LONDON (Alliance News) - Qatar Investment Fund PLC said Friday the Qatari market has remained "relatively resilient" to low oil prices as its net asset value rose in the third quarter to the end of September.
Qatar Investment Fund reported its net asset value per share rose by 5.7% in the three months to September 30, compared to the Qatar Exchange Index rising to 5.6% as a whole. The company said that at September 30 its share price was trading at a 13.9% discount to net asset value.
Shares in Qatar Investment Fund were untraded at USD1.05 Friday.
The fund noted that during the quarter the Qatar market was the best performer in the Gulf Cooperation Council region. The trust said this was fueled by earnings momentum and anticipation of the upgrade of Qatar to the FTSE Russell Secondary Emerging Market Index, the first phase of which happened in September, and should attract more passive fund investment.
By Adam Clark; adamclark@alliancenews.com
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