MeesPierson launches mutual funds<\/p>\n
JAKARTA (JP): PT MeesPierson Finas Investa management launched
\nhere yesterday two open-end mutual funds -- MeesPierson Finas
\nInvesta Lestari and MeesPierson Finas Investa Pesona.<\/p>\n
Izakheeya Mahdi, president of MeesPierson Finas Investa
\nManagement said the company expected to generate around Rp 1
\ntrillion (US$307.60 million) from the public.<\/p>\n
She said the company had secured around Rp 5.85 billion funds
\nfrom sponsors including Bank Indonesia's Pension Fund (Rp 2.50
\nbillion), Grand Pacific Limited (Rp 2.35 billion) and Fortis
\nInvestment NV (Rp 1 billion) for MPF Investa Pesona.<\/p>\n
She said the company had also secured funds worth Rp 9.31
\nbillion from sponsors including Fortis Investment NV (RP 4.81
\nbillion), PT Jamsostek (RP 3 billion) and Bank Rakyat Indonesia's
\nPension Fund (Rp 1.5 billion) for MPF Investa Lestari.<\/p>\n
Mahdi said minimum initial investment for the funds was Rp
\n200,000 and thereafter an additional investment of Rp 100,000.<\/p>\n
\"The maximum investment in each fund is Rp 5 million,\" she
\nsaid yesterday.<\/p>\n
She said MPF Investa Pesona targeted its investments in equity
\nsecurities with a composition of 80 percent in stocks and 20
\npercent in fixed income instruments of a portfolio.<\/p>\n
She said MPF Investa Lestari would target most of its
\ninvestment in bonds. \"Bonds will account for 80 percent of MPF
\nInvesta Lestari investment and the remaining 20 percent in fixed
\nincome instruments,\" she said.<\/p>\n
At presence, there are around 74 mutual funds available in the
\nmarket.<\/p>\n
An executive from the Capital Market Supervisory Board
\n(Bapepam) Gus Asmarajaya said the mutual funds had become one of
\nthe backbone of the domestic investors in competing with the
\nforeign investors in the capital market.<\/p>\n
He said that domestic investors had accounted for almost 50
\npercent of transaction activities in the capital market now
\ncompared to that of meager 30 percent several years ago.<\/p>\n
\"It means that the mutual funds have actually increased the
\nbase of domestic investors in the capital market,\" he said. (aly)<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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