Pupils in the UAE have beaten a global trend of getting downgraded scores as schools in the Emirates reported a majority have got marks consistent with their predicted scores.
Pupils in the UK received lower A-level grades this year compared to the past two years when exams were cancelled due to the Covid-19 pandemic, official figures showed on Thursday.
UK media reported that top grades were down by 8.4 per cent compared to last year’s results, while A*s decreased by 4.5 per cent.
This year, A-level pupils were back in the exam halls sitting formal exams after a two-year disruption due to Covid-19.
On Thursday, Gems Education pupils celebrated outstanding A-level results that eclipsed the grades received in 2019 last summer.
Gems schools in the UAE and Qatar saw over 32 per cent of pupils achieve A* to A grades while over 86 per cent at Jumeirah College Dubai achieved A* to B grades.
At The British School Al Khubairat in Abu Dhabi, 124 year 13 pupils took the exams. 42 per cent of all grades awarded were either A* or A, with 67 per cent of grades awarded were A*- B with a 100 per cent pass rate.
Mark Leppard, headmaster at The British School Al Khubairat in Abu Dhabi, said: “The exam results overall are actually better than 2019.
"We are not seeing the trend that the UK is portraying. I think the main reason is, before our 2020-2021 scrutiny of exams, we did not see an inflation in our grades to the levels of the UK.
"If we had had that inflation, then we would see a decrease today, but we're not because our exam grades have been consistent across all the years.
"I can confidently say that our teachers' grades were as accurate as they could be compared to exam grades of 2019."
Mr Leppard said one of their pupils had been caught in a terrible mix-up at the fault of the exam board. Despite exceeding the grades needed to be accepted to his top choice university, he was denied a place because the Cambridge exam board had failed to mark one of his exams on time. Due to the delay, the university rejected him.
“The university have rejected him even though he's exceeded the grades of the offer because of a mistake by the exam board," said Mr Leppard.
“You're talking about life choices ... the exam board have admitted this mistake and they are trying to rectify it, but the university have rejected him.”
Cambridge International AS & A Level results were released on August 11, and more than 460,000 pupils – making 1.4 million entries in 147 countries sat for these exams.
Jared Nolan, director of UK schools at Taaleem, one of UAE’s major school developers, said there had been a great level of uncertainty throughout the community before results had been announced.
“Overall, we had a really, really pleasing set of results ... the great majority of Taaleem pupils have got their predicted grades. These are the results that students have worked for," he said.
"There are some schools in the UK that had shown a 40 per cent leap, and then this year, they're surprised that there's a 40 per cent downgrade."
Mr Nolan said that at their schools in the UAE, the difference between last year's grades and the exam results this year was not huge.
To pupils who may not have got the grades they had hoped for, his message was to stay calm.
“There's always a route," he said. "Don't panic, be calm. Look at clearing. Look at alternatives. I know plenty of pupils in the past who didn't get the grades that they required, or the course that they wanted, and ended up seeking an alternative course which led to a career in which they're now flourishing."
“Be objective. If you need to take a year to take stock and get some experience, there are so many options for young people these days. And it's not the end of the road, but the beginning of a very long road of a career you are walking into. Bring it back on track and reinvest some time if there's a particular goal you're aiming for.”
At Pristine Private School Dubai, 81 per cent of the grades in Mathematics were between A* to B, while in computer sciences 70 per cent of the grades ranged from A* to B.
The school had close to 45 children sit for A-level exams.
Shagufa Kidwai, principal at the school, said that while pupils in the science field had performed well, they hoped for better scores in commerce subjects such as business studies.
She said in commerce subjects, there was a slight discrepancy between the predicted grades and those achieved by pupils.
In the majority of cases she said there little difference between the predicted scores and the grade attained by pupils.
If needed, papers would be sent for re-evaluation or pupils would have a chance to resit exams later in the year.
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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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