Jari-Matti Latvala has been asked to play more of a support role this year.
Jari-Matti Latvala has been asked to play more of a support role this year.

Latvala revved up



Only twice in the last two seasons has a World Rally Championship (WRC) podium not been topped by Sebastien Loeb or Mikko Hirvonen. Of the last 27 championship rounds, Loeb's 18 victories and Hirvonen's seven far outweigh the double success claimed by BP Ford Abu Dhabi's second driver, Jari-Matti Latvala. But the stats do not lie: the 24-year old Finn is the only driver to have halted the top two.

With a new season revving into life in snow-covered Sweden tomorrow, Latvala, who regards the white stuff as his preferred surface, is coy about his chances of causing further upsets in the 13-round championship. "For this season, the team wants me to be the second driver and support Mikko's bid for the championship," said Latvala. "My role is more supportive and I need to get as many points as possible for the manufacturers' race [which Citroen have dominated for the past two years].

"Maybe I won't have as many chances for victories but it's possible situations will arise. I hope towards the end of the year I can fight for wins." On the Swedish slush, however, few drivers should be able to out- pace Latvala, whose maiden success came at this event in 2008. "This rally is the best one to start the new season," he said. "It's better to start here than in Monte Carlo or Ireland because the changeable conditions in those rallies drastically affect the car set-up.

"I really enjoy driving on snow, it is my favourite surface. It is eas-ier because you know what tyres you need for the conditions. The heavy snowfall this winter should make for a very good rally." Having made a less-than- impressive start to last season - he amassed a paltry nine points from the first five rounds - Latvala is intent on finding consistency to match his renowned pace. Last season, it took Latvala six rallies, encompassing a high-speed smash in Portugal's fourth round, to find a balance between speed and control.

"I need to concentrate on getting consistency," said Latvala. "To do that, it's about being relaxed. I was too excited at the start of last season and when the pace wasn't there immediately, I pushed even harder and made mistakes. The more relaxed I get the faster I go, so I'm entering the new season mentally calm and ready to go." The WRC schedulers have once again smiled kindly on Ford. The loose surface events the team favour feature heavily on the calendar, while Citroen's penchant for the sealed variety will be maximised on just four fixtures.

Perhaps not as important, however, as the increase in contenders this year. Marcus Gronholm, the Finn is driving in Sweden and has confirmed he could, finances permitting, enter other rounds too, while Citroen's Dani Sordo and Latvala continue to mature. Elsewhere, Norway's Petter Solberg's full-season commitment could be crucial, as could the arrival of Finland's former Formula One world champion Kimi Raikkonen.

@Email:emegson@thenational.ae

World Cricket League Division 2

In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.

UAE fixtures

Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final

Left Bank: Art, Passion and Rebirth of Paris 1940-1950

Agnes Poirer, Bloomsbury

The five pillars of Islam
Duminy's Test career in numbers

Tests 46; Runs 2,103; Best 166; Average 32.85; 100s 6; 50s 8; Wickets 42; Best 4-47

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UAE squad to face Ireland

Ahmed Raza (captain), Chirag Suri (vice-captain), Rohan Mustafa, Mohammed Usman, Mohammed Boota, Zahoor Khan, Junaid Siddique, Waheed Ahmad, Zawar Farid, CP Rizwaan, Aryan Lakra, Karthik Meiyappan, Alishan Sharafu, Basil Hameed, Kashif Daud, Adithya Shetty, Vriitya Aravind

Quarter-finals

Saturday (all times UAE)

England v Australia, 11.15am 
New Zealand v Ireland, 2.15pm

Sunday

Wales v France, 11.15am
Japan v South Africa, 2.15pm

Arabian Gulf League fixtures:

Friday:

  • Emirates v Hatta, 5.15pm
  • Al Wahda v Al Dhafra, 5.25pm
  • Al Ain v Shabab Al Ahli Dubai, 8.15pm

Saturday:

  • Dibba v Ajman, 5.15pm
  • Sharjah v Al Wasl, 5.20pm
  • Al Jazira v Al Nasr, 8.15pm

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.”

Did you know?

Brunch has been around, is some form or another, for more than a century. The word was first mentioned in print in an 1895 edition of Hunter’s Weekly, after making the rounds among university students in Britain. The article, entitled Brunch: A Plea, argued the case for a later, more sociable weekend meal. “By eliminating the need to get up early on Sunday, brunch would make life brighter for Saturday night carousers. It would promote human happiness in other ways as well,” the piece read. “It is talk-compelling. It puts you in a good temper, it makes you satisfied with yourself and your fellow beings, it sweeps away the worries and cobwebs of the week.” More than 100 years later, author Guy Beringer’s words still ring true, especially in the UAE, where brunches are often used to mark special, sociable occasions.