PT Amsteel to launch two mutual funds<\/p>\n
JAKARTA (JP): PT Amsteel Securities Indonesia will launch two
\nmutual funds by the end of the year.<\/p>\n
Amsteel's director, Eric Y Nasution, said yesterday the
\ncompany aimed to collect about Rp 200 billion (US$84.03 million)
\nthrough the funds by offering about 200 million units.<\/p>\n
\"So each unit will have a value of Rp 1,000,\" he said.<\/p>\n
Eric said the two funds would be invested in the fixed income
\nand equity markets.<\/p>\n
The first fund will be 80 percent invested in fixed income
\ninstruments and 20 percent in equities, while the other fund will
\nbe 80 percent invested in equities and 20 percent in fixed income
\ninstruments.<\/p>\n
\"The exact composition has yet to be defined,\" he said.<\/p>\n
He said the company had proposed the two funds to the capital
\nmarket supervisory agency and was waiting for a launch date.<\/p>\n
He said the selling and redemption fees for the funds would be
\nset at a competitive and simple level but \"we are still working
\nto define the right fee rates\".<\/p>\n
Amsteel Securities is 85 percent owned by Malaysia's Amsteel
\nCapital Holding Bhd and 15 percent by SBU Sejahtera Bank Umum
\nGroup, in which Johny Basuki is the majority shareholder.<\/p>\n
There are about 33 mutual funds in Indonesia.<\/p>\n
The capital market supervisory agency has yet to approve some
\nof the new mutual funds which will come on to the market soon,
\nbringing the number of funds to about 50. (09)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/pt-amsteel-to-launch-two-mutual-funds-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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