Gulf Investment Fund PLC - the closed-ended investment company - Says net asset value rose 12.4% in the three months to the end of June, while the fund's benchmark, the S&P GCC index, was up 11.7%. On June 30, the company's share price was trading at a 7.5% discount to NAV. During the quarter the fund's exposure to Saudi Arabia increased by 9.9%, while exposure to Kuwait was reduced by 3.3%. Looking forward, the company said its investment adviser believes that the recovery is now gaining a foothold and will extend into the second half of 2020.
