Muscat:
Bank Muscat, the leading financial services provider in the Sultanate of Oman, announced that the fund management body of Bank Muscat Oryx Fund has proposed a dividend distribution of 74 baisas per unit to be paid to the unitholders for FY 2024, subject to requisite approvals from the unitholders and other competent authorities. Accordingly, the Fund has maintained its track record of consistently growing dividend distributions despite a challenging market environment.
In addition to the regular income distributions through dividends, the Fund has also been rewarding its investors with attractive capital appreciation since its inception in 1994.
Bank Muscat Oryx Fund continues to reward its investors with its stellar performance with an average return of 13.4% per annum to investors over the last 5 years which translates into an aggregate return of 87.5% over this period. For example, an amount of RO 10,000 invested in Oryx Fund has grown to approximately RO 18,750 over the last 5 years, consisting of original investment of RO 10,000 and investment gain (returns) of RO 8,750. The return delivered by Oryx Fund over the last 5 years is significantly higher than average returns offered by alternatives over the same period like the MSX 30 Index 2.8% per annum, S&P GCC Index 5.4% per annum, MSCI Emerging Markets index negative 0.7% per annum. As such, Oryx Fund clearly stands out as an attractive investment choice for prospective investors with a medium to long term view. Furthermore, Bank Muscat Oryx Fund has delivered a positive performance of 4.4 per cent for the one year ended December 31, 2024, against a return of 2.2 per cent in its benchmark i.e. S&P GCC index.
Bank Muscat Oryx Fund has won several accolades for generating wealth for its investors and for significant outperformance compared to peers. It has been top-rated by various renowned global fund reviewers such as Lipper, Mena Fund Manager and Emerging Market Finance.
Oryx Fund represents an attractive investment proposition for medium to long-term investors. The fund’s strategy to follow a bottom-up approach focused on selection of quality stocks has been proven over various market cycles and time periods. The fund management team’s insights in the GCC region, quality of research across industries and sectors and knowledge of investee companies’ performance and future direction are the key factors that have enabled the fund to provide consistent and stable long-term returns to the investors.
An open-ended fund regulated by the Financial Services Authority, Oman, Oryx Fund offers daily liquidity, providing flexibility to invest or redeem on any business day. Investors can subscribe to the fund with a minimum subscription amount as low as OMR50. Investors may also choose to invest every month by subscribing to Systematic Investment Plan (SIP) option. The fund’s NAV is published daily on Bank Muscat website and Muscat Stock Exchange website so that investors can track the value of their investments daily. Interested investors may contact the fund’s Investor Servicing Desk through email at assetmanagement@bankmuscat.com to understand the process to subscribe to the fund.
Bank Muscat also enabled subscriptions and redemptions of its mutual funds through its Internet and Mobile banking platforms for retail customers. This has eased the process of investment into Bank Muscat’s mutual funds for eligible investors as they are now able to complete the entire process of investing through online channels, making fresh investments and redeeming existing investments without the need to visit any branch or submit any documents or paper applications. Corporates and government institutions may approach their account relationship managers.
Bank Muscat’s Asset Management business has a proven track record of successful operations for almost 30 years and is the largest asset manager in Oman and one of the leading asset managers in the GCC region, with approximately $3.6 billion of AUM. It offers tailored investment solutions across asset classes including equity, fixed income and real estate investments.
