Manulife buys govt bonds

Manulife buys govt bonds

JAKARTA (JP): Manulife Indonesia announced on Wednesday that
it had purchased Rp 25 billion (US$2.94 million) worth of
recapitalization bonds issued by Bank Indonesia.

"The purchase demonstrates our commitment to provide our
clients with high-yielding yet low-risk investments," said
company president Philip Hampden-Smith.

He said the transaction, which was brokered by the Singapore
branch of Deutsche Bank AG, was the first such transaction to
involve a foreign institution and it highlighted their commitment
to develop an active secondary bid market for approximately Rp
282 trillion in government bonds.

Manulife offers financial protection and wealth management
services, such as insurance, pension and mutual fund portfolios.
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