IN BRIEF: Gulf Investment Fund Outperforms Benchmark In Quarter

Gulf Investment Fund PLC - the closed-ended investment company - Says net asset value rose 12.4% ...

Alliance News 10 July, 2020 | 2:23PM
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Gulf Investment Fund PLC - the closed-ended investment company - Says net asset value rose 12.4% in the three months to the end of June, while the fund's benchmark, the S&P GCC index, was up 11.7%. On June 30, the company's share price was trading at a 7.5% discount to NAV. During the quarter the fund's exposure to Saudi Arabia increased by 9.9%, while exposure to Kuwait was reduced by 3.3%. Looking forward, the company said its investment adviser believes that the recovery is now gaining a foothold and will extend into the second half of 2020.

Current stock price: USD1.11

Year-to-date change: down 9.5%

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Gulf Investment Fund Ord 1.38 USD 0.00 -

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