Bank Muscat Oryx Fund tops as best performing GCC fund

05/02/2018 06:04 AST

Bank Muscat Oryx Fund has once again topped as the best performing GCC fund, generating a return of 13.8 per cent in 2017 compared to a decline of 0.7 per cent for the benchmark S&P GCC Index. Over the past 5 year period, the leading fund of Bank Muscat has nearly doubled investor money as against a market return of 10.9 per cent.

The Oryx Fund continues to build on its unparalleled track record of consistently being rated the best in class fund, outperforming local and regional funds by a wide margin. The fund's outstanding performance, growing more than three times over the past two years, has been appreciated by investors. With assets under management of $81 million, the fund is now the second largest GCC fund.

“The performance of the fund is laudable in the backdrop of challenging capital markets. The Oryx Fund continues to focus on quality growth stocks and I compliment the Private Equity and Asset Management team at Bank Muscat for delivering on investor expectations,” said Sulaiman Al Yahyai, Chairman of Oryx Fund.

Established in 1994, the overall investment process of the Oryx Fund is driven by an experienced investment team with an average experience of 14 years of investing in regional markets. The fund also has the longest history of distributing dividends every year.

"We thank all our investors for their support and commitment for the fund. The Oryx Fund represents a very attractive investment proposition for long term investors. The fund’s strategy has been proven over various market cycles. We believe that investors will continue to generate attractive returns by investing in the GCC stock markets through Oryx Fund. We thank the Capital Markets Authority (CMA) for their support and remain committed to developing the Omani capital markets and look forward to making Oryx Fund the largest fund in the GCC," added Abdullah Al Hinai, General Manager - Wholesale Banking.

Times of Oman