MUSCAT, 16 April 2018
Bank Muscat Oryx Fund has won the prestigious 2018 MENA Fund Manager award for the Best GCC Equity Fund. The fund was rated as the best performing fund in the MENA region amidst all equity funds. Achieving the highest returns in the entire region, this is the sixth time Oryx Fund is winning the prestigious award in the last eight years.
The Oryx Fund continues to be the best in class fund, outperforming local and regional funds by a wide margin. The fund has generated a return of 20.1% in the last 12-month period as against a return of 3.1% for the benchmark S&P GCC Index. Over the past 5-year period, the fund has nearly doubled investor money as against a market return of 5.2%.
Reckoned the benchmark for the regional fund industry, the MENA Fund Manager awards endorse funds that excel in delivering consistent, strong risk-adjusted performance. The awards showcase fund managers' investment expertise and recognise funds with outstanding track records.
Commenting on the achievement, Sulaiman Al Yahya, Chairman of Oryx Fund, said: “The MENA Fund Manager award is a credible and objective recognition of the outstanding performance, which places Oryx Fund in a league of its own. Time and again, the performance of the fund has been lauded by the global fund ranking entities such as MENA Fund Manager, Lipper Thomson Reuters and Emerging Market Finance. Yet another endorsement from the MENA Fund Manager reflects the consistency of the performance of Oryx Fund and the innovative strategies which have cemented its reputation in a tough market."
Abdullah Al Hinai, General Manager - Wholesale Banking, said: "We thank all our investors for their continued 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 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."