PARIS // Rafael Nadal is bracing himself for another Wimbledon letdown as he prepares to rekindle his love-hate relationship with the All England Club.
The 28-year-old Spaniard stormed to a ninth French Open triumph on Sunday with a 3-6, 7-5, 6-2, 6-4 win over Novak Djokovic which also secured his 14th grand slam crown.
But he is not optimistic about collecting a 15th major when Wimbledon gets under way on June 23 despite having been champion on two occasions.
His first title in 2008 was followed by a knee injury-enforced absence 12 months later.
In 2010, he was Wimbledon champion for a second time before finishing runner-up to Djokovic the following year.
Things then got steadily worse with a second-round exit against Lukas Rosol in 2012 sparking a seven-month absence from the tour as his knee problems flared up again while, in 2013, he was dumped out in the first round by Belgian journeyman Steve Darcis.
That was the only time Nadal has ever exited a grand slam in the first round.
“I am going to Halle on Monday [for the grasscourt warm-up event in Germany]. I want to try to play well at Wimbledon again,” Nadal said.
“I am healthy, that’s the most important thing. I hope my knee will have a positive feeling on grass because I felt my knee was better last year on the other surfaces.
“Grass is always a little bit harder for me after injury. I played Wimbledon in 2012 with my knee injury and I never played another match after. Last year I tried but I was not ready enough to compete.
“Let’s see how are my feelings this year because it’s a very important tournament.”
After his loss to world No 135 Darcis last year, Nadal came under pressure to skip future grasscourt seasons if he wanted to prolong his career.
One of those urging him to rethink was three-time Wimbledon champion Boris Becker who has since gone on to join Djokovic’s coaching set-up.
“He definitely has to consider whether grass has a future for him,” Becker said at the time.
“Grass is very different compared to the other surfaces. Your movement is different and you have to have healthy legs because you’re changing direction, you’re slipping and sliding.
“If you have a knee problem, grass is the worst surface. Hard courts are not as bad because you have a firm position, you can put your foot down and stand up to hit the ball – the bounce is higher so you don’t have to bend as low.”
Even Nadal admits he is unsure over how he will fare in Halle, where he is top seed after skipping the tournament last year.
“I know probably the result will not be the perfect one because the days of preparation are not the right ones. And after how tough the match was today physically, I will be more tired.”
Nadal, who has pulled level with Pete Sampras on 14 majors and now stands just three off the all-time record held by Roger Federer, also believes his fifth successive French Open win was the sport’s payback for his loss to Stan Wawrinka in the the Australian Open final.
Again, his challenge was hobbled by injury – this time by back trouble.
He said that his rollercoaster form in the pre-Roland Garros claycourt season, when he lost three matches for the first time in a decade, was a direct result of that shattering loss in Melbourne.
“Stan played amazing, I don’t know if I would have been able to beat him. But I didn’t compete in that match and that was hard to accept.
“I had a few months where I went down mentally. I was fighting but didn’t feel strong enough. But for the last month, I had my motivation and positive feelings on court again.”
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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.”
Killing of Qassem Suleimani
RACE SCHEDULE
All times UAE ( 4 GMT)
Friday, September 29
First practice: 7am - 8.30am
Second practice: 11am - 12.30pm
Saturday, September 30
Qualifying: 1pm - 2pm
Sunday, October 1
Race: 11am - 1pm
Company%20Profile
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The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
The%20Emperor%20and%20the%20Elephant
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PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani