FUJAIRAH // One of the three swimmers sent to hospital after the race in which American Fran Crippen died said she received no immediate medical treatment following the 10km swim.
American swimmer Christine Jennings, 23, said there was a lack of supervision on the water and a shortage of medical assistance on land.
Crippen, 26, a four-time winner of the event, died of heat exhaustion 400 metres from the finish of Saturday's Open Water World Cup race.
Speaking from her home in Colorado in the United States, Mrs Jennings said: "I had no medical staff around me. The coaches helped me. We didn't get an IV until we got to the hospital."
Crippen's body was expected to arrive in the US last night. The swimmer's father, Pete Crippen, said the family will wait until after the funeral before they begin to address the safety concerns that his son had raised to Fina, the sport's world governing body, in the weeks before his death.
"If we get through this week and lay him to rest on Saturday then we'll address that," Mr Crippen said. "Next week we'll begin to look more and more at the issue of all this."
The head of the UAE Swim Federation, Ayman Saad, denied safety was overlooked and said that the temperature of the water for last year's race was warmer than Saturday's race.
Ms Jennings said she had felt nauseated from the heat 25 metres into the event and battled nausea and hallucinations until the pace began to quicken 8km into the race.
"It was to the extreme where I couldn't tell the difference between the water and the outside air," she said. "It was the strangest feeling. An athlete gets to the point where you can push it up, either step it up another level or step it down another level if it gets really bad. For me, for any athlete, it's hard to give up."
Though Ms Jennings made the decision to back down, she believed Crippen would have pushed on if in the same position. She said she laid on her back and signalled for help for several minutes once she decided to quit the event.
"Nobody came and I'm thinking to myself, 'Why is no one checking on me, I don't understand'," she said. "I was scared. I was looking around and no one had come and then I started getting really fearful."
Ms Jennings struggled ashore with the support of a German competitor and was treated with cold water and towels. Coaches then helped her to an ambulance, where she was given oxygen.
Ms Jennings and her American teammate Eva Fabian, 17, were treated for dehydration, heat exhaustion and fever at Fujairah Hospital.
She said she felt compelled to resubmit her statement when she went to a police station after it was shortened to a few brief lines that omitted her observations on the event's safety.
"All it said was he [Crippen] passed out and drowned. So I said, 'What happened to the rest of my statement?' I made them rewrite it because they needed to know why he died."
The circuit was monitored by two boats, three jetskis and judges, and lifeguards and coaches were present at five stations.
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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Director: S Sashikanth
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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.”
At a glance
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