Travel news: join the sunny SoCal crowd, float on Kashmir's Lake Dal or chill out in Iceland


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Settle down to enjoy the Northern Lights

Less than an hour's drive from Reykjavik, on the edge of Thingvellir National Park, Hotel Ion (www.ioniceland.is) makes the perfect base for exploring south-west Iceland's natural wonders or taking adventure to extremes. Activities include snorkelling, hiking and rafting, a glacier tour and SuperJeep safaris. A three-to seven-night summer adventure package with Discover the World costs from £535 (Dh2,985) per person, including airport transfers, a SuperJeep midnight sun safari, lava-caving and a local two-course lobster dinner. Find out more at www.discover-the-world.co.uk.

Join the cool SoCal crowd in Santa Monica

Pack your biggest sunglasses and tanning spritz: the Oceana Beach Club Hotel in Santa Monica has just had a different sort of designer makeover. The hotel's public spaces have been revamped in a wonderfully retro, summer-in-the-Sixties kind of way and, in its new restaurant, Tower 8, local Michelin-starred chef and avid surfer Josiah Citrin is in charge. Look out for the pool hosts handing out the ice creams and iPads to those on the sunloungers. Take a stroll down the famous pier or enjoy one of the hotel's complimentary activities such as hiking, yoga or cycling. A double room costs from US$538 (Dh1,976) per night, including taxes and breakfast (www.hoteloceanasantamonica.com).

Another good excuse to visit Amsterdam

After a decade-long renovation, the Rijksmuseum on Museumplein is set to open next weekend; among the highlights is a new Ottoman gallery as well as the famous collection of paintings from the 17th-century Dutch Golden Age. To mark the occasion, the five-star Grand Hotel Amrâth, itself 100 years old this year, is offering a one-night museum experience, which includes entrance to the Rijksmuseum (as well as the Coster Diamond Museum), a canal boat tour, a day's bicycle hire and entrance to its spa from €179 (Dh842) per person, based on two people sharing a double room, including taxes. Book at www.amrathamsterdam.com.

A houseboat with a history in Kashmir

Sukoon is a newly restored luxury houseboat that has just been launched on the waterways surrounding Lake Dal in Kashmir. Once aboard, guests will find five comfortable bedrooms with large windows for good lake views, bathrooms with hot running water and Wi-Fi completing the list of mod cons. Public areas include a roof terrace for the best views of the Pir Panjal mountains at sunset, and a sitting and dining room. From April 15, a room costs 7,500 Indian rupees (Dh508) per night, including breakfast, afternoon tea, dinner and motorboat transfers. For bookings and more information, visit www.sukoonkashmir.com

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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.”

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The Greatest Royal Rumble card

50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias

Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match

WWE World Heavyweight ChampionshipAJ Styles (champion) v Shinsuke Nakamura

Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe

United States Championship Jeff Hardy (champion) v Jinder Mahal

SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos

Raw Tag Team Championship (currently vacant) Cesaro and Sheamus v Matt Hardy and Bray Wyatt

Casket match The Undertaker v Rusev

Singles match John Cena v Triple H

Cruiserweight Championship Cedric Alexander v Kalisto

RESULTS

6.30pm: Al Maktoum Challenge Round-1 Group 1 (PA) Dh119,373 (Dirt) 1,600m
Winner: Brraq, Adrie de Vries (jockey), Jean-Claude Pecout (trainer)

7.05pm: Handicap (TB) Dh102,500 (D) 1,200m
Winner: Taamol, Connor Beasley, Ali Rashid Al Raihe.

7.40pm: Handicap (TB) Dh105,000 (Turf) 1,800m
Winner: Eqtiraan, Connor Beasley, Ali Rashid Al Raihe.

8.15pm: UAE 1000 Guineas Trial (TB) Dh183,650 (D) 1,400m
Winner: Soft Whisper, Pat Cosgrave, Saeed bin Suroor.

9.50pm: Handicap (TB) Dh105,000 (D) 1,600m
Winner: Hypothetical, Mickael Barzalona, Salem bin Ghadayer.

9.25pm: Handicap (TB) Dh95,000 (T) 1,000m
Winner: Etisalat, Sando Paiva, Ali Rashid Al Raihe

If you go

The flights

There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.

The trip

Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.

The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.

 

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'Skin'

Dir: Guy Nattiv

Starring: Jamie Bell, Danielle McDonald, Bill Camp, Vera Farmiga

Rating: 3.5/5 stars

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