Mon, Nov 18, 2019
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Gulf Investment Fund ends the quarter up 3.1%

Friday, July 19, 2019

Bailey McCann, Opalesque New York:

The Gulf Investment Fund (GIF) beat its benchmark in the second quarter, according to performance data reviewed by Opalesque. Overall performance was up 3.1%. The fund's net asset value (NAV) increased +4.1% vs. the benchmark S&P GCC Index of +1.0%. Year-to-date NAV is up +16.8%, a 7% outperformance vs. the benchmark.

Using a top-down approach, which capitalizes on macro trends, the $100 million Gulf Investment Fund identifies quoted equities in the Gulf Cooperation Council countries. The Gulf Cooperation Council comprises: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. GIF employs Epicure Managers Qatar Ltd (BVI), a wholly-owned subsidiary of Doha based Qatar Insurance Company (QIC) to oversee portfolio construction and to monitor investment limits.

GIF said in a performance note that institutional investors are putting more money to work in Middle Eastern listed equities following the inclusion of Saudi Arabia in emerging markets indexes. Barring any external shocks or a significant slowdown, the fund estimates that inflows to Saudi Arabia could top $40 billion. "Saudi government initiatives such as allowances for public sector employees and the continuation of the citizens account program to support low income families should help boost consumer spending," the fund said noting that fundamentals within the Saudi economy remain strong. GIF continues to be overweight Saudi Arabia going into the sec......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opinion: Cliff Asness: It's 'time to sin'[more]

    From Institutional Investor: Timing the market can be "deceptively difficult," as quantitative investor Cliff Asness has pointed out before. But now, the AQR Capital Management co-founder believes that while factor timing is "an ugly thing," it is "about time we did some" - specifically when it com

  2. Investing: Hedge fund Whitebox places big bet on gunmaker Remington, Quant funds exit Japanese bonds in worst sell-off since 2013[more]

    Hedge fund Whitebox places big bet on gunmaker Remington From Reuters: Whitebox Advisors LLC, a credit-focused hedge fund, has been quietly capitalizing on Wall Street's ambivalence toward gun manufacturers by replacing some banks as a lender to Remington Outdoor Company. Whitebox

  3. Tech: Investors race to tech start-ups despite SoftBank stumbles, Two Sigma launches risk management software[more]

    Investors race to tech start-ups despite SoftBank stumbles From FT: Investors are planning to pour billions more dollars into later stage tech start-ups, even as Japan's SoftBank reels from a succession of faltering bets. Stephen Schwarzman's Blackstone plans to raise between $3bn and $4b

  4. Regulatory: Carried interest tax rules slated for 2020, official says[more]

    From Bloomberg: The Treasury Department is planning to issue regulations restricting how hedge fund managers can claim a valuable tax break early next year, a top Treasury official said. The regulations will likely bar money managers from using S corporations to take advantage of an exemption

  5. HarbourVest raises $3bn for Co-Investment Fund V[more]

    Laxman Pai, Opalesque Asia: Boston-based HarbourVest Partners closed its latest private equity fund above the fundraising target - the $3 billion HarbourVest Partners Co-Investment Fund V was oversubscribed and above its $2.5 billion target. The fund's strategy is to create a global, diversif