Gulf Investment Fund - Update research from QuotedData
18th April 2023
On the gulf of a new economy
The team behind the Gulf Investment Fund (GIF) has more than proven its worth as an active manager, having negotiated the turbulent markets of 2022 to deliver truly impressive outperformance of both GIF's peers and its benchmark. In particular, in recent trading activity, it has eschewed some of the more highly-valued regions, and the globally exposed petrochemical sector (as at 31 December 2022, GIF had no direct exposure and limited indirect exposure), in favour of more-attractively-valued opportunities focused on the domestic economies of the Gulf. This includes a substantial investment into local companies in Saudi Arabia. GIF continues to offer significant diversification benefits for global portfolios, thanks to the Gulf's idiosyncratic markets.
With this strong performance has come a positive re-rating of GIF's share price and a narrowing of its discount. The trust has traded at asset value on average over the last 12 months, and is currently trading on a 4.9% discount. It also has an enhanced dividend policy targeting a total annual dividend equivalent to 4% of the preceding year's net asset value (NAV).
Full Research:
https://quoteddata.com/research/gulf-investment-fund-gulf-economy-qd/
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NB: Marten & Co was paid to produce this note on Gulf Investment Fund Plc and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the Financial Conduct Authority. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.
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