Recapital Asset Management targets Rp100 billion for Recapital Terpoteksi III

BI/bursa

10/2/2010

By Irvin Avriano A. & Christine Felicia A. (M04)

for Bisnis Indonesia

Recapital Asset Management targets Rp100 billion for Recapital Terpoteksi III

JAKARTA: PT Recapital Asset Management targets of at least IDR100 billion funds under management of mutual funds RD Recapital Terpoteksi III which is still was marketed by the companies.

Director of Recapital Asset Management Nuryana Hidayat said the company would raise funds from investors maximum until the end of this month.

"I hope until the end of the month it can be fulfilled, we are targeting institutional investors for the mutual funds," he said when contacted yesterday.

Protected mutual funds are mutual fund products containing debt securities and the purchase time of additional unit is limited, unlike open-type mutual funds that have an unlimited time.

The capital market products, he said, has a tenure range that can contain several series of debt. That, he said, in accordance with the regulations of Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) which enable the protected mutual funds amortized.

He explained the company allocate all of its investment instruments in the mutual funds for government bonds (surat utang negara/SUN) and government's sharia debt.

According to him, the type of investors to mutual funds reserved for institutions that want minimal risk, so that does not include debt instruments issued by corporations that have a higher yield but with a greater risk.

He explained the company had just succeeded in raising funds about IDR100 billion from their new protected mutual fund Recapital Proteksi IV which collection investment period closed on February 3rd.

The company, he said, targeting its funds managed to grow a minimum of 100% from IDR200 billion at the end of last year to IDR400 billion at the end of this year. He explained that the raising action will be focused from several protected mutual funds that will be issued by Recapital Asset Management.

He continued, that his company's funds under management had decreased at the end of last year due to the expiration of several protected mutual fund.

The fund house, he said, also intends to focus its business this year to raise funds under management by embrace the insurance arm of its business group PT Recapital Advisory, Relife, and several banks as sales agents.

The company also will boost investments in limited inclusion mutual funds limited (private equity fund/reksa dana penyertaan terbatas/RDPT) and some products that have been managed.

One product that has managed the company's Syariah Capital Fleksi which is a product basedin the Islamic capital market securities. According to him, this year the company also will issue sharia mutual funds from other type of fund.

"For example, we could have issue sharia-protected mutual funds or sharia RDPT." (M04)