Andy Murray, the world No 3, was at full stretch against Robert Kendrick in his first-round match.
Andy Murray, the world No 3, was at full stretch against Robert Kendrick in his first-round match.

Murray shoulders hopes of a nation



LONDON // Andy Murray was in no doubt as he prepared his powerful challenge for Wimbledon glory that he could not expect much help shouldering the massive weight of expectation of the home nation this year. The young Scot knew he was pretty much a solitary standard bearer but even he could not have envisaged being left to fly the British flag on his own so early in the Championships.

But for a last-gasp reprieve in the gathering gloom of Tuesday night provided by his fellow Scot Elena Baltacha there would have been a complete first-round wipe-out of Murray's supporting cast in the two main events. "It's not acceptable," said Murray in a bold shot at the bows of his governing Lawn Tennis Association as he was asked to comment on the casualty list of six Brits in a single day, making this their joint worst Wimbledon in the open era.

A Murray triumph on the final Sunday will, of course, transform that debacle into his country's best Wimbledon since Virginia Wade's 1977 women's singles triumph "Whether there are 10 Brits or one I have to take care of my own business," reflected the world No 3. There was a stage during his nervy Centre Court opener against American Robert Kendrick when Murray was in danger of not taking enough care of himself.

His anxiety transmitted to the home faithful sitting around the court and the hordes gathered on the rechristened Murray Mount - formerly Henman's Hill - after he allowed his 76th-rated opponent to draw level at one set all. The crisis was mercifully brief and Murray recomposed himself to go through in four sets and regroup for the tougher tasks ahead, beginning with today's encounter with Latvia's Ernests Gulbis, ranked two places higher than Kendrick on the world computer.

"I've got a very tough opponent next," said Murray, one of the most thorough players on tour when it comes to doing homework on rivals. "Gulbis has caused some upsets in the past and is a huge hitter of the ball. I'm going to need to be on my game to beat him." That means a considerable improvement is required from the level he reached against Kendrick but Murray is not fazed by that as he sets his sights on what would be a mouth-watering final against the five-time winner Roger Federer.

"I'd have to play some great tennis from now on to get there," he said. "Obviously I've got to win five more matches, and they're going to get tougher every round. "I know what I need to do to get there but I'm not going to start worrying about reaching the final just yet." Andy Roddick knows what it takes to reach a final here - he has lost two of them to Roger Federer - and the American looks set to go far again this year as he and the tall Argentine Juan Martin Del Potro look the most likely contenders to face Murray in the semi-final.

Roddick was well fancied to meet Murray in the final of the Wimbledon warm-up tournament at Queen's Club until retiring with an ankle injury midway through his semi-final against James Blake. He dismissed that fitness problem as "not worth talking about" after his opening-round victory over France's Jeremy Chardy. The sixth-seeded American looks to have an easier assignment today than the fifth-seeded Del Potro, who seeks to find away past the rejuvenated former champion Lleyton Hewitt in what is the pick of today's match-ups.

Hewitt was justifiably buoyant after making short work of the experienced American Robby Ginepri and the Australian enthused: "I was able to dictate when I wanted to. My serve picked up and I felt like I was in all of his service games, which was good. My rhythm's been good in practice. It's a matter of just keeping that going." Regarding his first meeting with the powerful Del Potro, Hewitt commented: "He's a class player. He was only a couple of points from maybe winning the French Open a couple of weeks ago.

"It's a different surface here and He hasn't had the best success on it. But, he's an all-court player and he's got a big game. It's going to be a good challenge." @Email:wjohnson@thenational.ae

LIST OF INVITEES

Shergo Kurdi (am) 
Rayhan Thomas
Saud Al Sharee (am)
Min Woo Lee
Todd Clements
Matthew Jordan
AbdulRahman Al Mansour (am)
Matteo Manassero
Alfie Plant
Othman Al Mulla
Shaun Norris

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

ROUTE TO TITLE

Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2

The Specs

Engine: 1.6-litre 4-cylinder petrol
Power: 118hp
Torque: 149Nm
Transmission: Six-speed automatic
Price: From Dh61,500
On sale: Now

Monday's results
  • UAE beat Bahrain by 51 runs
  • Qatar beat Maldives by 44 runs
  • Saudi Arabia beat Kuwait by seven wickets
SPECS

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

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.”

TWISTERS

Director:+Lee+Isaac+Chung

Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos

Rating:+2.5/5

Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.


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