Muscat Fund to invest in IPOs, GDRs

July 1, 2014 3:30 am

Muscat Fund, managed by the asset management division of Bank Muscat, has announced its decision to widen the objective of the fund to invest in initial public offerings (IPOs) in the sultanate and global depository receipts (GDRs), in the global financial markets, related to companies listed on the Muscat Securities Market (MSM), Muscat Daily has reported. “By including investments in IPOs and GDRs, the fund will be able to generate better returns for investors,” said chairman of Muscat Fund, Ghassan al Hashar.