• Belal Muhammad celebrates his win over Takashi Sato at UFC 242 in Abu Dhabi. Chris Whiteoak / The National
    Belal Muhammad celebrates his win over Takashi Sato at UFC 242 in Abu Dhabi. Chris Whiteoak / The National
  • Belal Muhammad celebrates his win over Takashi Sato at UFC 242 in Abu Dhabi. Chris Whiteoak / The National
    Belal Muhammad celebrates his win over Takashi Sato at UFC 242 in Abu Dhabi. Chris Whiteoak / The National
  • Belal Muhammad lands a punch on Dhiego Lima in their welterweight fight during UFC 258. Zuffa LLC
    Belal Muhammad lands a punch on Dhiego Lima in their welterweight fight during UFC 258. Zuffa LLC
  • Belal Muhammad grapples Takashi Satō during their bout at UFC 242. Chris Whiteoak / The National
    Belal Muhammad grapples Takashi Satō during their bout at UFC 242. Chris Whiteoak / The National
  • Belal Muhammad submits Takashi Sato in a choke hold at UFC 242. Chris Whiteoak / The National
    Belal Muhammad submits Takashi Sato in a choke hold at UFC 242. Chris Whiteoak / The National
  • Belal Muhammad throws a punch at Takashi Sato during UFC 242. Chris Whiteoak / The National
    Belal Muhammad throws a punch at Takashi Sato during UFC 242. Chris Whiteoak / The National
  • Belal Muhammad grapples with Takashi Sato at UFC 242. Chris Whiteoak / The National
    Belal Muhammad grapples with Takashi Sato at UFC 242. Chris Whiteoak / The National
  • Belal Muhammad weighs in before his fight with Takashi Sato at UFC 242. Chris Whiteoak / The National
    Belal Muhammad weighs in before his fight with Takashi Sato at UFC 242. Chris Whiteoak / The National

Belal Muhammad and Sean Brady set for intriguing welterweight bout at UFC 280 in Abu Dhabi


John McAuley
  • English
  • Arabic

A bout between fast-rising welterweights Belal Muhammad and Sean Brady is the first reported match-up set for the UFC’s return to Abu Dhabi later this year.

The contest, initially reported by ESPN, is understood to have been added to UFC 280 – formerly UFC 281 – the pay-per-view event that takes place on October 22 at Etihad Arena on Yas Island. The UFC has yet to confirm any bouts on the card.

However, Muhammad, who has fought in Abu Dhabi before, appeared to confirm the match-up with Brady on social media at the weekend. The No 5-ranked welterweight, who is unbeaten in his past eight fights – seven wins and one No Contest – has made no secret of his desire to compete in the capital, telling The National in January that he would love to fight for the championship there in October.

“Honestly, it’ll be a dream come true,” Muhammad said. “It’s one of those things you’re always thinking about: 'I’m going to win the title, I’m going to be champion, but how can I be champion and where can I be champion?' And if it was over there in Abu Dhabi it’d be amazing.”

Muhammad, whose professional mixed martial arts record reads 21-3, has fond memories of Abu Dhabi having earned a submission triumph there against Takashi Sato at UFC 242 in September 2019. In his most recent UFC outing, in April, the American defeated Vicente Luque in Las Vegas via unanimous decision.

Meanwhile, Brady is to this point unbeaten in the pro ranks (15-0), with his last victory coming in November against Michael Chiesa. The unanimous decision win lifted his record within the UFC to five victories from five. Brady is the division’s No 9-ranked contender.

Both fighters, who have exchanged jabs on social media, will hope success in Abu Dhabi would lead to a title shot. Current champion Kamaru Usman defends his welterweight crown against Leon Edwards at UFC 278 next month.

UFC 280 represents the promotion’s first event in the capital since October last year. It marks the conclusion to Abu Dhabi Showdown Week.

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Young women have more “financial grit”, but fall behind on investing

In an October survey of young adults aged 16 to 25, Charles Schwab found young women are more driven to reach financial independence than young men (67 per cent versus. 58 per cent). They are more likely to take on extra work to make ends meet and see more value than men in creating a plan to achieve their financial goals. Yet, despite all these good ‘first’ measures, they are investing and saving less than young men – falling early into the financial gender gap.

While the women surveyed report spending 36 per cent less than men, they have far less savings than men ($1,267 versus $2,000) – a nearly 60 per cent difference.

In addition, twice as many young men as women say they would invest spare cash, and almost twice as many young men as women report having investment accounts (though most young adults do not invest at all). 

“Despite their good intentions, young women start to fall behind their male counterparts in savings and investing early on in life,” said Carrie Schwab-Pomerantz, senior vice president, Charles Schwab. “They start off showing a strong financial planning mindset, but there is still room for further education when it comes to managing their day-to-day finances.”

Ms Schwab-Pomerantz says parents should be conveying the same messages to boys and girls about money, but should tailor those conversations based on the individual and gender.

"Our study shows that while boys are spending more than girls, they also are saving more. Have open and honest conversations with your daughters about the wage and savings gap," she said. "Teach kids about the importance of investing – especially girls, who as we see in this study, aren’t investing as much. Part of being financially prepared is learning to make the most of your money, and that means investing early and consistently."

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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.”

Charlotte Gainsbourg

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Updated: July 12, 2022, 3:01 PM