Standard & Poors, one of the world's foremost providers of independent credit ratings, indices, risk evaluation, investment research, data and valuations, has assigned its 'AA' (very high quality) rating to BankMuscat's Oryx Fund and 'A' (high quality) rating to the Muscat Fund.

The fund's, which are managed by the bank's asset management unit, are amongst the foremost mutual funds in the Sultanate of Oman, according to a senior bank officilal.

Oryx Fund seeks to provide long-term capital appreciation opportunities to investors through maintaining a diversified portfolio in stocks listed on GCC stock markets.

"The (investment) approach is very methodical and structured, emphasising bottom-up selection of companies with low PEG ratios and good management. A standard template is used to value each company and the team has developed an in-house database with models on each company followed…. we are impressed by this experienced team and its clear and robust investment process. The Fund consequently achieves a Standard & Poors AA rating," said a spokesman for Standard & Poors.

The Oryx Fund turned in returns of 32 per cent on its Net Asset Value (NAV) since the beginning of the year, thereby outperforming most of the GCC market indices.

"Muscat Fund’s performance has been good, and the fund outpaced its benchmark in each calendar year since 2003 through sound stock selection. The team is amongst the most experienced in the region and has created a disciplined and effective approach, which has been adapted to this less flexible mandate. The fund achieves an Standard & Poors rating," he spokesman added.

The Net Asset Value (NAV) of the Muscat Fund appreciated by 43 per cent since the beginning of the year. The fund offers investors easy access to a diversified basket of securities listed on the Muscat Securities Market (MSM).

Both the funds offer daily liquidity and also offer Systematic Investment Plan (SIP), a unique plan wherein investors can put in small sum every month without having to worry about timing the market.

Standard & Poor's Fund Management Ratings are used as a selection tool by many of the world's leading institutional and private client investors.

By assigning ratings to no more than 20% of funds within each sector, investors and their advisors have the confidence that they are choosing quality funds that best meet their client requirements. – TradeArabia News Service