Alexander Volkanovski says he cannot yet be regarded as the greatest featherweight champion of all-time - a list in which he ranks former champion Conor McGregor at the bottom.
Unbeaten in his past 20 professional bouts, the Australian defends the divisional crown for a third time this weekend at UFC 273, when he faces “The Korean Zombie” Chan Sung Jung at the top of the bill in Jacksonville, Florida.
Volkanovski, whose pro record reads 23-1, has won all 10 of his fights in the UFC, including against former champions Jose Aldo and Max Holloway. He defeated the latter twice, in fact, with the rematch coming at UFC 251 during the inaugural Fight Island in Abu Dhabi in July 2020. It represents the sort of resume that has many proclaiming Volkanovski already as the best to ever do it at featherweight.
However, speaking to media in Florida on Wednesday, the current champion said Aldo remains the division’s all-time lead light. The Brazilian reigned supreme for almost five years before his title run was ended famously by McGregor in 16 seconds at UFC 194 in 2015.
“I believe I’ve still got more work to do,” Volkanovski said. “I give Aldo the respect. To be champion for as long as he was, he’s incredible. No matter the opposition that I’m facing like himself, Max and that, I’m fighting absolute killers, it’s pretty clear.
“But at the same time, to be champion that long - there’s going to be days you don’t show up, bad weight cuts, injuries, you name it. We’ve all done it and it’s a nightmare to not be on, on a day where you’ve got to go out there and defend your belt. For him to be a champion for so long, that’s saying something.”
Although McGregor’s victory against Aldo is recognised still as one of the most memorable moments in UFC history, Volkanovski said the Irishman should not be considered among the greatest to have competed at featherweight.
“You need defences, that’s the thing,” Volkanovski said. “I’m going to give him respect. The dude can fight. He made some bad decisions and all that type of stuff, but he can fight. To take out Aldo in Aldo’s prime, that’s saying something as well. Aldo is still showing he’s still in his prime - he doesn’t age.
“But again, I feel like I’ve definitely done a lot more than him, so out of all the champions, I’d say he would have to be at the bottom of the list. He ain’t going to like that, but whatever.”
On whether he wishes to eventually meet McGregor in the octagon, potentially at another weight - the Dublin-born star is the only former UFC featherweight champion he has yet to fight – Volkanovski said: “Everyone’s going to throw him out there cause it’s the money fight and all that type of circus around it. But again, he’s held this belt in my division as well. I’ve taken out the other guys; I haven’t had a chance to do him.
“Obviously, that’s something incredible, but he ain’t making featherweight. If I’ve got to move up to take that title I would, so that’s something that intrigues me. When you talk money, hype, all that type of stuff but not just that, someone else that’s held this [title] and I want to take them all out. The legends of my division, I want to take them.”
That said, Volkanovski is not looking past Jung this Sunday.
“This is a legacy fight,” he said. “I’ve taken out a lot of the legends, and I want to keep taking out legends. He’s definitely one of them. He’s earned this spot. He definitely has.”
The specs
Engine: 0.8-litre four cylinder
Power: 70bhp
Torque: 66Nm
Transmission: four-speed manual
Price: $1,075 new in 1967, now valued at $40,000
On sale: Models from 1966 to 1970
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UAE currency: the story behind the money in your pockets
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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