Unicef, the UN's child protection agency, is urging governments to pour more money and resources into preserving the mental well-being of children and adolescents. AP
Unicef, the UN's child protection agency, is urging governments to pour more money and resources into preserving the mental well-being of children and adolescents. AP
Unicef, the UN's child protection agency, is urging governments to pour more money and resources into preserving the mental well-being of children and adolescents. AP
Unicef, the UN's child protection agency, is urging governments to pour more money and resources into preserving the mental well-being of children and adolescents. AP

Unicef: 1 in 7 of world's young people suffers from mental health disorder


Neil Murphy
  • English
  • Arabic

One in seven of the world's young people lives with some sort of mental disorder, according to a Unicef report which has called for an end to the stigma surrounding children's mental health.

The comprehensive study, titled The State of the World’s Children, warns that concerns about juvenile mental health following the Covid-19 pandemic could be the “tip of the iceberg” and says authorities must do more to tackle the escalating issue.

The researchers estimate that 13 per cent of the world's adolescents aged 10 to 19 - 89 million boys and 77 million girls - have sought help for a mental disorder, with prevalence being greatest in the Middle East, North Africa, North America and Western Europe.

Anxiety and depression make up about 40 per cent of these diagnosed mental disorders. Others include conduct disorders, attention-deficit disorders and intellectual disabilities.

In the report, Unicef cautions that the pandemic has clouded children's long-term future and “upended their lives, and created real concern for their mental health and well-being.”

“It will hang over the aspirations and lifetime earnings of a generation whose education has been disrupted,” it said. “The risk is that the aftershocks of this pandemic will chip away at the happiness and well-being of children, adolescents and caregivers for years to come.”

Citing research by Gallup, researchers also found that 19 per cent of 15 to 24-year-olds self-reported that they often feel depressed or have little interest in doing things.

Twenty per cent of 15 to 24-year-olds in the UK reported feeling depressed often, just behind the US and France (both 24 per cent). Cameroon reported the worst outcomes, with 32 per cent of young people reporting they felt depressed much of the time.

The authors noted that there is a growing awareness about the importance of mental health, but warns stigma surrounding mental health remains a powerful barrier to healthcare access.

“We all must work to help break the silence around mental health — challenge stigmas, raise mental health literacy and ensure the voices of young people are heard, and especially those with lived experience of mental health challenges,” they said.

The study calls for an increased level of investment in psychiatric and mental health services around the world, which it described as “very low".

World governments annually spend less than $1 per person on treating mental health, rising to just $3 per person in upper-middle-income countries.

“With nationwide lockdowns and pandemic-related movement restrictions, children have spent indelible years of their lives away from family, friends, classrooms, play — key elements of childhood itself,” said Unicef’s executive director, Henrietta Fore.

“The impact is significant, and it is just the tip of the iceberg,” Ms Fore said. “Even before the pandemic, far too many children were burdened under the weight of unaddressed mental health issues. Too little investment is being made by governments to address these critical needs.”

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Brief scores:

Manchester City 3

Aguero 1', 44', 61'

Arsenal ​​​​​1

Koscielny 11'

Man of the match: Sergio Aguero (Manchester City)

The years Ramadan fell in May

1987

1954

1921

1888

What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

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Empty Words

By Mario Levrero  

(Coffee House Press)
 

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MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

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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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COMPANY%20PROFILE
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Updated: October 05, 2021, 4:04 PM