In QuotedData’s morning briefing 25 February 2022:
- Gulf Investment Fund (GIF )has published its interim report for the six months ended 31 December 2021. During the period, GIF’s NAV rose 7.6%, versus an increase in its benchmark of 7.4%, and its share price rose 5.4%. GIF has declared a final dividend of 2.47c, to be paid on 11 March 2022, and its shares ended the period trading at 7.6% discount to NAV (versus a five year average discount 12%). Anderson Whamond, Chairman of GIF says that, during the six-month period, GCC markets benefited from rising hydrocarbon and oil prices.
- Murray Income (MUT) has announced its interim results for the six months ended 31 December 2021. During the period, MUT provided an NAV total return of 7.2%, ahead of the 6.5% provided by its benchmark. MUT’s share price total return was 7.5% with the discount closing the period at 6.7%, almost the same level at which it started. For the full calendar year 2021, the NAV total return was 18.4%, the Benchmark returned 18.3% and the share price total return was 14.1%. The portfolio’s overweight positions in the electricity and real estate sectors benefited performance. In contrast, the underweight position in oil and gas, and the overweight exposure to the medical equipment and services sector detracted from relative performance. The holdings in Safestore, VAT and Croda were the most beneficial to relative returns while the three non-holdings of Royal Dutch Shell, Glencore and Experian detracted the greatest, relatively.
- JPMorgan Russian Securities has announced that Tamara Sakovska will be standing down as a director with immediate effect. Gill Nott, the chairman, said: “We are sorry that Tamara Sakovska has decided to stand down as a director of the company. The board offer their thanks to Tamara for her contribution to the bompany during her tenure since 2016, and wish her all the very best success for the future.”
We also have Macau Property Opportunities management fee for 2022, Aquila European Renewables Income’s update on “The Rock”, GCP Co-Living REIT’s IPO pause, Alliance Trust’s annual results (it expect to extend its run of 55 consecutive years of dividend increases), and annual results from Mobius.