Is the Middle Eastern version of Vimto better than the UK variety?

Vimto may arguably be the number one drink of choice when it comes to the Ramadan iftar table, but it is also a tale of two flavours when it comes to bottles sold in the Middle East and North Africa, and in the UK.

While those in the Mena region love the sweet and concentrated flavours of the century-old berry cordial, customers in the UK are served a more diluted version, requiring less water to mix it before consumption.

This invariably leads to the question: which is better?

Making a case for both versions are The National journalists, special projects editor Juman Jarallah and arts and culture features writer Saeed Saeed.

Their spirited debate involves the Mena and UK varieties praised and criticised for their excessive and lack of sweetness, in addition to battling over whether mineral or sparkling water is best to dilute the drink.

Jarallah says she is a big fan of the “Arab version” of Vimto, describing it as a staple of her family’s iftars. While admitting the drink “packs a punch” on the sweetness scale, she says the sugar rush is part of the appeal.

Saeed, on the other hand, has gone sour when it comes to the excessive flavour and dryly states: “I am seeing stars. This needs to be diluted by far.”

When it comes to trying the UK version, Saeed hails it as “perfect and smooth.”

Jarallah is not so impressed, decrying the aftertaste of what she identifies as artificial sugar for spoiling the overall mix.

While both agree to disagree when it comes to the merits of both versions, Vimto is set to be one of the first of many debates on the culinary and cultural value of dishes and treats the region holds near and dear.

From what comprises the perfect hummus, to whether stuffed falafel is an insult to the original plain version, check out The National and join in the conversation by sending your suggestions on our Instagram, Facebook and Twitter accounts.

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.”

Is the Middle Eastern version of Vimto better than the UK variety?

Two journalists from 'The National' make a spirited defence of each version