Principal assets up 50%

Principal assets up 50%

JAKARTA (JP): Pension fund management company PT Principal
Indonesia said assets under its management rose 50 percent to Rp
230 billion (US$24.21 million) this year, crediting strong
marketing efforts for the increase.

"Our marketing team worked well in raising our market position
among pension fund management companies. For the year 2001, we
are optimistic we will reach assets growth of 100 percent,"
Principal president Jeffrey P. Newnam was quoted as saying by
Antara on Friday.

Newnam said his company aimed to become the market leader
among pension fund management companies in the Indonesian market.

According to him, Principal's revenue rose to Rp 21.6 billion
in this first nine months of this year. (bkm)