Manchester United manager Louis van Gaal has said he hopes his team’s 3-1 home victory over arch rivals Liverpool will signal the end of their early-season difficulties.
United endured a testing start to the campaign, struggling for goals and facing criticism over their transfer dealings, and they went into the international break on the back of a 2-1 defeat at Swansea City.
But Saturday’s win over Liverpool blew off the cobwebs, with David de Gea back in goal following the collapse of his proposed move to Real Madrid and Anthony Martial netting a clinically taken debut goal following his £36 million (Dh204m) transfer from Monaco.
“I think in a difficult period like we had in the transfer period, with a lot of problems with players who are going and coming, it is always worse with Manchester United than the other clubs,” said Van Gaal, whose side climbed to second place in the table, five points below Manchester City.
“We have noticed that and I think we have managed that very well. We have qualified ourselves (in the Champions League), we have 10 points from five matches (in the league).
“That is a good record. There is only one club better and our aim is to be the best, but now we are five points behind Manchester City. We still look to that position, but I am happy.”
Richard Jolly: For one game, Anthony Martial lives up to expectations for Manchester United
Martial, a 65th-minute replacement for Juan Mata, struck four minutes from time, slicing towards goal from the left and turning Martin Skrtel inside-out before planting a shot inside the right-hand post.
The goal settled nerves after Christian Benteke had brought Liverpool back into the game with a magnificent overhead bicycle kick moments earlier.
United had gone 2-0 up in the second half courtesy of a smooth Daley Blind finish from a training-ground free-kick routine and an emphatic Ander Herrera penalty.
But Van Gaal was critical of his side for almost allowing Liverpool back into the match, declaring himself more satisfied with their controlled first-half showing and lamenting their failure to “kill the game”.
Martial’s strike, in front of the Stretford End, was a moment to savour for the home fans, but Van Gaal said that the 19-year-old French striker would have to brace himself for bumps in the road ahead.
“You cannot expect from players from this age that they have consistency,” the Dutchman said.
“You cannot ask that. You can ask that from (Bastian) Schweinsteiger and (Michael) Carrick, but not players of 19 and 20 and 21.”
Martial may not have long to wait for his full debut, however, with Van Gaal revealing that skipper Wayne Rooney is unlikely to play in United’s Uefa Champions League opener away to PSV Eindhoven on Tuesday due to what is reported to be a hamstring injury.
Rodgers laments Liverpool’s lack of creation
Van Gaal’s mood was in stark contrast to his opposite number Brendan Rodgers, who addressed journalists in a dejected whisper in his post-match media conference.
Liverpool have now conceded six goals in two games, following their 3-0 home defeat by West Ham United, and trail City by eight points.
“It’s five games in,” said Rodgers, whose side launch their Uefa Europa League campaign away to Bordeaux on Thursday.
“We haven’t created anywhere near as much as we would like. We have to go away with the coaches and the staff and see how we can find ways to be much more creative.
“We are still looking to find that way — and there’s players coming in — to get that balance in the team.
“This is the biggest game in this country, maybe in the world in terms of derby games. It’s an incredible game.
“I’ve been sat here when we’ve won 3-0 and it felt great. When you lose 3-1, you don’t feel so good.
“It is difficult for the supporters. We just have to go away, work harder and do better.”
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UAE currency: the story behind the money in your pockets
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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