UFC 273: Alexander Volkanovski dominates Chan Sung Jung to retain featherweight title

Alexander Volkanovski has warned his rivals he might have to move up to lightweight after proving he was “levels ahead” of his featherweight peers with a clinical title defence against Chan Sung Jung at UFC 273 on Sunday.

The champion, who has lost only once in 25 professional bouts, produced a stellar performance in the main event at the VyStar Veterans Memorial Arena in Jacksonville, Florida, to triumph by fourth-round TKO. Referee Herb Dean stepped in to stop the contest, with "The Korean Zombie" badly bloodied and bruised.

With a third successful title defence, Volkanovski took his undefeated streak to an incredible 21, while he is now 11-0 in the UFC since debuting in November 2016.

A trilogy bout with former champion Max Holloway seems the obvious next challenge – Chan was apparently a late replacement for the injured Hawaiian, whom Volkanovski defeated for a second time in Abu Dhabi in July 2020 – although the Australian said he would not wait around for anyone.

Next month, lightweight champion Charles Oliveira puts his belt on the line against No 1-ranked contender Justin Gaethje at UFC 274 in Phoenix, Arizona.

“I’m in a position where I can do a couple things,” Volkanovski told reports at the post-fight press conference. “And if this division don’t want to sort itself out and they’re all going to sit back and wait for [expletive], fine I’ll move up and fight at lightweight. I’m an easy champ to understand: take that No 1 spot you get that shot.

“If not, let’s move up. I think we’re in a good position to maybe move up. See what happens in this lightweight title fight and maybe move up. Because again I’m showing I’m levels ahead in this division.”

Asked about the weight adjustment from 145 lbs to 155 lbs, and whether he would need to seriously bulk up, Volkanovski said: “I don’t think I need to. I’m pretty strong for the featherweight division; I’m strong for the lightweight division, too. Most of my training partners are lightweights and welterweights anyway.

“People forget, I fought at middleweight. We talk about pound-for-pound, you’ve got to remember I’m undefeated at middleweight, my only loss is at welterweight. I’m undefeated in every other division. Look what I’m doing to some of these guys. I’ve fought at all different weights. We talk about pound-for-pound, it’s there, I’m showing you what I can do.

“Again, I’m owning that crown. So from now on, as I said last time I talked to you guys, ‘Bald Volk’ is coming for everyone. So lightweight division, watch out.”

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.”

UFC 273: Alexander Volkanovski dominates Chan Sung Jung to retain featherweight title

Australian champion takes the victory with a fourth-round TKO against 'The Korean Zombie'