Vehicles that seem to have much in common with small buses don't tend to get the pulse racing. If you start introducing a bit of power and premium styling, though, all that changes rapidly.
Infiniti was a late arrival into the whole luxury SUV sphere, concentrating its early efforts on flash sedans, but in recent years the manufacturer has fully bought into the posh, 4x4 concept, and the 2023 QX60 is one of its latest entrants into that market. And, while roomy, it certainly isn't a bus.
So … lots of space? Yes. Classy? For sure. Powerful? Well, the QX60 doesn't have quite the same grunt as some of its contemporaries, but the kind of drivers the Infiniti brand appeals to won't be too bothered about that.
The ride quality and general feeling of sturdiness are likely to be the main factors those on the inside will be concerned about, and there is little to question on either of those fronts.
Still, the new QX60 should be able to get you up to 100 kph in a smidgen over six seconds, which is respectable for any three-row seven-seater.
You'd certainly have difficulty doing that in a rather less well-appointed vehicle of similarly ample girth.
However, talking of size, it should be noted that the QX60 is a midsize SUV — there are plenty of bigger vehicles out there. That you can actually fit seven people inside comfortably is testament to some design nous on the part of Infiniti.
As we said, it's a roomy ride, but not, like some of its heavyweight rivals, a vehicle comparable in size to a ballroom.
There are four different trim levels of the QX60 available — Luxe, Pure, Sensory and Autograph — and as you move up the food chain there are more package options on offer.
All models come with a 12.3-inch information display screen and you get an array of driver aides and early warning systems that also come as standard.
Inside, Infiniti's designers apparently embodied the Japanese concept of “ma” with, according to them, “areas of detail and minimalism complementing each other in subtle harmony”.
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That seems a fair description. It's all very neat in the cabin, and there are none of those ever-so-slightly jarring touches you still find in some vehicles, where design and functionality seem to have been afterthoughts in the creative process.
There are some nice, subtle details on the QX60 as well, like the intricate pattern within the headlamps which has been designed to resemble the folds of a kimono, and there is an “aesthetic of ripples on a pond interpreted in the leather-appointed seats”.
All we can say about that is it all adds to the general comeliness of the vehicle, with that whole luxury thing being underlined again.
The latest model also features a motion-activated gate that opens the cargo space with the merest flick of a body part.
The QX60 is a decent choice if you want a vehicle to cart a lot of people about as it retains an air of panache. It isn't a budget option, but, then again, it's an Infiniti, so you wouldn't expect it to be. There might be something to that whole subtle harmony thing after all.
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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