The Dubai-based aerial acrobats Valeria Baigacheva and Mario Mira have joined the Russian artist Tatiana Ruzova to perform the Aerial Silk Spectacular routine for visitors at the Mall of the Emirates this week.
The show by OffBroadway Entertainment offers a combination of old and new circus tricks, from floor acrobatics to climbing silks, in a display of breathtaking drops, flips and spins. Mira says he has recently developed a new drop called the Bird of Paradise, which should be ready for public viewing by the end of the month. We got hold of the artists for a rapid-fire round.
Have you performed in a mall before?
We have performed in many malls in the Emirates and abroad, but our experience at the Mall of the Emirates has been the best so far.
What is the preparation like before each show?
We take about an hour and a half to prepare before a show, beginning with hair and make-up and moving on to warm-up and stretching techniques to ensure our muscles are ready to perform intricate moves and positions. We do a technical safety check to secure our silks 15 minutes prior to performing.
Have you had any funny incidents during a show?
During one performance we were transitioning into another move but misjudged the height and Valeria’s foot ended up in Mario’s mouth.
Do people try talking to you during the act?
No, but we have people cheer us on and watch in fascination.
If not an acrobat, what would you be?
We cannot imagine doing anything other than this.
What is the worst thing about the job?
The worst thing would have to be when the show ends, the magic ends. But the memory of the show remains with the audience.
• The Aerial Acrobats perform daily at 5pm, 7.30pm and 9.30pm until Friday at the Mall of the Emirates
aahmed@thenational.ae
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October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
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March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
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November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
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November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
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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.
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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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