Major global asset manager prepares to enter Omani market

Muscat: One of the world’s ten largest asset managers is making preparations to invest in Oman’s stock market after around 18 months of discussions with Omani companies and investment professionals, according to Gary Ballard of Oman Investment Bank.

Speaking at ConFEAS 2026 in Muscat on Tuesday, Ballard said the institution had recently indicated that it was taking steps to enter the market, following a meeting in London last month with representatives of a major Omani company. The investor’s change of position followed months of engagement aimed at explaining Oman’s economic prospects and introducing international fund managers to its listed companies. Ballard said the institution had become increasingly interested as it observed improvements in market liquidity and gained confidence in the direction of the country’s capital market. He did not identify the asset manager or the Omani company involved, nor did he disclose the size or timing of any prospective investment.

The example, he said, illustrated how international investors often need time to become familiar with a market before committing capital.Ballard has been involved in introducing Omani companies to institutional investors in London, where discussions have focused on company performance, market developments and the opportunities available in the Sultanate of Oman.

He said stronger liquidity had helped change perceptions of the market, although trading activity remained concentrated in a relatively small number of companies.That concentration, he argued, was not entirely a disadvantage.While it could limit the range of investment opportunities, companies with sufficiently active trading could attract large international funds that might otherwise overlook smaller markets. For investors considering emerging and frontier markets, the question was not simply whether shares were available to buy, but whether the listed companies offered meaningful exposure to the wider economy.Ballard said investors were effectively buying into a country’s economic development and future prospects.

Oman’s energy and banking sectors provided established investment opportunities, but he saw room for more private companies, particularly those operating in consumer-related businesses and technology, to become accessible to stock market investors. He said the level of technological innovation he encountered in Oman was encouraging, and greater representation of such businesses on the exchange could broaden the market’s appeal.

Ballard also highlighted opportunities to expand the range of financial instruments available to investors.Debt and equity markets, alongside products that could emerge through the development of international financial centres, could help attract a wider range of international participants and provide companies with additional funding options.He cautioned, however, that market development would be gradual and require further work to make investment procedures more straightforward.

International fund managers, he explained, may be unfamiliar with the operational arrangements of individual markets, including settlement procedures and requirements for funding transactions. Even relatively minor difficulties could discourage investment if they created delays or additional work for portfolio managers and their trading teams.

Ballard said the aim should be to remove unnecessary obstacles so that investors could concentrate on the merits of an investment rather than the complexity of accessing the market. He also emphasised that international index recognition, while important, was only one element in attracting foreign capital.

Oman’s inclusion on FTSE Russell’s Watch List for a potential upgrade to Secondary Emerging Market status has brought greater attention to the accessibility and liquidity of its equity market. But Ballard’s experience with international investors suggested that credibility was built through sustained contact, reliable market operations and a clear account of the opportunities available. For Oman, he said, developing that confidence would require continued engagement with investors, alongside improvements in market infrastructure and a broader range of investment opportunities.