Robert F Kennedy Jr. speaks on a screen during an anti-vaccine mandate rally at the Lincoln Memorial on the National Mall in Washington, US. Bloomberg
Robert F Kennedy Jr. speaks on a screen during an anti-vaccine mandate rally at the Lincoln Memorial on the National Mall in Washington, US. Bloomberg
Robert F Kennedy Jr. speaks on a screen during an anti-vaccine mandate rally at the Lincoln Memorial on the National Mall in Washington, US. Bloomberg
Robert F Kennedy Jr. speaks on a screen during an anti-vaccine mandate rally at the Lincoln Memorial on the National Mall in Washington, US. Bloomberg

RFK Jr apologises on Twitter after backlash for Anne Frank comment


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Anti-vaccine activist Robert F Kennedy Jr apologised on Tuesday for suggesting things are worse for people today than they were for Anne Frank, the teenager who died in a Nazi concentration camp after hiding with her family in a secret annex in an Amsterdam house for two years.

Mr Kennedy’s comments, made at a Washington rally on Sunday put on by his anti-vaccine non-profit group, were widely condemned as offensive, outrageous and historically ignorant.

It’s the second time since 2015 that Mr Kennedy has apologised for referencing the Holocaust during his work sowing doubt and distrust about vaccines.

“I apologise for my reference to Anne Frank, especially to families that suffered the Holocaust horrors,” Mr Kennedy said in a tweet Tuesday morning.

“My intention was to use examples of past barbarism to show the perils from new technologies of control. To the extent my remarks caused hurt, I am truly and deeply sorry.”

Mr Kennedy’s wife, the actress Cheryl Hines of HBO’s Curb Your Enthusiasm, distanced herself from her husband in her own tweet about 20 minutes later. She called the reference to Anne Frank “reprehensible and insensitive”.

“The atrocities that millions endured during the Holocaust should never be compared to anyone or anything. His opinions are not a reflection of my own,” Ms Hines tweeted.

Mr Kennedy, a nephew of President John F Kennedy and the son of his slain brother, former US attorney general, civil rights activist and Democratic presidential contender Robert F Kennedy, on Sunday had complained that the nation’s leading infectious disease doctor, Anthony Fauci, was orchestrating “fascism”.

“Even in Hitler’s Germany, you could cross the Alps to Switzerland. You could hide in an attic like Anne Frank did,” he told the crowd.

An investigation by the Associated Press last month found that Mr Kennedy has invoked the spectre of Nazis and the Holocaust when talking about public health measures meant to save lives during the pandemic, such as requiring masks or vaccine mandates.

Last month, for example, he put out a video that showed Fauci in a Hitler moustache. In an October speech to the Ron Paul Institute, he obliquely compared public health measures put in place by governments around the world to Nazi propaganda meant to scare people into abandoning critical thinking.

Mr Kennedy apologised in 2015 after he used the word “holocaust” to describe children whom he believes were hurt by vaccines.

In his Tuesday apology, Mr Kennedy did not address his past invocations of Nazis, Hitler and the Holocaust when discussing vaccines.

Representatives of his non-profit, Children’s Health Defence, did not return emails asking about his past comments.

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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: June 21, 2023, 7:57 AM