Wenger praises Arsenal players' resolve after Ramsey's injury



After the disbelief of the horrific injury suffered by Aaron Ramsey, there is even more defiance and determination within the Arsenal camp. A siege mentality and a collective aim of winning the Premier League for the young Welshman is now obvious. As Ramsey recovers from the broken leg, sustained in last week's Premier League win over Stoke City, Arsenal take on Burnley at the Emirates Stadium, seeking the victory that will put them level on points with their London rivals Chelsea.

Arsene Wenger, the Arsenal manager, is convinced his side have the mentality to deal with the situation better than two years ago when a similar injury to Eduardo, their Brazilian striker, saw them falter in the latter part of the season. The Frenchman said: "The team are much more united and their resolve is stronger. "I find it remarkable that the players have dealt fantastically with these situations and always responded very well.

"They kept bouncing back, fighting and sticking together and that's why we are where we are." Wenger is also confident Ramsey "will come back to the level we have seen and I'm even more confident he will get better". But while he has lost one of his brightest talents, he will be hoping another can stay fit and flourish for the rest of the season. Injury problems have meant Theo Walcott has started only seven games all season.

To be without the England player for so long has frustrated Wenger. The feeling is been shared by Walcott, too. With the World Cup on the horizon and debate as to whether he deserves a place in Fabio Capello's England squad, this is a crucial period for him. "It's all about the present," said Walcott. "Hopefully I can play consistently for Arsenal, stay fit - that's the most important thing - and have a good end of the season."

With Arsenal in this mood, it seems very unlikely to see relegation-threatened Burnley adding to their only point away from home this season. Arsenal v Burnley, KO 7pm, Showsports 1 & 2

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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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