India's captain Virat Kohli bats in a nets session on Wednesday ahead of their first Test match against South Africa in Mohali. Adnan Abidi / Reuters / November 4, 2015
India's captain Virat Kohli bats in a nets session on Wednesday ahead of their first Test match against South Africa in Mohali. Adnan Abidi / Reuters / November 4, 2015

Virat Kohli eager to put stamp on India and ‘go up the ladder’ in Test cricket



Virat Kohli has an opportunity to establish himself as India's long-term leader.

The stylish batsman, considered dynamic by some and brash by others, will lead India in their first home Test series of the post-Tendulkar era against top-ranked South Africa.

“We’re a young side looking to go up the ladder in Test cricket and so this series is special for us,” Kohli said Wednesday, the day before his 27th birthday and the eve of the first Test of a four-game series. “It’s an exciting day captaining my first game at home and being my birthday doubles up the excitement.”

Read more: Osman Samiuddin on India's spin v South Africa's pace and what to watch for in the Test series

Kohli has brought in his own brand of aggression and helped fifth-ranked India get a rare Test series win in Sri Lanka recently, coming back from 1-0 down to win 2-1.

Kohli made it clear he will be looking to win Test matches against top sides by playing an extra bowler rather than beefing up the batting like other Indian teams.

“Test matches are always won by bowlers. Batsmen will extricate the team once in a while or help chase a target, but more often than not, bowlers will be putting you in a position where you are chasing a small total,” Kohli said.

Kohli said his attitude has not changed much after taking over the captaincy and he believes in giving freedom and responsibility to players as he shepherds a young team after MS Dhoni’s retirement from Tests.

“I’ve not come up with a set of rules. The whole idea is if you want to take a team in a certain direction, you have to give them freedom of expression. You have to give them room to grow as cricketers, let them make mistakes and learn themselves,” Kohli said.

Kohli, who once came out to bat at a crucial juncture of a domestic match after his father’s death and then went back for the cremation, has grown in international cricket, scoring 2,794 runs in 37 Tests with 11 centuries. In the current batting line-up, Kohli has the most Test caps.

Team director Ravi Shastri said he feels the team has a bright future with Kohli at the helm.

“He’s going along beautifully,” Shastri said ahead of the series. “I thought the Sri Lankan win was a real test of character of the boys and he himself rose to the occasion. The average side of the team is 25-26 years, the captain is about the same age and there are plenty of years ahead.”

Shastri feels it will be a big learning curve for Kohli and his teammates as they take on a team that is balanced and known to perform well abroad.

“The best thing that is happening to them is that they are up against playing the best team. It’s good to play the best team in the world early because that’s when you learn the maximum,” Shastri said.

India recently lost a three-match Twenty20 series 2-0 and a five-match ODI series 3-2.

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Gulbadin Naib (captain), Mohammad Shahzad (wicketkeeper), Noor Ali Zadran, Hazratullah Zazai, Rahmat Shah, Asghar Afghan, Hashmatullah Shahidi, Najibullah Zadran, Samiullah Shinwari, Mohammad Nabi, Rashid Khan, Dawlat Zadran, Aftab Alam, Hamid Hassan, Mujeeb Ur Rahman.

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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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