DOHA  - Oman Investment Fund (OIF) may target defensive sectors such as healthcare and insurance in the short-term as more downside risks emerge for global economy, its chief strategy officer said.

"In the portion of our portfolio that is more exposed to public markets, we want to play defensively," Fabio Scacciavillani, chief strategy officer of the fund, told Reuters on the sidelines of a conference in Doha. "We think we are in a late cycle stage of growth globally. We won't see any acceleration in growth in the near future and let's say the risks are on the downside."

The International Monetary Fund recently cut its global economic growth forecast for 2018 and 2019, saying that the U.S-China trade war was taking a toll and emerging markets were struggling with tighter liquidity and capital outflows.

Sectors such as insurance and healthcare are less exposed to economic risks, Scacciavillani said.

He said on the private market side of the OIF's portfolio, the fund would like to target sectors that can give strong long-term return.

"I want to invest in Nano technology - not to make money six months from now, but I want to be on the wave of innovation that will make 10 times the money invested in 10 years."

Other sovereign wealth funds in the Gulf such as Saudi Arabia's Public Investment Fund and Abu Dhabi's Mubadala have recently sought to increase exposure to companies working on new technologies.

Oman Investment Fund, which was established in 2006 and manages about an estimated $6 billion, is the country's second major sovereign fund after State General Reserve Fund, which according to Sovereign Wealth Fund Institute manages $18 billion.

The government has been considering merging the two funds for months, but no formal announcement has been made yet.

Scacciavillani declined to comment.

The Oman Investment Fund was created as a future generation fund with the money ringfenced as the treasury cannot access it, he said.

(Editing by Sherry Jacob-Phillips) ((Saeed.Azhar@thomsonreuters.com; +971 520147569; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))