Andy Murray, of Great Britain, returns the ball to Kevin Anderson, of South Africa, during their match at the Miami Open tennis tournament in Key Biscayne, Fla., Tuesday, March 31, 2015. (AP Photo/J Pat Carter)
Andy Murray, of Great Britain, returns the ball to Kevin Anderson, of South Africa, during their match at the Miami Open tennis tournament in Key Biscayne, Fla., Tuesday, March 31, 2015. (AP Photo/J PShow more

‘I hope there are a few more in my career’ Andy Murray says after joining the 500-win club



Andy Murray has put his mind to marching towards a new target of career victories after joining the 500 club in Miami on Tuesday night.

The British No 1 became only the ninth active player and 46th man in the Open Era to reach 500 wins when he beat Kevin Anderson in the fourth round of the Miami Open, triumphing 6-4 3-6 6-3 in just over two hours.

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Murray, 27, was presented with a special celebratory cake after booking a quarter-final meeting with Dominic Thiem, and he soon turned his thoughts to the next major milestone.

“There’s not a whole lot of people who’ve made it to 500 so it’s quite nice to do that,” he told Sky Sports News.

“I’ve put in a lot of hard yards and done a lot of work here. I hope it’s not the last win and I hope there are a few more in my career.

“I have a certain number in mind before I finish my career and hopefully my body can hold up.”

The third-seeded Scot fired down two aces while surviving 11 from South African Anderson, who exploited Murray’s faltering first serve to clinch the second set and force a decider.

Murray would ultimately triumph by converting four of 11 break opportunities.

The world number four told atpworldtour.com: “I played one bad game on my serve at three-love in the second set where I started rushing a little bit, which is a shame.

“I managed to get a break back and then made that second set a bit tougher for him.

“In the third set I created quite a lot of chances and opportunities and served better.”

Of last-eight opponent Thiem, a 21-year-old from Austria, he added: “He’s a very talented guy.

“I know him fairly well. I practice with him quite a bit. He’s very hard worker. Very good attitude. Very respectful guy.

“He’s got a very good career ahead of him, so I expect tomorrow will be a tough match.”

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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.”

Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
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