Sport

Raeaa W'rsan carries Wickham's weight of expectation

Racing returns to the capital tonight after last Sunday's meeting was abandoned for the first time since its inception in 1992 due to the waterlogged track.

Amith Passela
Amith Passela

December 20, 2009

ABU DHABI // Racing returns to the capital tonight after last Sunday's meeting was abandoned for the first time since its inception in 1992 due to the waterlogged track. The highlight of tonight's meeting is the ninth running of the Abu Dhabi Fillies Classic for three-year-old UAE-bred Purebred Arabians, the fourth race on the card starting at 6.30pm. It is a wide open contest with a host of newcomers in the 15-runner field. However, the renewal of rivalries between Jaci Wickham's Raeaa W'rsan, and the Rod Simpson pair, Lujian and Jowharat Al Asayl, should make for an interesting contest.

Raeaa W'rsan won by a length-and-a-quarter from Lujian two weeks ago in a seven-furlong encounter. With a furlong more to travel and with the jockey Daragh O'Donohoe in the saddle, Lujian carries Simpson's hopes. Simpson has the best record in the event, having won the prize three times, including Men Abu Dhabi's victory 12 months ago. Tadhg O'Shea retains the ride on Raeaa W'rsan, who has to concede a two-kilogramme all-round penalty as the only winner of a race.

The jockey said: "She is a nice filly. Obviously the penalty makes things more difficult but she should go well." The Emirati trainer, Ali Rashid al Raihe, on the back of a treble at Jebel Ali on Friday, sends out Monte Alto. The five-year-old gelded son of Danehill Dancer looks ready to break his duck from his seven UAE starts in the concluding race for thoroughbreds, a tricky handicap rated 75-100 run over 11 furlongs, which has drawn a maximum 14 runners. Envisage, Weald, Book Of Music and Detonator should also be considered.

Eric Lemartinel has some fancied entries with Albar Lotois setting the ball rolling in the opener, a maiden run over eight furlongs. The Akbar colt has not won in 18 starts but has finished second in his last three races in France before being brought over to the UAE. Raneet and AS Raid in the next two races and Ricardo in the fifth, could also provide the Frenchman with an early Christmas present.

apassela@thenational.ae

While you're here
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On Women's Day
Dr Afridi's warning signs of digital addiction

Spending an excessive amount of time on the phone.

Neglecting personal, social, or academic responsibilities.

Losing interest in other activities or hobbies that were once enjoyed.

Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.

Experiencing sleep disturbances or changes in sleep patterns.

What are the guidelines?

Under 18 months: Avoid screen time altogether, except for video chatting with family.

Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.

Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.

Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.

Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.

Source: American Paediatric Association

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.”

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
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TCL INFO

Teams:
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan

Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
Timeline October 25: Around 120 players to be entered into a draft, to be held in Dubai; December 21: Matches start; December 24: Finals