Tennis wrap: Friends up in arms



Best buddies Sam Querrey and Mardy Fish will have to put friendship aside for an hour or so after reaching the Queen's Club grasscourt final. The two big-serving Americans are the unlikely survivors for Sunday's final at the Wimbledon warm-up event after world No 1 Rafa Nadal, defending champion Andy Murray and Andy Roddick all fell early. Towering seventh seed Querrey was made to work hard by 34-year-old German Rainer Schuettler, eventually prevailing 6-7, 7-5, 6-3 in an entertaining scrap at the homely west London club just a few miles away from Wimbledon. The 22-year-old then watched the unseeded Fish beat eighth-seeded Spaniard Feliciano Lopez, conqueror of Nadal, 6-3 6-4 to set up the first all-American final here since Todd Martin beat Pete Sampras in 1994. Fish and Querrey have only met once before, in 2007 when the former won in straight sets. "It will be fun to play Mardy in the final," Querrey said after reaching the fourth final of an encouraging year for the Californian. "It's never easy playing a friend," said Fish who upset the locals on Thursday when he walked off court citing bad light in the deciding set of his match with Murray. "Whoever wins will just have to buy dinner."

World No 2 Roger Federer closed in on his sixth Halle Open title with a 7-6, 6-4 win over local favourite Philipp Petzschner in the semi-finals. Federer, knocked off the top spot by Rafael Nadal this week, will meet Lleyton Hewitt in the final after the Australian disposed of another German, Benjamin Becker, 6-7, 7-6, 6-2. It will be a first final for Hewitt since having hip surgery at the beginning of the year.

Maria Sharapova will have the chance to turn the tables on China's Li Na when they clash in the final of the Edgbaston grasscourt tournament. Sharapova beat American Alison Riske 6-2, 4-6, 6-1 in Saturday's semi-finals while top seed Li Na beat Aravane Rezai, the fourth seed from France, 6-1, 3-6, 6-3. "It'll be good to play her again," Russian Sharapova, who lost to the Chinese player in the semi-finals last year, told reporters. "A year makes a big difference. "I certainly don't like losing to the same person twice in a row - I'm a big competitor. I'm certainly going to try to turn that around." * Agencies

MATCH INFO

Mainz 0

RB Leipzig 5 (Werner 11', 48', 75', Poulsen 23', Sabitzer 36')

Man of the Match: Timo Werner (RB Leipzig)

Where to buy

Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com

TO A LAND UNKNOWN

Director: Mahdi Fleifel

Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa

Rating: 4.5/5

Results

Stage 7:

1. Caleb Ewan (AUS) Lotto Soudal - 3:18:29

2. Sam Bennett (IRL) Deceuninck-QuickStep - same time

3. Phil Bauhaus (GER) Bahrain Victorious

4. Michael Morkov (DEN) Deceuninck-QuickStep

5. Cees Bol (NED) Team DSM

General Classification:

1. Tadej Pogacar (SLO) UAE Team Emirates - 24:00:28

2. Adam Yates (GBR) Ineos Grenadiers - 0:00:35

3. Joao Almeida (POR) Deceuninck-QuickStep - 0:01:02

4. Chris Harper (AUS) Jumbo-Visma - 0:01:42

5. Neilson Powless (USA) EF Education-Nippo - 0:01:45

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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Label: Warner Records

Number of tracks: 11

Rating: 4/5

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Position: legal consultant with Al Rowaad Advocates and Legal Consultants

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L - Juventus, 2-0
D - C Palace, 2-2
W - N Forest, 3-0
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