Harry Redknapp, left, the Tottenham manager, will not have the services of some top players.
Harry Redknapp, left, the Tottenham manager, will not have the services of some top players.

Redknapp fancies Spurs' 'big chance'



Tottenham Hotspur head into tonight's Champions League play-off second leg against Young Boys of Berne knowing they are fortunate to even be in with a chance of progressing to the group stage. Young Boys travel to White Hart Lane having shocked Tottenham in the first leg, going three goals up within half an hour as the north London side struggled to adapt to the artificial surface at the Stade de Suisse stadium.

Harry Redknapp's side recovered through goals from Sebastien Bassong and Roman Pavlyuchenko to end the first leg just 3-2 down. That result means Spurs need to beat their Swiss opponents in the second leg, to go through to the lucrative group stage of the Champions League. But even though Redknapp admits Tottenham "came back from the dead", the manager is well aware they still face an uphill task.

"We've got the advantage of two away goals and we need to go out there and win the game," Redknapp said. "We've got a big chance. It won't be easy, but we've come back from the dead after being 3-0 down." Redknapp has a lengthy injury list to contend with ahead of the Young Boys fixture, as three of his strikers, Jermain Defoe, Robbie Keane and Pavlyuchenko, along with Luka Modric, the midfielder, all sat out the Premier League game against Stoke on Saturday.

The Spurs boss believes Defoe is the most likely to recover in time for the Young Boys game, saying: "Defoe probably has the best chance, but the others could be struggling. Pavlyuchenko will have an injection. Robbie Keane's got a knee problem. I'm sure one of them will be fit." If Defoe or the other strikers do not prove their fitness, Redknapp could go for the same formation as he did against Stoke, with Peter Crouch employed as a lone forward. Bale and Aaron Lennon, the wide men, were given the freedom to get forward and support the England man - or, as was shown on Saturday, to score themselves as Bale hit two.

William Gallas, the former Chelsea and Arsenal centre-back who signed for Spurs a one-year deal as a free agent on Sunday, will not be eligible to face Young Boys. The Swiss side are confident they can prevail in the second leg, but insist they will not go to White Hart Lane content merely to protect their lead. "We still want to advance. I think the first leg showed us that we have chances to go through," said David Degen, the Switzerland midfielder.

"I am sure we can score a goal or even two in London and I certainly think we still have our chances." There are four other ties tonight to see who makes the group stage. FC Zilina, the Slovakian side, have the most reason to be confident as they take a 2-0 advantage into their second leg at home against Sparta Prague of the Czech Republic. Auxerre, of France, will want to make the most of home advantage as they look to cancel out the one goal deficit by which they trail Zenit St Petersburg after the Russian side won the first leg 1-0.

FC Copenhagen also have work to do. The Danes trail Norwegian opponents Rosenborg 2-1 going into tonight's leg. Ajax hold the edge in their tie with Dynamo Kiev. The sides drew 1-1 in Russia last weekend, and Kiev know they have to score tonight otherwise the Dutch side can progress on the back of the away goals rule. * Agencies

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Three tips from La Perle's performers

1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.

2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.

3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.

Business Insights
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Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Rating: 4/5
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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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