Bank Muscat Money Market fund registers a strong performance in 2024

Bank Muscat Money Market fund registers a strong performance in 2024

Bank Muscat Money Market Fund, Oman’s first money market fund, registered a strong performance with net annual returns of 5.20% realized for investors by the end of February 2024. With Assets Under Management (AUM) at over RO 91 million at the end of February 2024, the Fund retains its top position as the largest open-ended mutual fund in Oman. The superior performance and growth in the Fund’s assets are also a recognition of the popularity of the Fund amongst investors.

The fund offers an attractive cash management tool for investors to invest their short-term cash surpluses at an attractive return with relatively low risk (for details, please refer to the Prospectus Chapter 7: Risk factors and mitigation available on www.bankmuscat.com). The current annualized rate of return on the Fund exceeds 5% (as 29th February 2024), which is higher than the interest rates typically available on alternatives that provide short to medium term investment opportunity with relatively low risk. Accordingly, investors can benefit from higher returns on their cash surpluses by investing in the Bank Muscat Money Market Fund. The table below illustrates the rates of return realized from the Fund across different periods:

The Fund offers daily liquidity with one day minimum