Miss Universe Pakistan Erica Robin says she will wear a burkini amid backlash

Pakistan's first-ever representative at the Miss Universe pageant has vowed to be "an ambassador for peace and goodwill", even as news of her participation sparks backlash in her country.

"I want to show the beautiful side of Pakistan, away from all the negativity and hate that we see on some media outlets," Erica Robin tells The National. "I also confirmed numerous times that I will wear a burkini as I have an immense respect of our culture – and it’s also my personal choice."

Robin, 24, a model from Karachi, won the title last month, and will be the first to represent Pakistan at the global competition, one of the longest-running and most-watched beauty pageants, now in its 72nd year.

But her participation has raised some eyebrows in Pakistan, prompting caretaker Prime Minister Anwaar ul-Haq Kakar to order an investigation last month.

But much of the outrage seems to be misplaced.

Robin, 24, is a fashion model from Karachi. Photo: Yugen Group

While some detractors have spoken out against the contest's swimsuit round, it is not mandatory for Miss Universe contestants to wear bikinis on stage. At the Miss Universe 2021 pageant, Bahrain representative Manar Nadeem Deyani was greeted with loud cheers during the swimsuit round when she walked out in a fully covered and flowing activewear outfit.

Critics have also questioned why a company not affiliated to the government was allowed to choose a representative from Pakistan. However, as per Miss Universe rules, anyone can own the franchise to host a local pageant. For instance, Yugen Group, which is based in Dubai, owns the rights to Miss Universe Pakistan as well as Miss Universe Bahrain and Miss Universe Egypt.

Robin, who is from Pakistan's minority Christian community, says Miss Universe is a great platform to "showcase the best of what women can achieve in any field they have chosen".

"This platform has evolved to advocate and empower causes to make the world a better place to live," she says.

"A lot of people have asked me why I wanted to stay in Pakistan; my answer is very simple – it is my home," she adds. "It is the place where I am grateful to live and where all my dreams came true. It’s not perfect, but I feel I should spread the message of positivity and highlight the goodness in my country, because there is a lot to celebrate in Pakistan."

Reigning Miss Universe R'Bonney Gabriel from the US will crown her successor at the next Miss Universe pageant to be held in El Salvador in November. More than 80 countries are set to be represented at the competition, to be spread across a number of weeks, with the winner crowned at a glitzy finale on November 18.

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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.”

MATCH INFO

Karnataka Tuskers 110-5 (10 ovs)

Tharanga 48, Shafiq 34, Rampaul 2-16

Delhi Bulls 91-8 (10 ovs)

Mathews 31, Rimmington 3-28

Karnataka Tuskers win by 19 runs