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26 February 2021 | 09:50am
StockMarketWire.com - Gulf Investment Fund reported returns that topped its benchmark in the first half of the year as markets rebounded.
For the six months ended 31 December, net asset value increased by 22%, outperforming the benchmark increase of 17%. The company declared a final dividend of 3 cents a share to be paid on 5 March 2021. We expect oil prices will recover in 2021 on the back of economic recovery and that the regional narrative will change from austerity to growth with economic momentum growing, it added.
At 9:50am: [LON:GIF] Gulf Investment Fund Plc Ord Usd0.01 share price was 0p at 1.31p
22 January 2021 | 09:25am
StockMarketWire.com - Gulf Investment Fund reported that quarterly net asset value rose 7.5% in Q4, outperforming its benchmark.
Over the quarter net asset value rose 7.5% versus the S&P GCC Composite index, the fund s benchmark, which was up 5.9%.
For 2020, net asset value was up 7.8% versus benchmark index down 1.7%, so GIF outperformed its benchmark by 9.5%, the company said. Expansion of the North Field in Qatar will increase Qatar s hydrocarbon production by about 64 per cent in 4 to 5 years. The upcoming FIFA World Cup will generate opportunities for the region and specifically to Qatar, the company said. Forecasts indicate that upwards of 1.7 million people could visit Qatar during the tournament with approximately 500,000 visitors in the country on the busiest days. Socio-economic and capital market reforms in Saudi continues to throw up opportunities for long term investors.