Road Test: 2013 Mercedes-Benz SLS Roadster

Oh no, there it goes again. I've just driven over a really slight speed bump and I can hear and feel some no doubt spectacularly expensive scraping going on. It's horrid. How on earth do drivers of these cars cope around Dubai? Because, while the SLS AMG Merc is an extremely rare supercar in other parts of the world, here they're pretty ubiquitous. Having said that, though, how many times have you clapped eyes on one like this? The SLS Roadster is turning its fair share of heads and I'm not a natural exhibitionist - can I cope with this thing for four whole days?

Of course I can, and whenever I open this car's taps and let that monstrous V8 engine do what it's born to do, I don't care about how many people see, hear and feel this extraordinary vehicle.

For anyone who views the SLS as a one-trick pony thanks to its gullwing doors, the Roadster might initially be a bit of a letdown, but they'd be wrong. Having forfeited its party piece for two, really small aperture, normal doors has, to my eyes at least, actually improved the looks of the car. With a folding canvas roof that gives a more pleasing profile when raised and disappears completely when lowered, the Roadster is a seriously good-looking machine. But the SLS is about more than showy appearances. The SLS could quite rightly claim to be all about that incredible engine.

The thundering heart of the SLS is always making itself known. It permeates every aspect of this car's character - a physical wubwubwubwubwubwub noise at tickover, rapidly evolving when you put your foot down into a wall of sound that makes the V8 appear to be gargling on a heady mix of double cream, masonry nails and broken glass. If you're not sold on the looks, the hilariously addictive soundtrack will get you every single time. That car alarm that's just started blaring in your street was probably set off by an SLS rumbling past it - it really is that physical.

So, looks and noise aside, what does the SLS Roadster bring to the table? Sadly, after the shock and awe of its lithe body, the interior plays things a bit too safe. It's all a bit normal, although it's beautifully screwed together - a good job, too, because that engine would shake it to pieces otherwise. It's certainly a cosy environment, with everything (including your passenger) in very close proximity, but that sense of oncoming claustrophobia can be banished at the mere tug of a switch, as the electrically powered roof retracts in just 11 seconds, even when driving at speeds up to 50kph.

Back to that engine. It sits so far back in the chassis that it's completely behind the front axle, meaning the SLS is actually mid-engined. The bonnet stretches out into infinity and you're almost sat atop the rear wheels - the closest I've come to driving a modern equivalent of the original Jaguar E-Type. Initially imposing, the SLS Roadster soon makes its approachable side known, however, by being a deft handler. On corners where I fear the car might bite me like some hissing cobra, it actually feels planted, secure and often benign.

It's not really ideal for normal supercar hooning, though. Its natural mode is GT and, as a long distance cruiser it excels. The engine note, though always present, relaxes at speed and provides no annoyance, and its huge energy reserves make for effortless overtaking moves. Stump-pulling torque to the tune of 650Nm is extremely useful sometimes.

In city traffic, it can be a pain, and I'm not just referring to its ludicrous low ride height (which is compounded by the sheer length of its wheelbase). The throttle seems quite digital - either on or off - and that can make for some embarrassing low speed maneuvers. After all, everyone is looking. The paddle shifting twin-clutch sequential gearbox can be a bit slow to react, too, but get it onto a long, open (and speed bump-free) road and you wouldn't want to be in anything else.

Yes, the SLS Roadster is a silly car. It's a wealthy person's plaything and is as dramatic as road cars get, yet it is also a supremely well engineered, thoughtfully designed and sufficiently refined cross-continent road weapon that takes few prisoners. I understand the appeal of these cars, I really do. Now, if you'll excuse me, I need to negotiate another speed hump. I may be some time.

khackett@thenational.ae

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

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PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

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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

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.”