Overview
Gulf Investment Fund : GIF, formerly Qatar Investment Fund QIF, aims to capture the opportunities for growth offered by the expanding GCC (Gulf Co-operation Council) economies by investing in listed companies on one of the GCC exchanges or companies soon to be listed on one of the GCC exchanges. The company may also invest in listed companies, or pre-IPO companies, in other GCC countries. The company applies a top-down screening process to identify those sectors which should most benefit from sectoral growth trends. Fundamental industry and company analysis, rather than benchmarking, forms the basis of both stock selection and portfolio construction.
The company’s primary investment objective is to achieve capital growth. However, the company has instituted an annual dividend policy to return to shareholders distributions at least equal to reported income for each reporting period. Shareholders should note that this cannot be guaranteed and the level of distributions for any period remains a matter to be determined at the discretion of the board.
The GCC comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
The fund’s website can be found here.
Research History
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09 Oct 2020 9 min read
QuotedData’s Investment Companies Roundup – October 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research Performance data Discounts and premiums Money in and out Major news stories Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over September: Standard Life Investments Property Income Trust – […]
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10 Mar 2020 9 min read
QuotedData’s Economic Roundup – March 2020
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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07 Oct 2019 8 min read
QuotedData’s economic roundup – October 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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07 Aug 2019 4 min read
QuotedData’s investment companies roundup – August 2019
Investment Companies Roundup New research Over July, we published notes on CQS New City High Yield, BlackRock Throgmorton, Strategic Equity Capital, Seneca Global Income & Growth, CG Asset Management, Standard Life Investments Property Income and Aberdeen New Dawn. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – appetite […]
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22 Mar 2019 2 min read
QuotedData’s economic roundup – March 2019
QuotedData’s economic roundup – March 2019 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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13 Nov 2018 1 min read
QuotedData’s investment companies roundup – November 2018
QuotedData’s investment companies roundup – November 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2018. Kindly sponsored by Baillie Gifford. Winners and losers in October In what was generally a miserable month for equity markets, Brazil shone […]
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12 Oct 2018 2 min read
QuotedData’s Economic round up – October 2018
QuotedData’s Economic round up – October 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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13 Mar 2018 2 min read
QuotedData’s Economic round up – March 2018
QuotedData’s economic round up – March 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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2 min read
QuotedData’s investment companies roundup – March 2018
QuotedData investment companies roundup – March 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2018. Kindly sponsored by Baillie Gifford. Equity markets continued to run up in early February, supported by strong corporate earnings […]
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18 Jan 2018 2 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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10 Nov 2017 2 min read
QuotedData investment companies roundup – November 2017
QuotedData investment companies roundup – November 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2017. Kindly sponsored by Baillie Gifford. November Investment Companies Roundup Globalworth Real Estate’s discount was eliminated after it announced […]
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12 Oct 2017 2 min read
QuotedData’s economic round up – October 2017
QuotedData’s economic round up – October 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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14 Sep 2017 2 min read
QuotedData investment companies roundup – September 2017
QuotedData investment companies roundup – September 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2017. Kindly sponsored by Baillie Gifford. September Investment Companies Roundup Winners and losers in August Ashmore Global’s […]
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03 Aug 2017 2 min read
QuotedData investment companies roundup – August 2017
QuotedData investment companies roundup – August 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of July 2017. Kindly sponsored by Baillie Gifford. August Investment Companies Roundup Monthly NAV/Price moves: A couple of themes stand out […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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15 Mar 2017 1 min read
QuotedData’s round up of views on the global economy – March 2017
A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored […]
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27 Oct 2016 1 min read
Quarterly investment companies roundup – Third quarter 2016
Q3 saw the market adapt to life post the UK’s EU referendum. Sterling continued to fall but most stock markets stabilised and discounts narrowed across most sectors. While the US election is dominating headlines, it does not seem to be having much impact on markets so far. q3-quarterly-roundup
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13 Oct 2016 1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
News
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15 Dec 2020 2 min read
Gulf Investments survives tender offer
Gulf Investments survives tender offer – 40,643,418 shares were tendered, equal to 43.96% of the shares in issue. The post tender offer share capital will therefore be 51,817,824 shares, above the minimum size condition set out in the tender offer circular to shareholders. The directors will allocate the assets and liabilities of the company between a […]
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28 Sep 2020 6 min read
Gulf Investment Fund sees regional recovery gaining a foothold
Over Gulf Investment Fund’s (GIF) full-year results (to 30 June 2020) saw the NAV decline by (8.7%) in total return terms. This compares with a (17.2%) decline in the benchmark. The shares fared slightly better, declining by (5.4%). At the year-end, GIF’s shares were trading at a discount of (7.5%) of NAV, which was ahead […]
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26 Feb 2020 3 min read
Gulf Investment Fund discusses outlook following excellent year for Bahrain and Kuwait bourses
Gulf Investment Fund (GIF) has delivered a total NAV return of +3.4% over its six-month interim period to end-December 2019, compared with a fall of 1.4% in the S&P GCC Composite Index. The MSCI Emerging Markets Index rose by 5.7% in the same period. The shares rose by 5.0%. Global equity markets ended 2019 near record highs. […]
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05 Nov 2019 1 min read
QuotedData’s other news 5 November
In QuotedData’s other news 5 November – Gulf Investment Fund (GIF) has renewed its investment management agreement with its investment manager, Epicure Managers Qatar Limited, a wholly owned subsidiary of Qatar Insurance Company S.A.Q., for a three-year period effective from 1 November 2019. We also have interim results from Warehouse REIT
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22 Oct 2019 4 min read
Gulf Investment Fund outperforms on lower Saudi exposure
Gulf Investment Fund outperforms on lower Saudi exposure – Gulf Investment Fund (GIF) has released a report covering its third quarter period to 30 September 2019. The NAV was up 1%, compared to a 5.5% decline in the benchmark S&P GCC Index. Year-to-date, GIF’s NAV is up 17.9% (benchmark is up 3.7%). The funds outperformance during […]
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18 Sep 2019 1 min read
QuotedData’s other news 18 September 2019
In QuotedData’s other news 18 September 2019 – Standard Life Investments Property Income Trust (SLI) has announced its interim results for the six months ended 30 June 2019. During the period, SLI’s NAV total return was 2.7% for the period ended 30 June 2019, which was generated by like for like portfolio growth combined with profits […]
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14 min read
Gulf Investment Fund outperforms
Gulf Investment Fund (GIF) has announced its annual results for the year ended 30 June 2019. During the year, GIF’s NAV per share rose by 12.7% to US$1.3504 which compares with a gain of 8.2% in the S&P GCC composite index and a fall of -1.40% in the MSCI Emerging Markets Index. Following a narrowing […]
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25 Sep 2018 3 min read
Gulf Investment Fund’s new strategy is in place
Gulf Investment Fund’s new strategy is in place – During the 12 months period to 30 June 2018, Gulf Investment Fund (GIF)‘s NAV per share rose by 7.8%. The S&P GCC composite index and the MSCI Emerging Markets index returned 8.6% and 5.8% respectively. Following a narrowing of the discount to NAV, the shares rose by 13.0%. The report goes into […]
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10 Nov 2017 2 min read
Qatar Investment Fund announces details of 10% tender offer
Qatar Investment Fund (QIF) has announced a tender offer to purchase up to 10% of its issued share capital. This follows QIF’s announcement on 16 October that it intends to change its investment policy to become a Gulf Investment Fund, in which the board announced that it would put proposals for a tender offer. Tender […]
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16 Oct 2017 2 min read
Qatar fund to become Gulf Investment Fund
Qatar fund to become Gulf Investment Fund – Qatar Investment Fund intends to change its investment policy from a largely Qatar-focused investment strategy to a broader Gulf Cooperation Council (“GCC”) investment strategy. Currently, the investment policy enables it to invest up to 15% in GCC countries (namely Saudi Arabia, Kuwait, UAE, Oman and Bahrain) other than Qatar. The proposed […]
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07 Sep 2017 2 min read
Qatar Investment Fund – trade and travel ban hindered growth
Qatar Investment Fund – trade and travel ban hindered growth – in its results statement for the year ended 30 June 2017, Qatar Investment Fund’s chairman, Nicholas Wilson, said “The year to 30 June 2017 was one of mixed fortunes for Qatar. During the period, the country adjusted well to the realisation that oil prices […]
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23 Sep 2016 1 min read
Qatar Investment Fund cuts fees
Qatar Investment Fund last rejigged its fee arrangements on 1 November 2013. The new arrangement was put in place for three years. The terms were a reduced management fee of 1.05% per annum of the net asset value, calculated monthly and payable quarterly in arrears, with such management fee reducing further to 1.0% from 1 […]
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12 Sep 2016 1 min read
Oil price falls impact Qatar Investment Fund
According to its Chairman’s statement, over the year that ended on 30 June 2016, Qatar Investment Fund’s share price fell 18.2% compared to the Qatar Exchange which fell 18.9% and a fall of 14.21% in the MSCI Emerging Markets Index. It says the net asset value of the fund fell 20.8%, underperforming the benchmark. The Board […]
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01 Mar 2016 1 min read
Qatar Investment Fund underperforms in weak H2 2015
Qatar Investment Fund results for the six months ended 31 December 2015 show its net asset value per share fell 16.3% while the Qatar Exchange Index fell 14.5% and MSCI Emerging Markets Index fell 18.6% over the same period. Following a narrowing of the discount, the QIF share price fell 11.1%. They paid a 4 cent dividend […]
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15 Oct 2015 1 min read
Qatar Investment Fund proposes 14% tender offer
The Qatar Investment Fund has announced a proposed tender offer to purchase up to 14% of the company’s issued share capital. The tender price will be a 1% discount to the Formula Asset Value on the 2 December 2015 with the results of the tender offer announced on 7 December 2015. The board says that […]
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14 Sep 2015 1 min read
Qatar Investment Fund outperforms as discontinuation vote looms
Qatar Investment Fund has announced its results for the year ended 30 June 2015. The fund’s net asset value rose by 8.4% compared to 6.2% for the Qatar Exchange and a rise of 4.6% in the MSCI Emerging Markets Index. Shareholders received a 3.5c per share dividend in January and the Board proposes to pay an increased […]
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13 Apr 2015 1 min read
Qatar Investment Fund discontinuation vote proposals
Qatar Investment Fund has a discontinuation vote scheduled this year. The Board is thinking about conducting a tender offer at a 1% discount to net asset value (less associated expenses) for 10% to 15% of the fund. They are working this out on a sliding scale whereby if the fund trades at an average discount […]
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24 Feb 2015 1 min read
Qatar Investment Fund outperforms
Qatar Investment Fund reported NAV growth of 8.6% for the second half of 2014, compared to a 6.9% increase in the Qatar Exchange Index. They paid a dividend of 3.5 cents per share. the discount widened to 12.1% meaning that the return to shareholders was 5.1%. The Qatar Exchange was the only one in the […]
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21 Feb 2014 1 min read
Qatar Investment Fund : QIF – interims
Over the six months ended 31 December 2013 Qatar Investment Fund’s net asset value rose by 7.2%, underperforming the Qatar Exchange Index which rose by 11.9%
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23 Jan 2014 1 min read
Qatar Investment Fund : QIF – Q4 report
Qatar Investment Fund has released its Q4 2013 report (not its annual results). Over 2013 the NAV rose by 25.5%, just behind the Qatar Exchange Index which rose by 26.2%.
Upcoming Events
In The Press
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02 Jun 2020 2 min read
Investment trust insider on emerging markets
Investment trust insider on emerging markets – James Carthew: there’s value in emerging markets as investors rush to take cover In uncertain times, it makes sense that investors turn to sectors with defensive earnings, such as utilities and infrastructure. Ecofin Global Utilities and Infrastructure (EGL), which I hold, is trading at asset value and issuing shares. […]
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09 Jan 2019 1 min read
Investment Trust Insider on 2018
Investment Trust Insider on 2018 – Lindsell Train leads best and worst investment trusts of 2018 (NB the headlines are devised by Citywire!!) 2018 is attracting headlines as the worst year for markets since 2008. However, for the investment trust industry, there was much to celebrate. This was certainly the case for the new issue market […]
