DUBAI // Victoire Pisa's victory in Saturday's Dubai World Cup and subsequent scenes in the parade ring at Meydan Racecourse will go down as one of the most memorable renewals of the US$10 million (Dh36.7m) race in its 16-year history.
Given the raw emotion on show, not even losing connections could begrudge the Japanese their success when the earthquake and tsunami-hit country supplied the first two home in the big race.
Many of those present, even with no link to the stricken country, confessed to a lump in the throat as Katsuhiko Sumii's lion-hearted charger took up the running in the backstretch.
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More
• Emotions run high on Dubai World Cup night of delight for Victoire Pisa
• Victory for Japan at the World Cup gives a ravaged nation hope
• Presvis keeps his cool to hold off River Jetez
• Dettori and a fresh Rewilding shift through the gears
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The fact that Mirco Demuro, the jockey, had the race sewn up six furlongs from home, added to the magic of the result. It takes guts to go for it from so far out but Demuro's inspired riding in a slow-paced contest proved to be just the ticket to the $6m winner's purse.
After the courageous 32-year-old Italian crossed the line on Victoire Pisa, Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, was enveloped in a huge, tearful hug by Manami, the daughter of the winning owner, Yoshimi Ichikawa.
Sheikh Mohammed's easy manner in offering congratulations and comfort displayed a side of the Dubai ruler not often seen in public and that alone will live long in the memory of the racing world.
Sadly, Japan's woes are too great for one victorious racehorse to have much impact in real terms, but as Sumii, the trainer, said on Saturday night: "It has been a really dark time for Japan and hopefully this will lift the country up a little."
The Japanese are renowned as passionate and knowledgeable racing fans, and Victoire Pisa's success and that of Transcend in second place will certainly have registered at home.
Martin Talty, the Dubai Racing Club's International Manager, witnessed the victory.
"It's a funny thing but if you look at the big sporting stages like the football World Cup or the Olympics, you find that sport often has a way of producing moments like this," he said. "During the build up you just got a sneaking feeling that the Japanese would produce something special."
And Talty said that, while Victoire Pisa may not have been among the hot favourites in the race, it should come as no surprise that the now three-time Grade 1 winner took the spoils for the first time for Japan.
"This guy, [Sumii] is at the top of the tree," Talty said. "Lets not forget he's trained the first two home in the Melbourne Cup in 2006 and he's the man who trained Vodka, another exceptional racehorse.
"He's been at the top of his game for a long time and is up there with the absolute best in the world."
Talty said that the memory of the 2011 Dubai World Cup would last a long time.
"You can't compare World Cup races," he said. "Every year is special for a different reason, but what I will say about this renewal is that we assembled the strongest field ever with 11 of the 14 already Group 1 winners owning a total of 27 top-tier victories between them.
"That, the fact that this was Japan's first World Cup and the amazing scenes in the parade ring after the race combine to ensure that the 16th renewal of the race will live a long time in the memory."
Perhaps, in summing up, the final words should go to Sumii himself. "As I was watching the race I was very nervous," he said after the race. "When I saw that my horse was going to win it was unbelievable. I just kept screaming it's a miracle, it's a miracle, it's a miracle!"
sports@thenational.ae
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Intercontinental Cup
Namibia v UAE Saturday Sep 16-Tuesday Sep 19
Table 1 Ireland, 89 points; 2 Afghanistan, 81; 3 Netherlands, 52; 4 Papua New Guinea, 40; 5 Hong Kong, 39; 6 Scotland, 37; 7 UAE, 27; 8 Namibia, 27
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
The Cairo Statement
1: Commit to countering all types of terrorism and extremism in all their manifestations
2: Denounce violence and the rhetoric of hatred
3: Adhere to the full compliance with the Riyadh accord of 2014 and the subsequent meeting and executive procedures approved in 2014 by the GCC
4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.
5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.
6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security
COMPANY%20PROFILE
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
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.”
UAE currency: the story behind the money in your pockets
SPECS
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Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
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The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
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Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
Final scores
18 under: Tyrrell Hatton (ENG)
- 14: Jason Scrivener (AUS)
-13: Rory McIlroy (NIR)
-12: Rafa Cabrera Bello (ESP)
-11: David Lipsky (USA), Marc Warren (SCO)
-10: Tommy Fleetwood (ENG), Chris Paisley (ENG), Matt Wallace (ENG), Fabrizio Zanotti (PAR)
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
