Sharjah cat and dog home makes public plea



SHARJAH // A Sharjah cat and dog shelter is asking more people to adopt its animals as it struggles to keep up with the number of strays.

An average of 14 animals are taken in by the shelter on daily basis while it rehomes 15 a week, said Briton Emma Smith, director at the Sharjah Cat and Dog Shelter.

The refuge can accommodate up to 60 dogs and 60 cats. However, it is over capacity.

“The shelter is overcrowded and, unfortunately, animals that are not adopted will be euthanised,” Mrs Smith said.

“It is sad, but that’s the reality. We are restricted by the space. However, we look at the positive side of this. We try to find homes for all the animals that we shelter.

“The sad part is that most people think of this as a dumping ground for their pets. We want more people to think of this as a place for adopting animals,” she said.

The shelter staff, with the help of volunteers, also try to rehabilitate and socialise dogs to help them become more friendly and more likely to be rehomed.

Adrienn Krasznai, a vet at the shelter, said that they perform an average of 10 to 15 spaying and neutering operations per day as part of its “trap, neuter, return” programme.

People looking into adopting an animal from the shelter will be screened by the staff to make sure that animal will be placed in a loving and caring home.

“If we find that the individuals won’t be able to provide a good home, we refuse to give them the animal,” said Mrs Smith.

Sharjah Cat and Dog Shelter was established in 2010 under the umbrella of Sharjah Municipality by a decree of Dr Sheikh Sultan Al Qasimi, Ruler of Sharjah.

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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.”