Natasha Robinson, right, of the UAE scores a try during their match against Swiss Barbarians at the Dubai Rugby Sevens on Friday. Jake Badger for The National
Natasha Robinson, right, of the UAE scores a try during their match against Swiss Barbarians at the Dubai Rugby Sevens on Friday. Jake Badger for The National

UAE women earn country’s first win in trophy tournament at Dubai Sevens



DUBAI // After three years of meagre pickings, the UAE Rugby Federation finally had something to savour in its home competition on Friday: a victory in a trophy tournament.

It was the women who beat their male counterparts to it, too. As the sun set on The Sevens, out on Pitch 7, the UAE women beat the Swiss Barbarians 31-15 in their International Trophy pool encounter.

UAE teams have struggled for any morsels of cheer since the Arabian Gulf union was disbanded to make way for the single-nation entity at the end of 2010.

Initially, the men’s national team were trounced in the world series competition, leading to their automatic place in that event being revoked by the IRB.

They have fared similarly poorly since dropping down into the second-tier International Invitational competition last year, and they were heavily beaten in all their matches yesterday.

Commendably, all the Emirati male players were present to cheer their female colleagues to their victory over the Swiss — as were many other people involved with the domestic game.

The support was gratefully received.

“I have just said to the girls, this is what it feels like to be a winner — and it does feel pretty good,” said a tearful Aideen Butler, the UAE women’s team captain.

Natasha Robinson, 24, who has lived in the UAE for the past 22 years, scored four tries in the victory.

“There are some things I need to work on, but I was proud with the things I managed to do,” said Robinson, who was also the side’s standout player in the recent Asian Championships in India.

“My tackling was terrible, but after that I focused on my support play. But it is not an individual game.

“It is a great feeling to be successful with this team.”

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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.”

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Author: S Frederick Starr
Publisher: Oxford University Press
Pages: 290
Available: January 24

UAE athletes heading to Paris 2024

Equestrian
Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).
Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).

Cycling
Safia Al Sayegh (women's road race).

Swimming
Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).

Athletics
Maryam Mohammed Al Farsi (women's 100 metres).


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