The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
Torque: 350 and 360Nm
Transmission: eight-speed automatic
Price: from Dh136,521 VAT and Dh166,464 VAT
On sale: now
If you really want to test out a road-going car's potential when it comes to the rough stuff, there are fewer places better to take it in the UAE than Hatta, an area with some of the country's dustiest and rockiest terrain. That, then, was the destination Volkswagen chose to give its new Teramont a workout.
The company organised a drive for a convoy travelling from Dubai that took in some of the windiest passages of road heading east. There were sections dedicated to trying out the seven-seater's capabilities on ragged tracks, through streams and up and down a series of sharp gradients – appropriate for a vehicle the manufacturer touts as its boldest and most robust creation.
Swinging the Teramont around tight bends on public roads was never going to be an issue. The car is big and solid, and there is plenty of give in the seating to cushion the driver and riders alike.
It handled competently off-road, too, taking the aforementioned tarmac-free terrain with the sure-footedness of many other vehicles specifically designed for off-road, rather than urban, use. You may still want to opt for a dedicated 4x4 if you're heading anywhere particularly drastic, but none of the Teramonts looked in danger of getting stuck at any stage on the ground they were presented with.
And, of course, like any big car, you get a suitable lord-of-the-manor feeling thanks to the raised seating position. This is most convenient when you need to see what might be ahead over a suitably steep drop.
This latest Teramont has had some attention because, no doubt, of its popularity. The model is currently Volkswagen's bestselling car in the Middle East (surprising for many, bearing in mind the Golf, a vehicle that has been a mainstay of the company's roster since 1974), so the new car is somewhat under the spotlight.
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Take a look at the 2021 Nissan Patrol Nismo:
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There are two distinct models available with a number of variants in between. The basic difference is engine size, with 2.0-litre four-cylinder and 3.6-litre six-cylinder options available. Among these you have a series of trims, which comprise Trendline, Comfortline and Highline.
Inside, there is a new multifunction steering wheel, in addition to the eight-inch touchscreen infotainment system. There's a 12-speaker Fender sound system, while wireless phone charging options are now also available. The decor is all brushed metal with suitably shiny wood inserts.
Hatta's hills and dales provided a decent workout for a vehicle that is more capable than you might expect
It might not be obvious at first glance, but the 2021 Teramont has had an external facelift as well. The new look includes a revitalised, three-bar front grille fitted with the new company logo, with similarly assertive treatment being given to both bumpers. The front and rear lights have been revamped and given an LED upgrade. The Teramont also now has a lower positioned front diffuser with a chrome silver lip.
Hatta’s hills and dales provided a decent workout for a vehicle that is more capable than you might expect. It seemed a shame to get the assembled group of initially smart and shiny cars all dusty, but few off-road fans would not have found it a lark getting them that way. And, let’s face it, you’re never too far from a hosepipe, so what’s a little grime between friends?
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
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.”
The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
Torque: 350 and 360Nm
Transmission: eight-speed automatic
Price: from Dh136,521 VAT and Dh166,464 VAT
On sale: now
