Mitsubishi’s Eclipse Cross has been designed to look as agile and sporty as possible for a car that will not cost you a lot of cash.
That much is obvious from the first glance. The coupe SUV has grooves a-plenty adorning its neat little body, plus lots of diverting external features, such as a multiple head and fog light set-up and a prominent (though not overly alarming) front grille.
The shark-fin antenna at the rear end of the Eclipse Cross’s roof is a nice addition, too.
While the car possesses a sense of conviviality just from outward looks alone, thankfully, you experience something similar to that initial impression when you spark up the engine and get out on the road.
The Eclipse Cross is a nifty little mover and, while there are sportier cars of a similar size out there, you can swing this one in and out of corners with more than a degree of liveliness.
We often use the word zippy to describe a vehicle that’s on the fast side, but you can say the same thing in relation to the Eclipse Cross if you mean something that feels zesty.
Admittedly, the acceleration isn’t mind-blowing, but it is perfectly acceptable for a vehicle as inexpensive as this at less than Dh80,000.
On the plus side, as you’re rolling along, the ride quality is cozy and that sensation gets a boost as the cabin is quieter than a lot of similarly sized rivals. That’s not just the case with sedate city driving, either; you also don’t get any extreme engine noise when you put your foot to the floor.
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
The Eclipse Cross has been fitted with Mitsubishi’s S-AWC (super all-wheel control) system. This is a dynamic control set-up that optimises accelerating and braking potential.
The reasons for this are one for the technicians but, simplistically put, it works by delivering the optimum amount of power to each wheel.
Every Eclipse Cross trim line has an eight-speed sports mode variant as well, should you feel the need to sharpen things up a little.
The car isn’t huge on the inside, but it should cart five people around acceptably without compromising on rear luggage space.
The layout inside is functional without being too basic and you get some reasonable tech for a car sitting at this particularly agreeable price point.
All models come with an 8-inch touchscreen, while the higher end versions get a head-up display as well.
Cars of this sort – vehicles with that word “cross” in their monikers, we mean – are often referred to as soft SUVs, indicating they’re suitable for a little lightweight off-roading but nothing too taxing.
Even though a four-wheel-drive option is available, this isn't really one for the desert. However, that is not going to be an issue for anyone who opts for an Eclipse Cross as drag racing or tearing over rough ground is unlikely to be top of mind.
What they will be after is zipping around the tarmac in a budget ride that’s firmly on the cheap and cheerful side. For those who get the idea of what Mitsubishi intended here will enjoy swinging an Eclipse Cross around.
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Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
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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.”
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
