Shah Rukh Khan in an undated photo with his son Aryan and daughter Suhana.Courtesy Shah Rukh Khan
Shah Rukh Khan in an undated photo with his son Aryan and daughter Suhana.Courtesy Shah Rukh Khan
Shah Rukh Khan in an undated photo with his son Aryan and daughter Suhana.Courtesy Shah Rukh Khan
Shah Rukh Khan in an undated photo with his son Aryan and daughter Suhana.Courtesy Shah Rukh Khan

Shah Rukh Khan tops Father's Day poll by Shaadi.com


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Shah Rukh Khan tops Father’s Day poll

Shah Rukh Khan has been voted India's most popular father. As a doting dad to his son Aryan and daughter Suhana, Khan came on top in a survey conducted by Shaadi.com to mark Father's Day yesterday. Of the 11,000 women who voted, 35 per cent chose Khan, Amitabh Bachchan came second with 32 per cent of votes, with the cricketer Sachin Tendulkar trailing in third with 19 per cent. "This suggests that people are looking at celebrities as real people with real relationships," said Shaadi.com's chief Gourav Rakshit. – IANS

Ameesha Patel finds anti-hero role tough

Ameesha Patel says playing a villain in her latest movie Shortcut Romeo was an emotionally and physically draining experience. "[An] anti-hero role is always challenging," said Patel, 38. "Like Shah Rukh Khan's roles in Baazigar and Darr – whenever you break a norm to do something, it is always challenging. To look like a sophisticated woman while in a negative role is a tough job because you might cross the line and look like a vamp." Shortcut Romeo, which also stars Neil Nitin Mukesh and Puja Gupta, is scheduled for release this week. – IANS

Kiran Rao: Ship of Theseus imparts message

Kiran Rao, the producer of Ship of Theseus, says the movie teaches a valuable lesson to the audience. "The film has an interesting and an important message, which will impress everyone about how we can live our lives better," she said. Rao, who is the wife of the actor Aamir Khan, said if his schedule permits, her husband may help promote the film. Directed by Anand Gandhi, Ship of Theseus is a drama about a blind photographer, a terminally ill monk and a stockbroker. The movie premiered to glowing reviews at the Toronto International Film Festival. – IANS

Tamil actor R Manivannan dies

The popular Tamil actor, writer and director R Manivannan, whose career spanned more than 400 films, has died at the age of 58 following a cardiac arrest. Manivannan died at his home in Chennai on Saturday, a family friend said. He is survived by his wife, son and a daughter. Manivannan, who also directed more than 50 movies, was a much-admired character actor, usually playing the hero's uncle or father, with memorable roles in films such as Mudhalvan and Sangaman.
– IANS

K?S Ravikumar’s next film a remake of his own

The Tamil director KS Ravikumar is planning to remake another of his own movies, although he refused to reveal which one. Ravikumar has reshot his film Saamy in Hindi, turning it into Policegiri, starring Sanjay Dutt, which is scheduled to release on July 5. "After Policegiri, my next film will be a remake of my own film," he told reporters. He added he was in talks "with few A-list actors" about the movie.
– IANS

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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.”

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