A UAE resident being cautious. EPA
A UAE resident being cautious. EPA

Coronavirus: wear that facemask



Regarding the report Trump advises voluntary mask use against coronavirus but won't wear one himself (April 4): Dr Anthony Fauci, the infectious disease expert, is right. In fact, wearing face masks has lowered the infection rate in countries like South Korea, Japan, Hong Kong, and Singapore. The World Health Organisation is considering revising its guidelines on face masks and how it can help lower the transmission of viral infection. Face masks are meant — not to protect you from inhaling the particulates — but to prevent a carrier, symptomatic or asymptomatic, from infecting others. If done right, this may prove even more effective than physical distancing in certain scenarios.

Joanne Rico, Head of Marketing and Sales, Bareen Cluster at NMC Healthcare Abu Dhabi

UAE is taking the right steps and doing what is necessary

Regarding the report Coronavirus: Dubai Airports sorts accommodation for stranded passengers (April 3): I have a feeling we will remain indoors until the end of April, maybe longer. The UAE is taking all the necessary tough steps. That much is clear to all. There is a penalty to non-compliance and that is how it should be. It is good that the authorities have such measures in place. It feels safe here. I am truly so proud of the UAE.

Christina Toebast, Dubai

An actress needs to check her attitude

Regarding Emma Day's report 'Put them in the desert': Kuwaiti actress Hayat Al Fahad under fire for telling expatriates to go home (April 2): that statement is shocking. Half of 'these people' built the infrastructure her country depends on and probably most of the hospitals too. She should be "isolated" in the desert for an attitude like that.

Name withheld on request

A hospital inaugurated at impressive speed

Regarding Callum Paton's report Coronavirus: UK's Prince Charles opens NHS Nightingale critical care unit in London (April 3): this has to be commended. The people behind it have put this together with amazing speed and efficiency. Well done.

Cabilin Gerona, Dapitan, Philippines

May testing facilities reveal who is safe to enter the country 

With reference to the report Coronavirus: Almost 3,000 Covid-19 tests conducted at drive-through facility in Abu Dhabi (April 3): it is encouraging to learn about the hi-tech coronavirus mass testing facility set up at Abu Dhabi.

I hope this speeds up the early return of young international students with valid UAE resident visas stranded abroad. Also, whatever the plans are to bring back residents stranded overseas, I hope young students stranded on university campuses are accorded priority over the remaining 29000 residents visa holders.

Further information on this matter would be a very welcome relief to several worried parents in the country like me.

H James, Abu Dhabi

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Married Malala

Malala Yousafzai is enjoying married life, her father said.

The 24-year-old married Pakistan cricket executive Asser Malik last year in a small ceremony in the UK.

Ziauddin Yousafzai told The National his daughter was ‘very happy’ with her husband.

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

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While you're here

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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COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4