Sustained low oil prices since late 2014 have impacted the investment strategies of the full spectrum of companies across the Middle East. Sovereign Wealth Funds (SWFs) are no exception.

SWFs from the six GCC countries alone account for a massive $2.9 trillion or 40% of total global holdings, according to figures from the New York-based SWF Institute (SWFI), with the region containing four of the five biggest funds: on a by-country basis the UAE is second only to China in overall holdings (see chart). The broader MENA region as a whole has $3.1 trillion of assets under management. (CONTINUED - 1992 WORDS)