11 April 2011
MUSCAT -- United Securities yesterday launched an equity investment fund titled 'United GCC Fund' with an initial subscription price of RO 1.020. The minimum investment for the open ended fund will be 3000 units at an initial price of RO 1.020 and there will be no maximum limit for investment.
The initial subscription period for the fund is for one month, May 10 to be more precise, and after that the investors are free to purchase the scheme at the existing net asset value (NAV).
Mustafa Ahmed Salman, Chairman and CEO of United Securities said the Fund objective is to generate capital appreciation by actively investing in securities listed on GCC markets. "The fund will have a truly diversified portfolio and will implement a flexible investor policy," he said.
Mustafa termed this to be the best time for the launch of the Fund from investor view point as present buy would give an investor huge returns in future. "The fund will actively invest in a well diversified portfolio in GCC equity markets to achieve capital appreciation by implementing fundamental analysis; and will also employ analysis to optimise the timing of entry or exit.
The fund will employ a blend of 'top-down' overlay and bottom-up analysis. The investment managers believe that this approach will generate high return keeping the risk in tolerance level," said Mustafa when asked about the strategy and risk management of the Fund.
The most attractive part of the Fund is its dividend policy which states that the Fund will distribute cash dividend on a regular basis. If the Fund performs more than 10 per cent, it will distribute cash dividends of at least 30 per cent from the annual income.
The Fund will focus mainly in banking, petroleum and retail sectors keeping in mind their positive projections and demographic support and there will not be an investment more than 35 per cent in any one of the GCC country market.
Commenting that the GCC fundamentals were very strong Mustafa recommended investors to go for the Fund now and reap the maximum returns. "The GCC region has 36 per cent of the global reserves and 23 per cent of the global gas reserves. High oil and gas revenues have created a fiscal surplus which has translated into an annual infrastructure spend of $150 billion.
Proactive government policies are also striving to diversify the economy and this we believe is a progressive trend. Further, majority of the 40 million population in the region belongs to the working age group," he said.
Investors willing to purchase or redeem Fund shall do so by completing and submitting the subscription or redemption forms. The NAV will be calculated weekly on Wednesdays at the end of business after all GCC markets close and subscription and redemption will be based on fully completed three business days prior to the valuation day before noon.
MUSCAT -- United Securities yesterday launched an equity investment fund titled 'United GCC Fund' with an initial subscription price of RO 1.020. The minimum investment for the open ended fund will be 3000 units at an initial price of RO 1.020 and there will be no maximum limit for investment.
The initial subscription period for the fund is for one month, May 10 to be more precise, and after that the investors are free to purchase the scheme at the existing net asset value (NAV).
Mustafa Ahmed Salman, Chairman and CEO of United Securities said the Fund objective is to generate capital appreciation by actively investing in securities listed on GCC markets. "The fund will have a truly diversified portfolio and will implement a flexible investor policy," he said.
Mustafa termed this to be the best time for the launch of the Fund from investor view point as present buy would give an investor huge returns in future. "The fund will actively invest in a well diversified portfolio in GCC equity markets to achieve capital appreciation by implementing fundamental analysis; and will also employ analysis to optimise the timing of entry or exit.
The fund will employ a blend of 'top-down' overlay and bottom-up analysis. The investment managers believe that this approach will generate high return keeping the risk in tolerance level," said Mustafa when asked about the strategy and risk management of the Fund.
The most attractive part of the Fund is its dividend policy which states that the Fund will distribute cash dividend on a regular basis. If the Fund performs more than 10 per cent, it will distribute cash dividends of at least 30 per cent from the annual income.
The Fund will focus mainly in banking, petroleum and retail sectors keeping in mind their positive projections and demographic support and there will not be an investment more than 35 per cent in any one of the GCC country market.
Commenting that the GCC fundamentals were very strong Mustafa recommended investors to go for the Fund now and reap the maximum returns. "The GCC region has 36 per cent of the global reserves and 23 per cent of the global gas reserves. High oil and gas revenues have created a fiscal surplus which has translated into an annual infrastructure spend of $150 billion.
Proactive government policies are also striving to diversify the economy and this we believe is a progressive trend. Further, majority of the 40 million population in the region belongs to the working age group," he said.
Investors willing to purchase or redeem Fund shall do so by completing and submitting the subscription or redemption forms. The NAV will be calculated weekly on Wednesdays at the end of business after all GCC markets close and subscription and redemption will be based on fully completed three business days prior to the valuation day before noon.
© Oman Daily Observer 2011
