Bahana launches Asian Bond Fund

Bahana launches Asian Bond Fund

JAKARTA: Investment manager Bahana TCW introduced on Tuesday a
local edition of the Asian Bond Fund (ABF), a regional securities
product that the Executive's Meeting of East Asia and Pacific
Central Banks (EMEAP) launched last week.

The rupiah-denominated mutual fund investment in mostly
government and state-owned enterprise bonds, will be part of
EMEAP's second offering of a US$2 billion ABF, after its maiden
dollar-denominated ABF issuance in 2003.

"We expect the bonds to help develop Indonesia's bond market
by attracting local as well foreign investors," Bahana TCW
president Dwina S. Wijaya said.

The initial offering of some 25 billion of the Indonesian ABF
notes will be exclusive to EMEAP members, but a second offering
in June will be open for the public, particularly for
institutional investors buying a minimum of Rp 100 million (some
$10,000) of the bonds. -- JP