Landon Donovan and his teammates on the US national team have had a lot more to celebrate of late.  Jamie Sabau/Getty Images
Landon Donovan and his teammates on the US national team have had a lot more to celebrate of late. Jamie Sabau/Getty Images

United States football team no longer a 'project'



Five national football teams secured places at the 2014 World Cup on Tuesday night. Among them, the tournament regulars Italy, Argentina and the Netherlands. Not as prominent and perhaps overlooked in much of the world was another qualifying team - the United States.
The Americans will participate in their seventh consecutive staging of the world's biggest team sports event. Only Brazil, Germany, Italy, Argentina, Spain and South Korea have a longer run of successive appearances.
The appearance that kicked off the US run, in 1990, came after 40 years away from the World Cup, a gap when nearly all Americans considered football a strange, foreign sport enjoyed almost entirely by recent immigrants.
The 1990 team, which included only one professional, played at Italia '90 primarily because Mexico had been banned from Concacaf qualifying for using over-age players in a youth competition. Since then, the US has been an ever-present, something England, Uruguay, France and Portugal, among many other prominent footballing nations, cannot claim.
It was in 1998 that the US Soccer Federation commissioned Carlos Queiroz, the former Portugal coach, to author a plan entitled Project 2010, the year targeted for when the US would be a viable contender for the Jules Rimet Trophy.
The paper was considered an audacious, almost laughable, notion in 1998, but the US reached the final 16 of South Africa 2010.
Viable World Cup champion?
The US is not there and may find it impossible any time soon to crack the old-boys club of Brazil, Germany, Italy, Argentina and Spain. But another quarter-final run, like that of 2002, may be coming soon.
The current batch of American senior players, coached by Jurgen Klinsmann, has proven to be resilient and resourceful, if not quite technically gifted.
These Yanks are much like their predecessors: known for a high work rate, unselfishness and a willingness to ignore hopeless positions - perhaps because they still are not savvy enough to know when they are beaten.
Tactically, they are gaining ground. In a home game against Mexico last night, they allowed the desperate visitors to exhaust themselves in 30 minutes of pressure, scored a pair of second-half goals and qualified for Brazil with two games in hand.
This from a team with perhaps three recognisable names in its home country - Clint Dempsey and Tim Howard, for their time in England, and Landon Donovan, the leading scorer in US history.
Granted, the US path to the World Cup is not strewn with the obstacles found in Europe or Africa, or even Asia.
Concacaf has three automatic berths and the fourth-place team in the final group stage can qualify by winning a two-legged tie with New Zealand, the Oceania champion. Realistically, that should yield a fourth Concacaf bid for a continent with only three nations of dependable quality: the US, Mexico and Costa Rica.
Mexico might suggest Concacaf is tougher than it looks. The two-time quarter-finalists, who have been World Cup regulars since the 1990 ban and whose attackers include Javier Hernandez and Giovani dos Santos, find themselves fifth in the group with two matches left.
Observers of North American football can vouch for this: playing for the national side is more important to its footballers than are club achievements. That seems to have been reversed in several European countries, such as England, to the detriment of the national effort.
Should Mexico founder, allowing Honduras and Panama into the mix, perhaps the seven-for-seven steadiness of the US might come into sharper focus.
In a nation where "soccer" remains, at best, the fourth-most-popular sport, enough talent is being grown or, sometimes, recruited from countries where the US military left behind sons (the current side has four German-Americans) that the concept of Project 2010 turns out to have been ambitious but not ludicrous.
poberjuerge@thenational.ae

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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Conservative MPs who have publicly revealed sending letters of no confidence
  1. Steve Baker
  2. Peter Bone
  3. Ben Bradley
  4. Andrew Bridgen
  5. Maria Caulfield​​​​​​​
  6. Simon Clarke 
  7. Philip Davies
  8. Nadine Dorries​​​​​​​
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  11. Chris Green
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  13. Andrea Jenkyns
  14. Anne-Marie Morris
  15. Sheryll Murray
  16. Jacob Rees-Mogg
  17. Laurence Robertson
  18. Lee Rowley
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  20. Martin Vickers 
  21. John Whittingdale
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