This business unit manages listed assets that the company manages under its Asset Management license. The assets are spread across 7 stock markets in the Gulf Cooperation Council (GCC) countries under different structures which include mutual funds, client discretionary portfolios (DPMs), and proprietary portfolios.
The unit is staffed with a team professionals from experienced fund managers, researchers and analysts equipped with state of the art technology tools to deliver targeted returns.
As of December 2014, the assets under management for this business unit amounted to RO 114.269 million across the following products:
Closed Private Funds:
These are funds managed by the company for the promoters of the company in addition to couple of local banks. The value of these funds amounted to RO 79.082 million as of 31 December 2014 which consisted for the following funds
National Equity Fund (NEF)
This is the oldest closed ended mutual fund in Oman established in 1999 with unitholders being, The State General Reserve Fund (SGRF), the Public Authority of Social Insurance (PASI), Civil Service Employees Pension Fund along with other civil and military pension funds and couple of the local banks as well.
The fund has delivered superior returns to unit holders with about 8% p.a. since inception giving a positive alpha of 3% p.a. over the benchmark for the same period.
The Fund has paid out total dividends of more than of 210% (including stock dividend) since its inception.
TANMIA GCC Diversified Fund
The Fund provided the firm its exposure to the GCC market since 2006 after few years of focus in Oman stock market. The fund was established from dividends proceeds from National Equity Fund for 2005 with a capital of USD 25 million.
This business unit manages the firm’s own balance sheet by investing in listed equities aimed at generation of returns above the market returns in a well-diversified portfolios to enhance shareholders’ returns.
Open Ended Mutual Funds
Given the long track records in managing mutual funds for the company’s promoters, the company established its first open ended public fund in 2013. The Fund is structured as a Shariah complaint fund investing in the 7 GCC markets in stocks that are certified as Shariah Compliant stock. It was opened to public subscription in July 2013 and has been growing in size since then.
Click here to visit Al Kawthar Fund
Client Discretionary Portfolio Management (DPM)
The company has opened a specialized service for managing listed assets in the 7 GCC markets for sophisticated investors who would like their assets to be managed and administered by a professional fund manager in accordance with his risk and return appetite. The client’s appetite to different markets and sectors will be structured in a formal investment guidelines which will be formally agreed contractually with the client. The client will be also be provided with frequent performance reports with commentary and analysis.