Bank Muscat, the leading financial services provider in the Sultanate of Oman, is delighted to announce the successful launch of Al Tharwa Fund, a balanced fund investing in both equity and fixed income securities. During the Offer period from 1st to 12th September, 2024, the Fund has received a strong demand from individual and corporate investors. The subscribed units were allocated on 26th September 2024, during which the open-ended fund reopened for regular subscription and redemption.
The open-ended Fund offers regular dividends as well as capital appreciation to investors and it provides the benefit of diversification by investing in two key asset classes i.e. equity and fixed income securities through a single fund. The Fund has appealed to retail and institutional investors and is reflected in its granular and well-diversified customer base.
The Fund was launched by Bank Muscat’s Asset Management, which is the largest asset manager in the Sultanate of Oman and one of the most experienced asset managers in the GCC region. The Asset Management team has a proven track record of managing GCC equities since 1993 across multiple funds and strategies including Sharia-focused investments. For reference, Bank Muscat Oryx Fund, the flagship GCC equity fund, managed by the team, has delivered consistent performance across all periods.
During the continuous offer period, investors who wish to subscribe to the Fund can download the subscription form from Bank Muscat’s website via www.bankmuscat.com and submit it to the nearest Bank Muscat branch. Bank Muscat customers can subscribe to the Fund through the Internet Banking platform of Bank Muscat. Interested investors may contact the Fund Management team via email at assetmanagement@bankmuscat.com. Being an open-ended fund, investors may redeem their units anytime through Internet Banking platform of Bank Muscat or by submitting duly filled and signed redemption forms to the nearest branch of Bank Muscat.
Speaking on the successful launch of the Fund, Khalifa Abdullah Al Hatmi, Deputy General Manager, Investment Banking and Capital Markets, Bank Muscat said: “Al Tharwa Fund is an important addition to our bouquet of funds and is a testament of the trust that investors have in Bank Muscat Asset Management’s investment products and financial solutions. This Fund enables regular rebalancing of the allocation to equities and fixed income securities, to provide an inbuilt advantage of diversification for investors during changing market conditions and to manage the volatility effectively. Considering the global factors and the need to address the volatility, the Fund provides the investors with the optimal allocation for their investments. We would like to thank our individual and corporate investors for the trust bestowed in the offering and for their faith in the banking solutions offered to them.”
Bank Muscat Al Tharwa Fund is an open-ended fund regulated by the Financial Services Authority, Sultanate of Oman and is open for investment by both retail and institutional investors. The investment strategy of Bank Muscat Al Tharwa Fund is to maintain an optimal mix of equities and fixed income securities based on the prevailing market conditions and offer advantage of regular distributions as well as capital appreciation to investors. The Fund offers daily liquidity with no minimum holding period or exit costs. Investors can subscribe to the Fund with a minimum subscription amount of OMR 50 and there is no maximum limit for investment. The Fund’s Net Asset Value (NAV) will be published daily on the websites of Bank Muscat, and Muscat Stock Exchange, allowing investors to track the value of their investments daily.
