While Andy Murray celebrates his weekend marriage, the rest of the ATP elite are girding for battle on the clay, with Novak Djokovic, Roger Federer and Rafael Nadal leading the field as the Monte Carlo Masters begins on Sunday.
Murray, who moved back to third in the world after a Miami final last weekend against in-form number one Djokovic, will delay the start of his clay campaign as he misses the European opening.
Djokovic is riding a massive wave of form, with the Serb having already won the Australian Open and completing a historic third trophy double at Indian Wells and Miami.
With his newborn son now on the road with the family and his tennis firing perfectly, the 27-year-old is totally content.
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“It’s just the beginning, I don’t want to predict anything. I don’t want to put some additional unnecessary pressure on myself,” Djokovic said.
“There is already a lot of expectations of course. Everywhere I go I have to deal with it.
“I could not ask for a better start of the season winning three big titles. Hopefully I’m able to use this for the clay courts.
“That’s extremely important for me, obviously, leading up to French (the only Grand Slam he has never won). I feel good about myself right now on the court, and just going to take it slowly, one tournament at a time.”
Last year’s finalist Federer is back after skipping Miami as a strategic move and getting in a training block at home with Austrian Dominic Thiem.
Federer was beaten a year ago by compatriot Stan Wawrinka, who won the title but has failed to emerge as a consistent top five contender.
The Swiss takes the seventh seeding at the seaside Country Club.
A major question mark has to hang over eight-time winner Rafael Nadal, the third seed who has not lifted the title here since 2012.
Since winning his ninth Roland Garros ten months ago, the Spaniard’s only title was a small South American clay event in February.
Nadal, his battered body now a constant issue, is trying to bounce back after poor hard court showings in the US, exiting in the Indian Wells quarters and third round in Miami.
The 28-year-old has been back on the familiar clay at home in Mallorca and needs a deep run in the Principality to help cement his fragile confidence.
Canadian Milos Raonic takes the fourth seeding in a draw where the top eight seeds have first-round byes.
The big server is trailed by number five David Ferrer of Spain, Czech Tomas Berdych in sixth seeding, and with 2014 Grand Slam winners Wawrinka and Marin Cilic closing out the elite grouping.
Missing will be Argentine Juan Martin del Potro, whose right wrist surgery comeback in Miami lasted for only one match.
Japan’s fourth-ranked Kei Nishikori is also absent, while Frenchman Richard Gasquet is missing as he battles more back problems.
But the French will have Jo-Wilfried Tsonga, Gael Monfils and Giles Simon in the mix.
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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.”
Tailors and retailers miss out on back-to-school rush
Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”
A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.
“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”
Credits
Produced by: Colour Yellow Productions and Eros Now
Director: Mudassar Aziz
Cast: Sonakshi Sinha, Jimmy Sheirgill, Jassi Gill, Piyush Mishra, Diana Penty, Aparshakti Khurrana
Star rating: 2.5/5
Bert van Marwijk factfile
Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder
Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia
Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands
