Kate, the Princess of Wales will review Trooping the Colour in June, ahead of the main parade marking the King's official birthday. Getty Images
Kate, the Princess of Wales will review Trooping the Colour in June, ahead of the main parade marking the King's official birthday. Getty Images
Kate, the Princess of Wales will review Trooping the Colour in June, ahead of the main parade marking the King's official birthday. Getty Images
Kate, the Princess of Wales will review Trooping the Colour in June, ahead of the main parade marking the King's official birthday. Getty Images

Princess of Wales will return to duty to review Trooping the Colour in June


Soraya Ebrahimi
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Kate, The Princess of Wales, will carry out her first major engagement since her operation when she reviews Trooping the Colour, five months after she was forced to step back following abdominal surgery.

The British Army's official website confirmed that the royal would review troops on June 8, ahead of the official parade in central London a week later.

It also names King Charles III as attending the main Trooping ceremony – also known as the Birthday Parade because it marks the sovereign’s official birthday.

It appears the Ministry of Defence hopes Kate will be well enough to attend one of the key ceremonial events in the armed forces’ year.

But only Kensington Palace, Kate’s official office, can announce her attendance at a royal event and confirmation is not expected until nearer the time.

The Princess of Wales was admitted to the London Clinic – the private hospital where King Charles underwent treatment for an enlarged prostate – for a planned operation on January 16, and left on January 29.

On Monday, it was revealed that she had been seen in public for the first time since the surgery.

According to US news website TMZ, the Princess was pictured near Windsor Castle in the passenger seat of a car.

She was wearing dark sunglasses in a black Audi, which was being driven by her mother, Carole Middleton.

King Charles, 75, had visited his daughter-in-law’s bedside after being admitted to hospital himself on January 26. She was also visited by her husband, the Prince of Wales.

First Trooping the Colour of King Charles III – in pictures

  • Britain's King Charles, Queen Camilla, Prince William, Catherine, Princess of Wales, Prince George, Princess Charlotte, Prince Louis and Anne, Princess Royal appear on the balcony of Buckingham Palace as part of Trooping the Colour parade to honour Britain's King Charles on his official birthday in London, Britain. Reuters
    Britain's King Charles, Queen Camilla, Prince William, Catherine, Princess of Wales, Prince George, Princess Charlotte, Prince Louis and Anne, Princess Royal appear on the balcony of Buckingham Palace as part of Trooping the Colour parade to honour Britain's King Charles on his official birthday in London, Britain. Reuters
  • Members of the public cheer as they watch the Royal Air Force Aerobatic Team, the Red Arrows during the King's Birthday Parade, 'Trooping the Colour', in London. AFP
    Members of the public cheer as they watch the Royal Air Force Aerobatic Team, the Red Arrows during the King's Birthday Parade, 'Trooping the Colour', in London. AFP
  • Britain's King Charles salutes as he rides on horseback as part of the Trooping the Colour parade, which honours him on his official birthday, in London. Reuters
    Britain's King Charles salutes as he rides on horseback as part of the Trooping the Colour parade, which honours him on his official birthday, in London. Reuters
  • From left, Prince William, Prince Edward, the Duke of Edinburgh, King Charles and Princess Royal Anne depart Buckingham Palace for the Trooping the Colour ceremony at Horse Guards Parade, central London. PA
    From left, Prince William, Prince Edward, the Duke of Edinburgh, King Charles and Princess Royal Anne depart Buckingham Palace for the Trooping the Colour ceremony at Horse Guards Parade, central London. PA
  • Prince William leaves Buckingham Palace. AP
    Prince William leaves Buckingham Palace. AP
  • Princess Anne, Princess Royal on horseback. Getty Images
    Princess Anne, Princess Royal on horseback. Getty Images
  • Queen Consort Camilla and Catherine, Princess of Wales during Trooping the Colour. Getty Images
    Queen Consort Camilla and Catherine, Princess of Wales during Trooping the Colour. Getty Images
  • From left, Prince George, Prince Louis and Princess Charlotte. PA
    From left, Prince George, Prince Louis and Princess Charlotte. PA
  • The Duke and Duchess of Gloucester. PA
    The Duke and Duchess of Gloucester. PA
  • The Duke of Kent. PA
    The Duke of Kent. PA
  • Prime Minister Rishi Sunak and his wife Akshata Murty. PA
    Prime Minister Rishi Sunak and his wife Akshata Murty. PA
  • Britain's Sophie, Duchess of Edinburgh, left, and Vice Admiral Timothy Laurence leave on horse carriage. AFP
    Britain's Sophie, Duchess of Edinburgh, left, and Vice Admiral Timothy Laurence leave on horse carriage. AFP
  • Members of the Household Division during the ceremony. PA
    Members of the Household Division during the ceremony. PA
  • Members of the Household Cavalry on The Mall before Trooping the Colour. PA
    Members of the Household Cavalry on The Mall before Trooping the Colour. PA
  • Coldstream Guards, a regiment of the Household Division Foot Guards, parade down The Mall. AFP
    Coldstream Guards, a regiment of the Household Division Foot Guards, parade down The Mall. AFP
  • Members of the Household division on The Mall. PA
    Members of the Household division on The Mall. PA

After she left the clinic, she returned to Adelaide Cottage in Windsor to be reunited with her three children, Kensington Palace said.

Details of the princess’s condition have not been revealed but the palace has said it is not cancer-related and that she wished her personal medical information to remain private.

The future queen, 42, was last pictured in public, on a Christmas Day walk in Sandringham, Norfolk.

A week after she left hospital, King Charles announced he had been diagnosed with cancer and was receiving treatment.

Prince William, 41, temporarily stepped back from his royal role to juggle caring for the Princess and their children.

He returned to public engagements in early February.

Kate’s parents and siblings, Pippa Matthews and James Middleton, were expected to be helping out the Waleses.

Kate, Princess of Wales’s red carpet style – in pictures

  • The Princess of Wales wears an altered Alexander McQueen dress to attend the 2023 Bafta Awards in London on February 19. AFP
    The Princess of Wales wears an altered Alexander McQueen dress to attend the 2023 Bafta Awards in London on February 19. AFP
  • The Duchess wore a red Jenny Packham dress along with the diamond and pearl Lotus Flower Tiara for a Diplomatic Corps reception at Buckingham Palace on December 6, 2022. Getty Images
    The Duchess wore a red Jenny Packham dress along with the diamond and pearl Lotus Flower Tiara for a Diplomatic Corps reception at Buckingham Palace on December 6, 2022. Getty Images
  • Kate re-wore this white and gold Alexander McQueen gown for the 2020 Baftas on February 2, 2020 in London. Getty Images
    Kate re-wore this white and gold Alexander McQueen gown for the 2020 Baftas on February 2, 2020 in London. Getty Images
  • Kate wore a black and white off-the-shoulder column gown by Roland Mouret for the Top Gun: Maverick premiere on May 19, 2022 in London. Getty Images
    Kate wore a black and white off-the-shoulder column gown by Roland Mouret for the Top Gun: Maverick premiere on May 19, 2022 in London. Getty Images
  • Kate wore a silk duchesse satin dress by British designer Phillipa Lepley to attend a reception hosted by the Governor General at Baha Mar Resort on March 25, 2022 in Nassau, Bahamas. Getty Images
    Kate wore a silk duchesse satin dress by British designer Phillipa Lepley to attend a reception hosted by the Governor General at Baha Mar Resort on March 25, 2022 in Nassau, Bahamas. Getty Images
  • Kate's green tulle gown, worn for a dinner hosted by Patrick Allen, Governor General of Jamaica, at King's House on March 23, 2022 in Kingston, Jamaica, was by Jenny Packham. Getty Images
    Kate's green tulle gown, worn for a dinner hosted by Patrick Allen, Governor General of Jamaica, at King's House on March 23, 2022 in Kingston, Jamaica, was by Jenny Packham. Getty Images
  • Kate's magenta dress by the label The Vampire's Wife, worn for a special reception hosted by the Governor General of Belize in celebration of Queen Elizabeth II’s platinum jubilee on March 21, 2022 in Cahal Pech, Belize. Getty Images
    Kate's magenta dress by the label The Vampire's Wife, worn for a special reception hosted by the Governor General of Belize in celebration of Queen Elizabeth II’s platinum jubilee on March 21, 2022 in Cahal Pech, Belize. Getty Images
  • The Princess of Wales wore an Alexander McQueen dress to the 2019 Baftas, repeating it for the 2023 event. Getty Images
    The Princess of Wales wore an Alexander McQueen dress to the 2019 Baftas, repeating it for the 2023 event. Getty Images
  • The green Jenny Packham column dress Kate wore to the 2021 Royal Variety Performance at the Royal Albert Hall in London was a re-wear from her 2019 tour of Pakistan. Getty Images
    The green Jenny Packham column dress Kate wore to the 2021 Royal Variety Performance at the Royal Albert Hall in London was a re-wear from her 2019 tour of Pakistan. Getty Images
  • Kate wore a decade-old Alexander McQueen dress for the Earthshot Prize 2021 at Alexandra Palace on October 17, 2021 in London. Getty Images
    Kate wore a decade-old Alexander McQueen dress for the Earthshot Prize 2021 at Alexandra Palace on October 17, 2021 in London. Getty Images
  • Kate wore the Bond-themed 'Goldfinger dress' by Jenny Packham to attend the No Time To Die world premiere on September 28, 2021 in London. Getty Images
    Kate wore the Bond-themed 'Goldfinger dress' by Jenny Packham to attend the No Time To Die world premiere on September 28, 2021 in London. Getty Images
  • Kate wore a green Jenny Packham gown to attend the Baftas on February 18, 2018, in London. Getty Images
    Kate wore a green Jenny Packham gown to attend the Baftas on February 18, 2018, in London. Getty Images
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Director: John Madden 

 

Cast: Colin Firth, Matthew Macfayden, Kelly Macdonald and Penelope Wilton

 

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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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UAE currency: the story behind the money in your pockets
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Updated: March 05, 2024, 1:50 PM