BankMuscat MSCI Kuwait Fund achieves 44 per cent gain in 2007

The fund has consistently outperformed the broader Kuwait market as witnessed from its track record and the KSE index which increased by 27% during 2007.

The BankMuscat MSCI® Kuwait Fund is an open-ended fund, registered in Bahrain and managed by BankMuscat Asset Management Division (AMD). The fund offers investors easy access to a diversified basket of securities listed on the Kuwait stock exchange.

The Fund's assets are distributed across companies listed in the MSCI Kuwait IndexSM. The fund provides daily Net Asset Value (NAV), thus providing a facility of buying and selling the units of the fund on daily basis to the investors. The fees charged by the fund are the lowest at 0.85%p.a.

In keeping with its regional peers, the Kuwaiti economy has moved forward strongly, achieving strength on the back of robust global oil market uptrend. The domestic monetary policy has remained accommodative, positively promoting the business environment and stimulating consumer spending, with abundant liquidity and controlled inflation reinforcing the stance. The robust economic conditions and increased private spending as well as the strong pick up in the gross fixed capital formation driven by several capital projects is driving the demand for the non-oil sector.

As leaders in the local asset management industry, BankMuscat AMD enjoys an outstanding track record that is the result of the Division adopting disciplined investment processes, following sound operational systems and controls and being committed to meeting stringent ethical practices. Manned by a team of seasoned professionals, the BankMuscat AMD seeks to provide the required from a world-class investment manager.

During last 11 years of its operations, the asset management function of the bank has been instrumental in launching a range of investment products focused on local and regional markets and also across various asset classes. The activities of the division include Muscat fund (invests in Oman stock markets), Oryx Fund (Focused on GCC markets) and BankMuscat MSCI® Kuwait Fund.