Bank Muscat Oryx Fund tops as best performing GCC fund

(MENAFN- Muscat Daily) Muscat- Bank Muscat Oryx Fund has once again topped as the best performing GCC fund, generating a return of 13.8 per cent in 2017 compared with a decline of 0.7 per cent for the benchmark S & P GCC Index.

Over the past five years period, the flagship fund of Bank Muscat has nearly doubled investors' money as against a market return of 10.9 per cent, according to a press release.

The Oryx Fund continues to build on its unparalleled track record of consistently being rated the best in class fund, outperforming local and regional funds by a wide margin. The fund's outstanding performance, growing more than three times over the past two years, has been appreciated by investors. With assets under management of US$81mn, the fund is now the second largest GCC fund.

Sulaiman al Yahyai, chairman of Oryx Fund, said, 'The performance of the fund is laudable in the backdrop of challenging capital markets. The Oryx Fund continues to focus on quality growth stocks.'

Abdullah al Hinai, general manager - wholesale banking at Bank Muscat, said, '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.'

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