ABU DHABI // Mothers enrolled at Zayed University are being offered support to help them cope with the demands of student and family life.
Hareem, set up by female students with children, aims to provide a community of women who are on hand to offer help and advice on everything from coursework and hitting deadlines to babysitting.
“The idea started in my freshman year when I was pregnant with my third child,” said Ameera Mubarak, 31, who established the group after struggling to return to her studies after giving birth. “I was looking for a support group with women in my situation.
“The idea was to have other women who are going through the things you are, to assure you and even to benefit from people who have been through it already. It can be a scary time.”
Mona Al Zubaidi, 32, Hareem’s vice president, has three children – 10, eight and four. She is enrolled on the same psychology and social services studies as Ms Mubarak.
She said adapting to life on campus and spending time away from young children takes a toll.
“Before I joined Zayed University, I felt very lonely, but then I felt I had a purpose, that there was something in life to be accomplished and with the help of the club I feel I have somewhere to go when I have problems.” Another of Hareem’s aims is to set up a database of mothers: there are no statistics on how many students at the Dubai and Abu Dhabi campuses have children or are married.
“Part of the club’s aim now is to gather this data and do surveys to find out the numbers of women who are married and have children,” Ms Al Zubaidi said.
Iman Fredericks, the students’ supervisor and head of student development, is leading the research. “Normally, you will know if a student is pregnant or has a child because they take a semester off,” said Ms Fredericks, adding that staff had no way of knowing if the women were single when they enrolled or if they became pregnant while studying and what can be done to help.
So far, they have interviewed 20 students to find out what needs they have, what support is missing and what kind of issues they face. Ms Al Zubaidi said that, at first, asking women about such private matters was “very difficult. Some girls weren’t willing to talk about it”, adding that more support from academic staff was needed.
As well as Hareem, the campuses’ early childhood-learning centre allows women to bring babies and children to university and offers a place to breast feed and maintain contact with their children while studying. But many would like to have a part-time study option, Ms Fredericks said. “That’s still something we’re working on.”
Fatima Al Sayegh, 21, who is studying public relations, is a member of the group although she is unmarried.
“I see these mums trying so hard to be better so as someone without these responsibilities, I was inspired,” she said.
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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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Favourite holiday destination: Either Kazakhstan or Montenegro. I’ve been involved in events in both countries and they are just stunning.
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