Designer and engraver Thomas Docherty with the UK £5 gold coin unveiled before Prince William's 40th birthday. Royal Mint / PA
Designer and engraver Thomas Docherty with the UK £5 gold coin unveiled before Prince William's 40th birthday. Royal Mint / PA
Designer and engraver Thomas Docherty with the UK £5 gold coin unveiled before Prince William's 40th birthday. Royal Mint / PA
Designer and engraver Thomas Docherty with the UK £5 gold coin unveiled before Prince William's 40th birthday. Royal Mint / PA

New £5 coin unveiled to mark Prince William’s 40th birthday


Soraya Ebrahimi
  • English
  • Arabic

A new £5 coin featuring Prince William’s portrait is to be issued to celebrate his coming 40th birthday, the Royal Mint said.

The new coin has been unveiled for the prince’s birthday on June 21.

It will be the first time the Duke of Cambridge will appear alone on an official coin struck by the Royal Mint.

The coin, created by designer and engraver Thomas Docherty, features his portrait set amid his royal cypher — the initial W — and the number 40.

Meanwhile, Queen Elizabeth II’s image, designed by Jody Clark, will be struck on the other side of the coin.

There will also be an inscription on the edge reading: “HRH the Duke of Cambridge”.

A limited edition two-coin set will also be released, featuring a 0.25-ounce gold celebration coin and a 1982 sovereign, from the year the prince was born.

The collection will also include a limited edition coin made of 5oz of fine gold to mark the occasion, with laser technology creating a “high-relief finish” to give Prince William’s portrait an enhanced 3D appearance.

  • Prince William and his wife Kate are shown around the Glade of Light Memorial garden by its designer Andy Thomson, outside Manchester Cathedral in northern England. AP Photo
    Prince William and his wife Kate are shown around the Glade of Light Memorial garden by its designer Andy Thomson, outside Manchester Cathedral in northern England. AP Photo
  • Prince William gives a speech during the official opening of the Glade of Light memorial, which commemorates the victims of the terrorist attack at Manchester Arena in which 22 people were killed on May 22, 2017. PA
    Prince William gives a speech during the official opening of the Glade of Light memorial, which commemorates the victims of the terrorist attack at Manchester Arena in which 22 people were killed on May 22, 2017. PA
  • Prince William and Kate lay flowers at the Glade of Light memorial. AFP
    Prince William and Kate lay flowers at the Glade of Light memorial. AFP
  • A view of the memorial in January. it is adorned with the names of those who were killed. Getty Images
    A view of the memorial in January. it is adorned with the names of those who were killed. Getty Images
  • Kate lays flowers at the Glade of Light memorial garden. AP Photo
    Kate lays flowers at the Glade of Light memorial garden. AP Photo
  • Salman Abedi detonated a bomb in his rucksack in the foyer of Manchester Arena at the end of a concert by US artist Ariane Grande five years ago. AP Photo
    Salman Abedi detonated a bomb in his rucksack in the foyer of Manchester Arena at the end of a concert by US artist Ariane Grande five years ago. AP Photo
  • People watch on as Prince William makes a speech. AFP
    People watch on as Prince William makes a speech. AFP
  • Prince William and Kate arrive at Manchester Cathedral. Reuters
    Prince William and Kate arrive at Manchester Cathedral. Reuters

“The elegant design … pays homage to the maturity and grace of the prince, who has become a senior member of the royal family, a devoted husband and a loving father of three, through the eyes of the world," said Clare Maclennan, director of commemorative coins at the Royal Mint.

“Marking this extra-special occasion, we have also struck a limited edition gold coin made with 5oz of fine gold and struck in high relief to elevate the artistry of the design.

“Our limited edition precious metal coins combine fine craftsmanship and rarity, making them an attractive keepsake for collectors and investors.

“The design strikes a balance between the fresh energy of His Royal Highness being a young dad with the ceremonial nature of his royal position," Mr Docherty said of the design.

“A three-quarter angle of the portrait creates a more dynamic portrait rather than a traditional side-on profile.

“I used certain clay-sculpting techniques on a digital platform to achieve the style needed for the design, to translate effectively from two to three dimensions.

“Using technology, we can now produce designs and sculptures with better efficiency compared to when I began my career 17 years ago.

“There’s a high level of skills and craftsmanship needed to sculpt designs. The tools are different but the principles remain the same.”

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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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