly accept the intrusion.

"That's the only thing I mind a little bit, you know. But other than that, you know, we live in Big Brother society. I guess you just have to accept it," he said.

Federer said tennis stars were now used to having their every moment captured on camera, although he did not appreciate intrusions on his down time.

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Former world No 1 Roger Federer concedes privacy has become a luxury. David Crosling / EPA
Former world No 1 Roger Federer concedes privacy has become a luxury. David Crosling / EPA

"Now it's just like everywhere all the time. It's hard to find the corner where you can actually sort of relax a bit, but I can deal with it. It's no problem," he said.

Serena Williams' coach Patrick Mouratoglou was a strong supporter of the cameras, saying showing the human side of players helped draw in a new generation of fans.

"If they root for a player or they hate a player, that's great, because they feel emotion when they watch tennis," he said.

"They need to know the players. All those behind the scenes [clips] that show the personalities of the players ... it's great to show they are human and they are not machines and they have emotions. They have good emotions, they have bad emotions."

Mouratoglou said tennis was a conservative sport but needed to move with the times to stay relevant and appeal to fans.

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.”

Like a Fading Shadow

Antonio Muñoz Molina

Translated from the Spanish by Camilo A. Ramirez

Tuskar Rock Press (pp. 310)

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