Sudan's Al Burhan holds talks with Turkish President Erdogan in Ankara

Sudan's military ruler Gen Abdel Fattah Al Burhan flew on Wednesday to Ankara where he held talks with Turkish President Recep Tayyip Erdogan.

It was Gen Al Burhan's fifth foreign trip in a little more than two weeks. Analysts say the visits reflect the army chief's wish to rally regional support as his troops continue to fight the paramilitary Rapid Support Forces in a ruinous conflict that broke out in mid-April.

Gen Al Burhan has since late last month visited Egypt, South Sudan and Eritrea – three of the country's seven neighbours – as well as Qatar.

The visits, according to analysts, also betray Gen Al Burhan's desire to project an image of himself as the sole legitimate leader of Sudan and to debunk what he sees as falsehoods about the conflict propagated by RSF commander Gen Mohamed Dagalo, his one-time ally and deputy.

“He is trying to tell the world that there's a government in Sudan and that he exists and functions as the head of state,” said Sudanese analyst Tareq Abu Shura. “Sudan has weakened after the war broke out and many nations in the region are eager to secure a foothold there for when the war ends. These visits strengthen Sudan in the face of these challenges.”

Sudanese women who fled the conflict in their country wait to be registered by the United Nations High Commissioner for Refugees upon crossing the border into Chad. Reuters

In Ankara, Gen Al Burhan and President Erdogan held talks focused on "bilateral relations and pushing forward cooperation between Turkey and Sudan", according to a Sudanese presidential statement. It gave no other details.

Notably, one of the senior officials accompanying Gen Al Burhan is Gen Mirghany Idrees Suliman, head of Sudan's military industries. That, the analysts said, suggests that Gen Al Burhan was likely to request military aid from Turkey.

He was also expected to request humanitarian aid from Ankara, according to the analysts.

“Turkey is a key regional power that has extensive ties with Sudan and a prominent place on the world stage. Al Burhan will look to it for diplomatic support in the international arena as well as military aid,” said another Sudanese analyst, Omar Atta Al Menan.

Egyptian officials closely monitoring Sudan said that during his recent visit to South Sudan, Gen Al Burhan asked for Juba's help to persuade rebel groups in western Sudan to halt their hostile activities against the army and instead join the fight against the RSF. Juba has traditionally enjoyed close ties with these groups.

The conflict in Sudan has created a monumental humanitarian crisis with more than five million of the nation's 48 million people displaced. Of these, more than a million fled across the border into neighbouring nations, chiefly Egypt, South Sudan, Chad, and the Central African Republic.

Those trapped by the fighting in Khartoum suffer lengthy water and power cuts, scarce health care and skyrocketing food and fuel prices.

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.”

Sudan's Al Burhan holds talks with Turkish President Erdogan in Ankara

Sudanese military ruler makes his fifth foreign visit since leaving war-ravaged Khartoum last month