IN BRIEF: Gulf Investment Fund underperforms benchmark in quarter

Gulf Investment Fund PLC - invests in companies in Gulf Cooperation Council countries - As at ...

Alliance News 22 October, 2021 | 9:30PM
Email Form Facebook Twitter LinkedIn RSS

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; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Gulf Investment Fund Ord 1.75 539 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.