Still able to hit those high vocal notes, Matthews never wavered on the more difficult guitar riffs. Sarah Dea / The National
Still able to hit those high vocal notes, Matthews never wavered on the more difficult guitar riffs. Sarah Dea / The National
Still able to hit those high vocal notes, Matthews never wavered on the more difficult guitar riffs. Sarah Dea / The National
Still able to hit those high vocal notes, Matthews never wavered on the more difficult guitar riffs. Sarah Dea / The National

Dave Matthews Band in concert: 20 years on and still having fun


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More than twenty years after the release of Under The Table and Dreaming — Dave Matthews Band's first studio album — the guys can still rock.

The band played to an intimate crowd of loyal fans last night during their debut performance in the UAE. And though they might not have filled Abu Dhabi’s du Arena to the extent of their predecessors — I was told by one staff member that the field was filled to the very back for Bon Jovi — you’d have barely noticed.

Starting the evening off with One Sweet World, the crowd was surging with excitement from the first note. Even the enthusiasm and positive vibes that seemed to flow from the stage were contagious. It was clear, even after all these years, the group still has fun playing together.

The group moved effortlessly through Satellite and eventually onto Don't Drink The Water, two demanding tracks. Matthews, however, proved that though he's inching closer to 50, he's still got it. Still able to hit those high vocal notes, Matthews never wavered on the more difficult guitar riffs.

Boyd Tinsley, the group’s violinist, spent much of the evening roving around the stage with a certain exhilaration, while adding to the band’s distinctive sound. If he wasn’t having a blast last night, he was doing a stellar job of disguising it.

As the band moved from popular tracks like Crush, The Space Between, What Would You Say, and Why I Am, Matthews took his time to thank the audience for coming out to see them. "I'm already sweating up here" he joked, early in the set. It's true that the weather turned unfortunately humid and warm, but nobody seemed to mind.

Eventually, there was a single hit of the drum from Carter Beauford, bringing the crowd to a cheer. Ants Marching — the track most of us has been waiting for all evening — closed the main set.

The crowd remained. The chant "We want more!" began to rise and the band obliged, ending the evening with the group's well-known rendition of All Along The Watch Tower.

Though some long-time fans might have been disappointed by the absence of Say Goodbye, Two Step, and Crash Into Me, the evening's performance was a true embodiment of Dave Matthews Band. Laid back and effortlessly cool, us long time fans got exactly what we came for. With no sign of slowing down, it leaves one wondering what the guys will have in store for us over the next twenty years.​

alane@thenational.ae

RACE CARD

6.30pm: Handicap (TB) $68,000 (Dirt) 1,600m

7.05pm: Meydan Sprint – Group 2 (TB) $163,000 (Turf) 1,000m

7.40pm: Curlin Stakes – Listed Handicap (TB) $88,000 (D) 2,200m

8.15pm: UAE Oaks – Group 3 (TB) $125,000 (D) 1,900m

8.50pm: Zabeel Mile – Group 2 (TB) $163,000 (T) 1,600m

9.25pm: Balanchine – Group 2 (TB) $163,000 (T) 1,800m

10pm: Al Shindagha Sprint – Group 3 (TB) $130,000 (D) 1,200m

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.”

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

MATCH INFO

Uefa Champions League last 16, second leg
Liverpool (0) v Atletico Madrid (1)
Venue: Anfield
Kick-off: Thursday, March 12, midnight
Live: On beIN Sports HD

Episode list:

Ep1: A recovery like no other- the unevenness of the economic recovery 

Ep2: PCR and jobs - the future of work - new trends and challenges 

Ep3: The recovery and global trade disruptions - globalisation post-pandemic 

Ep4: Inflation- services and goods - debt risks 

Ep5: Travel and tourism