Gamilati given a rating of 120 after UAE 1000 Guineas win.
Gamilati given a rating of 120 after UAE 1000 Guineas win.

Gamilati given a rating of 120 after UAE 1000 Guineas win



Gamilati put in a better performance in capturing the UAE 1000 Guineas on Friday than did her stablemate Blue Bunting while winning the equivalent English race last year.

According to Timeform, the respected ratings service, Mahmood Al Zarooni's three-year-old filly is an English 1000 Guineas winner in waiting.

Gamilati's victory from fellow Godolphin runner Pimpernel and Alsindi attained a level of form in excess of the typical winner of the Newmarket race.

The winning distance of five-and-a-half lengths equalled the record set by Godolphin's Muwakleh, who went on to finish second in the British Classic in 2001.

Typically, Timeform rates a genuine Group 1 performer as any horse that achieves a rating of 115, but in winning the first Classic of the UAE season, a Listed race, Gamilati easily eclipsed that figure.

"I have the final say on her figure and although it isn't the most solid figure, 120 would be fair," said Stephen Molyneux, Timeform's Dubai handicapper. "If that trial had been run in England in April I have no doubt she would line up at Newmarket as the favourite. "The fillies division has been pretty weak for a while and Gamilati looks a Guineas winner already."

To put those figures into context, Blue Bunting achieved a figure of 117 when winning the English mile race last season. Blue Bunting's best effort in 2011 was the 122 figure she achieved when winning the Yorkshire Oaks. "Gamilati's win is in excess of what you would expect from a normal English 1000 Guineas winner," Molyneux said, adding that the best figure in the last decade was Finsceal Beo, who hit 123 when winning in 2007.

The average winner is normally below 120.

Blue Bunting was Godolphin's third winner of the English contest and provided Al Zarooni with his first Classic success.

The Emirati trainer looks likely to follow up at Newmarket in May as he also has Discourse, who beat Gamilati in England during the summer, and Lyric Of Light, who won the Group 1 Fillies' Mile in September as a substitute for Discourse, who was injured.

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Name: Hassan Mohsen Elhais

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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.”

In numbers

Number of Chinese tourists coming to UAE in 2017 was... 1.3m

Alibaba’s new ‘Tech Town’  in Dubai is worth... $600m

China’s investment in the MIddle East in 2016 was... $29.5bn

The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn

Boost to the UAE economy of 5G connectivity will be... $269bn 


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