Muscat: Bank Muscat Oryx Fund, managed by the Asset Management division of Bank Muscat, has decided to widen the objective of the fund to invest in companies listed in the Mena region, whereas in the past investment was limited to the Gulf Cooperation Council (GCC) countries only.
The decision was taken at the extraordinary general meeting (EGM) of the unit holders of the Bank Muscat Oryx Fund on July 15.
Saif Ali Sheikhan Al Amri, chairman of the Bank Muscat Oryx Fund, said: "The Bank Muscat Oryx Fund is an award winning investment vehicle, the investments of which were exclusively focused in securities listed on the GCC markets. By expanding the investments to the Mena region, the fund will be able to generate better returns for investors. The Bank Muscat Oryx Fund generated a return of 47.9 per cent in 2013 and 31 per cent as of July 15, 2014."
In another related development, all members of the Bank Muscat Oryx Fund management body were re-elected at the annual general meeting held on June 17. In 2013, the Bank Muscat Asset Management division delivered outstanding returns on all funds and portfolios managed by it and continues to do so in 2014.
Managing funds and portfolios since 1993 and with assets worth $1.5 billion under management (AUM), Bank Muscat Asset Management is the biggest wealth manager in Oman as well as a leading player in the region.
This dominant position endorses the performance of various funds under the mandate of Bank Muscat Asset Management and also the proven ability of the fund managers in challenging situations.
The Asset Management division continues to expand its activities in equities, fixed income, real estate, and alternate investments.