Bahana manages Rp 900b in public funds

JAKARTA (JP): PT Bahana TCW Investment Management has managed at least Rp 900 billion (US$347.49 million) in public funds pooled through its four mutual funds, says the company's senior executive.

Managing Director John Budiharsana told a press conference Saturday that around Rp 400 billion of the funds were raised from retail investors and the remaining Rp 500 billion from pension funds, insurance companies, banks and others.

John said of the Rp 400 billion in public funds, around Rp 280 billion was managed through a full discretionary basis, meaning that Bahana TCW would determine the portfolio instrument to invest while the remaining Rp 120 billion through a nondiscretionary basis.

"Nondiscretionary basis means that investors will determine the portfolio instrument to invest while Bahana TCA acts merely as a consultant," he said.

PT Bahana TCW Investment Management is a joint venture between state-owned PT Bahana Pembinaan Usaha Indonesia with 60 percent share ownership and TCW-Capital Investment Corporation from the U.S. with 40 percent share ownership.

The company has launched four mutual funds -- Bahana Dana Abadi, Bahana Dana Prima, Bahana Dana Selaras and Bahana Dana Infrastruktur since August last year.

John Budiharsana said 80 percent of funds pooled through Bahana Dana Abadi were invested in bonds and the other 20 percent in the money market.

Funds through Bahana Dana Abadi totaled Rp 13.94 billion as of July 31, 1997, he said.

The Bahana Dana Prima fund has so far pooled about Rp 54.94 billion from investors, around 80 percent of which was invested in equity and the remaining 20 percent in the money market and bonds, he said.

John said Bahana Dana Selaras had raised Rp 146.10 billion as of July 31, 1997, while Bahana Dana Infrastructure pooled Rp 52.76 billion in the same period. (aly)