Max ​Calderan’s trek across the Tropic of Cancer has been delayed due to bad weather. Courtesy Mauro Grigollo Photography​
Max ​Calderan’s trek across the Tropic of Cancer has been delayed due to bad weather. Courtesy Mauro Grigollo Photography​
Max ​Calderan’s trek across the Tropic of Cancer has been delayed due to bad weather. Courtesy Mauro Grigollo Photography​
Max ​Calderan’s trek across the Tropic of Cancer has been delayed due to bad weather. Courtesy Mauro Grigollo Photography​

Max ​Calderan aiming to cross the Tropic of Cancer through the UAE


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DUBAI // Bad weather and unpredictable terrain have delayed desert explorer Max Calderan’s bid to cross the Tropic of Cancer through the UAE.

Faced with thunderstorms, no moonlight and dangerous animals in the barren landscape meant that by Sunday the Italian had reached only the halfway point of the 340-kilometre trek instead of completing his journey as planned.

He now expects to finish today or tomorrow. The delay is not a problem for the veteran explorer, and holder of 11 world records, who began his expedition on Friday at the Saudi border. He will finish close to the Oman border.

Nico de Corato, who is part of ​Mr Calderan’s support team, said the harsh terrain had thrown up its fair share of challenges.

“Sometimes we see the sand and we can tell if it’s soft or compact, but with this it’s been very hard to tell and unpredictable. One minute it can be compact and the next you’re up to your knees, so it’s hard to know where you have to go in terms of navigation.”

The aim to cover 70km to 90km a day has not gone to plan, Mr de Corato said. “There have been times where 10 times in an hour the vehicles have been stuck in the sand. Other times it has taken one hour to cross just one 1km.”

Mr Calderan will be able to take these problems in his stride, having completed many tough challenges. These include his Ramadan journey in 2013 when he crossed the Sinai Peninsula, walking 250km over 48 hours while fasting and stopping five times a day for prayers. He called that trip his “spiritual journey”.

Athlete Marcus Smith trained with ​Mr Calderan for expeditions across the Sahara desert in the Marathon Des Sables and most recently at Wahiba Sands.

“What Max is doing is quite literally one of the most incredible human tests I have seen,” said Mr Smith. “I am not sure people really comprehend what he will be going through. I have often met with Max and asked him how his training is going. One day he answered, ‘I am currently working on sleep deprivation – I have not slept for over two days’. Another day he had not eaten anything for over 36 hours.”

The Tropic of Cancer, also referred to as the Northern Tropic, is the most northerly circle of latitude on Earth at which the Sun may appear directly overhead at its culmination. It is not fixed, but varies over time. Mr ​Calderan crossed it in Oman in 2007, where he covered the 437km of mountains and sand in almost 90 hours.

Tom Otton has also spent time training with Mr ​Calderan for desert races in the Sahara and Wahiba Sands.

“Once you get to a certain level of fitness that many, if not all, can achieve, then the key differential is mindset. Being able to deal with the pain, the relentless feeling of being very uncomfortable is something that you have to overcome in order to do many of these extreme challenges. Training the mind takes a lot more practice than training the body.

“I know what Max puts himself through to train his mind and because of that I know he’s rock solid mentally, which is why he will achieve his goal,” said Mr Otton. “What he is going through now is something that few will ever be able to comprehend but it is a great opportunity for people to realise that you do not have to be superhuman to achieve incredible things, you just need to be focused and relentless.”

Mr de Corato said: “This is not Max’s longest challenge, and in his mind he’s always prepared for this to take longer. It’s not a race. The mission is to accomplish the crossing.”

mswan@thenational.ae

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180 Petrofac employees laid off in the UAE

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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.”

The biog

Date of birth: 27 May, 1995

Place of birth: Dubai, UAE

Status: Single

School: Al Ittihad private school in Al Mamzar

University: University of Sharjah

Degree: Renewable and Sustainable Energy

Hobby: I enjoy travelling a lot, not just for fun, but I like to cross things off my bucket list and the map and do something there like a 'green project'.