Salvador Dali's remains will be exhumed in order to settle a paternity claim made by a 61-year-old woman.
Salvador Dali's remains will be exhumed in order to settle a paternity claim made by a 61-year-old woman.

Salvador Dali's body to be exhumed for paternity test



The remains of Spanish artist Salvador Dali will be exhumed on Thursday evening in order to settle a paternity claim made by a 61-year-old woman.

Pilar Abel, a tarot card reader from Girona, claims she is the only child of Dali, who died in 1989 of heart failure.

Last month a Spanish court ordered the exhumation of the world-famous painter's body in order to take DNA samples from his teeth and bones to determine whether Abel is his daughter.

Dali is buried in his hometown of Figueras, Catalonia in a museum which he designed for himself and which is also accessible to the public.

After the museum has closed its doors to visitors, the crypt in which the artist is resting in will be opened and awnings will be put in place for privacy.

Abel has spent 10 years trying to prove that she was the result of an extra-marital affair between Dali and her mother in the fishing village of Cadaques, where the painter once lived, in 1955.

Dali was married to his Russian muse Elena Ivanovna Diakonova, later known as Gala Dali, from 1934 until her death in 1982. The couple had no children.

If Abel is proven to be Dali's only child, she will inherit a quarter of his estate.

The fortune-teller claims she was told by the woman she formerly believed to be her paternal grandmother that her real father was Dali.

Abel said the woman had told her: “I know you aren’t my son’s daughter and that you are the daughter of a great painter, but I love you all the same.”

The mother-of-four said last week that she longed for the truth about her identity to be known and was not driven by potentially inheriting a large sum of money.

She added: "I am very positive you know what I mean. I think that it has been long enough."

The Salvador Dali foundation, which controls the artist's fortune, had unsuccessfully appealed against the exhumation ruling.

It is expected the results of DNA test will be available within the next two months.

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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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Day 5, Abu Dhabi Test: At a glance

Moment of the day When Dilruwan Perera dismissed Yasir Shah to end Pakistan’s limp resistance, the Sri Lankans charged around the field with the fevered delirium of a side not used to winning. Trouble was, they had not. The delivery was deemed a no ball. Sri Lanka had a nervy wait, but it was merely a stay of execution for the beleaguered hosts.

Stat of the day – 5 Pakistan have lost all 10 wickets on the fifth day of a Test five times since the start of 2016. It is an alarming departure for a side who had apparently erased regular collapses from their resume. “The only thing I can say, it’s not a mitigating excuse at all, but that’s a young batting line up, obviously trying to find their way,” said Mickey Arthur, Pakistan’s coach.

The verdict Test matches in the UAE are known for speeding up on the last two days, but this was extreme. The first two innings of this Test took 11 sessions to complete. The remaining two were done in less than four. The nature of Pakistan’s capitulation at the end showed just how difficult the transition is going to be in the post Misbah-ul-Haq era.

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