Lewis Hamilton has enjoyed consistent success at the Abu Dhabi Grand Prix. Mark Thompson / Getty Images
Lewis Hamilton has enjoyed consistent success at the Abu Dhabi Grand Prix. Mark Thompson / Getty Images
Lewis Hamilton has enjoyed consistent success at the Abu Dhabi Grand Prix. Mark Thompson / Getty Images
Lewis Hamilton has enjoyed consistent success at the Abu Dhabi Grand Prix. Mark Thompson / Getty Images

Yas Marina Circuit reminds Lewis Hamilton of a karting track


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ABU DHABI // One of the sharpest tools in Lewis Hamilton’s armoury, one that has helped him become a triple world champion in Formula One, has been his ability to bounce back from periods of adversity.

He demonstrated that last year when he overcame a 29-point deficit in the championship standings, surviving various incidents of mechanical unreliability along the way, to win his second world title, one he secured at the Etihad Airways Abu Dhabi Grand Prix.

The Briton on Thursday gave an example of how he deals with disappointment as he claimed to have forgotten who won the inaugural race at the Yas Marina Circuit, in 2009.

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Hamilton was driving for McLaren, six years ago, and led the race until brake problems slowed him and forced him to retire. To considerable amusement from the media during a news conference, the Mercedes-GP driver was unable to recall that it was Sebastian Vettel who had taken advantage of his setback to win.

Turning to a bemused Kimi Raikkonen, who won the 2012 race, Hamilton said: “You won the first race didn’t you?”

When the Ferrari driver shrugged his shoulders, Hamilton added: “I’m thinking you might have won the first race maybe.

“Someone won the first race after my car failed, but it was a great experience.”

Whether Hamilton was genuinely forgetful or he is not interested in remembering races that do not go to plan, the good times in Abu Dhabi have been more numerous than the bad.

He won here 12 months ago in his title showdown with Mercedes-GP teammate Nico Rosberg, also prevailed in 2011, finished second in 2010, and has twice started from pole position.

As to why he goes well on the 5.5-kilometre track, he said the layout of the venue works well for his approach to racing.

“I know this is a bit like a karting track,” he said. “There’s a lot of late braking and bouncing off kerbs and really having to throw the car around.

“It works for an aggressive driving style, I guess and, yeah, I’ve had some great experiences here.”

Hamilton sealed his third world title in the United States last month, meaning he enters the weekend with the pressure off, unlike last year, when he needed to finish at least second in the final race to guarantee the championship.

He handled that situation with aplomb: he dominated to win the race and the title, and he is hoping for another happy ending on Sunday as he bids for a 44th career race win.

“You always have a good finale here, you’ve got some good battles, the weather’s always fantastic and the fans are great,” he said.

“I had an amazing [conclusion] here [in 2014] and I’m here to try to do something similar.”

Hamilton has won 10 times this season, but has not stood on the top step of the podium since winning the championship in Austin, Texas, at Circuit of Americas.

He has been beaten into second place at the past two races by teammate Rosberg in a change of fortunes from earlier in the season, when Hamilton consistently had the edge over the German.

He said the United States Grand Prix, when he secured the championship, has been the highlight of his year.

“It has been the best year of my career and I’m in a very fortunate position, a lot of great work done by my team,” he added.

“Probably one of the best races for me was Austin, obviously, the pinnacle of the year for me.”

Hamilton will look to have that winning feeling one more time in 2015. Just do not expect him to remember much about it if things do not go his way.

gcaygill@thenational.ae

Follow us on Twitter @NatSportUAE

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Grand slam winners since July 2003

Who has won major titles since Wimbledon 2003 when Roger Federer won his first grand slam

Roger Federer 19 (8 Wimbledon, 5 Australian Open, 5 US Open, 1 French Open)

Rafael Nadal 16 (10 French Open, 3 US Open, 2 Wimbledon, 1 Australian Open)

Novak Djokovic 12 (6 Australian Open, 3 Wimbledon, 2 US Open, 1 French Open)

Andy Murray 3 (2 Wimbledon, 1 US Open)

Stan Wawrinka 3 (1 Australian Open, 1 French Open, 1 US Open)

Andy Roddick 1 (1 US Open) 

Gaston Gaudio 1 (1 French Open)

Marat Safin 1 (1 Australian Open)

Juan Martin del Potro 1 (1 US Open)

Marin Cilic 1 (1 US Open)

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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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When: Wednesday, kick off 7.30pm

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The WEF study said there had been some improvements in wage equality in 2018 compared to 2017, when the global gender gap widened for the first time in a decade.

But it warned that these were offset by declining representation of women in politics, coupled with greater inequality in their access to health and education.

At current rates, the global gender gap across a range of areas will not close for another 108 years, while it is expected to take 202 years to close the workplace gap, WEF found.

The Geneva-based organisation's annual report tracked disparities between the sexes in 149 countries across four areas: education, health, economic opportunity and political empowerment.

After years of advances in education, health and political representation, women registered setbacks in all three areas this year, WEF said.

Only in the area of economic opportunity did the gender gap narrow somewhat, although there is not much to celebrate, with the global wage gap narrowing to nearly 51 per cent.

And the number of women in leadership roles has risen to 34 per cent globally, WEF said.

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