Garrett Hartley kicked an 18-yard field goal in overtime as the New Orleans Saints kept their unbeaten record intact with a 33-30 win over the Washington Redskins. The Saints (12-0) never led in the game until Hartley kicked his fourth field goal of the game six and a half minutes into overtime.
"They had us on our heels and we were fortunate to hang in there," said the Saints coach, Sean Payton. New Orleans trailed by 10 points deep into the fourth quarter, but Drew Brees's 53-yard pass to Robert Meachem and a Hartley extra point with 1:19 remaining tied the score at 30-30 and forced overtime. Washington (3-9) could have iced the game seconds earlier but Shaun Suisham was wide on a 23-yard field goal attempt that would have given the Redskins a 33-23 lead with 1:52 to play in regulation.
"The missed field goal was huge and gave us life and Drew marched us right down there and made some big plays," said Payton, whose team clinched the NFC South title with the win. Washington fumbled away their final chance in overtime when replay officials ruled Mike Sellers had lost the ball on the Redskins' 37-yard line. New Orleans then marched to the Washington one-yard line before giving Hartley a chance to seal the comeback.
"It was a great game," said the Redskins coach, Jim Zorn. "It just feels awful to stand up here and be the losing head coach again." The loss was the seventh in eight games for the Redskins. Washington led 10-0 after the first quarter and were ahead 30-20 early in the fourth before Brees, who passed for a season-high 419 yards and two scores, brought the Saints back. The Indianapolis Colts, the only other unbeaten team, tied an NFL record with their 27-17 win over the Tennessee Titans (5-7).
The win was their 21st consecutive regular-season victory, equalling the mark set by the New England Patriots from 2006 to 2008. "There were enough good things to make us feel pretty good about ourselves, and certainly enough things to humble us as well," said the Colts' coach, Jim Caldwell. Indianapolis, who had come from behind in their previous five games, took a 21-3 lead in the first-half with two rushing touchdowns by Joseph Addai and Peyton Manning's only touchdown pass of the game, to Austin Collie.
The Colts can break the consecutive win record when they play the Denver Broncos on Sunday. * With agencies
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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.”