bank muscat celebrates record growth in asset management
Last Updated : GMT 13:48:05
Arab Today, arab today
Arab Today, arab today

Bank Muscat celebrates record growth in asset management

Arab Today, arab today

Arab Today, arab today Bank Muscat celebrates record growth in asset management

Muscat - Arabstoday

Bank Muscat Asset Management Division (AMD) marked a milestone achievement on crossing $1billion assets under management (AUM). The division celebrated the achievement at a function attended by Ahmed Al Abri, chief operating officer and K. Gopakumar, Group general manager (Retail Banking, Investment Banking and Global Markets). Ali Said Ali, DGM -“ Asset Management and Private Banking, said: \"Bank Muscat Asset Management is proud to achieve the $1 billion AUM milestone, resulting from a combination of a strong inflow of funds from customers and a positive investment performance. We see the achievement as an endorsement from customers for Bank Muscat Asset Management as a safe and reliable partner for the financial investment advice they need. With $1 billion assets under management, Bank Muscat Asset Management is clearly the biggest wealth manager in Oman as well as a leading player in the region. Bank Muscat Asset Management will continue to foray into new investment avenues and bring to its investors unique investment propositions and enable them to create, manage and grow their wealth in a sustainable manner.- Bank Muscat has always taken the lead to understand the needs of retail and institutional clients and provide suitable investment solutions. The Asset Management Division currently manages investments in fixed income and equities. Bank Muscat AMD offers a variety of funds investing in Oman, GCC countries and India. It is one of the largest fund managers in the region and enjoys a dominant position being the first fund house in Oman with funds graded by Standard and Poor\'s Capital IQ. Bank Muscat AMD also manages structured products, hedge funds and private equity funds. The division offers discretionary portfolio management service to suit varied clients, including pension funds, global funds, high net worth individuals, corporations and other entities. Bank Muscat AMD is currently evaluating new opportunities in fixed income and real estate in the GCC region. Bank Muscat is always on the lookout for strategic investment products that reiterate its leading position in the region. Early this year, Bank Muscat Asset Management launched a first-of-its-kind money market fund, which evoked a strong response, exceeding the initial asset under management (AUM) target. The unique investment vehicle offers an alternative for corporates and financial institutions to park their short-term cash surplus with low risk, daily liquidity and ease of operation. Bank Muscat AMD offers a unique avenue to invest in the local and GCC market through Bank Muscat Fund and Bank Muscat Oryx Fund product offerings. Both the funds have been graded Gold by Standard and Poor\'s Capital IQ. The BM S&P GCC Large Cap Index Fund registered in Luxembourg (Bank Muscat Standard & Poor\'s GCC Large Cap Index Fund) is an index tracking fund directed at institutional investors aiming to tap into the attractive growth potential of the GCC region markets. Ali Said Ali added: \"The $1 billion AUM milestone endorses the performance of various funds under the mandate of Bank Muscat Asset Management and also the proven ability of the fund managers in challenging situations. This reflects the consistency of performance of the funds and the strategies adopted Bank Muscat Asset Management which has cemented its reputation in a very tough market. From:Times Of Oman  

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