Parents must set limits for their children, UAE workshop hears


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ABU DHABI // Parents must set limits for their children on what are acceptable ways to act, experts say.

A workshop heard how parents must be consistent in their approach to behaviour from anger to frustration and be calm – especially in the first five years – which will allow children to develop self-control.

Dr Michael Kaplan, assistant clinical professor in child psychiatry at the Yale Child Study Centre in the United States, said limiting certain behaviour enables children to “handle life’s stress”.

“An expectation for a two-year-old is different for an eight-year-old, so you would treat behaviours differently, depending upon the age and use different techniques based upon the age,” said Dr Kaplan, at the workshop in the capital on Monday.

He said that parents must understand why the child is acting in a certain way. “The best way to help children is if you understand the concepts of child development and if you can understand the concepts then no matter what the age is, you can help them.”

All behaviours are a way of communication, said Dr Kaplan, and parents must try to understand where it is coming from.

Actions are usually signs of emotions like anger, frustration, hunger, or sadness, he said.

“If you look at the underlying causes of the behaviour, no matter what the age, then that can guide your response.”

Parents’ understanding of the basis of the child’s behaviour is important and it enables them to help the child and prevent any misunderstanding, said Dr Kaplan.

It also develops compassion and patience in parents, he said.

He said children are unable to “regulate their feelings, thoughts and behaviours”, which could result in unwanted ways of acting.

“Some of the things that are important in limit setting is consistency, being predictable as a parent, being calm in the face of adversity – which isn’t always easy, to try to avoid physical punishment and yelling and losing control.”

Parents must also be consistent with each other, and “should be more similar than dissimilar” when it comes to limit setting.

“The goal is to allow the child to develop a sense of self-control, because that’s basically what it’s all about. To help a child develop self-control, you have to demonstrate it.”

Parents should teach their children how to gain control of the impulses, he added.

The talk was given in Manarat Al Saadiyat as part of a parenting series organised by the Sheikha Salama bint Hamdan Al Nahyan Foundation.

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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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