MAMI funds net big gain

JAKARTA (JP): Equity-based mutual funds issued by PT Manulife Aset Manajemen Indonesia (MAMI) booked a yield of 76.7 percent in 10 months, owing to the consistent upward index movement of the Jakarta Stock Exchange, an executive of the company said.

"From the first issuance in early August last year up to the end of May, our clients gained a more than 70 percent yield from holding our equity mutual funds," the company's investment director, Wim Al Fatih, said on Wednesday.

MAMI is a sister company of joint venture insurance firm Asuransi Jiwa Manulife Indonesia.

"Our sales agents both can sell insurance policies and investment products," Wim said.

MAMI started operations in August last year and currently has total assets of Rp 7.7 billion and Rp 4.4 billion in equity.

The company booked a net income of Rp 1.3 billion in 1998 and Rp 400 million in the first quarter of this year, according to Wim. (udi)