Kiradech Aphibarnrat will take a two-shot lead into the final day of the Shenzhen International, but knows he should have a much bigger cushion after a disastrous close to his third round on Saturday.
The burly 25-year-old Thai, who started the day at 8-under par, was 15-under with a six-shot lead over playing partner Peter Uihlein of the US by the time the pair stood on tee at the par-5 17th.
Kiradech pulled his driver left into a fairway bunker. His third found more sand at the greenside and a poor splash shot left a 20-footer for par. The putt slid three feet past and he inexplicably missed a simple one back to record a double-bogey seven.
Meanwhile, Uihlein was enjoying some outrageous good fortune. He hooked his drive even further left than Kiradech but a ricochet off a golf cart and the path upon which it was parked catapulted his ball so far forward he could go for the putting surface with his second.
Despite coming up short of the green, a chip and a confident 18-footer for birdie meant the lead was suddenly reduced to three strokes.
Again Kiradech was wayward on 18 and failed to get up and down from right of the green as Uihlein tapped in for par.
Kiradech signed for a 4-under par round of 68 and a 12-under total of 204 but his lead over Uihlein, who had led overnight by one, was down to two shots.
“The way I played 16 holes was great golf today,” said Kiradech after his round. “It was a mistake on the 17th, the bogey putt. I think it was like too easy, just knock it in, but that’s golf.”
He admitted he may have got complacent with such a big lead after trailing Uihlein by a stroke overnight.
“After great shots on 15 and 16 I was thinking the game is done,” he added. “I missed a couple of putts, but I’m still in great shape.”
Uihlein wasn’t happy with his day’s work despite a tidy finish to a round of 71. “I just made too many sloppy bogeys. Four bogeys is a bit rough,” he said.
The round of the day belonged to 19-year-old Chinese No 1 Li Haotong, who thrilled the spectators at Genzon Golf Club in the southern Chinese city with a 7-under par 65 to rise into a share of eighth place on 209.
It was matched only by Spain’s Pablo Larrazabal, who took sole possession of third place with a total of 9-under 207 after his own 65.
Li, the world No 189, was playing for the third day running in the vaunted company of fourth ranked Bubba Watson, but he comprehensively outshone the double Masters champion who stuttered to a 2-over 74 after both started the day at even par.
Kiradech has shown good form this year, finishing in the top six at the US PGA Tour’s Arnold Palmer Invitational in March. Now he wants to add to his sole European Tour victory which came at the 2013 Malaysian Open.
“I’ll try to do the same thing tomorrow. Get the score low and get the job done,” he said. “I made a bad finish, but after I go to sleep tomorrow is a new day.”
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Brief scores:
Everton 2
Walcott 21', Sigurdsson 51'
Tottenham 6
Son 27', 61', Alli 35', Kane 42', 74', Eriksen 48'
Man of the Match: Son Heung-min (Tottenham Hotspur)
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● Company: Bidzi
● Started: 2024
● Founders: Akshay Dosaj and Asif Rashid
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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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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Empire of Enchantment: The Story of Indian Magic
John Zubrzycki, Hurst Publishers