PT Insight clarifies

We would like to thank you for attending our product launching of the i-Hajj Syariah Fund and writing about it in The Jakarta Post, on Jan. 19, titled First sharia-based mutual fund launched.

However, we would like to correct some inaccuracies found in the article.

The title: First sharia-based mutual fund launched. Our product is not the first sharia-based mutual fund. We are the first fund manager that has created a sharia-based mutual fund with a unique scheme of 1 percent from net asset value to be allocated as a social fund, especially for low income people to go on the haj pilgrimage to Mecca.

The fifth paragraph: "Pulungan did not explain whether or not the i-Hajj Syariah Fund would be listed on the capital market. But the company prospectus said the Capital Market Supervisory Board (Bapepam) had not issued a statement on the approval of the fund".

When a fund management firm initiates a public presentation for its mutual fund, there is no question of whether or not the mutual fund will be listed on the capital market. It is automatically listed on the capital market. As a fund management firm we are regulated by the rules of Bapepam and it would be impossible to carry out a launching program while the statement on the approval of the fund has not been issued.

SITI ARIMBI PULUNGAN Director PT Insight Investments Management Jakarta

Note: Thank you for your corrections.

--Editor