SGRF achieves highest returns since 1980

Business Tuesday 13/November/2018 16:06 PM
By: Times News Service
SGRF achieves highest returns since 1980

Muscat: Abdul Salam bin Mohammed Al Morshedi, CEO of the State General Reserve Fund (SGRF), said that SGRF has achieved the highest returns since its establishment 38 years ago.
He said that the recent withdrawals due to the low oil prices did not affect its investment commitments and none of its assets is sold to support the deficit.
He added that SGRF has maintained its annual rate of return at 7 per cent, an increase of nearly 200 per cent or more of its size since its inception.
He pointed out that SGRF operates with a very high transparency and is subject to internal and external audits from independent parties.
In an interview with Oman daily newspaper, he explained that the annual investment volume of SGRF is between US$1 billion and US$1.5 billion. It also invests in more than 70 countries in different geographic regions according to the fundamentals and strategies, including the study of global phenomena in the next ten years, which determine the major economic directions.
He said that SGRF 's direct investments are diversified into five targeted economic sectors, namely the real estate, mining, healthcare, logistics, ports, food industries and various investments including energy, electricity and education.
He added that sovereign wealth funds aim to achieve steady returns and maximize their assets by investing in assets and tools.
He said that SGRF has two main objectives: balancing the state budget and saving for the future generations, adding “On this basis, the fund's assets are distributed in a balanced manner to achieve both goals.”