Oman Investment Fund - Fund Snapshot

May 11, 2013

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The Sultanate of Oman established the Oman Investment Fund (OIF) in 2006 to make medium- to long-term investments at home and abroad to diversify the government’s asset base and create a pool of sustainable cash flows. The fund succeeded Oman’s Oil Fund, which had been formed in 1993 to invest in the domestic oil industry and then received an additional $1 billion from the government. OIF is overseen by the Financial Affairs and Energy Resources Council (FAERC) and the Ministry of Finance (MOF). OIF has around $17.2 billion of assets under management.

OIF has a long-term investment horizon and seeks sustainable above-average returns. The fund’s primary objective is to generate economic growth in Oman by investing directly in domestic companies, assisting foreign companies to extend their operations within Oman, or facilitating knowledge and technology transfer to domestic entities. The fund’s imperative to generate above-average long-term returns means that it is attracted to emerging industries within Oman and to markets with promising growth potential. OIF has a preference for high-growth emerging markets, such as India, where Oman has historical trading ties.

The fund is legally prohibited from publicly disclosing information about its investment strategy or asset allocation. However, it has sought to learn more about governance best practice by becoming an observer at the International Forum of Sovereign Wealth Funds.

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