Gulf Investment Fund said net assets grew 1% in the third quarter, outperforming the fund's benchmark, the S&P GCC index, which fell 5.5%. The fund's outperformance during the quarter was attributed to substantially lower exposure to Saudi Arabian market, which performed negatively, while, relatively higher exposure to the UAE market further supported the outperformance, the company said. During the quarter, Saudi Arabia was down 8.3%, Kuwait down 2.6%, and Qatar down 0.8%; partly offset by gains in Dubai (up 4.6%), Abu Dhabi (up 1.6%), Oman (up 3.4%) and Bahrain (up 3.1%). So far in 2019 the NAV was up 17.9% against the benchmark's 3.7%, the company said. At 9:56am: (LON:GIF) Gulf Investment Fund Plc Ord Usd0.01 share price was -0.01p at 1.24p
Sign up to our
Subscribe to the latest investing news by entering your email address below
You can opt out at any time.
For five days a week you will get
- The latest company news
- Insight into investment trends
- Round-up of director's buys and sells
- Articles from Shares magazine
Plus more useful investment content and occasional promotional offers.
UK 350 Risers and Fallers
Tweets not available.