Christina Aguilera has said that she named her album after a flower that "survives under the hardest conditions". Jonathan Alcorn / Reuters
Christina Aguilera has said that she named her album after a flower that "survives under the hardest conditions". Jonathan Alcorn / Reuters

Christina Aguilera: Lotus



Christina Aguilera
Lotus
RCA
***

While Mary J Blige sang Roses and The White Stripes offered us a Blue Orchid, it's the lotus that attracts Christina Aguilera. "My album title represents an unbreakable flower that survives under the hardest conditions and still thrives," the 31-year-old singer recently gushed on Twitter.

As a coach on the US vocal talent show The Voice since last year, Aguilera has been party to the cloyingly emotive triumph-over-adversity stories such shows routinely deploy. It's interesting, then, that Lotus has something of the phoenix from the ashes about it, too.

"I say goodbye to the scared child inside … embrace the woman I've become," she sings on Lotus Intro, its arrangement a lattice of soft-pulsing voices and fat kick drum. She didn't seem to have much of a scared child about her in the promo video for her 2002 hit Dirrty, but then appearances can be deceptive.

To be fair, Aguilera has been on the back foot lately. Even if her guest slot on Maroon 5's Moves Like Jagger made her ubiquitous earlier this year, her 2010 album Bionic was largely deemed disappointing, and last year she divorced from her husband Jordan Bratman, the father of her 4-year-old son Max.

On Lotus, any resulting vulnerability is contained within the album's brace of show-stopping power ballads. "All I have is three million melodies to cure the hurt," Aguilera sings on Sing For Me, its spare backing throwing the pint-sized diva's still-astonishing vocal prowess into stark relief. Its piano-led counterpart Blank Page is as emotionally manipulative as an X Factor final, but like Jim Steinman essaying another telegraphed chorus for Meat Loaf, you find yourself going with it.

Elsewhere, the majority of Lotus is about moving on. The flagship single Your Body is anthemic, ear-candy-crammed electropop produced by Max Martin and Shellback, while Red Hot Kinda Love, all cooed hooks and frivolity, suggests Aguilera hasn't been spending her nights without Bratman playing solitaire.

Though Army of Me has too idiosyncratic a title not to have been cribbed from the Björk song and Just A Fool – an incongruous duet with the Grammy-nominated country singer Blake Shelton – is too brazen an attempt at crossover appeal to fully endorse, Lotus's decent quota of exhilarating pop impresses. Best of all, perhaps, is Make the World Move, which features Cee Lo Green. "Turn up the love / turn down the hate," roars Aguilera. Now who could argue with that?

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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