The Odyssey can comfortably seat eight adults.
The Odyssey can comfortably seat eight adults.

Road test: 2011 Honda Odyssey



Is the minivan cool again?

Well, I'm not sure they were ever really cool. But there was a point when they were extremely popular with families, and for good reason: they offered plenty of room for the brood along with decent fuel economy. But then the macho SUV started to get popular, and a lot of buyers thought the extra cost of filling up at the pumps was more than worth being seen as "cool" in a tall 4x4.

Which is silly, really. Let's face it: you may not be the type who wants to take the family vehicle into the dunes here, either because you're just not the outdoors type or you don't want to risk your expensive vehicle off-road. Hey, maybe you're so extreme you've even got a dedicated off-roader or motocross bike, but still need a larger family vehicle for getting them to school or the occasional longer trip.

If these descriptions relate to you, then there's no reason why you shouldn't be looking at a minivan. And if you're also looking for a bit of luxury and an insane amount of optional equipment to keep you and the rest of the family happy, then you should look at the new Honda Odyssey.

Released last year, this latest version of the Japanese company's people mover has grown both bigger and more beautiful, making it easily one of the best minivans on the road today.

The new 3.5L V6 is superb; it's smooth and quiet and gives a good, steady push at just about any speed. On this Touring model, it's coupled to a six-speed automatic that works well and gives better fuel economy that its base five-speed version.

The ride is firm but very comfortable, with very little wind and road noise. And the handling - well, it's surprisingly agile, but you do feel the Odyssey's size and weight in the corners. But who would use a minivan for slaloms anyway?

The only driving bugaboo I had was with the brakes; although they are certainly up to the task of stopping safely, the pedal needs a touch more force than you'd expect from a family car. A bit more boost would be appreciated.

Inside is absolutely cavernous. The seating positions in the front are high, so you can pretend that you're driving a big SUV, and there is room for eight full-sized adults in total to lounge comfortably in the plush, leather seats, with plenty of head and leg room for all. The cargo area behind the third row of seats will fit just about anything; its floor is recessed, giving a deep well to put your stuff. And although the seats don't fold into the floor, they are removable to give you enough room to practically move your family in - Honda lists the interior space at almost 5,000L. Hey, that way, you can live in any neighbourhood you want!

It seemed that the more time I spent with this car, the more pleasant surprises seemed to spring up. Of course, there are the prerequisite creature and driver comforts, such as cruise control, sat/nav, an excellent stereo system, split climate controls, etc etc. But there are also myriad other features that distinguish the Odyssey as a car that was clearly planned out for families in mind.

There's a cool box in the centre console on the dash that will keep a few drinks chilled, along with gads of other little storage areas all around the interior. Not only that, but the deep centre box that sits between the driver and passenger is completely removable, which would leave the entire space between the rear door and the dashboard completely free for longer items. There are also power sliding doors on the sides and a power rear hatch, which can all be opened with the key fob.

At one point, I popped down the sunglasses holder above the windshield and was curious about the convex mirror that came down with it, only to realise it was there to keep an eye on the mischievous kids in the back seats: very clever.

To keep those children quiet in the back, this Touring model comes with the optional 16.2-inch, split-screen, DVD video system that drops down from the roof behind the front seats. There are plugs for headphones and USB jacks for more personal entertainment, too; there should be no reason to complain on longer trips.

The price of this Touring version is considerably higher than the base Odyssey, but with all of its options the cost is favourable compared with other large, luxury minivans and SUVs. Add to all this Honda's legendary build quality and a five-star safety rating by the National Highway Traffic Safety Administration in the US, and you have a versatile vehicle that seems perfect for a large family. That is, if you have the self-confidence to be seen in a minivan.

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.”

Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills