Taylor Swift is in the process of re-recording and re-releasing her back catalogue. Courtesy Reuters
Taylor Swift is in the process of re-recording and re-releasing her back catalogue. Courtesy Reuters
Taylor Swift is in the process of re-recording and re-releasing her back catalogue. Courtesy Reuters
Taylor Swift is in the process of re-recording and re-releasing her back catalogue. Courtesy Reuters

Taylor Swift releases unheard song from 'Fearless' era


Selina Denman
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Taylor Swift continues with the re-recording and re-release of her back catalogue with the unveiling of a previously unheard song from her Fearless album, which came out in 2008.

Labelled "Taylor's Version / From the Vault", in reference to that fact that the song is a B-Side that is finally getting some airplay, You All Over Me was released today and features American co-singer Maren Morris performing background vocals. The song is produced by Aaron Dessner and co-written by country songwriter Scooter Carusoe.

“One thing I’ve been loving about these From The Vault songs is that they’ve never been heard, so I can experiment, play, and even include some of my favorite artists,” Taylor posted on Instagram.

While You All Over Me is not as catchy as some of the tunes that have made the Grammy-winning Swift one of the industry's most successful stars, it is a testament to how strong her writing skills were, even as a fresh-faced teenager.

Taylor simultaneously released Love Story (Taylor's Version) – the Elvira Remix, because, she says "in this house we dance and cry at the same time".

Swift is in the process of re-recording and re-releasing a number of her own songs, as part of a public dispute over the rights of her music with powerhouse music manager Scooter Braun. Braun bought and then sold the masters of Swift’s fist six albums in 2019, for a reported $300 million.

She slammed the sale publicly and promised to re-record the original six albums, with the masters under her own control. “Artists should own their own work for so many reasons,” she wrote in a March 2021 Instagram post. “But the most screamingly obvious one is that the artist is the only one who really knows that body of work.”

A re-recording of the rest of her Fearless album is due to drop on April 9. And we can be sure that more unheard music will make its way out of the vault in due time.

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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