The National Bank of Oman’s GCC Fund has raised more than RO12.4m ($32.2m),making it one of the largest equity funds in Oman.

The fund will target GCC-based companies that are expected to deliver strong growth and high dividend yield. It will also invest in some fixed income securities in the region.

Sayyid Wasfi Jamshid al-Said, deputy general manager and head of investment banking said that the fund will benefit from resilience of the region’s economies and their strong growth outlook.

“It is important to note that 30 per cent of public-listed GCC companies that are actively traded on regional bourses have distributed dividends even during the heights of the financial crisis,” he said.