Majan Capital Fund suspended
Majan Capital Fund, managed by Fincorp, has been suspended from trading on the Muscat Securities Exchange due to the decision of unit holders to delist the fund units from MSM.
Majan Capital Fund - JIA (formerly known as Majan Special Opportunities Fund - Joint Investment Account) (the Fund), was established as closed ended fund on 28 August 1995 in accordance with Articles 10 and 51 of the Muscat Securities Market Law, Sultanate of Oman.
The unit holders of the Fund in their Extra Ordinary General Meeting held on 19 March 2008 through a resolution approved the change of the name of the Fund from Majan Special Opportunities Fund - Joint Investment Account to Majan Capital Fund - JIA and to convert the Fund from closed ended to open ended effectively from 2 April 2008. Accordingly, the unit capital and reserve balance of the Fund as of the effective date were transferred to net assets attributable to the unit holders of redeemable units account.
The previous year’s figures are re-grouped and re-classified wherever necessary for the purpose of comparison. The primary objective of the Fund is to achieve long-term capital appreciation through a diversified portfolio, principally of equity and equity related investments.