The members of the French electronic music duo Daft Punk. Robyn Beck / AFP Photo
The members of the French electronic music duo Daft Punk. Robyn Beck / AFP Photo
The members of the French electronic music duo Daft Punk. Robyn Beck / AFP Photo
The members of the French electronic music duo Daft Punk. Robyn Beck / AFP Photo

TV documentary dives deep under Daft Punk’s helmets


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The mystery surrounding Daft Punk, the star French musical duo who usually keep their identities hidden under full-face robot helmets, will be lifted a little in a new TV documentary, which will premiere next week.

Daft Punk Unchained, made by BBC Worldwide France and to be shown on France's Canal+ network next Tuesday, uses rare archive footage and interviews with friends, producers, ­journalists, DJs and high-­profile fellow artists such as Pharrell Williams and Kanye West to trace the rise of the pair who made 2013's phenomenal global hit Get Lucky.

The two members of Daft Punk, Thomas Bangalter, 40, and Guy-Manuel de Homem Christo, 41, gave unprecedented approval for the 85-minute documentary.

Normally reticent to talk to media, their voices are heard in excerpts lifted from some rare past interviews. In keeping with the enigmatic aura they have cultivated, they largely leave the way they are portrayed to others.

The documentary gives a chronological rundown of Daft Punk’s 20-year career.

It recounts their false start as Parisian youngsters in a 1992 rock band called Darlin’ that earned them a poor review in a British music magazine dismissed their efforts as “daft punky thrash” – and how they ended up appropriating that as their name as they embarked into electronic dance music.

Da Funk, their first commercial hit that came out in 1995, launched them into international stardom. In a break with industry practices at the time, they kept artistic control and were willing to eschew money from their record label Virgin to maintain it.

The 1997 video clip for their next big hit, Around the World, saw them donning spray-­painted motorbike helmets to lend them a robotic air.

Afterwards, they kept the look and took it further, with custom helmets, to build their image, maintain their mystique – and to be able to take them off and escape the problems of fame whenever they liked.

“We have daily lives that are a lot more normal ... than the lives of artists who have the same level of fame as us but who might be attached to being physically recognised,” Bangalter says in an excerpt included in the ­documentary.

"Weirdly, the invention of the robots is what allowed them to stay human, to stay completely free," the chief editor of the French music magazine Inrocks, Jean-Daniel Beauvallet, explains in the film.

At the other end of the spectrum, the documentary shows Williams and West, two big music stars who have worked with Daft Punk but who actively court publicity.

Beyond the helmets that have become the symbol of the French pair, Daft Punk’s ­unbending refusal to compromise musically has become their signature.

They have taken financial risks, such as producing an animation film by Japanese anime master Leiji Matsumoto, ­Interstella, with the music from their second album Discovery as the soundtrack.

“Daft Punk is a group in the history of pop music that perfectly incarnates the desire to stand up for their vision no matter what it costs, not for narcissism but to realise their dreams,” said the documentary’s director, Herve Martin-­Delpierre.

Despite losing some fans with their rushed third album Human After All in 2006, the duo bounced back a year later by staging a superlative light and mash-up concert at the ­American music and arts ­festival Coachella.

For their album Random Access Memories, Daft Punk went bigger than before by recording in a commercial studio – rather than their makeshift rig at home – and bringing in Williams and Nile Rodgers, a top-line ­producer who cofounded the 1970s ­disco band Chic.

The release brought Daft Punk five Grammy awards – including album of the year and record of the year for Get Lucky – and went platinum, helping to lift their total album sales worldwide to 12 million.

* AFP

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.”