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Gulf Investment Fund PLC - Isle of Man-based investment fund focusing on Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Kuwait and Oman - Net asset value on December 31 is down 3.8% from third quarter of 2022, while its comparator benchmark S&P GCC Index is down 6.1%. Says NAV increased across by 8.4% in 2022, while benchmark falls down 4.8%. Says outlook is positive, says it is supported by stable oil price, solid fiscal positions and a regional economy ‘largely shielded’ from recession in Europe and the US. Gulf Investment Fund adds: ‘While global investors generally are underweight Qatar, Kuwait, and Saudi, the weighting of the Gulf Cooperation Council in emerging markets indexes is expected to increase as more initial public offering are listed, governments sell stakes, and foreign ownership limits increase.’
Current stock price: $1.86, down 0.8% on Monday afternoon.
12-month change: up 6.3%
By Greg Rosenvinge, Alliance News reporter
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