A school in Abu Dhabi is offering fee discounts of up to 50 per cent for one term to new pupils.
Repton Abu Dhabi will give rebates to new pupils from foundation stage to Year 13, the school announced on Sunday.
The discount will be applicable only in the first term the children join the school and the normal fee will be charged after that.
The school launched an AI platform on Sunday that will use an algorithm to offer customised discounts to parents.
Discounts will depend on the availability of places and will be calculated on historical and projected enrolment data. Parents will pay on a pro-rata basis.
Marion Henriot, chief operating officer at Repton schools said: “The platform assesses each inquiry in real time to make sure we offer our new parents the best value proposition available.
“We looked at different variables to tailor how much parents pay when they join.
“We are used to people moving in throughout the year and can offer special discounts that are customised for families.”
Fees at the school range from Dh61,000 for Year 2 to Dh74,000 in Year 13.
Ms Henriot said she hoped the discounts would ease the transition for families moving to the UAE.
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Pupils heading to school for the first day after the summer break at the Pearl Academy School on Muroor Road. Abu Dhabi. Victor Besa / The National -

Youngsters start their day at the Pearl Academy School on Muroor Road, Abu Dhabi. Victor Besa / The National -

A mum and her two daughters pose for a photo at the Pearl Academy School. Victor Besa / The National -

A father walks his son to the Pearl Academy School. Victor Besa / The National -

Pupils at GEMS Dubai American Academy arrive after the summer break. Reem Mohammed / The National -

Youngsters make their way to classes at GEMS Dubai American Academy. Reem Mohammed / The National -

Parents and pupils approach the entrance of the GEMS Dubai American Academy. Reem Mohammed / The National -

A pianist plays in the foyer as young students wander into the GEMS Dubai American Academy. Reem Mohammed / The National -

Pupils say goodbye to their parents at the GEMS Dubai American Academy. Reem Mohammed / The National -

Brendan Fulton, principal at Dubai British School, interacts with students on their first day back. Reem Mohammed / The National -

Pupils begin the day at Dubai British School. Reem Mohammed / The National -

Youngsters take part in activities at Dubai British School. Reem Mohammed/The National -

Evie Fleming, second from right, takes part in a team-building class on the first day of school at Dubai British School. Reem Mohammed / The National
Children can also join classes remotely.
"We would love to roll out this programme at our schools in Dubai if we get positive feedback," Ms Henriot said.
More than 300 new pupils joined the school this term, while more than 1,500 pupils are enrolled at the school.
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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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