Bottega Veneta Intrecciato leather messenger bag. Courtesy Mr. Porter
Bottega Veneta Intrecciato leather messenger bag. Courtesy Mr. Porter
Bottega Veneta Intrecciato leather messenger bag. Courtesy Mr. Porter
Bottega Veneta Intrecciato leather messenger bag. Courtesy Mr. Porter

Travel Essentials: man-bags


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When a man decides he can't keep stuffing all that he needs to carry around with him in his pockets and must hunt down a man-bag, it is imperative that the chosen product exudes nonchalance. "This old thing? I just grabbed whatever came to hand" is what he needs to signal as he shrugs the bag over his shoulder and runs to catch a plane. But judicious thought should precede purchase; logos, in particular, should be approached with a finger on the trigger.

Bottega Veneta Intrecciato bag

"When your own initials are enough" is the motto of this quintessential Italian company, set up in 1966 to produce understated accessories relying on the best Italian craftsmanship and pared-down design for their impact. Result: luxury goods speaking clearly and calmly of their provenance. None of that Made-in-China, Labelled-in-Italy malarkey here. W34xH35xD2cm.

Available at Harvey Nichols, Mall of the Emirates and Bloomingdale's, Dubai Mall, or from www.mrporter.com for £1,120 (Dh6,410), plus p&p.

Dunhill leather messenger bag

This has the virtue of unassuming versatility. Comfortable to carry, with its padded shoulder strap, functionally designed, and good looking in an typically unflashy way, it exudes a less-is-more calm. Wearers could just as happily arrive at a business meeting abroad as at a foreign cafe or holiday villa. W34xH29xD8cm.

Available at Dunhill stores at Dubai Festival City and Dubai Mall or from www.mrporter.com for £515 (Dh2,947), plus p&p.

Belstaff canvas messenger bag

Like Bill Amberg's slightly more expensive leather bags, this is one of those items that is sold looking used and battered - making it the very essence of this-old-thing insouciance. (Pure joy, one imagines, for stockists, who don't have to worry about keeping such goods pristine.) Not for those over the age of 35, though - the wannabe-a-boy look is another potential man-bag pitfall. Made of canvas with leather straps; W26xH35xD6cm.

Available from www.mrporter.com for £144 (Dh830), plus p&p.

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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Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

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Available: Now

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6.30pm Maiden (TB) Dh82.500 (Dirt) 1,400m

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8.50pm UAE 2000 Guineas Trial (TB) Conditions Dh183,650 (D) 1,600m

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10pm Handicap (TB) Dh102,500 (T) 1,400m

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Engine: 5.2-litre V10

Power: 640hp at 8,000rpm

Torque: 565Nm at 6,500rpm

Transmission: 7-speed dual-clutch auto

Price: From Dh1 million

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