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)