The interior of the new VW Golf. Courtesy Volkswagen
The interior of the new VW Golf. Courtesy Volkswagen

Road Test: 2013 Volkswagen Golf



You don't have to be an athletic football player to deliver sustained excitement, just as long as you play a good, long game.

And there is no doubt that, more than any other car, the Volkswagen Golf has staying power. Now 38, it has again been under the surgeon's knife in an effort to remain young.

In 1974, the original car's designers hit on something amazing: Volkswagen created automotive democracy with a car that appealed equally to men and women, the wealthy and the working class, hipsters and rednecks, and so on. While you might hazard a prediction at the type of person driving the BMW in front, you could never do this with a Golf.

The launch of the seventh edition comes just four years behind the last, equally evolutionary model. But evolution isn't necessarily a bad thing, although those who like to see wholesale changes will always be disappointed. Given its pedigree, Volkswagen was never going to "throw an XJ" by wildly reshaping the vehicle while maintaining its age-old nameplate.

Indeed, this latest Golf is perhaps even more like the original than its predecessors, with many of the Mk1's design cues accentuated, such as the exaggerated chevron trail of the C-pillar, which more than anything heralded the car's signature appearance.

The new look consists mainly of designers' tweaks, meaning that observers will be hard-pressed to describe in detail the differences between this and the last model.

The addition of lower shut lines and higher wheel flares gives the new car a lower centre of gravity that is further enhanced by an additional 59mm of badly needed wheelbase - the previous model had the shortest in its class. A wider and lower frame also adds to this planted look.

While outdoor finish quality is a given with a Volkswagen, the new car's interior is a revelation. Gone are the days of boxy black plastics and fabrics as bland as a Russian breakfast. Indeed, Golf interiors have come a long way, to the point that even the base trim is decidedly premium. It's as if VW is trying to out-Audi with its inside appeal.

The fascia is as slick as the male protagonist in a bodice-ripping yarn, with plastics that look more like veneers, and buttons, switches and stalks that have both feel and thunk. Even the lowest trim line comes with a five-inch TFT screen and all sorts of electronic gubbins far beyond what you would expect.

Cars for the Middle East come with a high spec and, if you tick all the options, you'll find things like adaptive cruise control, emergency braking, fatigue detection, lane assist, auto park assist and progressive variable-rate steering.

At the moment, there is no 1.6L engine or GTI variant, but these will be coming next year. In the meantime, we tested the all-alloy 1.4L TSI unit, which weighs 40 per cent less than the old iron-block it replaces.

Indeed, VW engineers have reduced the Golf's weight by almost 100kg compared to its predecessor. The new single-turbo engine is simpler and lighter than the turbocharged-supercharged unit on the Golf6, meaning that the lower power rating of 140hp - 20hp down on the previous edition - only equates to a drop of 0.4 seconds on the 0-to-100kph dash, which it can make in 8.4 seconds.

The new Golf is not designed to be blistering to drive, and you'd be ill-advised to rev it high. On the flip-side, a sizeable well of low- and mid-range torque comes in reserve, to the tune of 250Nm, which gives plenty of pull.

The new, lighter, multi-link rear suspension is exceptionally polished and the optional Dynamic Chassis Control piles on additional sophistication to a ride that is already an improvement over the Golf6.

What's more, it is quiet, the steering is responsive and there is an excellent amount of room around the comfortable and supportive seats. VW has clearly focused on the things that made the Golf a success in the first place and then worked the rest.

Speaking as someone who was also born in 1974, the Golf certainly creaks less and is a whole lot more peppy for its 38 years. But even though the interior comes as a revelation, and the design and build quality keep getting better, this car doesn't offer much in the way of surprises.

That the Golf can maintain its appeal while piling on the years is quite a remarkable achievement. It is a master at playing the long game, and by doing so it has kept fresh while others age.

Sales in the Middle East have grown to give it 23 per cent market share within its segment in a very short time. And when it goes on sale in February 2013, the new Golf is bound to make an even bigger impact. Not bad for an old-timer.

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.”

Honeymoonish
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Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

LA LIGA FIXTURES

Friday (UAE kick-off times)

Real Sociedad v Leganes (midnight)

Saturday

Alaves v Real Valladolid (4pm)

Valencia v Granada (7pm)

Eibar v Real Madrid (9.30pm)

Barcelona v Celta Vigo (midnight)

Sunday

Real Mallorca v Villarreal (3pm)

Athletic Bilbao v Levante (5pm)

Atletico Madrid v Espanyol (7pm)

Getafe v Osasuna (9.30pm)

Real Betis v Sevilla (midnight)

The Prison Letters of Nelson Mandela
Edited by Sahm Venter
Published by Liveright

Chelsea 2 Burnley 3
Chelsea
 Morata (69'), Luiz (88')
Burnley Vokes (24', 43'), Ward (39')
Red cards Cahill, Fabregas (Chelsea)

Things Heard & Seen

Directed by: Shari Springer Berman, Robert Pulcini

Starring: Amanda Seyfried, James Norton

2/5

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GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
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