On June 30, 1880, Japanese artist Kawanabe Kyosai went into a photography studio in Tokyo, downed a beverage and began painting with a hemp broom. Four hours later, he had painted a 17-metre curtain for the city's new Shintomi Theatre. The curtain, lined with psychedelic demons and monsters, would later go on to to play a significant role in inspiring the manga movement in Japan, now one of the most popular art forms in the world.
The curtain is on display in a new exhibition at London's British Museum, called The Citi exhibition Manga, which opens its doors to the public on May 23.
The original translation for manga is actually "pictures run riot", associated with the 19th century Japanese artist Katsushika Hokusai, whose drawings of people, animals and nature were published as "Hokusai manga". Since then, the art form has evolved into immersive graphic storytelling and has become a global phenomenon, with the industry turning over £3 billion (Dh14 billion) in 2016.
Originally only popular in Japan, manga has since featured in comics, newspapers, television, gaming, ceramics and even in the Japanese Foreign Office. The exhibition has examples of manga showcased on all of those platforms.
The exhibition includes 162 works by many leading manga artists, including Osamu Tezuka (Astro Boy and Princess Knight), Toriyama Akira (Dragon Ball) and Fumiyo Kono (Gigatown), among others.
Western favourites, such as films Spirited Away and The Wind Rises by Japanese animator Studio Ghibli, also feature in the exhibition.
The exhibition is divided into six parts, the first going into detail about understanding manga through reading, drawing and producing it. Other aspects of the exhibition focus on the history of manga, different styles of storytelling, manga in society and expanding the genre’s boundaries.
According to exhibition curator Nicole Coolidge Rousanmiere, the art form "has always been edgy" and is often used to "tell stories in visceral ways".
"Manga is a type of storytelling mostly for those whose stories haven't been told," she says, speaking at a preview of the event.
Often stories can be political, controversial and relate to emotional struggle. Themes explored in the exhibition works include sexuality, the Rugby World Cup, the Hiroshima bombings and the 2011 Tōhoku earthquake and tsunami.
Other works in the exhibition focus on gender identity. One example is Prince Jellyfish (Kuragehime), a manga series primarily for women, written and illustrated by female artist Akiko Higashimura. The series explores gender and identity through a fictional apartment in Tokyo where only female tenants are allowed.
Higashimura is part of a group of female manga artists that pioneered the Shojo manga movement in the 1970s – which is aimed at a female teenage audience. In Japanese 少女 (shōjo) means "young woman".
But today, a major impact on manga and all of its sub genres, is digitalisation.
Although manga was originally hand-drawn, now approximately 50 per cent of it is drawn digitally on tablets, says Rousanmiere.
Another change in the manga world is that traditional stores that sell the art are closing down. At the centre of the exhibition, there is a rendering of the oldest manga shop in Tokyo, which closed in March 2019.
“Many people have been changing their style from analogue to digital and they’re now publishing very quickly. There are more independent comics – Comiket (the not-for-profit manga convention in Tokyo) is getting bigger – so many things are changing,” Gengoroh Tagame, a manga artist attending the exhibition, says.
Tagame hopes the exhibition will lead to more people understanding the art form internationally. The event looks to immerse its visitors through art work, video and audio interviews with manga artists and editors.
“In manga, the art shows the action before something happens and the aftermath, but it often doesn’t show the point of contact or fall. It does this to engage the imagination,” says Rousanmiere.
“It’s something about the engagement that makes manga special."
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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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