Pacific Capital Bolsters Equity

Jumat, 09/10/2009 00:00 WIB
Pacific Capital Bolsters Equity

JAKARTA: PT Pacific Capital Investment bolsters its equity from IDR16 billion to IDR26 billion to meet the Capital Market and Financial Institution Supervisory Agency's (Bapepam-LK) regulation.

Director of Pacific Capital Andreas Yasakasih revealed the equity injection was also injected by the shareholders to market private equity mutual fund.

He explained Bapepam-LK was processing the notification letter of company's equity injection. The company, he continued, was sounding several investors to create similar products that had capital market securities as their assets. The company was optimistic to be able to issue one private equity mutual fund this year.

"For a start, the assets will still be marketable securities, but later we will try to look for projects in the real sector," he told Bisnis recently.

He added the company at the moment was asking for an effective statement for fixed-income mutual fund Pacific Fixed Fund. The mutual fund product is targeted to raise IDR100 billion in investment fund.

Andreas said the company had just launched balanced mutual fund Pacific Balanced Fund, which is the first mutual fund product issued by the company.

"We don't fix too high of a target since we are still monitoring the market condition."

Fund management

According to him, before issuing the mutual fund the company only oversaw a total discretionary fund of IDR30 billion--IDR40 billion.

The amount of fund was raised from several institutional investors, on which the company still relied its income.

Therefore, inserted Andreas, the company still targeted institutional investors as major investor in the mutual fund product. However, he explained the company would also try to join hands with retail investors to expand new investor base.

The additional investors, he exposed, were needed in line with the company's plan to develop its business.

With new products supported by management and information technology required by Bapepam-LK, the company hoped to make its products more active than before.

According to him, the company was still building investors confidence in their mutual fund products by showing good track records. (Bisnis/21)