Wed, 24 Dec 2008

State-owned PT Bahana TCW Investment Management is offering a limited-placement mutual fund aimed at raising Rp 325 billion ($29.9 million) to finance the development of an East Kalimantan supply base for mining logistics.



Dwina S. Wijaya, president of Bahana TCW, said on Tuesday that the fund, Bahana Private Equity Pelabuhan, is the first instrument in the country to offer investors the chance to buy into the real sector. She added that a new capital market regulation issued in February of this year allowed for the creation of such a fund.

“The mutual fund will be offered to no more than 50 institutional investors,” she said. The fund has a forecast minimum return of between 20 percent and 30 percent per year.

JG