UK scientists say they have identified the origin of one of the rarest meteorites to ever fall on Earth.
The Ivuna meteorite landed in Tanzania in December 1938 and was split into samples, one of which is housed at the Natural History Museum in London.
Experts believe the Ivuna rock may have originated from the edge of the solar system after an analysis of an asteroid known as Ryugu.
The museum team said its findings, published in the journal Science Advances, could unlock more answers about the early history of the solar system and shed more light on how life came to exist on Earth.
“It is a really exciting discovery for me because it shows that meteorites in our museum and in collections around the world might actually sample most of the solid solar system, from the innermost rocky part to its furthest outer reaches," Prof Sara Russell, a senior researcher at the museum and co-author of the paper, told PA.
“We can use them to learn more about our origins and about all our companion planets.”
The Ivuna falls into a category of extremely rare meteorites known as CI chondrites.
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These are stony, carbon-containing meteorites that retain the original primitive chemistry from the formation of the solar system more than four billion years ago.
They have been known to contain water – one of the key ingredients to life.
Prof Russell said that apart from Ivuna, only four known CI-type meteorites exist on Earth: Orgueil and Alais, which both fell in France; Tonk which fell in India; and the tiny Revelstoke meteorite that hit Canada.
“It’s only within the last decade we’ve begun to appreciate just how far objects in the solar system can move towards and away from the sun,” she said.
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For the study, the team examined Ryugu samples, which were remotely brought back to Earth in 2020 by Japanese spacecraft Hayabusa2.
It is thought that Ryugu, which is classed as a near-Earth object, was born in the outer solar system more than four billion years ago and broke away from a larger body, migrating towards Earth.
It is now located between the Earth and Mars and orbits the Sun.
Ryugu belongs to a class of asteroids called carbonaceous, or C-type, asteroids.
C-type asteroids are rich in water, carbon and organic compounds from when the solar system formed.
The researchers said Ryugu and the CI chondrites originate from the same region of space and cannot rule out the possibility that they could even share the same parent body.
“By comparing the forms of iron in both the asteroids and meteorites, we learnt that Ryugu is a remarkably close match to CI chondrites,” Prof Russell said.
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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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