Andrew Strauss masterminded England's win.
Andrew Strauss masterminded England's win.

Strauss thrilled with the quality of England's performance



KINGSMEAD // Andrew Strauss, the England captain, hailed a faultless display after his side wrapped up victory by an innings and 98 runs to go one-nil up with two Tests to play in South Africa. "Away from home, it's as emphatic a victory that I can remember," Strauss said, after England took the remaining four South African wickets to bowl the hosts out for 133 runs on the final day of the second Test.

"We did exactly what we wanted to. We got them two down early on and they got stuck in but never got away from us. "With the bat we hit them hard and made it count. When you do that it puts the opposition under pressure. It set things up to bowl them out in the fourth innings." Strauss reserved special praise for spinner Graeme Swann, who took his fifth second innings wicket yesterday to finish with match figures of nine for 164 and take his 2009 tally to 54 in the process.

"Graeme's had a massive impact on our side over the last 12 months," Strauss said. "He's always been a very attacking spinner, never someone who settles at two an over, he's always given it a rip and bowled an attacking line and with the extra pressure in Test cricket that can be invaluable. "On the field he's been exceptional and off it he lightens the mood, keeping people going when they're down, and that makes a big difference. His contribution has been massive.

"He's a very clever spin bowler and his batting's been a massive plus as well. There's nothing worse as a bowler than someone who has no fear of getting out. He plays outrageous shots which are difficult to stop. "He's able to contribute when the wickets are not spinning and take two to three wickets in the first innings which spinners don't often do. It takes the pressure off your seamers at the other end."

A deflated Graeme Smith, the South African skipper, found the manner of his side's defeat difficult to stomach. "It's massively disappointing. We've been outplayed over the last few days and have not really had an answer," he said. "We fought really well to post 300-odd but, from ball one with the ball, we were poor and gave England a start. They raced to 100 and we were playing catch-up after that.

"You've got to give Graeme Swann credit for the way that he has bowled. It's been disappointing the way we've played him. We've played spin well over the last two years but he's used his angles well and created a lot of pressure. He's bowled behind an attack that has been very precise and allowed him to do his thing." sports@thenational.ae

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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.”

Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
  • Drones
  • Animals
  • Fireworks/ flares
  • Radios or power banks
  • Laser pointers
  • Glass
  • Selfie sticks/ umbrellas
  • Sharp objects
  • Political flags or banners
  • Bikes, skateboards or scooters
What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
  • Grade 4 = grade C
  • Grade 3 = between grades D and E
  • Grade 2 = between grades E and F
  • Grade 1 = between grades F and G
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