(MENAFN- Nam News Network)
MUSCAT, Aug 3 (NNN-ONA) – The assets of Oman's sovereign wealth fund, the Oman Investment Authority (OIA), reached 17.9 billion Omani rials (about 46.5 billion U.S. dollars) last year, the fund said in its annual report, yesterday.
The OIA's return on investment in 2022 was 8.8 percent, said the report, adding that, the fund contributed 5.6 billion rials between 2016 and 2022, to the state's general budget.
The OIA manages its assets and investments through two portfolios, the National Development Portfolio and the Future Generations Fund, which account for 60 percent and 40 percent of the total assets, respectively.
The Future Generations Fund encompasses OIA's international investments, and mainly targets generating sustainable financial returns through long-term investments.
The National Development Portfolio includes OIA's national assets, and aims to contribute to the growth of the national economy and support the state's general budget.
About 61.5 percent of the OIA's assets were allocated within Oman, the rest is distributed to over 50 countries worldwide, with North America taking the biggest overseas share with 17.6 percent.– NNN-ONA
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