A pregnant woman receives an H1N1 vaccine in the US. The UAE is now in the final stages of preparing its vaccination programme.
A pregnant woman receives an H1N1 vaccine in the US. The UAE is now in the final stages of preparing its vaccination programme.

Swine flu jab may be obligatory for pregnant women



ABU DHABI // Pregnant women seem to be particularly affected by the H1N1 flu virus and vaccination may be made obligatory for them, a Ministry of Health official said yesterday. Dr Mahmoud Fikri, the head of the National Scientific Committee for H1N1, told a public meeting that the UAE was now in the final stages of preparing its vaccination programme as Haj was finished and pilgrims were no longer the priority group.

The meeting was also attended by Dr Keiji Fukuda, a special adviser on pandemic influenza for the World Health Organisation (WHO). Dr Fukuda praised the UAE for its handling of the pandemic. Dr Fikri, who is a senior member of the Ministry of Health, said pregnant women, healthcare workers, people with chronic diseases and children up to 18 would get priority for the vaccine. He said it would probably be obligatory for pregnant women because they had been most affected by the virus, but the final decision would be taken this week.

The UAE's committee was meeting last night to finish its vaccination action plan across all seven emirates. "We are following World Health Organisation recommendations for people who are more endangered," Dr Fikri said. "The first phase is pregnant women, then those with chronic diseases and then healthcare workers. It depends on the technical committee - they will decide." The WHO recommends that, because of the "substantially elevated" risk of a severe outcome in pregnant women infected with the pandemic virus, any licensed vaccine can be used in pregnant women.

Two of the six H1N1 deaths reported in the UAE were young women in the later stages of pregnancy. Both babies were born healthy by Caesarean section. The first H1N1 case in the UAE was a man who had recently returned from a trip to Canada in May. The Ministry of Health announced in June that the vaccine would also be mandatory for all schoolchildren. The director general of the ministry at the time said it was in line with WHO recommendations and was a "sensible" decision. It is unclear whether this is still the case as the WHO recommendations have evolved with more knowledge of the virus.

Pregnant women are 10 times more likely than the general population to be admitted to an intensive care unit if they contract the virus, the WHO reported. According to a report by the Strategic Advisory Group of Experts on immunisation at the WHO, between seven and 10 per cent of all hospitalised H1N1 cases are pregnant women in their second or third trimester. The group said that, as of October 17, there were 414,000 confirmed H1N1 cases globally and almost 5,000 deaths, but the actual number was expected to be much higher - many countries have stopped confirming individual cases.

Dr Fikri said the Ministry of Health was not keeping count of all cases as many people were not given a laboratory diagnosis. He said the number of people in the UAE affected by the virus was probably on a par with the global average. "People should not be panicking at all," he said. "There are two things to remember - this is treatable and there is a vaccine." Dr Fukuda said it was impossible to predict the global impact of the virus but previous pandemics showed that around a third of a country's population can expect to be affected.

Officials at the meeting, at the Emirates Centre for Strategic Studies and Research, announced the topics for the upcoming Crisis and Emergency Conference. The conference, from January 11 to 13, will highlight public health and national security issues and focus on the "pressing need" for integrating emergency response into national security and health care challenges. Topics will include volunteering during disasters and emergencies, cyber security and trauma care. It is being organised by the National Crisis and Emergency Management Authority, which hosted the forum yesterday.

munderwood@thenational.ae * With additional reporting by Hassan Hassan

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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.”

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