Cook steers England to a draw



Alastair Cook hit his eighth Test hundred to steer England to an inevitable draw against West Indies at Kensington Oval. Cook's unbeaten 139 comfortably represents his highest Test score and Kevin Pietersen weighed in with 72 not out as the tourists averted anything untoward on the final day of a run-heavy contest. The pair shook hands with their West Indian opponents at 3.50pm local time after declaring on 279 for two. English hopes of victory were dashed when the Windies stacked up 749 for nine declared yesterday but they were required to keep their discipline to maintain an interest in the series. Having been shot out for just 51 already in this campaign, England highlighted the freak nature of that day at Sabina Park by comfortably wiping out their 149-run deficit on first innings. Cook, who started the fifth day on nought in an overnight score of six without loss, celebrated his first hundred at this level for more than 14 months before tea and became the third-youngest player, behind Sachin Tendulkar and Ramnaresh Sarwan, to pass 3,000 Test runs. The opener, 24, spoke earlier in this series about the need to address his chronic conversion rate of 50s to hundreds and he began this innings with 11 half-centuries in his past 27 innings.

Aside from a sharp reaction from Sulieman Benn at leg slip which encouraged the umpire Russell Tiffin to ask for television assistance on a run-out appeal, Cook's only life came in the penultimate over of the first hour. The Essex left-hander had made 30 when he top-edged a slog-sweep off the giant spinner Benn which Brendan Nash failed to catch running back from midwicket. Cook passed 50 for the fourth time in as many innings this series before lunch and ploughed to three figures in the middle session when he turned a delivery from Ryan Hinds through midwicket for three. Pietersen, meanwhile, reached a 74-ball 50 shortly afterwards to continue the rich form of the batsmen since their Jamaican capitulation. Pre-match talk from England had revolved around how to take 20 wickets but incredibly even the two sides combined could not manage it over a full five days due to the supreme nature of the batting surface.

The loss of captain Andrew Strauss and his Middlesex colleague Owais Shah either side of lunch took the tally in the contest to 17. Strauss was the only casualty before lunch while Shah also went to spin to give West Indies a brief glimmer of hope. Strauss, whose 16th Test hundred on day one appeared to be setting a platform for a victory push, headed into the fifth morning determined to retain his side's interest in the campaign. He had contributed 38 when he chopped into his stumps from an attempted cut in Chris Gayle's first over. Shah was then struck full on the foot by a delivery from Benn in the sixth over after lunch to open up an end but Strauss' opening partner Cook and Pietersen took their side into credit. Fidel Edwards was the one fast bowler to rush the batsmen in this bat-dominated contest but his focus was distracted in the opening minutes today by the umpire Aleem Dar's observations that he was running on the pitch. It appeared to get into Edwards' mind and although he later produced some of his customary firebrand stuff, one of his overs cost 17 as Cook twice pulled for four and another bouncer flew for four byes. Cook got off the mark in the opening over of the day with an edged four off Edwards and raced past overnight partner Strauss with some positive strokes. He maintained a positive mood in the bid to secure a draw and head to Trinidad with the chance of levelling the series. West Indies, meanwhile, gave up one of their two referrals for the innings with a failed challenge to Cook being given not out at bat-pad, on 58, off Gayle. Pietersen batted with his customary ease, highlighted by a simple loft for six over midwicket off Hinds. He also toyed with switch-hitting late on, although Cook's more conventional style meant he edged the scoring in their unbroken 150-run alliance for the third wicket. *PA Sport

Results

5pm: Maiden (PA) Dh80,000 (Turf) 1,200m, Winner: ES Rubban, Antonio Fresu (jockey), Ibrahim Aseel (trainer)

5.30pm: Handicap (PA) Dh85,000 (T) 1,200m, Winner: Al Mobher, Sczcepan Mazur, Ibrahim Al Hadhrami

6pm: Handicap (PA) Dh80,000 (T) 2,200m, Winner: Jabalini, Tadhg O’Shea, Ibrahim Al Hadhrami

6.30pm: Wathba Stallions Cup (PA) Dh70,000 (T) 2,200m, Winner: AF Abahe, Tadgh O’Shea, Ernst Oertel

7pm: Handicap (PA) Dh85,000 (T) 1,600m, Winner: AF Makerah, Tadhg O’Shea, Ernst Oertel

7.30pm: Maiden (TB) Dh80,000 (T) 1,600m, Winner: Law Of Peace, Tadhg O’Shea, Satish Seemar

MATCH INFO

What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany

Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)

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.”