Christine Alessandrini, 42, along with Julie, 12, and Thomas, 10, with the caravan near Jumeirah open beach opposite Dubai zoo. Pawan Singh / The National
Christine Alessandrini, 42, along with Julie, 12, and Thomas, 10, with the caravan near Jumeirah open beach opposite Dubai zoo. Pawan Singh / The National

French mum's campervan odyssey with kids in tow brings her to UAE



DUBAI // A French mother and her two children have arrived in the UAE in their latest stop of an epic adventure from Europe to South-East Asia - by camper van.

Christine Alessandrini, 42, along with Julie, 12, and Thomas, 10, left the family home in Nantes in August and have driven more than 7,000km through Italy, Austria, Hungary, Romania, Bulgaria, Turkey and Iran before arriving in Sharjah by ferry in November.

They are currently in Dubai and have visited Oman and Musandam. They plan to set off for Thailand early in February and continue on to Laos and Cambodia before travelling all the way back to France. If everything goes to plan, they will have covered more than 27,000km by the time they arrive home.

The family's trip, however, has not been all trouble-free and she told of the heart-stopping moment they feared their camper van was about to plunge over a mountain precipice.

Christine was driving up a steep, winding road in the Dolomites in north-east Italy with Julie and Thomas when the Ford Autostar ran out of power.

"My vehicle is not four-wheel drive and is heavy and not that powerful," she said. "We were on a winding road that was very steep and at one point I could not go on any further. The engine was smoking a lot and smelling so bad.

"It was really stressful, it wouldn't go forward and was rolling a little backwards and we had this sheer drop on the right. Julie and Thomas were really frightened, they thought we were going to go backwards over the precipice and die.

"The only thing I could do was drive backwards, but that was so crazy because of the precipice and the winding turns. That was the worst moment, they were in tears. But we got down safely."

Despite this scare, Christine said she had never regretted setting off with the children on the trip of a lifetime.

"I wanted to show the world to my children and really open their minds," said Christine, a self-defence instructor. "I love travelling and wanted to share this with them."

Her husband Bertrand, a scientist, has remained at home. She added: "He's just not the travelling type. He is very special but he doesn't want to travel at all.

"He supported me, though he was worried about some of the countries and what I would do if the children were sick and how I would manage to take care of them all the time. But you can manage on your own."

The youngsters are loving the trip, but Julie said: "I miss my dad and my friends, though I like being in Dubai."

Thomas said he missed his father as well, and was longing for some French food. Looking around the cramped interior of the camper van, he added: "I miss the space in our house, some space for myself."

Christine, who spent two-and-a-half years planning the journey, is careful to avoid any potential risks and scrapped plans to drive across Pakistan as she felt this would not be safe. She is home-teaching the youngsters and expects the return trip to take between 10 months and a year.

All three said the best part of their travels so far had been the kindness shown to them by people they met, particularly in Iran and Oman. Christine was surprised at how safe she felt most of the time, though she had trouble with men making unwelcome approaches on two occasions. Both times she was able to defuse the situation.

In Iran she tried to ward off male curiosity by buying a fake black beard and passing herself off as a man. However the plan backfired as the startling spectacle of her wearing the heavy beard and dark glasses only drew more attention.

She said: "The children were going to swear I wasn't their mother any more, they kept saying: 'Mummy, it's shaming, take it off'."

Full details of the family's journey are available at jumatolie.eklablog.fr/

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.”

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)

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