22nd Oct 2021 21:30
Gulf Investment Fund PLC - invests in companies in Gulf Cooperation Council countries - As at September 30, net asset value rises 6.6% over the third quarter, underperforming against the S&P GCC Composite Index, which rose 7.0%.
The fund attributed the underperformance mainly to being underweight in Saudi Arabia, which large stocks, mainly bank rallied on news about the USD1.3 trillion Shareek program, which is aimed at boosting private investment.
Current stock price: USD1.75
Year-to-date change: up 35%
By Dayo Laniyan; [email protected]
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