Fincorp Al Amal Fund elects new chairman and board members

Muscat: At the annual general meeting held on the March 25, 2018, the Fincorp Al Amal Fund board members elected a new board and chairman for the Fund. Sayyid Aymen bin Hamad bin Hamoud Al Busaidi was elected as the chairman, Kasiraman Swaminathan as vice chairman and Shikhar Dharamsey Nensey, Shaikh Khalid Abdullah Ali Al Khalili, Shaikh Nasr Amur Shwain Al Hosni as board members.
Fincorp Al Amal Fund board welcomes Sayyid Aymen bin Hamad bin Hamoud Al Busaidi as chairman of the fund. Sayyid Aymen is the vice chairman at Sabco Group and holds top positions in other companies.
The fund ended the first quarter of 2018 with a gain of 7.80 per cent compared to its benchmark’s gain of 6.01 per cent. Fincorp Al Amal Fund has achieved year-to-date return of 11.42 per cent as against the benchmark return of 9.56 per cent. The fund has been doing well and is amongst the top Oman domiciled Gulf Cooperation Council (GCC) mandated funds. The fund’s performance has attracted fresh investors in the fund and has collected 45 per cent additional assets under management (AUM) during the last year.
Aiman Hassan Al Balushi and Gaurav Ramaiya, the fund managers said, “The fund’s investment strategy seeks to build a portfolio of stocks with attractive fundamentals, valuations and dividend yields, while actively managing downside risk in case of further market corrections. Regional markets offer attractive valuations and some of the highest dividend yields amongst emerging markets and are attractive to equity investors seeking higher returns outside of developed markets.”
Mutual funds play a significant role in the development of the capital markets. The investors need to look at mutual funds as a medium to long-term investment asset class with a three to five-year investment horizon.