Shah Rukh Khan and Deepika Padukone in Chennai Express. Courtesy UTV Motion Pictures
Shah Rukh Khan and Deepika Padukone in Chennai Express. Courtesy UTV Motion Pictures
Shah Rukh Khan and Deepika Padukone in Chennai Express. Courtesy UTV Motion Pictures
Shah Rukh Khan and Deepika Padukone in Chennai Express. Courtesy UTV Motion Pictures

Shah Rukh Khan: Bollywood actresses do not get the credit they deserve


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Such is the clout the megastar Shah Rukh Khan wields that his every gesture reverberates throughout India, and the latest is no different. Khan recently said that all his films would henceforth show the name of his female lead before his own in the credits.

It’s an attempt to strike a blow for gender equality in Bollywood – where even the most popular female star does not command anywhere near the same salary as her male counterpart.

"King Khan", who reportedly demands US$9 million (Dh33m) per movie, told journalists that women in Bollywood deserve more -recognition. "They work harder, they look better, they keep the film industry together. I honestly think that they do not get the credit they deserve," he said. Khan plans to introduce the practice in his forthcoming film Chennai Express, in which he stars opposite Deepika Padukone.

Reactions have been varied, with some saying he should lobby for equal pay instead of “token gestures”. But for many in the industry, Khan’s announcement is worthy of appreciation.

The filmmaker Raja Menon says it would take time to change deep-seated attitudes but Khan had done the right thing by making a start. “At least it shows that someone is thinking about this inequality,” says Rao. “His decision has set the ball rolling.”

“It’s not only Bollywood that is guilty of such inequalities,” points out the television host Anupama Chopra. “You find this disparity in other spheres all over the country. I truly welcome Shah Rukh Khan’s move because it’s a beginning – the big change can come later.”

Women in Hindi cinema get smaller pay cheques and have a lesser influence, too. Their roles are rarely meaningful, they are limited to providing glamour to the films they are cast in and are regularly made to star opposite actors old enough to be their father.

But there have been recent exceptions, such as Vidya Balan in the bold and much appreciated film The Dirty Picture (2011); Sridevi with her sensitive portrayal of a middle-aged mum struggling with her limited knowledge of English in English Vinglish (2012); and Kareena Kapoor in Heroine (2012), a story about a top actress whose star is on the wane.

Kapoor is now the highest--earning female star in Bollywood but she still makes far less than the boys. According to estimates by industry experts, Kapoor earned around $1.5 million for Heroine, about a tenth of the $11 million cheque Salman Khan got for the film Ek Tha Tiger.

Other top stars such as Aamir Khan and Akshay Kumar charge $10 million and $8.3 million per movie, respectively. Even the ageing warhorse Amitabh Bachchan takes home more money than the average 20-something, A-list -actress.

At a conference in New Delhi last year titled "How does a heroine become the hero?", Kapoor boldly spoke her mind on gender inequality. Kapoor said: "It's always between three or four Khans and a few other male actors. Female actors are there just to dance with them. We have to stand behind Shah Rukh and Salman and say: 'Hey! I'm here, too, give me something to do.' And the pay cheques, what Salman gets and what I get, well, let's not even go there."

Kapoor also referred to Balan as the woman who would smash the salary ceiling. “I don’t get as much as they get [the Khans]. I am not on the same platform as them. But I am going to fight for it. Hopefully, we will get there one day. I am glad that there has been a stellar performance by Vidya Balan [for The Dirty Picture]. She proved to be the ‘hero’ of 2011.”

“Balan’s success has marked a paradigm shift,” agrees the trade analyst Taran Adarsh. “Writers are no longer scared to come up with screenplays for strong female characters. Once you’ve proved yourself at the box office, nothing else counts.”

artslife@thenational.ae

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Michael Kiwanuka

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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.”