StanChart Wins BankMuscat Custody Mandate

BankMuscat Muscat Fundhas selectedStandard Chartered Bank (Oman)as custodian,Oman Daily Observerreports. Earlier, the custody services of the fund were managed by BankMuscat, which will continue to manage the fund’s assets.

The move will give further drive to Muscat Fund in attracting investors, especially international institutional investors. It will also provide better protection of assets of unit-holders of the fund. The open-ended fund aims to outperformMSM 30indexby investing in benchmark stocks.

Click here for the story fromOman Daily Observer.