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Thursday, April 22, 2010

Schroders aims at IDR2.5 trillion new mutual fund asset

Thursday, 22/04/2010 00:00 WIB

Irvin Avriano A.

Schroders aims at IDR2.5 trillion new mutual fund asset

JAKARTA: PT Schroder Investment Management Indonesia targets the asset under management of Schroder 90 Plus Equity Fund worth IDR2.5 trillion for two years.

Marketing manager of Reksa Dana Schroder Indonesia Liza Lavina said the equity fund product here was targeted to collect IDR1 trillion funds up to end of the year.

"The target is not too much as we could collect IDR100 billion up to (yesterday) afternoon," she said yesterday.

She said the collection of mutual fund asset under management here was the largest ever collected by local investment managers from the open mutual fund marketing on the first day.

The marketing done by the company was done directly and it has not used bank as the sales distributor.

She said the company expected the 18 sales agents partnering so far with Schroeder could sell the product. But some agents willing to sell still waits for the permit from BI as the bank regulator.

The company targets the return form the product is far higher than the bourse growth this year as stock investment composition is very high.

The company allocates at least 90 percent investment portfolio of open mutual fund product to the equity traded at the bourse. As from the high stock composition, Liza said the company plans to invest on the stock with good fundamental.

The stocks opted by the company as the underlying assets are of those with good fundamental in terms of having big cap.

The stocks which will be taken by corporate investment managers are also limited only to those with high stock value growth.

This year the company targets to boost up the asset under management into IDR40 trillion or rose by 12.23 percent as from IDR35.64 trillion last year. (Bisnis/iaa)

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