Yamla Pagla Deewana 2 is getting its world premiere next month in Dubai. Courtesy Dharmendra
Yamla Pagla Deewana 2 is getting its world premiere next month in Dubai. Courtesy Dharmendra
Yamla Pagla Deewana 2 is getting its world premiere next month in Dubai. Courtesy Dharmendra
Yamla Pagla Deewana 2 is getting its world premiere next month in Dubai. Courtesy Dharmendra

Yamla Pagla Deewana 2 to premiere in Dubai next month, says Deol


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The Bollywood action comedy Yamla Pagla Deewana 2 will get its world premiere in Dubai next month. "In Dubai, the film releases on Wednesday, June 5 and we [the principal cast and crew] will go there," announced the film's lead Sunny Deol. The next day, Deol said, they fly to Birmingham, England, for another screening. "Because that's where we shot the entire film," he said. "So why not go there as a thank you gesture and be with people who are part of it." Directed by Sangeeth Sivan, Yamla Pagla Deewana 2 also stars Dharmendra, Bobby Deol and Anupam Kher. *IANS

Sherlyn Chopra gears up for Cannes debut with gowns reflecting her country

The actress Sherlyn Chopra, set to attend this week's Cannes Film Festival, says she will wear seven made-in-India gowns in her seven-day appearance at the event. Chopra is attending the French festival alongside the director Rupesh Paul and the producer Mitesh Kumar Patel. "To be making my debut at Cannes at the time of the celebration of the 100 years of Hindi cinema is going to be an incredible experience that will truly enrich and enlighten me," Chopra said in a statement. "I can't wait to doll up in various Indian avatars at the most prestigious film festival." The seven outfits represent local attire in Kerala, Rajasthan, Gujarat, Tamil Nadu, Kashmir, Assam and Bengal. *IANS

Ganesan wants to cast Salman Khan as superhero in his next production

The Shortcut Romeo director Susi Ganesan is already working on his next project, a 3-D superhero action film. He says he wants to cast the Bollywood superstar Salman Khan for the lead role. "We are looking for an A-lister. Due to the social message in the film, I am thinking of Salman Khan," Ganesan told reporters. The shooting for the yet-untitled film is scheduled to begin later this year. Ganesan added: "The script is already done. It will release next year." The director is currently gearing up for the release of Shortcut Romeo, which will also screen at this week's Cannes Film Festival. A remake of Ganesan's Tamil film Thiruttu Payale, the Hindi version stars Neil Nitin Mukesh, Puja Gupta and Ameesha Patel. *IANS

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Who has won major titles since Wimbledon 2003 when Roger Federer won his first grand slam

Roger Federer 19 (8 Wimbledon, 5 Australian Open, 5 US Open, 1 French Open)

Rafael Nadal 16 (10 French Open, 3 US Open, 2 Wimbledon, 1 Australian Open)

Novak Djokovic 12 (6 Australian Open, 3 Wimbledon, 2 US Open, 1 French Open)

Andy Murray 3 (2 Wimbledon, 1 US Open)

Stan Wawrinka 3 (1 Australian Open, 1 French Open, 1 US Open)

Andy Roddick 1 (1 US Open) 

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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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