Tasmania bouncy castle tragedy: five children dead after wind lifts inflatable into air


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Five children died and four others were in critical condition on Thursday after falling from a bouncy castle that was lifted 10 metres into the air by a gust of wind at a school on Australia’s island state of Tasmania.

The school was holding a celebration to mark the end of the school year.

The children who died included two boys and two girls in Year 6, which would make them 10 or 11 years old, said Tasmania Police Commissioner Darren Hine. Police later on Thursday confirmed that a fifth child had died in hospital.

Five other children were being treated, four of them in critical condition. Mr Hine said an investigation is under way. Prime Minister Scott Morrison described the incident as “shattering and heartbreaking".

“Young children on a fun day out, together with their families and it turns to such horrific tragedy at this time of year. It just breaks your heart,” Mr Morrison said. Commander Debbie Williams confirmed the deaths, The Guardian reported.

“This is a very tragic event and our thoughts are with the families and the wider school community, and also our first responders,” Ms Williams said.

An ambulance helicopter at Hillcrest Primary School in Devonport, Tasmania. EPA
An ambulance helicopter at Hillcrest Primary School in Devonport, Tasmania. EPA

“There is no doubt that this is a very confronting and distressing scene.

“Counselling is being made available to the families affected by this in the school community along with the first responders.”

Several rescue helicopters were used to transport the children to hospital, while police units and ambulance crews attended the scene.

Parents arrived at the school gate to collect their children as helicopters ferried the injured to hospitals.

Tasmania state Premier Peter Gutwein called the incident “simply inconceivable … I know this is a strong and caring community that will stand together and support one another”.

Ms Williams said “several children fell from the jumping castle. It appears they may have fallen from a height of approximately 10 metres”.

“This is a very tragic event and our thoughts are with the families, the wider school community, and our first responders,” Ms Williams said.

AP contributed to the report

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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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Updated: December 16, 2021, 9:18 PM