Nyquist took the first step out of American Pharoah’s shadow when he maintained his flawless record in the 142nd Kentucky Derby at Louisville on Saturday.
Nyquist took his record to eight wins from as many starts when he held on to beat the fast-finishing Exaggerator by a length and a quarter to become the first undefeated Derby winner since Big Brown in 2008.
Sheikh Hamdan bin Rashid’s Mohaymen could not contain Gunner Runner in the race for third, while UAE Derby winner Lani was ninth for Japan.
It was the second time that the combination of trainer Doug O’Neill, jockey Mario Gutierrez and owner Paul Reddam had won the Run For The Roses after I’ll Have Another in 2012.
• Geoffrey Riddle profiles Nyquist: The 'Lamborghini' backed to emulate American Pharoah
That colt went on to land the Preakness Stakes, and Nyquist is due to leave for Pimlico Racecourse on Monday in an effort to secure the second leg of the US Triple Crown over 1,900 metres.
“He’s just a special horse,” O’Neill told reporters. “This is the best horse that I have been around. This horse is so string and does everything so easy, and he’s just never tired. It doesn’t seem like we’ve ever really gotten to the bottom of him.”
Although it is unlikely, It is too early in the piece to speculate whether Nyquist will be able to stay the 2,400 metres of the Belmont Stakes on June 11 but he has displayed so far that he can deal with almost any situation.
“He has been able to win by five lengths, he has been able to win by a nose—that’s how I’ve had so much confidence in him,” Gutierrez said. “I know he’ll have something to respond.”
Nyquist emerged from his wide draw in gate 13 with clear daylight ahead of him after expected front-runner Danzig Candy broke poorly outside and had to be rushed up to take his position on the front end.
Gutierrez was happy to sit in behind as Danzig Candy set searing fractions. Heading in to the final turn Gun Runner slipped up the inside to take on Danzig Candy, which broke the long-time leader. At the top of the stretch, Nyquist made his bid for glory and could never quite be reeled in by Kent Desormeaux, who gave Exaggerator a little too much to do.
“I thought we had time to catch Nyquist,” trainer Keith Desormeaux said. “He had clear running room the entire (quarter-mile) stretch. I thought for sure we would catch him. I didn’t see where Nyquist was during the race until after it was over and he was right there on the pace. What a horse. I can’t respect that horse enough.”
Also on Saturday Breeders’ Cup Mile winner Tepin booked her ticket to Royal Ascot with a dominant performance in the Churchill Distaff Turf Mile under Julien Leparoux.
After the race trainer Mark Casse underlined that last year’s Eclipse Award winner is almost certain to ship for the royal meeting in June, especially with doubts surrounding the participation in the Queen Anne Stakes of defending champion Solow.
“I guess we better start figuring out how we do this,” Casse said. “I guess Royal Ascot here we come.”
KENTUCKY DERBY RESULTS
Position; horse; lengths
1. Nyquist
2. Exaggerator; 1 1/4
3. Gun Runner; 4 1/2
4. Mohaymen; 4 1/2
5. Suddenbreakingnews; 4 1/2
6. Destin; 6 3/4
7. Brody’s Cause; 9 1/4
8. Mo Tom; 10
9. Lani; 10 1/2
10. Mor Spirit; 14 1/4
11. My Man Sam; 14 1/4
12. Tom’s Ready; 16 3/4
13. Creator; 18
14. Outwork; 18 1/4
15. Danzing Candy; 19 3/4
16. Trojan Nation; 27 1/2
17. Oscar Nominated; 33 1/4
18. Majesto; 37 1/2
19. Whitmore; 38
20. Shagaf; DNF
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First Person
Richard Flanagan
Chatto & Windus
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Emiratisation at work
Emiratisation was introduced in the UAE more than 10 years ago
It aims to boost the number of citizens in the workforce particularly in the private sector.
Growing the number of Emiratis in the workplace will help the UAE reduce dependence on overseas workers
The Cabinet in December last year, approved a national fund for Emirati jobseekers and guaranteed citizens working in the private sector a comparable pension
President Sheikh Khalifa has described Emiratisation as “a true measure for success”.
During the UAE’s 48th National Day, Sheikh Khalifa named education, entrepreneurship, Emiratisation and space travel among cornerstones of national development
More than 80 per cent of Emiratis work in the federal or local government as per 2017 statistics
The Emiratisation programme includes the creation of 20,000 new jobs for UAE citizens
UAE citizens will be given priority in managerial positions in the government sphere
The purpose is to raise the contribution of UAE nationals in the job market and create a diverse workforce of citizens
JAPANESE GRAND PRIX INFO
Schedule (All times UAE)
First practice: Friday, 5-6.30am
Second practice: Friday, 9-10.30am
Third practice: Saturday, 7-8am
Qualifying: Saturday, 10-11am
Race: Sunday, 9am-midday
Race venue: Suzuka International Racing Course
Circuit Length: 5.807km
Number of Laps: 53
Watch live: beIN Sports HD
Things Heard & Seen
Directed by: Shari Springer Berman, Robert Pulcini
Starring: Amanda Seyfried, James Norton
2/5
MATCH INFO
Juventus 1 (Dybala 45')
Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')
Red card: Rodrigo Bentancur (Juventus)
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.”
Tree of Hell
Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla
Director: Raed Zeno
Rating: 4/5
Apple product price list
iPad Pro
11" - $799 (64GB)
12.9" - $999 (64GB)
MacBook Air
$1,199
Mac Mini
$799
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
MATCH INFO
Southampton 0
Manchester City 1 (Sterling 16')
Man of the match: Kevin de Bruyne (Manchester City)
My Country: A Syrian Memoir
Kassem Eid, Bloomsbury