'Career-best' Novak Djokovic remains unbeaten in 2011

KEY BISCAYNE // Novak Djokovic declared himself in career-best form after trouncing the veteran James Blake 6-2, 6-0 in the third-round of the Sony Ericsson Open.

The No 2 seed Serb extended his winning streak to 22 consecutive matches. He has lost just three games in two matches at this tournament and his 20-0 start to 2011 is the best record to begin a year since Ivan Lendl started 25-0 in 1986.

"It has been a dream run for me the last couple of months," Djokovic said. "I'm playing the best tennis of my life."

Another man eyeing a career high is Mardy Fish, who moved within two wins of becoming America's top-ranked men's player after beating Richard Gasquet 6-4, 6-3.

Fish is ranked a career-best 15th in the world and is poised to overtake longtime friend Andy Roddick in the next rankings. Roddick lost his opening match on Saturday and is expected to drop from eighth to about 15th, the lowest he has been ranked since 2002.

"I certainly wouldn't feel like the top-ranked American, considering what Andy has accomplished and what I've accomplished," Fish said. "His career has quadrupled mine, at least."

Roddick is a five-time Grand Slam finalist who won the 2003 US Open and finished that year ranked No 1 in the world. Fish's record in major events is mediocre and he has made the top 20 in the year-end rankings only twice.

But at 29, Fish is in the best condition of his career. That showed against Gasquet in the hot midday sun.

"Playing out there today, you can see why you need to be fit to win these matches," Fish said.

Fish's next opponent will be Juan Martin del Potro, who is gaining momentum in his comeback from wrist surgery last May. The big Argentine earned his first win this year over a top-10 player by beating the No 4 Robin Soderling 6-3, 6-2.

Del Potro, ranked 484th in February, will climb back into the top 45 after the tournament.

"It's a long road to come back to being at the top again," the 2009 US Open champion said. "I'm improving very, very slowly."

Fish lost to Gasquet twice in 2008, including in the first round at Wimbledon, but the American has won their past two meetings - a reflection of his improved conditioning, he said. After undergoing knee surgery in September 2009, he changed his diet and lost more than 14 kilograms.

A slimmer Fish went 40-14 in 2010, a career high for victories, and finished the year ranked 16th, another career best. Willing to play longer points now that he's fitter, his shot selection is less risky, so he makes fewer unforced errors.

"I used to have to go for shots that I don't have to do anymore," he said.

Instead, it was Gasquet who made the big mistake - a double-fault on break point in the next-to-last game. Fish served out the victory at love to reach the round of 16, which matches his best showing in 10 appearances at Key Biscayne.

Fish has a 2-2 record against del Potro.

"In the fourth round, every player is playing really well," del Potro said. "So it will be a nice match for both of us."

David Ferrer, the No 6 seed of Spain also progressed, defeating India's Somdev Devvarman 6-4, 6-2.

In the women's draw, the No 2 seed Kim Clijsters earned her 500th career victory by beating Maria Jose Martinez Sanchez, 6-4, 4-6, 6-3.

Clijsters, who won the tournament in 2005 and 2010, advanced to the fourth-round despite 10 double-faults and 39 unforced errors. She plays the No 19 seed Ana Ivanovic next, who won when Virginie Razzano retired trailing 2-6, 6-2, 3-0.

Francesca Schiavone, the reigning French Open champion and the fifth seed, edged Lourdes Dominguez Lino 6-4, 7-6 (2). The No 9 seed Agnieszka Radwanska beat No 24 seed Maria Kirilenko 7-6 (2), 6-3.

RESULT

Bayern Munich 3 Chelsea 2
Bayern: Rafinha (6'), Muller (12', 27')
Chelsea: Alonso (45' 3), Batshuayi (85')

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.”

How to avoid crypto fraud

Use unique usernames and passwords while enabling multi-factor authentication.
Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
Avoid suspicious social media ads promoting fraudulent schemes.
Only invest in crypto projects that you fully understand.
Critically assess whether a project’s promises or returns seem too good to be true.
Only use reputable platforms that have a track record of strong regulatory compliance.
Store funds in hardware wallets as opposed to online exchanges.

In post-Saddam Hussein Iraq, hope turned into despair – but wheels are beginning to turn again

Bristol statue provides UK with a 'Saddam Hussein moment' in Black Lives Matter protests