Arabian Gulf's Jonny MacDonald, left during the Dubai Sevens Shield final in November, is in the squad for the World Cup.
Arabian Gulf's Jonny MacDonald, left during the Dubai Sevens Shield final in November, is in the squad for the World Cup.

Keenan sets sights on recognition for Gulf



DUBAI // The Arabian Gulf are not quantifying what would represent success at next month's World Cup Sevens. Their primary ambition is to change people's perception of them. The region's elite players are all part-timers. Results have often reflected that status in the harshest terms possible in the past. The nadir came when New Zealand - one of their pool rivals next month - beat them 54-0 at the 2006 Dubai Rugby Sevens. It was an embarrassing reverse which prompted a number of players to make themselves unavailable for future international duty.

Yet hope has returned, along with a raft of exciting young talent. Charlie Keenan, the Gulf's assistant coach and fitness master, thinks big scalps should be within reach for his side in Dubai. "I just want people's attitude to change towards us," he said. "They are amateurs, having to compete against professionals. They are training like professionals and have given up a lot. "I give them a hard time when they are not able to attend training, but some of these guys are getting up and 6.30am, going to the gym before work, doing some more at lunch time, then they get me phoning up and saying they have to come to the gym to do weights.

"They have made a big commitment, and people should be aware of the fact that, although we are amateur, when we turn up to the World Cup we will be a professional outfit." An extended World Cup squad of 16 players was named yesterday, which will be trimmed to 12 a fortnight before the tournament. The players are more confident an their abilities than at any point in the past. They have never won a match in the main competition of an International Rugby Board event, and damage limitation has usually been the extent of their ambitions.

Keenan said pool stage wins against Italy and Tonga are a realistic goals for the Gulf. "We are in the right place at the moment, and we are looking to win both our games against Italy and Tonga," he said. "That is based on the feeling within our squad. That is not a case of us thinking too much: we could beat them quite easily." Keenan, a former Scotland sevens player, is so confident in his charges he feels Italy - who are ranked world No 11 in the 15-man game - could be outclassed by his side. "With Italy, we are not sure what to expect. They could send out players that aren't making it into their Six Nations squad, or players who just get together a week before," he added. "If we play a structured game against them they should not be able to compete with us."

Steve Cooper (captain), Sean Hurley (vice captain), Chris Gregory, Josh Sherrin, David Clark, Jonny MacDonald, Corey Oliver, Stuart Gibb, Francois Coetzer, Gerry Considine, Taif al Delamie, Luke Sinclair, Byron Kramer, Brett Williams, Marcus Smith, Dan Patching. pradley@thenational.ae

The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

UAE currency: the story behind the money in your pockets

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.”

ANDROID%20VERSION%20NAMES%2C%20IN%20ORDER
%3Cp%3EAndroid%20Alpha%3C%2Fp%3E%0A%3Cp%3EAndroid%20Beta%3C%2Fp%3E%0A%3Cp%3EAndroid%20Cupcake%3C%2Fp%3E%0A%3Cp%3EAndroid%20Donut%3C%2Fp%3E%0A%3Cp%3EAndroid%20Eclair%3C%2Fp%3E%0A%3Cp%3EAndroid%20Froyo%3C%2Fp%3E%0A%3Cp%3EAndroid%20Gingerbread%3C%2Fp%3E%0A%3Cp%3EAndroid%20Honeycomb%3C%2Fp%3E%0A%3Cp%3EAndroid%20Ice%20Cream%20Sandwich%3C%2Fp%3E%0A%3Cp%3EAndroid%20Jelly%20Bean%3C%2Fp%3E%0A%3Cp%3EAndroid%20KitKat%3C%2Fp%3E%0A%3Cp%3EAndroid%20Lollipop%3C%2Fp%3E%0A%3Cp%3EAndroid%20Marshmallow%3C%2Fp%3E%0A%3Cp%3EAndroid%20Nougat%3C%2Fp%3E%0A%3Cp%3EAndroid%20Oreo%3C%2Fp%3E%0A%3Cp%3EAndroid%20Pie%3C%2Fp%3E%0A%3Cp%3EAndroid%2010%20(Quince%20Tart*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2011%20(Red%20Velvet%20Cake*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2012%20(Snow%20Cone*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2013%20(Tiramisu*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2014%20(Upside%20Down%20Cake*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2015%20(Vanilla%20Ice%20Cream*)%3C%2Fp%3E%0A%3Cp%3E%3Cem%3E*%20internal%20codenames%3C%2Fem%3E%3C%2Fp%3E%0A