You don’t have to work in the oil industry to feel the effects of low prices, even money managers are feeling the pain.
Oil-rich Gulf states have been pulling their money from asset management companies faster than ever, according to an FT report.
The sovereign wealth funds of countries such as Saudi Arabia and Kuwait withdrew at least $19 billion (£12.6 billion) in the third quarter of the year.
Aberdeen Asset Management, one of the biggest asset managers in Europe, has also been one of the hardest hit – recording 10 consecutive quarters of outflows.
