The Royal Academy of Arts's annual Summer Exhibition opened in London yesterday, just in time for those still enjoying an Eid getaway in the British capital.
The 251st year of the world’s oldest open-submission exhibition has been curated by British painter Jock McFadyen, who takes the reins from Grayson Perry, last year’s co-ordinator.
Anyone can submit a work of art to be included and this year, 16,000 entries were whittled down to 1,500 by the Summer Exhibition Committee. Most of the work displayed is on sale, with prices ranging from a few hundred pounds to over £100,000 (Dh467,900). The National was invited to preview the exhibition and even treated to a tour by McFadyen, who chose the theme "art that describes the world".
All creatures great, small… and disturbing
“Some people have got it stuck in their minds – an old-fashioned idea – that the Summer Exhibition is pictures of cats and dogs. So, I wanted to face the demons of that and say OK, gorillas, alligators, parrots, tigers – everything,” says McFadyen.
Entering the Wohl Central Hall, there is every animal imaginable, even some that are unimaginable, including a bronze hybrid beast with no head and two tails. Created by Charles Avery, the untitled work is unsettling but “fascinating”, McFadyen says.
David Mach’s sculpture of a prowling tiger baring its teeth is given a Scottish twist, dressed in Tunnock’s tea cakes wrappers.
Brexit
Anonymous artist Banksy submitted another Brexit-themed entry to this year's exhibition. KEEP OU features a padlocked customs arch taken from Heathrow Airport that has a rat spray-painted on it. It appears to be trying to break through the door with the missing letter T. "We had a lot of works sent in [on Brexit]," McFadyen says. A lot of it was mock-ish and obvious, but this is quite subtle. It just says it all."
Last year, Banksy – who is a known critic of Britain's vote to leave the EU – sent in a "Vote Leave" poster altered to read "Vote to Love". The work was priced at £350 million (Dh1.6 billion), a reference to a now-rubbished claim made by Vote Leave that the UK spends that much per week on EU membership.
Special invitations
As well as sorting through thousands of entries, Royal Academician McFadyen asked some of his favourite artists to submit work. One particularly moving piece by John Davies features life-size figures of people the artist knew who have died, including his own parents. McFadyen had to persuade Davies, whom he describes as a "bit of a recluse", to submit an entry that now occupies pride of place in Room VI of the Main Galleries.
Another one of McFadyen’s special invitations was to Hannah Collins, who created two works featuring Nelson Mandela’s birthplace. “She goes all over the world taking these photographs of interesting and intriguing places that have great resonance and significance,” the curator says.
The prints show the road to Mandela’s birthplace and the house that he lived in until he was 15, and where his placenta is buried.
‘Lyrical next to the Brutal’
In Room III, a large painting of a South London council block by artist David Hepher, 84, hangs at the back next to portraits of picturesque countryside. "In London, you see some terrible local authority housing and then you turn around and see beautiful Georgian houses," McFadyen says. "I wanted this [the gallery] to be like that, so you have the lyrical next to the brutal."
A sustainable future
The environment is another important theme in the exhibition, with Barbara Rae's paintings of the melting ice caps in Greenland creating a sombre mood in Room V.
In the architecture gallery, where the theme of sustainability is explored by Royal Academician Spencer de Grey, the atmosphere is more hopeful. Real trees surround models of environmentally friendly buildings placed on specially sourced, sustainable MDF.
The recent climate change protests, which began in the British capital and spread across Europe, have given de Grey a reason to feel optimistic about the future. "On the whole, I feel positive," he tells The National.
“Nothing is perfect, but I think architects, by and large, are trying quite hard, and that’s what this exhibition is about.”
The Royal Academy's Summer Exhibition runs until August 12
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4. Daniel Ricciardo, Red Bull 177
5. Kimi Raikkonen, Ferrari 138
6. Max Verstappen, Red Bull 93
7. Sergio Perez, Force India 86
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More coverage from the Future Forum
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.”
'The Sky is Everywhere'
Director:Josephine Decker
Stars:Grace Kaufman, Pico Alexander, Jacques Colimon
Rating:2/5
TOUCH RULES
Touch is derived from rugby league. Teams consist of up to 14 players with a maximum of six on the field at any time.
Teams can make as many substitutions as they want during the 40 minute matches.
Similar to rugby league, the attacking team has six attempts - or touches - before possession changes over.
A touch is any contact between the player with the ball and a defender, and must be with minimum force.
After a touch the player performs a “roll-ball” - similar to the play-the-ball in league - stepping over or rolling the ball between the feet.
At the roll-ball, the defenders have to retreat a minimum of five metres.
A touchdown is scored when an attacking player places the ball on or over the score-line.
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German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
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THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
The Lowdown
Us
Director: Jordan Peele
Starring: Lupita Nyong'o, Winston Duke, Shahadi Wright Joseqph, Evan Alex and Elisabeth Moss
Rating: 4/5
Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding
Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.
Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.
Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.
For more details, email openminds@cultures.ae or visit www.cultures.ae
'Ashkal'
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TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
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