Perhaps the cutest thing about The Wizard of Oz musical that opens today in Dubai’s Madinat Theatre is that the role of Toto, the dog, is played by two pups.
Adapted from the 1939 Academy Award-winning musical, which was based on the children’s book by L Frank Baum, the show is being presented by Popular Productions and celebrates the 75th anniversary of the film.
John Payton, the director, says he wanted Toto to have as much personality as any of the other characters, and a doggy casting call was duly made in Dubai earlier this year. Of the 13 shortlisted canines, nine-month-old Pepper and five-month-old Jack, were chosen for their temperament. Pepper is a Jack Russell shih tzu and Pepper is a yorkiepoo, and they take turns to perform in alternate shows.
“They have been in rehearsals with the cast for quite some time, and have adapted well to the busy schedule,” says Payton. “Jack and Pepper are brilliant little characters.”
The musical, which boasts all the original songs in the film (Somewhere over the Rainbow is on the list, of course), has not been easy to direct.
“The most challenging aspect was to find the correct balance between a stage show and a presentation of a movie live on stage,” says Payton. “There are so many famous scenes that the audience expects, yet I wanted to present a musical that feels fresh.”
In fact, he promises a scene in which the wicked witch dies, and “melts right before your eyes”.
The 28-year-old British stage actress Elizabeth Carter (pictured), who plays the 14-year-old Dorothy, is thrilled about her role, not least because she gets to hang out with the two adorable puppies.
“Dorothy dreams of this magical world and to live it out,” explains Carter, who has previously performed in the UK stage productions of Dreamboats and Petticoats and Save the Last Dance for Me. “She steps into this world of possibilities. I think it resonates with me because I’ve always dreamt of being an actress. The movie made me believe that you can live your dreams.”
And while she feels that all the characters are equally entertaining – “Scarecrow is clumsy, Tin Man and Lion are so funny, it is hard to pick” – she is most excited about the “magic” shoes Dorothy gets to wear.
“I get to slip on those ruby slippers,” says Carter. “The wardrobe department has done a great job of making my dance shoes all sparkly.”
• The Wizard of Oz is at Madinat Theatre in Jumeirah from today until April 18. Tickets are priced at Dh200; call 04 366 6546 to book. For more information, visit www.wizardofozlive.com
aahmed@thenational.ae
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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