Climb some stairs with the Gulf 4 Good charity organisation as part of their training programme. Start your weekend with a 60-floor climb to the top of Almas Towers. Stair climbing is a great workout and the ideal training for mountain challenges. As Everest climber and world-record holder Adrian Hayes says: "[It's] the best mountain training available when you can't get to the mountains." Friday, 8am to 9am, Almas Towers, JLT, Dubai, fitness@gulf4good.org
Visit the Puma Breakfast Club at Roar by Puma Women, the fitness social club in d3 in Dubai, for the hardcore, high-intensity Bodytree Body class led by Anissa. Nectar will provide samples of their paleo granola. Friday, 10am, free for Guava Pass members; Dh30 for non-members, Roar by Puma for Women, Dubai Design District (d3), Dubai, www.guavapass.com/go/roarbypumawomen
Take part in a free core-strength yoga class led by Nerry Toledo that balances traditional fitness notions of abdominal strength with a focus on developing strong, steady breath while understanding "the core of our being" – the spiritual core that is connected to everything in life. Learn the importance of having a strong core as well as the importance of connecting with our inner selves, where we find love, peace and hope. Friday, 11.40am, Yoga Ashram, Cluster X, X3 Tower, JLT, Dubai, register at 050 747 8066, @nerryfit on Instagram
Register to take part in A Celebration of Sound, in which Zarine Dadachanji, a facilitator of sound meditations, will perform sound healing with relaxation demonstrations using gongs, singing bowls and other instruments. The session, as part of the State of One wellness programme at Fairmont the Palm, aims to release stress, provide cellular relaxation, enhanced well-being and balance body, mind and spirit. Saturday, 5pm to 7pm, Dh100, Crescent Ballroom, Fairmont the Palm, Palm Jumeirah, Dubai, book at 04 457 3545, Palm.Willowstream@Fairmont.com
Spend a day at the Al Dhafra Water Festival, where you can find a variety of sports activities to watch and take part in. Families can enjoy activities at the children's village, including tug o' war, rowing, swimming, drawing, magic trick shows and more. Cheer on the athletes in the beach football and volleyball competitions and marine races for dhows, sail boats and row boats, as well as kitesurfing. Plus visit a traditional souq and attend fashion shows and cooking competitions. Daily until April 29, various timings, free, Mirfa Beach, Al Dhafra Region, Abu Dhabi, www.aldhafrawaterfestival.ae
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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Moral education needed in a 'rapidly changing world'
Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.
Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.
"Moral education touches on every aspect and subject that children engage in.
"It is not just limited to science or maths but it is involved in all subjects and it is helping children to adapt to integral moral practises.
"The moral education programme has been designed to develop children holistically in a world being rapidly transformed by technology and globalisation."
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