Nikko Securities launches mutual fund<\/p>\n
JAKARTA (JP): PT Nikko Securities launched yesterday a new
\nopen-end mutual fund -- the Nikko Inti Nusantara Mutual Fund --
\ninto the domestic capital market.<\/p>\n
Harianto Solichin, a director of Nikko, said the company
\nexpected to generate around Rp 1 trillion (US$423 million) from
\nthe fund within three years.<\/p>\n
"Currently we have secured a total of Rp 370 billion or 37
\npercent of the total capitalization from our sponsors," he said,
\nadding the sponsors included Bank Central Asia, Bank Bali, Bank
\nCiputra, PT Indolife Pensiontama, PT Asuransi Kesehatan Indonesia
\nand PT Asuransi Jiwa Central Asia Raya.<\/p>\n
He said beside these sponsors, a number of institutional
\ninvestors had also committed to pay Rp 100 billion, sold to
\ninvestors at a nominal value of Rp 1,000 per unit.<\/p>\n
"Our target will be to invest 87.5 percent of the fund in
\nfixed income instruments and 12.5 percent in equities. But the
\nfixed income instruments could be reduced to 80 percent,
\ndepending on the market," he said.<\/p>\n
The securities firm's Associate Director, Adler Haymans
\nManurung, said that his company would also sell the mutual fund
\nabroad. "But first our target is to sell at home," he said.<\/p>\n
With the establishment of the Nikko Inti Nusantara Mutual
\nFund, there are now 25 mutual funds in Indonesia with a current
\ntotal capitalization of Rp 2.3 trillion.<\/p>\n
Nikko Securities Indonesia is owned by Nikko Securities of
\nJapan, Salim Group, Ciputra Group, Bank Dagang Negara Pension
\nFund and PT Astek Pension Fund. (bnt)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/nikko-securities-launches-mutual-fund-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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