Bank Muscat Money Market Fund Registers Strong Performance in 2024

Muscat, 14 Apr (ONA) ---- Bank Muscat 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.

The current annualized rate of return on the Fund exceeds 5% (as 29 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.

--- Ends/AH