Godolphin can end on high



HONG KONG // The Godolphin trainer Saeed bin Suroor has tipped Alexandros to upset the odds and win the Cathay Pacific Hong Kong Mile. The chestnut colt is the final runner of a record-breaking 12 months around the globe for the Dubai operation and aims to end the year on a high at Sha Tin. With Good Ba Ba, rated the best miler in the world in 2008, going for an unprecedented hat-trick of Hong Kong Mile crowns, victory will have to be earned the hard way, but bin Suroor was heartened by Alexandros's demeanour in the Far East.

"Alexandros did his main work last Saturday before he left Dubai and he took the journey to Hong Kong very well," he said. "He cantered for a mile and a quarter on the turf track on Friday morning, has had a very relaxed time of it since and he looks in very good condition at the moment. He is happy, fresh and healthy and his preparation has gone to plan. "It's going to be a tough contest to win but I think that he has the class to run a big race."

Alexandros has been drawn well in stall seven, which will allow him - as he prefers - to drop in behind the leaders. Bin Suroor described Alexandros as "a bit unlucky" to lose when he went down by a head in Newbury's Lockinge Stakes to Virtual in May after jockey Frankie Dettori lost his whip in the final stages, and the handler is optimistic that he can reproduce that speed. "He looks to be in great form and I am hopeful that he can run up to the level that he showed at Newbury and Nad al Sheba earlier this year," he said.

The big-race rider Dettori added: "It's a tough ask against Good Ba Ba but we've got a good draw and we've always done well at Hong Kong, so we'll give it a real go." Godolphin were also due to have runners in the Hong Kong Cup and Hong Kong Vase before fitness concerns prompted the late withdrawals of Balius and Campanologist. There was concern over the participation of Vision D'Etat in the cup when the horse was confined to the quarantine area yesterday with a lame right hind leg.

His trainer Eric Libaud reported it was a skin infection and "nothing serious" but vets will check on the Prince Of Wales' Stakes winner at Sha Tin today before giving him the all-clear to race. Eagle Mountain, running in the colours of Sheikh Mohammed bin Khalifa Al Maktoum, is going for a second consecutive win in the feature event but will be up against it in only his second race after 11months away from the track with injury.

sports@thenational.ae Races from 8:25am on Dubai Racing Channel, with feature races from 10am

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

COMPANY%20PROFILE
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  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

THE SPECS

Engine: 1.5-litre turbocharged four-cylinder

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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.”

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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AT4 Ultimate, as tested

Engine: 6.2-litre V8

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Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East