Swedish House Mafia review: EDM titans deliver the hits in fiery show at Abu Dhabi F1

Formula One Abu Dhabi Grand Prix 2022 hosted the latest stop of one of this year's most anticipated world tours.

Ever since reforming an epic set at the Coachella Valley Music and Arts Festival in California in April, Swedish House Mafia have been packing out stadiums across Europe and the US with their brand of uplifting and progressive house music.

The crowd at Etihad Park on Friday night received the full aural and audio treatment with the trio — DJs Steve Angello, Axwell and Sebastian Ingrosso — not skimping when it comes to production.

Swedish House Mafia unveiled their new stage set design, featuring a circular structure resembling a flying saucer, at the 2022 Coachella Valley Music And Arts Festival. AP

They performed under what resembled a tilting flying saucer and a background of frenetic visuals.

The stage also accommodated a massive lighting rig emanating all forms of effects and there were the obligatory pyrotechnics that became more apparent as the set picked up steam.

This was all just as well. The Swedes are not the most charismatic performers and spent most of the set in silhouette.

Then again, no extra song and dance routines are necessary when your set list is packed with some of the genre’s biggest anthems of the past decade.

While Swedish House Mafia returned in April with a solid new album Paradise Again, their set in Abu Dhabi traded heavily on nostalgic sounds.

Beginning with 2012's Greyhound and going on to include bass-heavy monsters Antidote and Miami 2 Ibiza.

With Paradise Again not a major departure from their established sounds, new tracks — such as the shuddering Redlight and the synth-tastic Don't Go Mad slipped easily into the mix.

As they played a major role in The Weeknd's blockbuster album Dawn FM, the group rightfully played their two production contributions, Sacrifice and Moth to the Flame, to the roar of the crowd.

The big emotional release arrived in the end with anthems Don't You Worry Child, For You and Save the World blended together to induce the kind of euphoria that allowed the trio to reclaim their top-tier status after nearly a decade away.

The Abu Dhabi Grand Prix after-race concerts continue on Saturday with Kendrick Lamar, with Def Leppard taking to the stage on Sunday.

Access to after-race concerts is exclusive to Abu Dhabi Grand Prix ticket holders. Tickets are available online at www.yasmarinacircuit.com and through the Yas Marina Circuit Call Centre on 800 927 or 02 659 9800

Friday Family Day at F1 fan zone at Yas Marina Circuit - in pictures

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On Women's Day

Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action

Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?

Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality

The National Editorial: Is there much to celebrate on International Women's Day 2021?

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

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The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km

'Tell the Machine Goodnight' by Katie Williams
Penguin Randomhouse

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.”

Where to buy

Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com

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What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

Tamkeen's offering

Option 1: 70% in year 1, 50% in year 2, 30% in year 3
Option 2: 50% across three years
Option 3: 30% across five years