Zoe Saldana, left, as Uhura and Zachary Quinto as Spock in a scene in the movie, Star Trek Into Darkness. Paramount Pictures, Zade Rosenthal / AP Photo
Zoe Saldana, left, as Uhura and Zachary Quinto as Spock in a scene in the movie, Star Trek Into Darkness. Paramount Pictures, Zade Rosenthal / AP Photo

The odd-numbered films face ratings jinx



The internet suggests that Star Trek Beyond might be the title of the new Star Trek movie – the third film in the rebooted franchise and the 13th overall.

We're not sure where you can go that is beyond "where no man has been before". Or, rather, where "no one" has gone before, as writer and star Simon Pegg recently told The Guardian, following the lead of Star Trek: The Next Generation by accepting in the opening narration that by the 24th century, gender equality means that women get equal credit for exploring the universe.

Whether you think of the next film as third or 13th, the number might worry long-time fans. Unlucky 13 has its own connotations, but in purely Star Trek-movie terms, the perceived wisdom is that odd-numbered films are poor, while even-numbered ones are great.

That sounds a bit like Hollywood superstition, and it’s definitely a little simplistic, but there is some statistical basis to the belief.

The highest-rated odd-numbered movies from the original 10 on IMDB are the third, The Search for Spock, and Generations, the seventh movie (which was the first to feature The Next Generation crew, alongside a time-shifted Captain Kirk), which each have a 6.6 rating.

All of the even-numbered movies rate higher than this, with the exception of the 10th, Nemesis, which manages 6.4. The highest-rated of all is number two, The Wrath of Khan, which clocks in with 7.7.

Of course, the reboots technically exist outside of this rule of thumb. J J Abrams's first film – the imaginatively ­titled Star Trek – is technically an odd-­numbered entry but slam-dunked a rating of 8 on IMDB. His sequel, Into Darkness, managed a respectable 7.8.

With Simon Pegg co-writing the third film, whatever it ends up being called, I’m already confident that it will be highly rated – but it is an odd-­numbered entry, so let’s wait and see.

cnewbould@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.”

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Generational responses to the pandemic

Devesh Mamtani from Century Financial believes the cash-hoarding tendency of each generation is influenced by what stage of the employment cycle they are in. He offers the following insights:

Baby boomers (those born before 1964): Owing to market uncertainty and the need to survive amid competition, many in this generation are looking for options to hoard more cash and increase their overall savings/investments towards risk-free assets.

Generation X (born between 1965 and 1980): Gen X is currently in its prime working years. With their personal and family finances taking a hit, Generation X is looking at multiple options, including taking out short-term loan facilities with competitive interest rates instead of dipping into their savings account.

Millennials (born between 1981 and 1996): This market situation is giving them a valuable lesson about investing early. Many millennials who had previously not saved or invested are looking to start doing so now.