For the experiment, compounds, called flavanols, were extracted to create a specially prepared cocoa drink. iStockphoto
For the experiment, compounds, called flavanols, were extracted to create a specially prepared cocoa drink. iStockphoto

Research links cocoa flavanols to better memory



Cocoa is good for you – but that does not mean you should eat more chocolate, say scientists.

Bioactive ingredients that appear to be contained in cocoa were found to sharply reverse age-related memory decline in a group of volunteers.

The compounds, called flavanols, were taken in a specially prepared cocoa drink, according to an experiment published by the journal Nature Neuroscience.

For three months, 37 healthy volunteers between the ages of 50 and 69 took a daily drink containing either a high dose of flavanols – 900 milligrams – or a low dose – 10mg.

Researchers carried out brain imaging, measuring blood volume in a key part of the hippocampus called the dentate gyrus – a region of the brain that deals with memory formation, the performance of which typically declines as we age.

Researchers also carried out memory tests before and after the volunteers began taking the drink.

The high-flavanol group notched up major memory improvements and an increase in blood flow to the dentate gyrus.

“If a participant had the memory of a typical 60-year-old at the beginning of the study, after three months that person on average had the memory of a typical 30- or 40-year-old,” says Scott Small, a professor of neurology at Columbia University Medical Center in New York.

More work, in a bigger test group, is needed to verify these early findings, he adds.

Flavonols have generated great interest among scientists. They dangle the tantalising possibility of tackling age-related memory loss in the world’s fast-growing population – the elderly – without using drugs.

The compounds exist in grapes, blueberries and other fruit, as well as in certain vegetables and teas, but the type of flavanol and the amount vary widely depending on the source.

Previous studies in mice have shown that the class of flavanols found in cocoa boosts the performance of the dentate gyrus.

“The dentate gyrus in humans and mice are very similar,” says Small. “I suppose that our study does show, for the first time, that flavanols improve the function of humans’ dentate gyrus, particularly in ageing humans.”

The findings apply to normal age-related memory loss – things such as forgetting names of new acquaintances or where we left our glasses – which usually becomes noticeable when people reach their 50s or 60s. They do not apply to memory loss caused by disease, such as Alzheimer’s.

The cocoa drink was prepared by a large American food corporation, which partly supported the research. The firm used a proprietary process to extract the flavanols from cocoa beans, because under conventional processing, most of the flavanols are lost from the raw plant.

Small says it is too early to make dietary recommendations for flavanols.

“Certainly I would not suggest that people consume more chocolate. That would be a mistake,” he says. “Very simply, the amount of flavanols that are found in chocolate is minuscule compared to the very high amount of extracted flavanols that our subjects consumed. The same is true for most other foods or teas.

“Hopefully, in the future, a food source or a specific diet will be identified that contains very high amounts of the specific flavanols we studied.”

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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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