Manulife, StanChart offer mutual fund

Manulife, StanChart offer mutual fund

JAKARTA: PT Manulife Aset Manajemen Indonesia and Standard
Chartered (StanChart) bank will jointly launch a mutual fund that
some expect could return about 12.5 percent per annum.

Eighty percent of the fund will be invested in government
bonds and 20 percent in other money market instruments.

"However, as the interest rate on SBI (Bank Indonesia
Certificate) is fluctuating, the 12.5 percent yield is not a
guarantee," said Manulife's assistant vice president Naresh
Krishnan on Wednesday. The yield will be paid monthly.

He added that the minimum investment was Rp 100 million (about
US$12,000). "But investors can choose our monthly reinvestment
option, which requires investors to pay only Rp 10 million
initially and add the amount until it reaches Rp 100 million," he
said.

Potential investors can buy the fund without having to pay any
subscription fee. They can also redeem the investment with a
redemption fee of 1.25 percent if they do so within the first
year. If they do it after a year, investors do not have to pay
any fee. --JP