Kylie Jenner, 24, has announced she is pregnant with her second child with rapper boyfriend Travis Scott.
The beauty entrepreneur shared a video to Instagram confirming the news, after weeks of speculation.
The 90-second video shows many personal moments from her pregnancy journey so far, including her positive test, the moment she told Scott, the family on the way to the doctor for their first scan with daughter Stormi, 3, in tow, and them sharing the news with Jenner’s mother, Kris Jenner.
“Stormi, we are going to have a baby,” Kris says to her granddaughter as she is handed scan photos. “This is one of the happiest days of my life.”
The video also includes footage from Jenner’s recent 24th birthday party, which she kept largely off social media.
It ends with an adorable moment showing Stormi kiss her mother’s stomach, as she says “baby”.
The video, also shared by Scott on his Instagram Stories, has delighted fans. Jenner, who is an avid social media user, chose to keep her first pregnancy off social media completely, only confirming the news once Stormi was born in February 2018.
However, it seems Jenner will be sharing much more of her pregnancy journey the second time around.
The video, which has been viewed more than 30 million times in the four hours since it was posted, has attracted plenty of well wishes from the couple's A-list friends.
“My heart is bursting for you,” wrote model Gigi Hadid. “Congratulations.”
Her sister, Bella Hadid, wrote: “I can’t, so beautiful. Bawling, best mama. So happy for you.”
Jenner’s famous sisters also sent their congratulations via Instagram. “This is so beautiful my blessed angel sister,” wrote Kourtney Kardashian.
While Kim Kardashian simply said: “Crying.”
While this is the first time Jenner or Scott has confirmed the news, rumours had been circulating online over the past few weeks that the couple were expecting, after Caitlyn Jenner, Kylie’s father, was filmed telling members of the public that she had just found out her 19th grandchild was “in the oven” as she toured the damage caused by Dixie Fire in California.
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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