New focus: National Development Portfolio and Future Generations Fund created to achieve strategic goals
MUSCAT, APRIL 25
Oman Investment Authority (OIA), the integrated sovereign wealth fund of the Sultanate of Oman, has announced the division of its sizable portfolio of local and international investments into two key pillars: National Development Portfolio and Future Generations Fund.
The announcement came in a post on the entity’s twitter handle on Monday. The goal, it noted, is to “contribute to national economic growth, support the state’s budget and achieve maximum returns for future generations”.
Later, in a statement to Oman News Agency (ONA), OIA Chairman Abdulsalam al Murshidi said the Future Generations Portfolio will consist of foreign assets and some local assets in various instruments including public and private markets, in addition to real estate. The underlying aim is to achieve the greatest returns for future generations, he noted.
The National Development Portfolio, on the other hand, is responsible for managing local assets and more than 160 Omani companies, Al Murshidi stated. This pillar of the Authority’s assets will contribute to the growth and development of the economy, in addition to supporting the state’s general budget through dividends, privatisation proceeds and treasury management.