Wladimir Klitschko says he plans to fight Britain's David Haye on July 2 but the Briton doubts the rival heavyweight champion will face him so soon after fighting his compatriot Dereck Chisora on April 30.
The Ukranian, appearing in New York, said he will fight three times this year and indeed defend his International Boxing Federation and World Boxing Organization crowns against the World Boxing Association champion Haye on July 2.
No venue has yet been set for the fight, Klitschko told New York's Newsday newspaper.
Klitschko, 55-3 with 49 knockouts, plans to fight Chisora in Germany just 63 days before he says he will meet Haye.
"It has been cleared that we will fight on July 2. We have the TV date, which is important," Klitschko told the newspaper.
"I don't want to wait too long because my last fight was in September. I want to stay active. I'm the champion so I'll take Chisora in April and David Haye in July."
No foe has been set for a third Klitschko fight, although he mentioned Polish fighter Tomasz Adamek as a possibility.
Haye, meanwhile, sent out a statement that spoke about a July 2 fight with Klitschko in the past-tense and said that he sees no way Klitschko will fight Chisora and Haye so close together.
"Klitschko claims he will fight both Chisora and I, but it's nonsense," Haye said. "Are we expected to believe that a fighter that competed only once in the whole of 2009 and twice in 2010 is now going to box twice in a matter of nine weeks?
"A bout with me is the most lucrative, meaningful and dangerous fight Wladimir has ever had, not some throwaway tune-up. Wladimir won't fight anybody nine weeks after Chisora, let alone me.
"I now need to look for a fight of my own beyond April. Presumably Wladimir is expecting me to fight in either May or June and then face him in early July. It's ridiculous."
Haye also warned there will be no second chances for Wladimir or his brother Vitali, the World Boxing Council heavyweight champion.
"If the fight doesn't happen now it never will. I'm done with the Klitschkos," Haye said. "I know I can retire later this year with my head held high, knowing I did everything in my power to make these fights happen."
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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