A delicate performance by Tannishtha Chatterjee.
A delicate performance by Tannishtha Chatterjee.

Brick Lane



The making of this film was so controversial it drew protests from a small but vocal placard-wielding group within the Bangladeshi community of East London. The book from which the movie is derived was written by the Anglo-Bangladeshi author Monica Ali and was wildly popular with almost everyone except the elders of the Sylheti community populating the area now known as Banglatown for its high proportion of Bangladeshi inhabitants. The protesters, who called themselves the Campaign Against Monica Ali's Film Brick Lane, said that Ali (who is not a Sylhet) had misrepresented them, and were adamant that no filming would take place on Brick Lane - in spite of the fact that most members of the community were in favour of the film. The protesters won and the film crew conceded, filming elsewhere in London.

Ultimately, the shoot location is something that would disturb only viewers who are very familiar with the area surrounding Brick Lane - after all, London's post-war council estates differ little from postcode to postcode. But the extreme reaction does tell us something about the power of this subtle book and its subsequent film. In fact, after such an ominous lead-up, the tender tone and gentle pace of Brick Lane are instantly engaging and about as uncontentious as you could wish for. Opening in the vivid dream landscape of the paddy fields of Bangladesh, the young Nazneen and her younger sister Hasina's carefree childhood ends with the tragedy of their mother's death.

Nazneen's father arranges a marriage between the 17-year-old girl and Chanu (Satish Kaushik), a Bangladeshi man living in London's East End: educated, older than her, obese, pompous, but ultimately kindly. Cut to 16 years later, and Nazneen (delicately played by Tannishtha Chatterjee) is living a closed life ministering to her husband and her daughters Shahana (the excellent Naeema Begum) and Bibi (Lana Rahman), who are torn between their western upbringing and understanding their parents' traditional roles. Barely speaking English and leaving the council estate only to go to the market for food, she is desperate to return from the miserably cold, grey Brick Lane to her wild, beloved sister and the green fields of Bangladesh.

She takes on some piecework to save money for the journey, sewing garments for the dashing, fiery young market trader Karim (Christopher Simpson). As her husband reacts to what he sees as a criticism of his masculinity, she yearns for freedom and finds the world opening up beyond her house to the society surrounding her, including the post-September 11 politics of Muslim East London. As she begins to explore her own character and her environment, she realises that Brick Lane has become home not only for her but for her daughters who, like Karim, were born there. Especially poignant to anyone who is living away from home, this is a beautiful tale of independence (does she really need either her husband or Karim?) and of the different kinds of love she develops for Chanu, for her daughters and for her community.
gchamp@thenational.ae

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NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

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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.”