Ferguson blast hopes to hide United's shortcomings



Sir Alex Ferguson launched a blistering attack on referee Alan Wiley, accusing the official of "not being fit enough" to do his job. Wiley, the fourth official for last month's controversial Manchester derby, was in charge at Old Trafford yesterday as an injury-time own goal from Anton Ferdinand rescued United a point against Sunderland in a 2-2 draw. Ferguson claimed Wiley had not played the correct amount of added time because he had failed to add on an additional minute to the four already signalled once United scored. "I was disappointed with the referee," said the United boss. "He didn't add on any time for the goal. He played four minutes and two seconds. He was also walking up the pitch for the second goal needing a rest. He was not fit enough for a game of that standard. "The pace of the game demanded a referee who was fit. He was not fit. It is an indictment of our game. You see referees abroad who are as fit as butchers' dogs. We have some who are fit. He wasn't fit. "He was taking 30 seconds to book a player. He was needing a rest. It was ridiculous." Ferguson twice headed to the touchline during the second half to make his feelings known about controversial decisions. At one point, after he felt Anderson was denied a penalty, he jabbed his finger at fourth official Mike Dean and then pointed angrily to the pitch. Whatever the merits of Ferguson's argument, he will have succeeded in taking the spotlight away from his side, who were indebted to Patrice Evra's deflected shot after they had produced probably their worst performance of the season, with Ben Foster again at fault for the second-half header from Kenwyne Jones that looked like being the winner. "It was a soft goal to lose," admitted Ferguson. "Our passing was very poor in the first half. In the end we needed to show some great qualities to get something out of the game on a day when we played really badly." In front of the England coach Fabio Capello, who names his squad for the World Cup qualifiers against Ukraine and Belarus tomorrow, Darren Bent gave his side the perfect start, driving home his seventh goal of the season after just seven minutes. United created nothing in reply until after half-time when a brief flurry brought them level, Dimitar Berbatov finding the net with a magnificent overhead kick. The visitors rallied and Jones got above Foster to nod home Andy Reid's cross, a goal that seemed certain to gain Sunderland their first Old Trafford win since 1968. But the game turned when the former United winger Kieran Richardson was sent off for kicking the ball away, a decision that angered the Sunderland players, but not manager Steve Bruce. "It was stupid," said Bruce. "It is hard enough to defend here with 11 players. These things happen in the heat of the moment but it could have cost us the game." United used the dismissal to have one last assault at the visitors' goal, with Ferdinand the unlucky man as he deflected Evra's shot past Craig Gordon. "It is totally disappointing," said Bruce. "I don't know what the stat is for the number of times Manchester United have done that but it is what makes this club what it is I suppose. "It just proves you have to go down to the wire. Even when they don't play well, they always seem to get something out of it. "That is what he has brought to the club. They never give in."

* PA Sport

Leap of Faith

Michael J Mazarr

Public Affairs

Dh67
 

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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Villains
Queens of the Stone Age
Matador

UAE currency: the story behind the money in your pockets
Pakistan squad

Sarfraz (c), Zaman, Imam, Masood, Azam, Malik, Asif, Sohail, Shadab, Nawaz, Ashraf, Hasan, Amir, Junaid, Shinwari and Afridi

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MATCH INFO

Manchester City 1 (Gundogan 56')

Shakhtar Donetsk 1 (Solomon 69')

Short-term let permits explained

Homeowners and tenants are allowed to list their properties for rental by registering through the Dubai Tourism website to obtain a permit.

Tenants also require a letter of no objection from their landlord before being allowed to list the property.

There is a cost of Dh1,590 before starting the process, with an additional licence fee of Dh300 per bedroom being rented in your home for the duration of the rental, which ranges from three months to a year.

Anyone hoping to list a property for rental must also provide a copy of their title deeds and Ejari, as well as their Emirates ID.

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The specs

Engine: 6.2-litre supercharged V8

Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

Founder: Ayman Badawi

Date started: Test product September 2016, paid launch January 2017

Based: Dubai, UAE

Sector: Software

Size: Seven employees

Funding: $170,000 in angel investment

Funders: friends


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