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Gulf Investment Fund reported returns that topped its benchmark in the first half of the year as markets rebounded.
For the six months ended 31 December, net asset value increased by 22%, outperforming the benchmark increase of 17%.
The company declared a final dividend of 3 cents a share to be paid on 5 March 2021.
'We expect oil prices will recover in 2021 on the back of economic recovery and that the regional narrative will change from austerity to growth with economic momentum growing,' it added.
At 9:50am: (LON:GIF) Gulf Investment Fund Plc Ord Usd0.01 share price was 0p at 1.31p