Manuel Franco from Dominican Republic crowned Mister International 2022 in the Philippines

An aspiring actor from the Dominican Republic has made history by becoming the first contestant from his country to win a major male beauty pageant. Manuel Franco, 21, beat 34 other contestants to the Mister International 2022 crown at a ceremony held in Quezon City, Philippines, on Sunday night.

India's Lukanand Kshetrimayum placed second, while Orangel Dirinot from Venezuela won third place. Myron Jude Ordillano, from the host country Philippines, placed fifth.

"On this day, I’m trying to make history for my country. Imagine the first male grand slam winner in beauty pageants for Dominican Republic… Would be crazy😅," Franco posted hours before the finals.

Soon after he was crowned, he added: "Thanks Everyone for the support. Thanks Philippines for the experience, was grateful and awesome. Thanks to Dominican Republic."

Hailing from Espaillat Province in the north, Franco is a business student who juggles his studies with TV and stage work, as well as his modelling career. He dreams of becoming a successful actor and director.

Manuel Franco, 21, is an aspiring actor and filmmaker. Photo: Instagram / manufrancord

During the past week, contestants have been put through their paces, taking part in various preliminary competitions, including a costume round, as well as interviews. They've also had the opportunity to tour the sights and sounds of host Quezon City.

The annual competition, one of two major global contests along with Mister World, has been held since 2006. The event was cancelled for three years, from 2019 to 2021, owing to the Covid-19 pandemic. As a result, Trinh Bao from Vietnam, who won the title in 2018, was the longest title holder.

Lebanon has won the most Mister International titles, winning three times in 2006, 2012 and 2016. Wissam Hanna, the winner of the first pageant in 2006, is a well-known actor and presenter living in Dubai.

Bangkok will host the next Mister International pageant in October next year.

Miss Universe 2022 beauty queens crowned, from Turkey to Italy and Kyrgyzstan — in pictures

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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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Manuel Franco from Dominican Republic crowned Mister International 2022 in the Philippines

India and Venezuela placed second and third respectively in the annual male beauty pageant

Miss Universe 2022 beauty queens crowned, from Turkey to Italy and Kyrgyzstan — in pictures

Turning%20waste%20into%20fuel

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Manuel Franco from Dominican Republic crowned Mister International 2022 in the Philippines

India and Venezuela placed second and third respectively in the annual male beauty pageant

Miss Universe 2022 beauty queens crowned, from Turkey to Italy and Kyrgyzstan — in pictures

Turning%20waste%20into%20fuel

Jetour T1 specs

What can victims do?

The&nbsp;specs

Read more about the coronavirus

While you're here

While you're here

RESULT

Match info

Leaderboard

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