Panin Sekuritas to launch two mutual funds<\/p>\n
JAKARTA (JP): Panin Sekuritas will launch two open-end mutual
\nfunds -- Panin Dana Optima and Panin Dana Maksima -- on April 15.<\/p>\n
Panin Sekuritas' president, Made Rugeh Ramia, said yesterday
\nOptima would offer about one billion trust units and aimed to
\ncollect Rp 1 trillion (US$420.16 million).<\/p>\n
"So far total funds collected are about Rp 181 billion," he
\nsaid.<\/p>\n
The funds collected so far come from the fund's sponsors
\nincluding Panin Bank (Rp 150 billion), Aneka Kimia Raya (Rp 5
\nbillion), Sorini (Rp 10 billion), PSP (Rp 5 billion), Bank Surya
\n(Rp 1 billion) and Bank Dagang Nasional Indonesia (Rp 10
\nbillion).<\/p>\n
Maxima will offer about 300,000,000 trust units and aims to
\ncollect about Rp 300 billion.<\/p>\n
"Total funds collected so far are Rp 11.7 billion," he said.<\/p>\n
He said most of this came from the fund's sponsors including
\nPanin Bank (Rp 10 billion) Panin Securities (Rp 1 billion) and Rp
\n700 million from individuals.<\/p>\n
"Our main target is Panin Securities' clients," he said.<\/p>\n
Panin Securities' director, Hendra Sutanto, said 85 percent of
\nOptima funds would be invested in fixed income instruments and
\nthe remaining 15 percent in equities.<\/p>\n
"But the percentage is not fixed, it can be extended to
\nbetween 70 percent to 90 percent in fixed income instruments." he
\nsaid<\/p>\n
He said Optima had a selling fee of 1 percent and a redemption
\nfee of between 0.5 percent and 1 percent.<\/p>\n
"If the investors sell within less than six months, the
\nredemption fee is 1 percent,' he said.<\/p>\n
If the investors wanted to sell their trust units after six
\nmonths, they are exempted from the redemption fee, he said.<\/p>\n
Seventy percent of Maksima would be invested in equities and
\nthe rest in money market, Hendra said.<\/p>\n
The initial minimum investment for the funds is Rp 250,000 and
\nfor further investments Rp 100,000.<\/p>\n
"That's a small investment and we aim to tap the small
\ninvestors," Hendra said.<\/p>\n
He also said Panin Securities plans to float about 75 percent
\nof its capital on the Surabaya Stock Exchange in June.<\/p>\n
He said about 33 million shares would be issued.<\/p>\n
Panin Securities has a paid-up capital of Rp 5.5 billion and
\nit plans to increase this to Rp 22 billion this year.<\/p>\n
"Proceeds from the initial public offering will be used to
\nincrease our paid-up capital," he said.<\/p>\n
The projected price earnings ratio would be announced soon, he
\nsaid.<\/p>\n
With Panin Securities' funds, there has been 35 open-end
\nmutual funds offered in the market so far.<\/p>\n
Bapepam officials said that some more funds, now on the
\nwaiting list, are expected to enter the market in the coming
\nmonths. (09)<\/p>",
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