Plan to participate in Carols in the Desert, the traditional Abu Dhabi Christmas-spirit event organised by St Andrew’s Church in Abu Dhabi. Courtesy St Andrews Church
Plan to participate in Carols in the Desert, the traditional Abu Dhabi Christmas-spirit event organised by St Andrew’s Church in Abu Dhabi. Courtesy St Andrews Church

5 things to do: Plan to participate in Carols in the Desert or hear a talk by Jason Silva in Dubai

Our daily round-up of things to do: Plan to participate in Carols in the Desert; Hear a talk by Jason Silva at Café Scientifique Dubai; Attend Cosmic Winter Fest at Galeries Lafayette Le Gourmet; Take part in a workshop designed to raise awareness about the capabilities of children with disabilities; or see the film Eames: The Architect and the Painter as part of the Alserkal Avenue and Cinema Akil film-screening series Where We Dwell.

Ellen Fortini

December 10, 2015

Plan to participate in Carols in the Desert, the traditional Abu Dhabi Christmas-spirit event organised by St Andrew's Church, complete with a designated barbecue area. Bring warm clothes, food and drink, chairs, blankets and torches. Tomorrow from 4pm, convoys leave Zayed Sports City Ice Rink and International School of Chouiefat, Khalifa City, Abu Dhabi, at 3pm, with fires lit at 5pm, free, 050 827 1604, johnw@standrewauh.org

Hear a talk by Jason Silva at Café Scientifique Dubai. The Emmy-nominated host of National Geographic Channel's hit TV series Brain Games will discuss Shots of Awe, his film series that explores innovation and the metaphysics of the imagination. From 3pm to 4pm, free with registration, Urban Bistro, CNN Building, Dubai Media City, register at www.cafescidubai.com

Attend Cosmic Winter Fest at Galeries Lafayette Le Gourmet, with workshops on Christmas tree decoration, festive card-making, stocking making, table set-up and more. There will also be dancing, carol singing and treats. From 1pm to 6pm, Galeries Lafayette, The Dubai Mall, www.galerieslafayette-dubai.com, 04 339 9933,

Take part in a workshop designed to raise awareness about the capabilities of children with disabilities. Make items celebrating the rich heritage of the UAE with students of an Abu Dhabi-based centre for those with special needs. From 11am to 5pm, Khalidiya Palace Rayhaan by Rotana, Abu Dhabi, 02 657 0227, marketing.khalidiya@rotana.com

See the film Eames: The Architect and the Painter as part of the Alserkal Avenue and Cinema Akil film-screening series Where We Dwell, which focuses on the concept of home. The film features designers Charles and Ray Eames, a husband and wife who were America's most influential industrial designers. At 7pm, A4 Space, Alserkal Avenue, Al Quoz, Dubai, www.cinemaakil.com

listings@thenational.ae

THE SIXTH SENSE

Starring: Bruce Willis, Toni Collette, Hayley Joel Osment

Director: M. Night Shyamalan

Rating: 5/5

Company%20Profile
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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.”

Teams

Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq

Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi

Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag

Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC

Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC

Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan

Venue Sharjah Cricket Stadium

Format 10 overs per side, matches last for 90 minutes

Timeline October 25: Around 120 players to be entered into a draft, to be held in Dubai; December 21: Matches start; December 24: Finals

UAE currency: the story behind the money in your pockets
Blackpink World Tour [Born Pink] In Cinemas

Starring: Rose, Jisoo, Jennie, Lisa

Directors: Min Geun, Oh Yoon-Dong

Rating: 3/5