KS Chitra to return to Dubai after drowning tragedy


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DUBAI // A year after the death of her eight-year-old daughter in Dubai, the Indian playback singer KS Chitra is ready to return.

Her family said last week that Chitra will perform in Dubai at the end of the year.

It would be the first time the star has returned to the UAE to sing after her daughter, Nandana, drowned in a private swimming pool in an Emirates Hills villa on April 14, 2011.

"Many people have been calling us, but we were not mentally prepared to come back," said Vijaya Shankar, Chitra's husband, in a telephone interview from their home in Chennai.

"She will do a solo concert in November in Dubai. Two shows have already been confirmed," he said, adding that discussions were under way with the organisers for a third show.

Yesterday was the anniversary of Nandana's death.

The tragedy happened after Chitra had come with her family to perform, along with many other well-known singers, in a tribute concert - A R Rahman Special Hits - at the Sharjah Cricket Stadium.

The family stayed at a friend's home rather than a hotel in Bur Dubai, where other artists were based.

The singer placed Nandana, a child with special needs, in front of the bedroom television to watch her favourite cartoon, then stepped into the shower. The girl let herself out through the bedroom door, which leads to the pool area, and fell into the water, according to family friends. She was dead by the time she was taken to the Cedars Jebel Ali International Hospital.

Following the death of Nandana and other child drownings last year, Dubai Police repeatedly warned parents not to leave children unattended at pools and beaches.

Officers said a quarter of the 36 drownings recorded in the first six months of 2011 involved people under the age of 18.

In the past year, Chitra has refrained from singing in live shows or travelling abroad.

However, she has been recording playback numbers for movies and is also a judge on two reality shows in south India.

Mr Shankar said his wife would start taking part in live shows once again from this week.

"She has not gone anywhere except for an Ilayaraja concert in January," he said.

Chitra will travel to London, Toronto, New York, Singapore and India in the coming months.

The Dubai organisers of last year's A R Rahman Special Hits said they will invite the artist again for the show, which is scheduled to take place this year.

"We will be doing a show with about 50 singers just like last year," said Sha Mohammed, creative director of Media Factary. "We would like her to come, if not as a performer, at least as a guest," he said, adding that the show's line-up had not yet been finalised.

Chitra's husband said if they received an invitation for her to sing at the same show again, the family would "consider" it. "We share a great rapport with A R Rahman's sisters," he said.

Mr Mohammed said Chitra's return to the Emirates could be emotionally challenging for her. "She will definitely feel bad because she is coming for the same show, which will include the same set of singers from last year," he said.

Recalling last year's events, he said: "I remember asking her to stay at the hotel room we had booked for her and other singers. But, she wanted to stay with her friend because the child would get better care and home food. And, the next morning, we heard this terrible news."

Known as the nightingale of South India because of her melodious voice, Chitra has recorded more than 15,000 songs.

She has received six national film awards from the Indian government, and several other film awards. She began her music career in 1983.

The popular singer is endearingly known by fans and friends as Chitra "chechi", which translates as elder sister in Malayalam.

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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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Petrarch: Everywhere a Wanderer
Christopher Celenza,
Reaktion Books

Like a Fading Shadow

Antonio Muñoz Molina

Translated from the Spanish by Camilo A. Ramirez

Tuskar Rock Press (pp. 310)