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.
We have written some notes that seek to explain the workings of the fund:
In good hands was published on 23 January 2024
On the gulf of a new economy, was published on 18 April 2023
Much more than just oil and gas, was our initiation note published on 18 August 2022
The fund’s website can be found here.
Fundamentals
Price
Research History
-
27 Sep 2024
Gulf Investment Fund - Please don’t go
Please don’t go Following its recent tender offer, Gulf Investment Fund’s (GIF) future is at risk as the board is proposing a windup of the trust. We believe a strategy as successful and distinctive as GIF’s merits continuation. Details of the proposed windup measures and our opinions can be read on page 3. The GCC […]
-
27 Sep 2024
Gulf Investment Fund - Please don’t go
Please don’t go Following its recent tender offer, Gulf Investment Fund’s (GIF) future is at risk as the board is proposing a windup of the fund (a sale of the trust’s assets with the proceeds returned to shareholders after the costs of liquidating the fund have been deducted). We believe a strategy as successful and […]
-
27 Sep 2024
Gulf Investment Fund - Please don’t go
Please don’t go Following its recent tender offer, Gulf Investment Fund’s (GIF) future is at risk as the board is proposing a windup of the trust. GIF has outperformed its peers and global indices over the longer-term and offers exposure that can be difficult for some investors, particularly smaller ones, to access. Because of this, […]
-
23 Jan 2024
Gulf Investment Fund - In good hands
Gulf Investment Fund Investment companies | Annual overview | 23 January 2024 In good hands In terms of both its alpha generation and NAV returns, Gulf Investment Fund (GIF) has been one of the best-performing strategies focusing on the Gulf region. The management team has recently increased exposure to the healthcare sector, which it believes […]
-
23 Jan 2024
Gulf Investment Fund - In good hands
Gulf Investment Fund Investment companies | Annual overview | 23 January 2024 In good hands Gulf Investment Fund (GIF) has demonstrated an ability to be one of the best-performing strategies focusing on the Gulf region, as illustrated by its net asset value (NAV) outperformance and its ability to generate sector-leading alpha (a measurement of manager […]
-
23 Jan 2024
Gulf Investment Fund - In good hands
Gulf Investment Fund Investment companies | Annual overview | 23 January 2024 In good hands Gulf Investment Fund (GIF) has demonstrated an ability to be one of the best-performing strategies focusing on the Gulf region, as illustrated by its ability to generate sector-leading alpha. The team has recently expanded into the healthcare sector, which has […]
-
13 Oct 2023
QuotedData’s Investment Companies Roundup – October 2023
October 2023 Monthly roundup | Investment companies Kindly sponsored by abrdn Winners and losers in September 2023 September was defined by the ongoing US bond selloff, with global markets trending down in sympathy. Investment trust returns were negative on average for the month, although several sectors still achieved positive returns. The Royalties sector was the […]
-
17 Apr 2023
Gulf Investment Fund - On the gulf of a new economy
Gulf Investment Fund Investment companies | Update | 17 April 2023 On the gulf of a new economy The team behind the Gulf Investment Fund (GIF) has more than proven its worth as an active manager, having negotiated the turbulent markets of 2022 to deliver truly impressive outperformance of both GIF’s peers and its benchmark. […]
-
17 Apr 2023
Gulf Investment Fund - On the gulf of a new economy
Gulf Investment Fund Investment companies | Update | 17 April 2023 On the gulf of a new economy The team behind the Gulf Investment Fund (GIF) has more than proven its worth as an active manager, having negotiated the turbulent markets of 2022 to deliver truly impressive outperformance of both GIF’s peers and its benchmark. […]
-
17 Apr 2023
Gulf Investment Fund - On the gulf of a new economy
Gulf Investment Fund Investment companies | Update | 17 April 2023 On the gulf of a new economy The team behind the Gulf Investment Fund (GIF) has negotiated the turbulent markets of 2022 to deliver significant outperformance of both GIF’s peers and its benchmark. In particular, in recent trading activity, it has eschewed some of […]
-
09 Mar 2023
QuotedData's Economic and Political Monthly Roundup March 2023
Economic and Political Monthly Roundup Investment companies | Monthly | March 2023 A collation of recent insights on markets and economies taken from the comments made by chairs 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 […]
-
05 Jan 2023
QuotedData’s Investment Companies Roundup – January 2023
December 2022 Monthly roundup | Investment companies Winners and losers in December 2022 The Financials sector only has two constituents, one of these – Trian Investors 1 – has seen its discount narrow since it promised to return cash to investors by next June, and it has also benefited from underlying NAV appreciation. Last month’s […]
-
07 Dec 2022
QuotedData’s Investment Companies Roundup – December 2022
Investment Companies Monthly Roundup Kindly sponsored by abrdn December 2022 Monthly | Investment companies Winners and losers in November 2022 As discussed in this month’s economic and political roundup, lower US inflation triggered a fall in the US dollar and drove equity markets higher over November. The big surprise was the resurgence of Chinese markets […]
-
13 Oct 2022
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2022
Third quarter of 2022 Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Piling on the misery In the face of rising inflation, exacerbated by the war in Ukraine, central bankers have condemned for their relative inaction. However, in the third quarter of 2022, they stepped up a gear. Last month’s economic and political roundup […]
-
06 Oct 2022
QuotedData's Economic and Political Monthly Roundup October 2022
Economic and Political Monthly Roundup Investment companies | Monthly | October 2022 A collation of recent insights on markets and economies taken from the comments made by chairs 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 […]
-
18 Aug 2022
Gulf Investment Fund - Much more than just oil & gas
Much more than just oil & gas Gulf Investment Fund (GIF) has built up an attractive track record of both absolute performance and outperformance of its benchmark. Recent higher energy prices have bolstered sentiment toward the region. Governments are using the revenue windfall to fund vast infrastructure projects aimed at diversifying their economies. We think […]
-
18 Aug 2022
Gulf Investment Fund - Much more than just oil & gas
Much more than just oil & gas Gulf Investment Fund (GIF) has built up an attractive track record of both absolute performance and outperformance of its benchmark. Recent higher energy prices appear to have bolstered sentiment toward the region. Governments are using the revenue windfall to fund vast infrastructure projects aimed at diversifying their economies. […]
-
18 Aug 2022
Gulf Investment Fund - Much more than just oil & gas
Much more than just oil & gas Gulf Investment Fund (GIF) has built up an attractive track record of both absolute performance and outperformance of its index benchmark. For example, as we show on page 18, GIF outperforms competing open-ended funds over most time periods. Recent higher energy prices have bolstered sentiment toward the countries […]
-
09 Oct 2020
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 – […]
-
10 Mar 2020
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 […]
-
07 Oct 2019
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 […]
-
07 Aug 2019
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 […]
-
22 Mar 2019
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 […]
-
13 Nov 2018
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 […]
-
12 Oct 2018
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 […]
-
13 Mar 2018
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 […]
-
13 Mar 2018
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 […]
-
18 Jan 2018
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 […]
-
10 Nov 2017
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 […]
-
12 Oct 2017
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 […]
-
14 Sep 2017
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 […]
-
03 Aug 2017
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 […]
-
12 Jul 2017
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 […]
-
15 Mar 2017
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 […]
-
27 Oct 2016
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
-
13 Oct 2016
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
-
25 Sep 2018
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 […]
-
10 Nov 2017
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 […]
-
16 Oct 2017
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 […]
-
07 Sep 2017
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 […]
-
23 Sep 2016
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 […]
-
12 Sep 2016
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 […]
-
01 Mar 2016
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 […]
-
15 Oct 2015
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 […]
-
14 Sep 2015
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 […]
-
13 Apr 2015
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 […]
-
24 Feb 2015
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 […]
-
21 Feb 2014
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%
-
23 Jan 2014
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%.