MUSCAT, 18 February 2015 – Bank Muscat, the flagship financial services provider in the Sultanate, has won the 'Best 2014 GCC Equity Fund Under $30 million' award by MENA Fund Manager for Bank Muscat Oryx Fund. The award recognises the Bank Muscat Oryx Fund's exceptional performance in 2014, outperforming the peer group and demonstrating adaptability in the face of new demands and regulations.
Bank Muscat Oryx Fund generated a return of 25.92 per cent in 2014 and continues to be the best performing fund in its category in the GCC region. The fund invests in companies listed in the MENA region.
Abdullah Al Hinai, DGM – Investment Banking & FIG, said: “Bank Muscat Asset Management manages diverse funds and portfolios ranging in size that cater to a diverse clientele. With US$1.8 billion assets under management (AUM), Bank Muscat Asset Management is the biggest fund manager in Oman as well as a leading player in the region. The dominant position endorses the performance of the funds under the mandate of Bank Muscat Asset Management and also the proven ability of the fund managers in challenging situations. Time and again, the performance of Bank Muscat Asset Management has been lauded by the global banking community and we are delighted to receive yet another endorsement from MENA Fund Manager reflecting the consistency of the performance of Oryx Fund and the innovative strategies which have cemented its reputation in a tough market."
Bank Muscat offers a variety of funds investing in Oman, MENA region and India. With US$1.8 billion assets under management (AUM), the bank offers discretionary portfolio management service to suit varied clients, including pension funds, global funds, high net worth individuals, corporations and other entities. Attributes that distinguish Bank Muscat Asset Management include an experienced team, research-based decision making process, financial strength, reputation of the organization, strong systems and process.
The Bank Muscat Asset Management division recorded an outstanding performance in 2014, winning the "Best Asset Manager" award by Emea Finance, the "Asset Manager of the Year" award by Global Finance and the "Most Innovative Investment Management Company" in Oman award by International Finance Magazine.