KABUL // Militants attacked the American University of Afghanistan in Kabul on Wednesday, killing at least one person and wounding another 18.
Associated Press photographer Massoud Hossaini was in a classroom with 15 other students when he heard an explosion on the southern flank of the campus.
“I went to the window to see what was going on, and I saw a person in normal clothes outside. He shot at me and shattered the glass,” Hossaini said, adding that he fell on the glass and cut his hands.
The students then barricaded themselves inside the classroom, pushing chairs and desks against the door, and staying on the floor. Hossaini said at least two grenades were thrown into the classroom, wounding several of his classmates.
Hossaini and about nine students later managed to escape from the campus through an emergency gate.
“As we were running I saw someone lying on the ground face down, they looked like they had been shot in the back,” he said.
Hossaini and the other students took refuge in a residential house near the campus, and were later safely evacuated by Afghan security forces.
Hedayatullah Stanikzai, an official with the ministry of public health, said a guard employed by the university had been killed and that the wounded included a foreign teacher. University authorities could not immediately be reached for comment.
University president Mark English earlier said security forces had arrived on the scene soon after the attack began around 7pm, saying “we are trying to assess the situation”.
Dejan Panic, the programme director at Kabul’s Emergency Hospital, said 18 people wounded in the attack, including five women, had been admitted. He said three were “seriously” wounded, probably from automatic gunfire.
Police spokesman Sediq Sediqqi said security forces were conducting a clearing operation to track down the “terrorists”. He said it was still not clear if there were one or two attackers.
All other personnel on the campus were being evacuated, he said.
The Pentagon said US military advisers were on the ground with Afghan security forces at the university. Spokesman Adam Stump said the forces had been embedded with the Afghan units.
The attack on AUAF comes two weeks after two university staff, an American and an Australian, were kidnapped from their car by unknown gunmen. Their whereabouts are still unknown.
The university was established in 2006 to offer liberal arts courses modeled on the US system. More than 1,000 students are currently enrolled in degree courses.
The US state department condemned what it called “an attack on the future of Afghanistan”.
“We are in the process of accounting for all chief of mission personnel and working to locate and assist any US citizens affected by these attacks,” it said, adding that it had no further information.
The Taliban have been fighting to overthrow the Kabul government for 15 years, and regard foreign civilians as legitimate targets.
* Associated Press
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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.”