Making a happy group on the lawns at Balmoral, are the Queen, the Duke of Edinburgh and their three children Princess Anne, Prince Charles and baby Prince Andrew, on his father's knees. Getty Images
Making a happy group on the lawns at Balmoral, are the Queen, the Duke of Edinburgh and their three children Princess Anne, Prince Charles and baby Prince Andrew, on his father's knees. Getty Images
Making a happy group on the lawns at Balmoral, are the Queen, the Duke of Edinburgh and their three children Princess Anne, Prince Charles and baby Prince Andrew, on his father's knees. Getty Images
Making a happy group on the lawns at Balmoral, are the Queen, the Duke of Edinburgh and their three children Princess Anne, Prince Charles and baby Prince Andrew, on his father's knees. Getty Images

How true is the ‘Balmoral Test’ in ‘The Crown’? The unwritten rules that govern the Queen’s Scottish hideaway


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As season four of Netflix's The Crown debuts to rave reviews (and rumoured royal displeasure), one episode in particular has captured the global imagination.

Titled The Balmoral Test, the second episode in the latest season of the hit show focuses on Balmoral Castle, Queen Elizabeth II's 20,234 hectare acre estate in Aberdeenshire, Scotland, where the monarch heads for two months every summer on holiday.

Royal insiders say that to pass the Balmoral Test, visitors need to participate in all the outdoorsy pursuits come rain or shine. Netflix
Royal insiders say that to pass the Balmoral Test, visitors need to participate in all the outdoorsy pursuits come rain or shine. Netflix

Visited by British prime ministers and various heads of state over the years, the episode follows two very different women – Diana Spencer and Margaret Thatcher – as they navigate the unwritten rules and tests that are said to lie in wait for anyone who visits.

And the question everyone is asking is: is the Balmoral Test real?

In a word: Yes.

"Ever since Queen Victoria bought the estate in 1848, it has had a special place in the affections of the royal family," wrote biographer Andrew Morton in his book Diana: Her True Story – in Her Own Words.

“However, the very quirks and obscure family traditions which have accrued over the years can intimidate newcomers. ‘Don’t sit there’ they chorus at an unfortunate guest foolish enough to try and sit in a chair in the drawing room, which was last used by Queen Victoria. Those who successfully navigate this social minefield, popularly known as the Balmoral test, are accepted by the royal family.”

In the show, Diana Spencer passes the test with flying colours, and biographer Tina Brown agrees the future princess was a huge success during her visit. Netflix
In the show, Diana Spencer passes the test with flying colours, and biographer Tina Brown agrees the future princess was a huge success during her visit. Netflix

Obscure rules and unwritten regulations

"I think Granny is the most happy there. I think she really, really loves the Highlands," revealed Princess Eugenie in the documentary Our Queen At Ninety. And former royal photographer Patrick Anson, also known as Lord Lichfield, who died in 2005, said back in 1972 that at Balmoral, the royal family "act as normal people – to a point".

According to The Telegraph, the unspoken set of social rules and codes include knowing what to wear and when, adhering to royal protocol – who to bow to first, second, third and so on – participating in parlour games, knowing where to sit (and where not to sit), and joining in the many outdoor pursuits come rain or shine.

According to the Queen’s royal biographer, Ben Pimlott, Thatcher referred to trips to Balmoral as “purgatory”, calling the castle and its upper-class environment “a different world".

Margaret Thatcher (played by Gillian Anderson) was said to have disliked being at Balmoral, dubbing it 'a different world'. AP
Margaret Thatcher (played by Gillian Anderson) was said to have disliked being at Balmoral, dubbing it 'a different world'. AP

In The Balmoral Test, Thatcher (played by Gillian Anderson) and her husband, Dennis (Stephen Boxer), are seen puzzling over the separate bedrooms, being upbraided by Princess Margaret for saying "I beg your pardon" ("Say 'what'!" she snaps), and are left wondering what they should wear for "drinks at six, dinner at eight".

Deciding to dress up for drinks, they enter the parlour to find the royal family and friends still in their casual clothes.

Thatcher's biographer, Charles Moore told The Telegraph that the "broad impression" has "the ring of truth".

How Princess Diana passed the test

"The ones who fail (the Balmoral Test) vanish from royal favour as quickly as the Highland mists come and go," Morton wrote in his book. That fate, however, did not befall the young Diana Spencer, who enjoyed her third date with Prince Charles at the castle.

Outdoorsy and upper class, Diana initially fitted easily into life at Balmoral. Getty Images
Outdoorsy and upper class, Diana initially fitted easily into life at Balmoral. Getty Images

"She was a triumph. In the history of Balmoral, no one has ever passed the test with such flying colours," Charles tells Camilla in the show. And biographers agree that upper class Diana successfully navigated the complex social rules that govern the estate.

"The adjectives every witness applied enthusiastically to Diana in these early days of her romance with Charles were 'uncomplicated,' 'jolly,' and 'easy-going'," wrote Tina Brown in The Diana Chronicles. "It was a big plus to Diana's cause that she appeared so happy tramping over sodden moors."

However, Diana's enjoyment of the castle is said not to have lasted very long. After their 1981 wedding, Charles and Diana honeymooned at Balmoral, and the Princess of Wales later revealed in Diana: Her True Story: "Charles used to want to go for long walks around Balmoral the whole time we were on our honeymoon. His idea of enjoyment would be to sit on top of the highest hill at Balmoral."

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- Abdullah Ishnaneh, Partner, BSA Law 

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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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How to increase your savings
  • Have a plan for your savings.
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  • Decide on a financial goal that is important to you and put your savings to work for you.
  • It's important to have a purpose for your savings as it helps to keep you motivated to continue while also reducing the temptation to spend your savings. 

- Carol Glynn, founder of Conscious Finance Coaching

 

 

BULKWHIZ PROFILE

Date started: February 2017

Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)

Based: Dubai, UAE

Sector: E-commerce 

Size: 50 employees

Funding: approximately $6m

Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait