Bank Muscat Oryx Fund delivers a remarkable performance in 2023

bank muscat
bank muscat

Muscat: Bank Muscat Oryx Fund registered industry leading gains of 29.2% during 2023 as against its benchmark S&P GCC Composite index, which posted a return of 6.2%. Accordingly, the Fund maintained its track record of posting attractive returns during 2023 with outperformance of 23% over the index. The Fund achieved this stellar performance despite challenging market conditions prevailing throughout 2023 for a number of factors, including a sharp increase in interest rates and geopolitical issues. The strong performance of the Fund made it the Top Performing GCC Equity fund among the GCC equity funds in Oman for the year 2023. The Fund has been delivering consistent performance across all periods as highlighted below:

Bank Muscat Oryx Fund’s performance track record

Period Bank Muscat Oryx Fund S&P GCC Composite Index Outperformance
2023 29.2% 6.2% 23.0%
Past 3 Years 22.6% p.a. 9.0% p.a. 13.6% p.a.
Past 10 Years 11.1% p.a. 2.2% p.a 8.9% p.a.

Note: Return over 1-year period is annualized           Performance as on December 31, 2023                  Data source: Bloomberg and Bank Muscat

In addition to delivering robust capital appreciation, the Fund also rewarded investors with consistent cash dividends. During 2023, the Fund paid dividend of 68 baisas per unit which is higher than the dividend of 66 baisas per unit paid in 2022.

Bank Muscat Oryx Fund primarily invests in stock markets in the GCC region and has a consistent and proven track record of generating attractive returns for 29 years. The Fund is one of the largest funds in the GCC region within its category and it is regulated by the Capital Market Authority as per the applicable laws and regulations in Oman. The Fund clearly stands out as an attractive investment choice for prospective investors with a medium to long term view.

Bank Muscat Oryx Fund offers daily liquidity with no minimum holding period. Investors may choose to sell their investment anytime and receive cash funds in their bank accounts within 3 days. The Fund’s Net Asset Value (“NAV”) is published on a daily basis on Bank Muscat’s website and on Muscat Stock Exchange’s website, so that investors can track the value of their investments on a daily basis. Investors can invest and redeem their investments in Bank Muscat Oryx Fund through Bank Muscat’s Mobile Banking and Internet Banking platforms. The investors can subscribe for the Fund with a minimum subscription amount of RO 50. Investors may also choose to invest every month by subscribing to the Systematic Investment Plan (SIP) option through filling in the application form and submitting it to Bank Muscat asset management. Interested investors may contact the relevant team of the Fund through email at [email protected].

Please refer to the prospectus of Bank Muscat Oryx Fund available on to understand the Fund’s details including key terms and conditions. Investors are also requested to refer to the key risk factors highlighted in the prospectus. It should be noted that the mutual fund returns are subject to market performance and past performance doesn’t guarantee future performance.

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