Deutsche Bank backs X-Tra fund

Deutsche Bank backs X-Tra fund

JAKARTA (JP): Deutsche Bank's personal and private banking
operation in Indonesia said it would act as sponsor, distributor
and custodian to clients of Investa X-Tra, a rupiah-denominated
mutual fund bond investment managed by PT MeesPierson Finas.

"Bonds are typically sold to institutional investors in
denominations of US$50,000 or more, making them inaccessible to
individual investors," the bank said in a statement.

However, through Investa X-Tra, individuals in Indonesia have
the opportunity to invest in the local bond market, it said.

MeesPierson Finas president director Izakia Mahdi said that
the company had pledged to provide optimum returns by investing
the fund in the safest alternatives available on the market.
(tnt)