MUSCAT, 27 September 2016 - Bank Muscat Oryx Fund managed by the Private Equity and Asset Management division of Bank Muscat, the biggest fund manager in Oman as well as a leading player in the region, has once again won the prestigious 2016 Thomson Reuters Lipper Fund Award for the 'Best MENA Fund' based on its last 3-year performance. Oryx Fund was rated as the best fund in the region among 11 funds following a similar investment strategy. The award comes for the second consecutive year and the third time overall for Oryx Fund.
Lipper Fund Awards are the ultimate recognition for the global fund industry. They highlight funds that excel in delivering consistent, strong risk-adjusted performance. The awards showcase fund managers' investment expertise and recognise funds with outstanding track records. For more than three decades, these awards have honoured funds and fund management firms that have excelled in providing consistently strong risk-adjusted performance relative to their peers.
Abdullah Al Hinai, GM – Wholesale Banking, said: “Bank Muscat Oryx Fund is delighted to receive yet another endorsement from the prestigious Lipper Fund when the market conditions remain a big challenge for fund managers. The consistent endorsement of Oryx Fund as the best fund in the MENA region places it in a league of its own. The attractive performance of the fund is built upon a disciplined, yet dynamic, long-term approach to value-oriented investing in the regional markets that enables the fund manager to look beyond short-term gains. The bank constantly endeavours to offer the highest quality of service backed by professionals with proven investment management skills."
Oryx Fund has an unparalleled track record in the region. The fund generated an annualized return of 12.5 per cent as against the decline of 2% in the S&P Pan Arab Large Cap Index for the 5 year period. The fund continues to be the best performing fund in the MENA region with outperformance of more than 2 times against the peer group funds in its category.
The overall investment process is driven by an experienced investment team with an average experience of 13 years of investing in regional markets. A collaborative team culture that leverages the experience of the entire team prevails at Bank Muscat to produce profound investment insights. The qualitative and quantitative metrics assessed during stock selection include the quality of the management, reasonable valuations, healthy operational growth prospects, solid and consistent profit margins and handsome dividend yields.
Bank Muscat is the largest asset manager in Oman with the Private Equity and Asset Management division managing over $2.1 billion worth of assets. The paramount AUM position enjoyed by Bank Muscat Private Equity and Asset Management division reaffirms the bank as a safe and reliable partner for financial investment advice.