Bank Muscat Oryx Fund wins coveted award

The Fund won the honour for both the 3-year and 5-year category and was rated the Best Performing Fund in the Mena region amidst 16 funds following a similar investment strategy

MUSCAT: Bank Muscat Oryx Fund has once again won the prestigious 2018 Thomson Reuters Lipper Fund Award for the ‘Best Mena Equity Fund’.

The Fund won the honour for both the 3-year and 5-year category and was rated the Best Performing Fund in the Mena region amidst 16 funds following a similar investment strategy. Oryx Fund’s consistent performance in the entire region has made it the only one to be awarded the third time in just four years. In the past, the Fund won the Lipper Award for the Best Mena Fund in 2009, 2015 and 2016.

The Oryx Fund has an outstanding track record second to none in the region. The Fund continues to be the best performing fund in the Mena region with sizeable outperformance against the peer group funds in its category. The Fund generated a return of 19% during the past 1 year as against a return of 6% in the S&P GCC Index. The Fund nearly doubled the investors’ money over the last 5 years.

Commenting on the achievement, Sulaiman Al Yahya, chairman of Oryx Fund Management Board, said, “Lipper’s credible and objective recognition of outstanding fund performance places Oryx Fund in a league of its own. Time and again, the performance of the Fund has been lauded by the global fund ranking entities such as Lipper Thomson Reuters, Mena Fund Manager and Emerging Market Finance. I would like to complement Bank Muscat, the fund manager for this achievement.”

Abdullah Al Hinai, general manager - Wholesale Banking of Bank Muscat, said, “The Oryx Fund represents a very attractive investment proposition for medium to long-term investors. The Fund’s strategy has delivered over various market cycles. We believe that investors will continue to generate attractive returns by investing in the Mena markets through Oryx Fund. We thank all investors for their commitment to the Fund. We also thank the Capital Markets Authority for their support as we are targeting to position Oryx Fund as the largest fund in the GCC.”

Lipper Fund awards are the ultimate recognition for the global fund industry and highlight funds that excel in delivering consistent, strong risk-adjusted performance. The awards showcase fund managers’ investment expertise and recognise funds with outstanding track records. For more than three decades, these awards have honoured funds and fund management firms that have excelled in providing consistently strong risk-adjusted performance relative to their peers.