At a recent oncology summit in Dubai, there were concerns raised that not enough was being done to raise awareness about a particular disease. In March, a Health Authority – Abu Dhabi study confirmed this same disease as the fourth-biggest cancer, yet it is a disease that is curable and generally only affects men over 50 years of age. About 14 per cent of all men will be affected by prostate cancer during their lives.
The risk of prostate cancer increases significantly with age. Indeed, if you are a man over 60 then you have a 50 per cent chance of getting the disease. That’s right – one in two males could be diagnosed with this cancer once they reach their seventh decade.
Statistics also show that men are 35 per cent more likely to be diagnosed with prostate cancer than women with breast cancer. Around 20 per cent of all cases of cancer in the UAE are prostate cancer.
Women are to be congratulated for their successful campaigns, pink ribbons and awareness days for breast cancer. They bring huge financial support to disease prevention. Their work has saved thousands of lives.
But just as importantly there is a significant need for better prostate cancer awareness.
However, some steps have been taken to improve this.
In 2013, the Dubai Health Authority launched a prostate cancer awareness campaign. Yet, we need to do more to spread the word. How many people know that prostate cancer awareness month is September? How many men know that prostate cancer can be treated and is curable?
I feel strongly that men should have wider support for prostate cancer.
Men do not need to die from prostate cancer. If men are aware of the problem early enough then this disease can be prevented.
Part of the problem is that often the symptoms are subtle. This is why it is sometimes referred to as a silent disease. However, there are a few signs that can give prostate cancer away.
The prostate is located near the bladder, it’s a walnut-sized gland and almost all men will develop some enlargement of the prostate as they age. Enlargement of the prostate, is the most common problem in men over 50.
As the prostate grows it sometimes presses on the bladder. Symptoms can include frequent, hesitant or burning urination. Men also need to be aware that pain in the lower back and upper thighs is a possible symptom and they should see a doctor.
Better still, if once a year men over 50 consented to having a simple blood test called PSA (prostate specific antigen) then the disease could be screened and tackled.
In some countries, women are offered free pap smears for cervical cancer testing. Why shouldn’t men have free screening for prostate cancer over the age of 50? Many lives could be saved. This is a benefit to the individual, their families, to society and indeed the economic well-being of nations.
Awareness is growing but yet more needs to be done to put awareness of this “male” disease on a level with pink ribbon days.
So let us start to build a much better understanding of prostate cancer prevention. Let us have awareness days to the point of creating our own awareness symbols. And men, do not be afraid to visit your doctor. Your life could be saved.
A R Omar is an Emirati writer based in Abu Dhabi
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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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