Jose Mourinho feels a responsibility for Chelsea to perform at their ruthless best – perhaps in contrast to the rested Liverpool side that fell 1-0 to Real Madrid – in Wednesday night’s Champions League Group G clash at Maribor in an ominous warning to his hosts.
Mourinho insists he would never select a weakened team in anticipation of defeat, in a slight made towards Liverpool manager Brendan Rodgers.
Rodgers rested key personnel – including captain Steven Gerrard and playmaker Raheem Sterling – in losing 1-0 at European champions Real Madrid on Tuesday, but the Northern Irishman denied he was forfeiting the match.
Mourinho, whose side play at Anfield in the Premier League on Saturday lunchtime, said: “If Liverpool decide to rest players when they play against the European champions, it’s a question for the Liverpool manager – it’s not a question for me.
“I don’t speak about Liverpool. I speak about myself. If one day I go to a game and I don’t feel I can win, maybe I don’t go.
“Normally, against the most difficult opponents, normally I will try to go with my best team.”
Mourinho’s club beat the Slovenian champions 6-0 two weeks ago and know victory could seal their place in the last 16 with two games to spare, depending on the result between Sporting Lisbon and Schalke.
“I like this concept of going with a big club, full of big players to a country, a stadium, a city where normally they don’t come,” Mourinho said.
“To come here, to play here, I think we have responsibility to play for us and also to play for the people.
“I know they want to win – they don’t want us to win – but to play for the people is to play well, and to show what we can do, to show the quality players we have, to show the quality team we have.”
Mourinho, who is without striker Loic Remy (groin) and midfielder John Obi Mikel (knee), is taking nothing for granted against Maribor and described the Stamford Bridge result as “fake”.
He said: “The 6-0 win is a fake situation. Normally Chelsea to score goals needs a lot (of chances).
“Everything went in our direction. The first opportunity we had was a goal, the second one a goal, and so on.
“(But) I know they are a good team. I analysed them against Sporting and Schalke.
“I need to convince the players that the game at Stamford Bridge was one of these matches where everything goes in our direction.”
Meanwhile, Mourinho has admitted his criticism of Chelsea’s home support may have gone too far but was an emotional response tied to his affection for the club.
The manager said it felt like Chelsea were playing in an “empty stadium” for the first half-hour of last Saturday’s 2-1 win over QPR.
Supporters have responded in varying degrees of anger, bemusement and frustration – as well as agreement – to Mourinho’s jibe.
“This is not, for me, just a job. It it more than that, because it’s Chelsea,” Mourinho added.
“Maybe I go a little bit too far. But I see myself in the stands, watching Chelsea and I want to play, I want to help.
“If I’m not a player, I cannot play. If I’m not a coach, I cannot make decisions.
“If I’m just a fan, what can I do to help? That’s just my view.”
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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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