Star power may save lives

I am sure many people are excited about the big-name musical acts who are coming to Abu Dhabi for the festivities surrounding the Formula One race (Singing on the sand, October 28).

My personal favourite is Cee Lo Green. I have been following his career since he made such a splash with Gnarls Barkley, so it will be a great thrill to finally see him perform live.

On a more serious note, it occurred to me that while these stars of the music world are here, along with the big names of motorsport, they should be encouraged to make some community service announcements.

In particular, it would be fantastic if those who are here for a celebration of fast cars could make some television and radio spots about road safety.

In light of recent tragedies, anything that drives home the message that speeding is for the racetrack, not for public roads, would be greatly appreciated.

I hope it will also be effective, especially with young drivers.

R McGrath, Abu Dhabi

Recycling a must but it's not easy

I was very pleased to read Hotels give waste five-star treatment (October 28), and I applaud the efforts of the companies involved.

There is no doubt that recycling is the way forward, not just for businesses but for ordinary families, too.

Of course, at the moment it is nearly impossible to find facilities for recycling, and the temptation to throw paper, plastics and other recyclables in with general waste is often too great.

I look forward to the day when recycling bins are an essential part of the landscape here in the UAE.

J Rogers, Dubai

Adult education needs support

The number of dropouts from adult education is certainly a worry (Thousands let down by schools for adults, October 28).

Education is the key to the future, and this is an area that deserves immediate, high-level attention.

Charles Bryant, Abu Dhabi

Banks should put focus on service

I enjoyed reading Alice Haine's The one thing I really want to bank on: service (October 27).

The banks are in a rat race, competing with each other on interest rates, charges and various confusing features.

The basic thing they need to look at is service. I think the banks will go back to basics one day.

S Gupta,Sharjah

Time for action to help Rohingya

While Muslims across the world were celebrating Eid on Friday, Muslims in a Rohingya village in Myanmar were denied such basic requirements as food and water (Fears for Rohingya in Myanmar violence, October 28).

Decades-old discrimination from both the Government and the majority in the community has left hundreds of thousands of Rohingya people pondering their very survival.

Humanitarian aid groups working in the country are struggling.

The Government in Myanmar, a country where a large number of ethnic groups exists, must respect calls to end the violence.

It is high time for the United Nations to intervene to normalise the situation as quickly as possible.

Ramachandran Nair, Oman

Web presence a business priority

In reference to Online SMEs struggle to make their presence felt on web (October 17), small to medium businesses need to adopt and adapt to technology - and especially the power of the internet.

According to research, more than 70 per cent of potential customers search for product information online.

If your web presence is substandard, you are probably leaving a lot of business on the table.

Mohammed Poonawalla, Dubai

Taking the hive to a new high

I refer to Busy bees build a home on the wing (October 28), which told of a beehive found on a parked aircraft.

Now there's a faster way of exporting honey.

S Galindo, India

An important word from Down Under

Horsemaster to show the Aussies just how it's done (October 28) was a fun read for those of us interested in the equestrian world.

I was amused, however, to see the use of the term "Aussie cowboys".

In Australia, a cowboy doesn't ride horses, he sells used cars of disputed provenance to overly credulous customers.

Brian Dunne, Dubai

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.”

A State of Passion

Directors: Carol Mansour and Muna Khalidi

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Star power may save lives

A reader says musicians visiting for the F1 festivities could do their bit to spread the road safety message. Other topics: adult education, recycling and banks.

A State of Passion