JOHANNESBURG // When people speak of the football calendar becoming bloated with meaningless matches, it is usually tournaments like the Confederations Cup that they have in mind. It is telling of the competition's status that its name tends to recall the tragic images of Marc-Vivian Foe's death during a semi-final between Cameroon and Colombia in 2003, rather than a spectacular goal or a great game. Perhaps, though, its reputation is beginning to change.
This year's tournament, which starts tomorrow, carries significance in providing South Africa in dry-run in hosting the World Cup.
The tournament has given the World Cup hosts a rehearsal a year before the real thing since 2001, but, here, there is probably more need than ever before. Nobody doubted that Germany or Japan and South Korea would put on a good show, but there have been plenty of questions about South Africa: this is a chance for them to prove to themselves and the world that they are ready.
Even aside from the doubts over South Africa's readiness, there is a sense that the Confederations Cup is growing in prestige. There would be no possibility now, for instance, of one of the qualifiers declining to take part as Germany did after winning the European Championship in 1996 and finishing runners-up in the World Cup in 2002, or France did after winning the World Cup in 1998.
Fifa took over the running of the tournament and renamed it the Confederations Cup in 1997, but it can trace its origins back to the Mundialito, featuring Uruguay, Italy, West Germany, Brazil, Argentina and Holland - five of the six winners of the World Cup, plus Holland who replaced the other, England - held in Montevideo in 1980 to celebrate the 50th anniversary of the first World Cup.
There followed the Artemio Franchi Trophy, a competition held in 1985 and 1993 between the champions of the European and South American confederations.
In 1992 and 1995 Saudi Arabia hosted the King Fahd Cup, featuring themselves and various confederational champions, a tournament that was successful enough to persuade Fifa to take over, rationalising the various events into the modern competition, which features the hosts, the six confederational champions and the world champions. Its prestige has grown with every edition.
For the likes of Iraq and New Zealand, the tournament is a rare opportunity to mix with the international elite. For those nations with more realistic World Cup aspirations, it is useful preparation, offering a rare chance for an international coach to work with his players over a protracted period, perhaps beginning to instil the sort of tactical ideas that cannot be taught in the three days available before a qualifier.
Simply seeing his players interacting in a squad environment over the span of a tournament is of value to a coach: who gets bored? Who gets homesick? Which players needle each other? There may have been a touch of diplomacy about the Spain striker David Villa's claim that it would be "a terrific morale boost" were they to win the trophy, but there is substance to his comments about the value of getting used to the country and conditions a year early.
And for the rest of us, the Confederations Cup offers an early insight into what might happen next summer. Egypt may be double African champions, but how do they measure up against sides from other continents? Can Italy rebuild after the disappointments of Euro 2008?
Will South Africa be the weakest ever World Cup hosts? Just how pragmatic are Brazil? And, perhaps most intriguingly of all, was their Euro 2008 success a freak, or will Spain at last become one of the world's elite?
The Confederations Cup will confirm nothing, but it might just give us a hint.
sports@thenational.ae
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
MANDOOB
%3Cp%3EDirector%3A%20Ali%20Kalthami%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Mohammed%20Dokhei%2C%20Sarah%20Taibah%2C%20Hajar%20Alshammari%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A%3Cp%3E%3C%2Fp%3E%0A
BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
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.”
Indoor cricket in a nutshell
Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
Things Heard & Seen
Directed by: Shari Springer Berman, Robert Pulcini
Starring: Amanda Seyfried, James Norton
2/5
RESULTS - ELITE MEN
1. Henri Schoeman (RSA) 57:03
2. Mario Mola (ESP) 57:09
3. Vincent Luis (FRA) 57:25
4. Leo Bergere (FRA)57:34
5. Jacob Birtwhistle (AUS) 57:40
6. Joao Silva (POR) 57:45
7. Jonathan Brownlee (GBR) 57:56
8. Adrien Briffod (SUI) 57:57
9. Gustav Iden (NOR) 57:58
10. Richard Murray (RSA) 57:59
