Bank Muscat has been awarded the Best Asset Manager in Oman award for the year 2015 by MENA Fund Manager. Bank Muscat is not only the largest asset manager in Oman but also the most consistent in terms of performance. The asset management business of the bank managed by the Private Equity and Asset Management group put up a stellar performance in 2015 in the face of weak markets in the region.
During the year 2015, the bank concluded Series II of its GCC Property Income Fund that invests in properties offering a regular annual yield of 7 to 8 per cent. The year also witnessed a successfull conclusion of its first closure for Izdihar Fund, a real estate fund registered with the Capital Market Authority in Oman which aims to generate steady and attractive annual income in excess of 7 per cent from investments into income generating properties.
The Bank Muscat Private Equity and Asset Management maintains leadership position thanks to its experienced team, research-based decision making process, financial strength, and strong systems and processes.
Abdullah Al Hinai, General Manager – Wholesale Banking, said: “Bank Muscat Private Equity and Asset Management is proud to carve a niche in fund management business in Oman and the region. Notwithstanding the challenging situation, the endorsement from MENA Fund Manager reaffirms the consistency in performance of our mutual funds and the innovative strategies used to consolidate our reputation in a tough market. The award is an endorsement of the proven ability of our fund managers in challenging situations. Going forward, we are optimistic about tackling the prevailing market challenges and further setting a benchmark for the funds under our management.”
As the biggest fund manager in Oman, Bank Muscat caters to institutional, high net worth and retail customers with multiple offerings for investments into Oman, the MENA region and international markets. The Private Equity and Asset Management division manages over $2.1 billion worth of assets, 42 per cent of which are invested in equity markets, 30 per cent in fixed income and 28 per cent in private equity investments. Bank muscat also offers discretionary portfolio management services, targeted to suit diverse clients, including pension funds, sovereign wealth funds, high net worth individuals, corporations and other entities.
The paramount AUM position enjoyed by Bank Muscat Private Equity and Asset Management division corroborates the bank as a safe and reliable partner for financial investment advice. The division is always on the lookout for strategic investment products, enabling its esteemed investors to create, manage and grow their wealth in a sustainable manner.