The Muscat Stock Exchange (MSX) has entered a new phase of development with the landmark listing of the Oman Gateway Fund. Managed by United Securities, the fund represents the first financial instrument in the Sultanate to merge the characteristics of an open-ended mutual fund with the real-time trading flexibility of listed equities.
The debut on the MSX follows a highly successful initial public offering (IPO) that concluded with record-breaking investments, cementing its place as a significant development in Oman’s financial landscape.
A Record-Breaking IPO
United Securities announced that the fund’s IPO attracted investments exceeding RO 26.5 million. This achievement marks the largest public subscription for a mutual fund by capital raised in the history of Oman, signaling strong investor appetite and confidence in the local market.
The fund offers a professionally managed and diversified vehicle, providing both domestic and international investors a unique opportunity to engage with Oman’s capital market at a pivotal time in its evolution.
An Innovative Market First
The Oman Gateway Fund operates as a regulated mutual fund that is simultaneously listed and traded on the MSX. This innovative structure allows investors to buy and sell units during regular trading hours, similar to transacting with listed stocks. This accessibility is combined with the benefits of professional portfolio management, strong governance, and pricing based on net asset value (NAV).
United Securities will apply its proven, research-driven investment process, which has consistently delivered strong results for its discretionary portfolio management (DPM) clients, to the management of the Oman Gateway Fund.
Strengthening Oman’s Capital Market
The listing is seen as a strategic milestone in boosting the liquidity and dynamism of the Omani financial ecosystem, aligning with the nation’s strategic roadmap for financial sector development.
In a press statement, Haitham Al Salmi, Chief Executive Officer of the Muscat Stock Exchange, commented, “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.”
Mustafa Ahmed Salman, Chief Executive Officer of United Securities, added, “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. 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.”
About United Securities
United Securities LLC is an Omani joint stock company established in 1994. It is licensed by the Capital Market Authority (CMA) of the Sultanate of Oman to operate as a full-service brokerage house and investment manager, offering a range of financial services to its clients.
Source: Muscat Daily
