Jacques Kallis of Royal Challengers Bangalore had to make a mental adjustment, so his game could suit the Twenty20 format.
Jacques Kallis of Royal Challengers Bangalore had to make a mental adjustment, so his game could suit the Twenty20 format.

Kallis deserves the royalties



When the IPL began, a lot of people including players and their agents, did not really know what to think. The sums offered for six weeks of "work", or 14 games of Twenty20 cricket, were mind-boggling, worth many times the national contracts that even senior players had signed with their boards.

In those days of conspicuous consumption, wads of dollar bills were just thrown at players, even those patently ill-suited to the format. A senior South African journalist has a great yarn about the day of the first IPL auction. He was working when his phone rang. The voice on the line belonged to Jacques Kallis's agent. "Guess where I am?" he said. "I'm on a yacht in Cape Town harbour. Jacques just sold for US$900,000 [Dh3.3 million]."

Eyebrows were raised when the Royal Challengers Bangalore spent that kind of money in a player not really renowned for his dynamism in the limited-overs arena. By the season's end, Kallis was being mentioned as one of the worst buys of the IPL, an example of the money-for-nothing attitude that some players had brought with them to India. His numbers were dismal - 199 runs in 11 games, and a strike-rate of just 108.74. The four wickets he took counted for little, with the opposition taking him for more than nine an over. With two years of a three-year deal left to run, it was clear that remedial measures were needed. Otherwise, the greatest all-rounder that the game has seen since Garfield Sobers was destined to be benched.

Kallis's woes in India also vindicated the selection panel that had left him out in the cold before the first World Twenty20 on home soil. Looking back, Kallis says that it was rejection's cold touch that prompted him to re-tool his game. "Two years ago, I was criticised and told that I couldn't play Twenty20," he says. "I went back and worked on my game. It's something I pride myself on." One of the catalysts for change was Duncan Fletcher, the architect of England's 2005 Ashes victory and a fellow Cape Town resident. "I've been working on my game for a year or two with him," says Kallis. "I wanted success in the T20 format. There have been one or two technical changes I've made but the key thing has been the mental adjustment. T20 is a format in which the risks and rewards are much higher. Thinking differently has freed me up to play more shots."

The benefits were apparent when the IPL shifted to South Africa last May. After a disastrous start under Kevin Pietersen's captaincy, Bangalore had hit rock-bottom by the time Anil Kumble took over. Rahul Dravid had returned to India for the birth of his second son. Kallis, as the team's remaining senior batsman, needed to step up. He did, with 361 runs in 15 games, though the strike-rate (108.73) was again nothing to shout about. He contributed six wickets too as the Royal Challengers went on a winning streak that took them all the way to a final that they lost by just six runs to the Deccan Chargers.

Part of the credit for the revival has to go to Kumble, whose performances on the field even after retirement from the international game demanded respect from his teammates, and to Ray Jennings, whose no-nonsense approach mirrored that of his captain. During his days as South Africa's coach, Jennings had clashed with several senior players and the Royal Challengers soon knew that no one would be given a free ride.

By the time Amit Mishra bowled him out for 27 last night, Kallis had scored 310 runs for the season being dismissed just twice. The strike-rate has been jazzed up (128.09) and he already has four wickets, including a spell that helped expose Yusuf Pathan's discomfort against the short ball. As he goes about justifying that lofty price tag at the age of 35, the former Wynberg Boys' star appears intent on proving that it is not necessarily a young man's game. With an auction scheduled for early next year, it should be plain sailing again for his agent.

Dileep Premachandran is the associate editor at Cricinfo and Asian cricket correspondent of The Guardian. @Email:sports@thenational.ae

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

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

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

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.”

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million