16th Oct 2023 17:57
Gulf Investment Fund PLC - Isle of Man-based investment fund focusing on Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Kuwait and Oman - Reports 1% fall in its net asset value in the three months ended September 30, no values were given. Explains it outperformed the benchmark S&P GCC Composite Index in the quarter by 0.6%. Notes the fund was helped by a slight underweight in Saudi Arabia, which was down 3.5%, and Kuwait, down 2.0%, and being overweight in Dubai, up 9.8%, and Qatar, up 1.8%. In the nine months to the end of September the GIF NAV rose 19.4%, outperforming the benchmark by 15.7%, company says. Believes the outlook for the Gulf Cooperation Council is good with socio-economic reforms, tourism initiatives and mega infrastructure projects.
Current stock price: 176.00 pence
12-month change: down 11%
By Jeremy Cutler, Alliance News reporter
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