Churchill could face a twin-pronged attack from Godolphin in the St James’s Palace Stakes at Royal Ascot next month after the Coolmore-owned colt added the Irish 2000 Guineas in Ireland on Saturday to his imperious success in the English equivalent three weeks ago.
Churchill was too good for Thunder Snow at the Curragh, and he did just enough under Ryan Moore to hold at arm’s length the Godolphin challenger and Christophe Soumillon to win by a comfortable two and half lengths.
It was Thunder Snow’s first run on turf since October, and considering his antics on dirt in the Kentucky Derby this month and his UAE Derby victory at Meydan in March it was a fine performance in the circumstances. Trainer Saeed bin Suroor knows a good colt when he sees one and despite his admiration for Churchill there is a possibility of a rematch.
“Thunder Snow ran very well,” he said. “He did everything right during the race and was beaten by a better horse on the day.
“We will keep the options open for him, including the St James’s Palace Stakes at Royal Ascot.”
Godolphin’s Barney Roy, who was second to Churchill at Newmarket three weeks ago, is also being aimed at the race, as is Al Wukair, who was third, but such is Churchill’s ability to produce only what is required there is likely to much more left in the tank.
This was Churchill’s seventh consecutive victory and his fourth at Group 1 level. By beating Thunder Snow, who was ranked Europe’s fourth-best juvenile last season, it was also arguably the best performance of his career.
He will be a formidable opponent next month and Aidan O’Brien was about as animated as the mild-mannered trainer can be in public following a horse race.
“He’s a great horse and we’re delighted with him,” he said. “He sleeps, he relaxes and he quickens. He’s a very exciting horse.
“He’s brave and so versatile. Ground and trip all come alike to him and he has a lovely demeanour. He saves all the petrol, and when you ask him to quicken he quickens.”
Churchill becomes the fourth horse trained by the Irish maestro to complete the Guineas double, following the previous successes of Rock Of Gibraltar (2002), Henrythenavigator (2008) and Gleneagles (2015). The latter two horses both stepped up to 2000 metres at the Breeders’ Cup for the final race of their careers, but Churchill could well cover more ground some time this summer.
“He’d have no problem stepping up to 10 furlongs later in the year,” O’Brien added. “He’s so relaxed and chilled.”
The Irish 2000 Guineas was a key clash between Coolmore and Godolphin just seven days before their massed ranks collide in the Derby at Epsom. O’Brien ruled out Yucatan, the Derrinstown Stud Derby Trial runner-up, from 2,400-metre Classic on Saturday and it reduced his hand to six runners, headed by Cliffs Of Moher, the Dee Stakes winner at Chester.
Godolphin could still have three runners in Best Solution and Dubai Thunder, who both worked at Chelmsford Racecourse on Saturday, as well as Benbatl.
It was also revealed on Saturday that Sheikh Hamdan bin Mohammed’s Permian will be ridden by William Buick.
Buick travelled to Middleham in the north of England to partner the gutsy winner of the Dante Stakes at York ten days ago, in a routine canter at Mark Johnston’s stables.
“He’s in good shape and I was very happy with him,” Buick said. “He’s always been a very neat horse physically, very well-balanced. He’s improved from two to three, and I feel he has improved again from the spring to now. Mentally, he is solid. He has a good mind.
“In any year, the Dante winner is never far away in the Derby, and I hope that proves true again this time.”
O’Brien bids for a seventh Irish 1000 Guineas on Sunday when he saddles Winter, the English 1000 Guineas winner, as well as Asking, Roly Poly and Hydrangea. Godolphin field Jim Bolger’s outsider Bean Feasa in the field of eight.
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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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A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
Washmen Profile
Date Started: May 2015
Founders: Rami Shaar and Jad Halaoui
Based: Dubai, UAE
Sector: Laundry
Employees: 170
Funding: about $8m
Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures
Indoor cricket in a nutshell
Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
