LONDON (Alliance News) - Qatar Investment Fund PLC Tuesday said its net asset value per share rose by 21.6% to USD1.41 in the year ended June 30, outperforming its benchmark.
Growth in the company's NAV per share compares with a rise of 23.9% the Qatari stockmarket and a rise of 11.7% in the MSCI Emerging Markets Index.
The closed-end investment company invests primarily in quoted equities of Qatar and other Gulf Co-operation Council countries.
"Shareholders again enjoyed a very good return during the year. The share price rose 25.9% in the year, from USD1.020 to USD1.285. Including the 3.2 cent dividend, the total shareholder return was 29.1%, compared to 19.3% last year," said Chairman Nick Wilson in a statement.
The company said near to long-term growth prospects should remain healthy, driven by a strong infrastructure development pipeline, increased government spending and a growing population.
"Combined with Qatar's upgrade into the MSCI Emerging Markets index this year, the company is well positioned to gain from the growth behind Qatar's vigorous economy," said Wilson.
Shares in the company were trading 0.9% higher at USD1.41 per share.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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