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Oryx Fund delivers over 29% return in 2023

11 Feb 2024 By OUR CORRESPONDENT

Muscat – Bank Muscat Oryx Fund achieved industry-leading gains of 29.2% during 2023, outperforming its benchmark, the S&P GCC Composite Index, which posted a return of 6.2%.

Accordingly, the Oryx Fund maintained its track record of delivering attractive returns in 2023 with an outperformance of 23% over the index.

‘The fund achieved this stellar performance despite challenging market conditions prevailing throughout 2023 due to various factors, including a sharp increase in interest rates and geopolitical issues,’ Bank Muscat said in a press statement.

The strong performance of the Oryx Fund positioned it as the top-performing GCC equity fund among its counterparts in Oman for the year 2023.

In addition to delivering robust returns, the fund also rewarded investors with consistent cash dividends. During 2023, the fund paid a dividend of 68bz per unit, higher than the 66bz per unit dividend 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 is regulated by the Capital Market Authority (CMA) in accordance with applicable laws and regulations in Oman. The fund stands out as an attractive investment choice for prospective investors with a medium to long-term view.

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 three days. Investors can invest in and redeem their investments in Bank Muscat Oryx Fund through Bank Muscat’s mobile banking and internet banking platforms. The minimum subscription amount for the fund is RO50.

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