LONDON // Tottenham Hotspur will not lose their cool like they did last season, manager Mauricio Pochettino pledged after his side overwhelmed Bournemouth to increase the heat on Premier League leaders Chelsea.
Spurs’ bid to pip Leicester City to the title last season came crashing down amid a flurry of bookings and suspensions following stormy draws against West Bromwich Albion and Chelsea.
But after watching his side defeat Bournemouth 4-0 at White Hart Lane on Saturday, Pochettino said his players had wised up.
"I think we've learnt a lot," said the Argentine, whose team closed to within four points of Chelsea ahead of the leaders' trip to Manchester United on Sunday.
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“There was a very bad period at the end of last season. We spent a lot of energy fighting against Leicester, but [also] against West Bromwich, against Chelsea, against the media, against the people.
“We fought against all and we spent a lot of energy. Now we’re focusing on fighting against our opponent when we play.
“We spend time and energy preparing ourselves to compete in the best way. It’s a big step for us.
“That was our challenge from the beginning of the season, to improve our mentality, our belief. I think you can see the group and the team improved a lot.”
Spurs often played after Leicester during last season’s run-in, but in recent weeks they have been in a position to put pressure on Chelsea by playing first.
Pochettino believes that has helped and he also flagged up former Leicester manager Claudio Ranieri’s recent comment that the whole world had been rooting for Leicester last season.
“If you win, it’s a big thing to put pressure on your opponent. Last season we never had the position to play before Leicester,” he said.
“Claudio Ranieri said, ‘The world was for us, trying to help Leicester.’
“Last season when I told you, [you thought] ‘This guy is a little crazy.’ Now that you hear from him, you can put [yourself] in my position and my players’ position.
“It was so, so difficult, because all the teams were trying to kill Tottenham. It’s impossible to understand why. But it was very good to hear that comment from Claudio Ranieri. It means a lot.
“Leicester fully deserved to win the title last season. But now I think you understand more our behaviour against Chelsea [when Spurs had nine players booked and lost Mousa Dembele to a six-game ban].
“Now you recognise the situation was so, so difficult for us.”
Spurs took an iron grip on the game against Bournemouth with two goals in the first 19 minutes from Mousa Dembele and Son Heung-min.
Harry Kane added a third early in the second half, his 20th goal of the league campaign, before substitute Vincent Janssen completed the scoring in stoppage time.
Spurs have won seven successive league games for the first time since 1967 and prevailed in 12 consecutive top-flight home games for the first time in the club’s history.
Bournemouth manager Eddie Howe was unable to provide an update on on-loan midfielder Jack Wilshere, who was forced off with an apparent ankle injury early in the second half.
With 35 points to their name, Bournemouth are within sight of safety, but Howe warned that there is still work to be done.
“We know we need more. We’ve known all along,” he said. “We’ve got five games to come. Our destiny’s in our own hands. The danger is everyone says, ‘You’re safe.’ It’s very difficult.
“We’ve got to focus the players’ minds that we’re not.”
Howe’s side were beaten 3-1 by Chelsea last weekend and although Howe would not pick between the top two, his admiration for Spurs was clear.
“They would be the team that we would aspire to be, in possession and out of possession,” he said. “They’re certainly a level above us at the moment, but that’s the aim.”
* Agence France-Presse
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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.”
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Mohammed bin Zayed Majlis
