Bank Muscat And Man Investments Launch $20 Million Fund Offering

by Philip Morton, Investors Offshore.com

09 September 2003

It emerged this week that Bank Muscat and Man Investments have joined forces to launch a new capital guaranteed product, the Muscat IP 320 fund.

Aiming for annualised growth of around 18% in the medium term, the $20 million fund is open to investors until mid-October.

The product will be offered in both US dollars and Omani riyals (RO), and calls for a minimum investment of $20,000 or RO10,000. In a statement, Bank Muscat explained that:

'Muscat IP 320 has been carefully structured in order to harness the performance potential of three core investment styles of Man Investments: arbitrage, fund of hedge funds and managed futures.'

The head of Man's Middle East and Asia arm, Antoine Massad was enthusiastic about the new venture, announcing that:

'Muscat IP 320 provides investors with the opportunity to benefit from a carefully structured product with an extremely sound risk and return objective over the medium term.' He went on to add:

'The product has a number of attractive aspects for any level of investor including a bulletin guarantee, profit lock-in feature, increased investment exposure and valuable portfolio diversification properties.'

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