Muscat March 11 : The annual general meeting (AGM) of the unitholders of Oryx Fund approved a cash dividend of 50 baisa per unit for the financial year 2008. The AGM approved the chairman’s statement; investment manager’s statement; auditor’s report, audited balance sheet and statement of income for the year ended 31 December 2008, besides related party transactions and appointed statutory auditors for the financial year ending 31 December 2009.

Oryx Fund, rated AA, is one of the two mutual funds in Oman to be rated by Standard & Poor’s. Both the mutual funds rated by S & P are managed by the Asset Management Division of BankMuscat.

The Oryx Fund was launched in July 1994 and is regulated by the Capital Market Authority. The main objective of the open-ended fund is to achieve long-term capital appreciation through a diversified portfolio, principally of equity and equity-related investments in companies listed on the Gulf Co-operation Council (GCC) stock markets (Oman, the UAE, Kuwait, Saudi Arabia, Bahrain, Qatar). The fund has consistently outperformed its benchmark. The fund offers daily subscription and redemption..

BankMuscat Asset Management is one of the largest fund managers in the region, enjoying a dominant position in Oman. BankMuscat Asset Management offers a variety of funds investing in Oman, GCC countries and India. In addition, the Asset Management Division also manages structured products, hedge funds, private equity funds and a real estate fund investing in Oman. The division offers discretionary portfolio management service to suit varied clients, including pension funds, global funds, high net worth individuals, corporations and other entities.