Amid the rustle of silks and satins, and the click of heels on floor at the recently concluded Paris Haute Couture Week, there were unveilings of a quieter nature.
With the eyes of the world, and more importantly the eyes of the world’s couture clients focused on the City of Light, the grand jewellery houses of Paris laid out their newest wares.
Chaumet
At Chaumet, a house with a history that stretches back to Empress Josephine and Napoleon, a collection named Torsade de Chaumet made its debut.
Taking its inspiration from the carved column that sits in the middle of Place Vendome in Paris, the address of Chaumet’s first boutique in 1812 and the home of high jewellery, the pieces twist and curl as the carved frieze winds its way up the column. The name, Torsade, literally means "to twist" in French.
There is a bracelet of brilliant-cut white diamonds and cushion-cut sapphires that spirals around the wrist, as its matching ring envelopes a finger. The hero of the collection is the Torsade de Chaumet tiara. With tiaras a speciality of the house, this rose- and brilliant-cut white diamond masterpiece twists and curls like a silk ribbon.
Boucheron
Boucheron pushed the boundaries of technology with its latest collection, introducing new and extraordinary techniques into the world of high jewellery.
Across a collection of 25 pieces, creative director Claire Choisne sprayed precious metals on to ceramic and rock crystal using intense heat, to create a surface of holographic beauty.
Continuing the shifting colours, Choisne uses opal, both powdered and whole, to further refract light. One piece of jewellery has a koi carp dusted with diamonds circling a central opal, that can be detached to make a brooch. Another set has pear-cut aquamarines framed with diamonds and coated with ceramic to give an ethereal blue effect, used to craft a necklace, earring and a ring. The result is almost hypnotic new hues.
Schiaparelli
While the jewels on show at the recent Schiaparelli show are not diamond-clad, they are no less precious. To bring his dresses to life, creative director Daniel Roseberry added gleaming gold pieces that stayed true to the surreal underpinnings of the house.
One such piece was a golden necklace that is a cast of human lungs. Far from being gruesome, the spidery network of ever-narrowing filaments is astounding, so much so, model Bella Hadid wore the full look on the red carpet at Cannes. Elsewhere, Roseberry crafted earrings of huge gold ears, complete with earrings, and fine sheets of gold made into flowers and worn as glasses.
Piaget
For its high collection Extraordinary Lights, Piaget recreated the shifting light of an imagined sunset and evening. In three chapters, the first is Festive Lights, inspired by the warmth of the fading sunset. Captured in white and yellow diamonds, or rubies from Mozambique and Thailand, the pieces echo the light of paper lanterns as they are released into the night sky.
Next is Magical Lights which looks to the natural light show that is the aurora borealis. Colombian emeralds in a rich green make up one set, while another necklace is made of 27 sapphires in colours that travel from pink to purple and blue. The final chapter is Infinite Lights which culminates in a necklace created to be as beautiful from the back as the front. Strands of white diamonds end in Sri Lankan blue sapphires at one end and a vivid yellow diamond and red spinals at the other to symbolise the colours of sunset against the tones of night.
The biog
Hobby: "It is not really a hobby but I am very curious person. I love reading and spend hours on research."
Favourite author: Malcom Gladwell
Favourite travel destination: "Antigua in the Caribbean because I have emotional attachment to it. It is where I got married."
Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
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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.”
Global state-owned investor ranking by size
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United States
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2.
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China
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3.
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UAE
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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Zayed Sustainability Prize
1,000 Books to Read Before You Die: A Life-Changing List
James Mustich, Workman
Who are the Soroptimists?
The first Soroptimists club was founded in Oakland, California in 1921. The name comes from the Latin word soror which means sister, combined with optima, meaning the best.
The organisation said its name is best interpreted as ‘the best for women’.
Since then the group has grown exponentially around the world and is officially affiliated with the United Nations. The organisation also counts Queen Mathilde of Belgium among its ranks.
Our legal advisor
Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.
Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation.
Education: Sagesse University, Beirut, Lebanon, in 2005.