Skyfall, with Daniel Craig as James Bond and Judi Dench as MI6 head M. Francois Duhamel / Sony Pictures / AP Photo
Skyfall, with Daniel Craig as James Bond and Judi Dench as MI6 head M. Francois Duhamel / Sony Pictures / AP Photo

5 things to do today: watch the Bond film Skyfall as part of Beach Movie Night and register or go as a spectator for the Students’ Karting Cup

Our daily round-up of things to do. Watch the Bond film Skyfall as part of Beach Movie Night at the InterContinental Abu Dhabi; register or go as a spectator for the Students’ Karting Cup; make plans to attend ARTE Market; book your Valentine’s Day dinner at The Act; and sign up to participate in Talise Rooftop Yoga.

Ellen Fortini

February 04, 2016

Watch the Bond film Skyfall at as part of Beach Movie Night at the InterContinental Abu Dhabi Beach. In this 2012 film, the 24th in the 007 series, James Bond (Daniel Craig) is missing and presumed dead after an operation in Istanbul goes awry. When the identities of every active undercover MI6 agent are leaked online, questions are raised regarding M's ability to effectively manage her department. Wrap up in a blanket, which will be provided, and for munchies, choose from popcorn, ice cream or order off the menu. Parking is free. At 7pm, free, Bayshore Beach Club, InterContinental Abu Dhabi, 02 666 6888, www.facebook.com/InterContiAD

Register for the Students' Karting Cup or go as a spectator. The event takes off tomorrow, February 5, at Al Ain Raceway. More than 100 karting stars, between the ages of 12 and 19, will take part in the first round of the series, which aims to boost talent in karting. ○ Tomorrow, February 5, 10am to 6pm, Dh400 per driver, Al Ain Raceway, Al Ain, www.skcae.com

Make plans to attend ARTE Market, where you will find a variety of locally made gift items and handcrafted products created by members of Artisans of the Emirates, including toys, clothing, accessories, jewellery, home decor and more. Tomorrow, February 5, 10am to 10pm, Oasis Mall, Sheikh Zayed Road, Dubai, www.arte.ae

Book your Valentine's Day dinner at The Act and enjoy a romantic evening, complete with live bohemian-style music by Gipsy Moreno, plus two Peruvian sharing-concept set menus to choose from. February 14, 8.30pm to 3am, The Act, Shangri-La hotel, Sheikh Zayed Road, Dubai, reservations at 04 355 1116 or reservations@theactdubai.com

Sign up to participate in Talise Rooftop Yoga. Held in collaboration with Urban Yoga Dubai, this 90-minute class on the terrace of Emirates Towers is a time to relax and rejuvenate while soaking up the view of Dubai's city lights. February 8, 7.30pm, from Dh50 in advance for Talise Fitness members; Dh85 in advance for non-members, Jumeirah Emirates Towers, Dubai, 04 406 8800, www.talisefitness.com

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The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

UAE currency: the story behind the money in your pockets

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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THE BIO

Age: 33

Favourite quote: “If you’re going through hell, keep going” Winston Churchill

Favourite breed of dog: All of them. I can’t possibly pick a favourite.

Favourite place in the UAE: The Stray Dogs Centre in Umm Al Quwain. It sounds predictable, but it honestly is my favourite place to spend time. Surrounded by hundreds of dogs that love you - what could possibly be better than that?

Favourite colour: All the colours that dogs come in

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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Send “thenational” to the following numbers or call the hotline on: 0502955999
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England squads for Test and T20 series against New Zealand

Test squad: Joe Root (capt), Jofra Archer, Stuart Broad, Rory Burns, Jos Buttler, Zak Crawley, Sam Curran, Joe Denly, Jack Leach, Saqib Mahmood, Matthew Parkinson, Ollie Pope, Dominic Sibley, Ben Stokes, Chris Woakes

T20 squad: Eoin Morgan (capt), Jonny Bairstow, Tom Banton, Sam Billings, Pat Brown, Sam Curran, Tom Curran, Joe Denly, Lewis Gregory, Chris Jordan, Saqib Mahmood, Dawid Malan, Matt Parkinson, Adil Rashid, James Vince

THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now