MUSCAT – Oryx Fund managed by the Asset Management Division of BankMuscat has won the prestigious Lipper Fund Award 2009 for the Best Fund in GCC (3 years).  Out of the 20 GCC funds, Oryx Fund was the only fund to receive a Lipper Award for 2009. Lipper Fund Awards, the ultimate recognition for the global fund industry, highlight funds that excel in delivering consistent strong risk-adjusted performance when compared to peers. The awards showcase fund managers’ investment expertise and recognise funds with outstanding track records. Lipper, a wholly-owned subsidiary of Reuters, is the world's leading fund research and analysis organisation.

Ali Said Ali, AGM – Asset Management Division and Private Banking, received the Lipper Award at a ceremony held in Bahrain, attended by senior representatives of banking and financial institutions from the region.

“Lipper's credible and objective recognition of outstanding fund performance places Oryx Fund in a league of its own. Oryx Fund, rated AA, is one of the two mutual funds, both belonging to BankMuscat, rated by Standard & Poor’s,” Ali Said Ali said.

The Lipper Fund Awards are awarded to funds in 21 countries in Asia, Europe, MENA, and the Americas. Lipper designates award-winning funds in most individual classifications for three, five, and ten-year periods. In addition, the Lipper Fund Awards spotlight fund families with high average scores for all funds within a particular asset class or overall.

Oryx Fund, launched in 1994, 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 is open ended and offers daily subscription and redemption.

BankMuscat Asset Management is one of the largest fund managers in the region. 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.