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