Alexis Sanchez launched another fusillade in Chile’s football feud with Uruguay after the South American champions were hammered 3-0 in Montevideo on Tuesday, saying the hosts were as bad winners as they were losers.
In a typically bad tempered encounter, four players from each side saw yellow and Al Wahda’s Chilean Jorge Valdivia was sent off after the final whistle, apparently for words said to Colombian referee Wilmar Roldan.
Arsenal striker Sanchez took to Instagram after the defeat, Chile’s first since winning the Copa America in July, to congratulate the Uruguayans.
He somewhat undermined his comments, however, by criticising them for a lack of grace.
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“You need to know how to win and how to lose and I speak when I win and when I lose,” he wrote.
“But what annoys me about past and present and other Uruguayan players ... is that they speak without acknowledging that they’ve lost.
“Today we lost and I congratulate them ... it’s goodbye from the champions of the Americas.”
In spite of the niggles from both sides on Tuesday there was no repeat of the skulduggery that marked the Copa America encounter between the sides.
Chile won that game 1-0 on their way to lifting the title for the first time but the match was overshadowed by the red cards shown to Uruguayans Edinson Cavani and Jorge Fucile.
Cavani reacted in the most innocuous of manners after Chilean defender Gonzalo Jara’s now infamous action. Fucile was sent off near the end for a tackle that was robust but not malicious.
Uruguay have harboured a grudge ever since, with centre half Diego Lugano threatening to teach Jara, who was also banned after an appeal, a lesson.
Lugano was left out the squad for the game and it was perhaps just as well as Uruguay’s three goals all came from defenders.
Godin got the first midway through the first half, Alvaro Pereira scored with a header in 61 minutes and Martin Caceres sealed the victory with another header three minutes later.
The win helped Uruguay to nine points in four games and their best start to a World Cup qualifying campaign since 1989.
Uruguay sit second in the table behind the runaway leaders Ecuador, while Chile are fifth in the 10-team table with seven points.
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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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Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
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Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
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The five pillars of Islam