Muscat: The Bank Muscat Oryx Fund has won the prestigious 2018 MENA Fund Manager award for the best GCC Equity Fund. This is the sixth time in the last eight years that the Oryx Fund is winning the award for the best performing equity fund in the Middle East and North Africa (MENA) region.
The fund has generated a return of 20.1 per cent in the last 12-month period as against a return of 3.1 per cent for the benchmark S&P GCC Index. Over the past five-year period, the fund has nearly doubled investor money as against a market return of 5.2 per cent.
Reckoned as the benchmark for the regional fund industry, the MENA Fund Manager awards endorse funds that excel in delivering consistent, strong risk-adjusted performance.
Commenting on the achievement, Sulaiman Al Yahya, Chairman of Oryx Fund, said: “The MENA Fund Manager award is a credible and objective recognition of the outstanding performance, which places Oryx Fund in a league of its own.”
“Time and again, the performance of the fund has been lauded by global fund ranking entities such as MENA Fund Manager, Lipper Thomson Reuters and Emerging Market Finance. Yet another endorsement from the MENA Fund Manager reflects the consistency of the performance of Oryx Fund and the innovative strategies, which have cemented its reputation in a tough market,” said Al Yahya.
Abdullah Al Hinai, General Manager, Wholesale Banking, said: "We thank all our investors for their continued support and commitment to the fund. 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 the Oryx Fund. We thank the Capital Markets Authority for its support and remain committed to developing the Omani capital markets and look forward to making Oryx Fund the largest fund in the GCC," he added.