The 40-year-old Sanath Jayasuriya is still going strong for his age.
The 40-year-old Sanath Jayasuriya is still going strong for his age.

Jayasuriya whets his appetite



As last night's match between Sri Lanka and India meandered to a close, fans at Colombo's Premadasa Stadium held aloft a placard which read: "Tonight's special - Indians barbecued". It was an apt description of India's fate in the third match of the Compaq Cup triangular series. They crashed to a 139-run defeat, their worst against Sri Lanka, with veteran Sanath Jayasuriya (98) and youngster Angelo Mathews (6-20) feasting on their neighbours from across the Palk Strait.

Jayasuriya simply relishes the Indian bowling attack. He has scored more runs (2,812) and centuries (seven) against India than versus any other country. Even his last century in one-day internationals had come against them in January this year. Since then, he had been struggling for runs with a modest aggregate of 139 from eight games and a top score of 37. Critics were getting increasingly vocal about the 40-year-old's position in the Sri Lankan side. But he replied them in style.

Jayasuriya's knock and Thilina Kandamby's unbeaten 91 helped Sri Lanka post 307 for six and the score proved well beyond the Indians, who were bowled out for 168 in 37.2 overs. Faced with a run-chase of more than six an over, the Indians crumbled under the pressure. Only Rahul Dravid could make a worthwhile stand, scoring a laboured 47. Sachin Tendulkar came up with 27 and the highest partnership of the innings was 38, between Dravid and Yuvraj Singh (16).

Mathews just steamed through the middle-order with a six-wicket haul in six overs, including the prized scalps of Dravid, Suresh Raina for a duck, Mahendra Dhoni (eight) and Yusuf Pathan (one). The 22-year-old also chipped in with the bat, adding 70 runs for the fourth wicket with Jayasuriya after the big guns - Tillakratne Dilshan (23), Mahela Jayawardene (17) and Kumar Sangakkara (five) - had returned to the pavilion.

The attacking opener Jayasuriya got off to a typically blustery start as Sri Lanka posted 72 from the opening 10 overs. He was 42 then, but did not reach his 50 until the 20th over, starved of the strike as wickets fell regularly at the other end. Still, his 68th half-century, and first in nine matches, came in 45 deliveries. Exactly 10 overs later, Jayasuriya fell two agonising runs short of what could have been his 29th century in ODIs. He tried to work Ashish Nehra across the line and former teammate Kumara Dharmasena showed no hesitancy in raising his finger.

Jayasuriya was the fourth Sri Lankan wicket to fall, with the score at 172 for four. Thilina Kandamby continued from there and the 27-year-old made sure the good start was not wasted. Finding an able ally in Chamara Kapugedera (36), the duo added 83 runs for the sixth wicket from 92 balls. A late flurry by Kandamby brought 53 runs from the last five overs. arizvi@thenational.ae

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Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

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COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
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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.”

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