Do politicians not see the suffering on both sides?

With regard to Soraya Ebrahimi's report Rishi Sunak and James Cleverly visit Israel and wider region (October 19): Will Rishi Sunak pay a visit to the bombed Al Ahli hospital and see the injured children on both sides or does he just want to see the politicians and secure his seat?

Haseeb Ahmedi, Abu Dhabi

Thousands of innocent Palestinian women, children, old, young and unarmed are being murdered in cold blood by the Israeli occupation. When does this come to an end? Where are the human rights? Why does the world pretend to be blind?

Rahma Al Janidi, Dumyat, Egypt

America's support for Israel

With reference to James Zogby's op-ed How the US missed a chance to nip the Israel-Gaza war in the bud (October 17): It was never the US’s interest to “nip it in the bud".

Leila Almaeena, Dubai

War on children

About Shelina Janmohamed's op-ed In 100 years, what will children have learnt from Palestine and Israel? (October 19): The world is witnessing a tragedy in the Gaza Strip. Israel is galvanising to strike a lethal blow due to the unwarranted incursions made by the Hamas on October 7. So, once again, civilian men, women and children will be killed. An entire generation could be wiped out. An army of orphans will be created, full of bitter memories. This could have been avoided. Israel was constituted with the blessings of the UN. If Hamas or Palestinians still wish to contest this, they have to go to the UN or to an international Court. Slaughtering civilians, on either side, will not solve the problem.

Rajendra Aneja, Dubai

Even before the world could do enough for children suffering in war-affected Ukraine and several other nations, deadly attacks were witnessed in Israel and Gaza. Innocent civilians, including children, are suffering on both sides. This war has a high risk of spreading tension among neighbouring countries and involving powerful nations. Certainly, the world cannot afford another war. Nations, leaders and global citizens need to think and act rationally. Impulsive acts and emotional decisions can lead the entire world to catastrophe.

Ruhail Choudhury, Kolkata, India

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.”