There are an estimated one million wild camels roaming the Australian outback.
There are an estimated one million wild camels roaming the Australian outback.

Australia to cull its camels



SYDNEY // Australia has begun drawing up plans to cull hundreds of thousands of wild camels amid concerns that marauding herds are tearing up the environment and depleting valuable supplies of water. One-humped dromedaries were imported into Australia after 1840 to help colonial settlers conquer the arid continent's inhospitable interior. A century later, the robust pack animals were no longer needed, superseded by trucks and trains. While some were slaughtered, many others were released into the desert where they have thrived. Apart from wild dogs, Australia's camels have had little to fear until now.

Deploying marksmen in helicopters is part of an A$19 million (Dh57m) government plan to kill two-thirds of a million-strong feral population. The cull would last four years, though no start date has been set. "This is what the scientists judge to be the minimum necessary to really knock down the detrimental effects the camels are having," said Tony Peacock, chief executive of the Invasive Animals Co-operative Research Centre at the University of Canberra.

"They are a big problem and it has been growing for many years; from simple things like going through fences and damaging water holes on properties to the big issue of competing with our native wildlife and knocking down our native vegetation." Camels are Australia's largest feral animals. Growing up to 2.1 metres tall and weighing in excess of 900kg, they are one of the country's most imposing and unusual sights. Like other introduced species, including foxes, rabbits and cane toads, the camels have become a virulent pest in the eyes of farmers and land owners, as rampaging herds have been known to harass remote communities in their search for water and food.

"They can do considerable damage to a settlement, ripping pipes off walls and going into a billabong [small pool] and taking all the water," said Mr Peacock, who detailed how camel numbers were doubling every decade. "We'd like to see about 650,000 of them culled. To do that efficiently the only real way is by shooting them. Obviously this is controversial. No one likes to kill animals but we have to think of our native animals and vegetation and the fact that they are under siege."

The proposed cull has incensed welfare groups, which have insisted there is no way of knowing just how many camels are roaming across the Outback and believe that official estimates may have wildly exaggerated the scale of the problem. "The perennial question with feral populations is are they, in fact, in plague proportions? The government has failed to provide any substantial scientific evidence that proves that these animals are in such numbers that they need to be culled," said Cynthia Burnett, a spokeswoman for Animal Liberation Queensland.

"Part of the problem is when you have these feral animals which have the opportunity to range over vast distances, it may be a matter of perception that they are in plague proportions." Plans to shoot so many camels have horrified some campaigners who say the mass extermination programme would be barbaric. "Aerial culling seems to be the flavour of the day for governments. They [the marksmen] are not going to be able to make a clean kill on every animal that they target and there are going to be wounded animals left behind," Mrs Burnett said. "There will be those that are wounded in the crossfire and terrified by a barrage of bullets descending upon a large number of these animals."

At a place called Little Egypt, a haven for camels has been built in the seaside town of Yeppoon, north of Brisbane. It is the work of John Richardson, who has erected a giant plastic dromedary and fake pyramids to encourage tourists to visit his herd of 50 racing camels, which compete in events across Australia. "A cull would be a sin because they are majestic and very intelligent animals," said Mr Richardson, who believes the camels, although undoubtedly a nuisance in some parts of the continent, should be revered for their part in Australia's colonial history.

"In those harsh conditions it took an animal like the camel, which doesn't need a lot of water, to carry railway sleepers, wool bales and they did a marvellous job in opening up the Outback." Rather than simply sanctioning a wholesale slaughter, Mr Richardson believes, the authorities should think instead of ways to reduce numbers by establishing a viable meat industry for both domestic consumption and export.

"It tastes great and is low in cholesterol. So, why just go and shoot them and let them rot in the paddock when there are things you can do with them? There are a lot of people out there starving. I think it is a crying shame." Australian government officials have said harvesting wild camel meat on a commercial scale would be problematic given the enormous distances involved. The planned cull would be a monumental undertaking and involve hunting the animals over 3.3 million square kilometres of barren terrain.

pmercer@thenational.ae

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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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