For three years, Yuri Cipriano listened intently to the grievances of hundreds of migrant Filipino workers in the Gulf region. As the former chairperson of the UAE chapter of Migrante – a non-government organisation that promotes the rights and welfare of Filipino workers stationed abroad – Cipriano had encountered both the good and not so pleasant stories of his countrymen. These tales would eventually stir the poet in Cipriano, prompting the 37-year-old to present the experiences in verses.
“They would come to us for help and advice, and I realised that there’s not enough assistance being provided to them. So I thought of documenting these issues to give a clear picture of the challenges being faced by the Filipino expatriates,” said Cipriano.
Steadily, the words started flowing and what initially began as blog entries soon grew into something bigger and more ambitious. The result: a 112-page book titled Ang Mahabang Daan Pauwi (The Long Way Home) – a collection of Cipriano’s 51 poems all inspired by everyday life in the UAE.
“I haven’t read any literature that talks about the way of living of the Filipinos particularly in the Middle East and that also motivated me to come up with this book,” he says. “Also, if you would look closely at the poems, they all carry a connection back home although the situations are inspired by what’s happening here.”
Touching from a myriad of subjects, the poems reflect the many facets of emotions ranging from sarcasm, humour, heartbreak, love and hope – all told in mostly free-flowing style.
Cipriano branded his poems as “social commentary” concealed by the play of words. The Dubai-based health and safety coordinator loves to write in the moment, which, according to him, explains why most of the poems are concise and in a limited number of verses.
“I have to put it down in words instantly when inspiration strikes because I tend to forget them,” he explains.
A footnote mentioning the date and location where the poem was written is also listed at the end of every piece. Examples of this include Pikit Mata (With Eyes Closed) written while the author was on-board a Qatar Airways plane; Pag-ibig na Nagbibigay Buhay (Love that Gives Life) written in Kish, Iran; Ang Pangarap ng Pugot na Ulo (The Dream of a Decapitated Head) created in Ras Al Khaimah; and Balikbayan Box (Filipino Luggage), written in Satwa, Dubai.
Ten poems were translated from Tagalog to English. Cipriano admitted toying with the idea of translating all of the poems in English to complement the original. He eventually abandoned the idea.
“The problem with translation is that words and thoughts will surely get lost in the process, and it will be hard to connect to your readers anytime that happens,” he says.
There are plans to release the book in the Philippines. If that happens, Cipriano hopes that Filipinos back home will gain a deeper understanding and appreciation of the OFWs (Overseas Filipino Workers).
“Writing is like giving birth, it’s like you created a new life and my first tendency is to share it with others for them to know what I know and feel,” he says.
True to the book’s inspiration, Cipriano plans to donate the proceeds of the project to distressed Filipinos stranded at the consulate’s office. “I hope to buy them plane tickets so some of them can finally go home to their loved ones.”
For a possible next project, Cipriano is thinking of gathering a handful of UAE-based Filipino writers to contribute for a book project.
“We will compile all of their writings, and profits from the sale of the book will be channelled to Filipinos who are in need.”
Ang Mahabang Daan Pauwi (Successful Pinoy Ako Publishing, Dh65) is out tomorrow. To order a copy, email oikodome@gmail.com or call 050 784 6400
artslife@thenational.ae
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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.”
