Muscat – The Muscat Stock Exchange (MSX) has marked a new chapter in the history of Oman’s financial sector with the listing of the Oman Gateway Fund. The fund is the sultanate’s first mutual fund to combine the features of an open-ended structure with the flexibility of real-time trading.
United Securities, the fund manager, announced the successful conclusion of the initial public offering (IPO), which attracted record-breaking investments exceeding RO26.5mn. This makes it the largest public subscription for a mutual fund by capital raised in Oman’s history.
The Oman Gateway Fund operates as a regulated mutual fund and is simultaneously listed and traded on the MSX. Investors can buy and sell units during regular trading hours in the same way as listed equities, while benefiting from professional portfolio management, robust governance and net asset value (NAV)-based pricing. No fund in Oman has previously been structured in this manner.
United Securities brings to the fund its strong track record in managing Omani discretionary portfolio management (DPM) mandates and will apply the same disciplined, research-driven investment process that has consistently delivered results for DPM clients to the management of the Oman Gateway Fund.
The fund provides investors with a professionally managed, diversified vehicle, enabling both local and foreign investors to capitalise on opportunities at a pivotal moment in the development of Oman’s capital market.
In a press statement, Haitham Al Salmi, Chief Executive Officer of the Muscat Stock Exchange, said, “The listing of the Oman Gateway Fund represents a significant milestone in deepening the Omani capital market and diversifying the investment instruments available to investors. The inclusion of this type of traded fund enhances liquidity, improves pricing efficiency and expands the investor base. This further solidifies the Muscat Stock Exchange’s position as a regulated and transparent market that supports efficient capital allocation. It also keeps pace with the continuous development of market infrastructure, in line with our efforts to enhance the exchange’s attractiveness and reinforce its role as a fundamental pillar of the national financial ecosystem.”
Mustafa Ahmed Salman, Chief Executive Officer of United Securities, said, “Raising more than RO26.5mn from institutional and retail investors in a single public offering reflects genuine confidence in Oman’s capital markets and in United Securities. Our established track record in managing Omani DPM mandates has given us deep and proven knowledge of this market, and we bring that expertise directly to the management of the Oman Gateway Fund.
“Combining the discipline of a mutual fund with the accessibility of an MSX-listed security is a first for Oman. We are proud to deliver this innovation and remain fully committed to bringing institutional-grade investment products to Omani investors.”
The listing of the Oman Gateway Fund marks a strategic milestone in enhancing the liquidity and dynamism of the Muscat Stock Exchange. By introducing innovative investment vehicles, the fund aligns with the sultanate’s strategic roadmap for financial sector development, further strengthening Oman’s position as a destination for regional and international capital.
