App of the Week: Turn your smartphone into a remote control


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Ever since 1955 when Zenith introduced the Flashmatic, a glorified flashlight that pioneering couch potatoes used to change channels on their 12-inch consoles, the modern world has been in a torrid love affair with remote controls.

Fifty-six years later, remotes remain joined at our hips - often two or three per hip.

We use them to pause scary movies before mindlessly taking them with us to the bathroom. We throw them in disgust when our team loses, but are careful to aim for a chair or some other cushiony place. When their batteries are almost dead, we'll sit and wait accidentally on Channel 4 until they store up enough juice to get us to Channel 45.

And although smartphones do an excellent job remote-controlling our lives metaphorically, they don't quite fulfil that literal need we all seem to have - the desire to point something at something and make it do something.

The app

Fortunately there's Remote Mouse (Dh7.3, iPhone, iPad, Android) an app that serves as a mouse and keyboard for your desktop when you're more than an arm's length away from your desk.

The details

Though it takes some concentration to set up, Remote Mouse can handle all interface functions on Windows and Mac computers.

Before using it, however, you must download some software on your computer from remotemouse.net so the two devices can wirelessly communicate. Once the desktop software is installed and activated, and both devices are using the same WiFi network, the iPhone app then connects to your computer automatically, displaying a keyboard and trackpad. Move your finger along the trackpad on your smartphone screen, and the mouse on your screen will follow your directions. Reposition your smartphone to landscape mode, and an entire keyboard, with all function keys, will appear.

To "double-click" using Remote Mouse, simply double-tap; to scoll, drag two fingers on your touchscreen.

It will take a few minutes to get the hang of things, but once mastered, you can find many uses for the app, not the least of which is controlling multimedia presentations from a distance using the accelerometer-based mouse functions.

Standing on the shoulders of its 1950s-era predecessors, Remote Mouse would surely make its great-great-great grandfather, Flashmatic, gleam with pride.

Have some great personal finance apps that you want to share? Write to Curt Brandao at cbrandao@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.”