(MENAFN - Muscat Daily) The bank muscat asset management division (AMD) marked a milestone achievement on crossing US1bn of 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 US1bn 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.''According to a press release, 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 is 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.Early this year, bank muscat asset management launched a first-of-its-kind money market fund, which evoked a strong response, exceeding the initial AUM target. The 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 the bank muscat Muscat Fund and bank muscat Oryx Fund product offerings.
