LIVERPOOL // Rather than the expensive attacker, the depleted defence was the deciding factor. Robin van Persie's Manchester United debut ended in a defeat that was attributable to a shortage of centre-backs as well as the hunger of an irrepressible Everton side.
The £24 million (Dh138.4m) signing had a cameo as substitute, attempting to retrieve a lost cause but United's bid to win a 20th title started with a setback.
Much as Everton outworked and overpowered their visitors, it was a match that came down to an individual battle. The makeshift defender Michael Carrick was no match for the man-mountain Marouane Fellaini and the Belgian headed Everton to a richly-deserved victory.
They were forceful and physical but also, in the smaller figures of Steven Pienaar and Leon Osman, neat and clever and creative.
Organisation and industry are trademarks of David Moyes' teams but they also subjected United to a bombardment that brought a belated reward when Fellaini scored. But for the brave defiance of David de Gea, Everton would have led earlier and United lost by more.
Instead, with a quarter of the game remaining, Ferguson sent for his deluxe substitute. Van Persie's first contribution was to take a corner but he could not inspire a fightback.
Despite drawing a blank, however, United's problems lay not in attack, but at the other end.
Four centre-backs were out injured and their downfall was advertised early on.
The danger of fielding two auxiliary defenders was highlighted when Fellaini spun away from Antonio Valencia and powered past Carrick before hitting the outside of the post.
From the off, the Belgian's intimidating presence provided United with problems at set pieces; from one, the diminutive figure of Pienaar almost looped a header in, the backtracking De Gea tipping over. The sprawling Spaniard tipped a shot from the South African and a Leighton Baines free kick wide.
His finest save, however, came when Fellaini knocked the ball down for Osman to connect sweetly with a half-volley.
The combination of the big Belgian and the little Lancastrian came still closer to bringing a breakthrough. Fellaini, as he did all evening, won a header. Osman reacted with a thunderous volley that rebounded back off the bar.
Then, finally, the pressure told. Darron Gibson, formerly of United, delivered a corner. Fellaini powered above Carrick and directed his header in. And then, as is their wont, Everton retreated and looked to hold on.
While possessing an impressive attacking armoury, United had mustered little until then.
Nani, in open play, and Wayne Rooney, from a free kick, both curled 20-yard efforts just past the post until the old Evertonian shot straight at Tim Howard on the turn.
Then Shinji Kagawa slid in Danny Welbeck who, stumbling as he shot, almost found the bottom corner.
Yet they were muted until Tom Cleverley beat Tim Howard but not the outstanding Phil Jagielka, who cleared off the line.
It was cue for Van Persie to make his bow. But there was no fairy tale start for him as United received a reminder that stopping goals is as important as scoring them.
sports@thenational.ae
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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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Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
