Oman to split its wealth fund into two portfolios

Oman will split its wealth fund, one of the smallest managers of state capital in the Gulf, into two units overseeing local and foreign assets.

The National Development Portfolio, which includes more than 160 companies and manages local assets, will help support the state’s general budget through dividend distributions, state-run Oman News Agency said on Sunday. This arm will look to attract private sector investors and may privatise firms.

The second unit, called the Generational Portfolio, consists of mostly foreign assets and will focus on “achieving the greatest returns for future generations.”

Comments