Oil price rises and tumbling local stock markets have made the Gulf Cooperation Council (GCC) a mouthwatering prospect for fund managers of any hue.

The numbers are compelling: potential Middle Eastern capital available for investing (private wealth and institutional funds) has been estimated at $4,100bn (£2,022bn, €2,797bn) by McKinsey Global Institute. Hedge Fund Research (HFR) says this makes "the Arab world one of the most valuable sources of investment capital available in the world today".