Schroder launches 2 mutual funds

Schroder launches 2 mutual funds

JAKARTA (JP): PT Schroder Investment Management (SIM)
Indonesia launched yesterday two open-end mutual funds --
Schroder-Panin Dana Mantap and Schroder-Panin Dana Prestasi -- to
raise public funds.

The company said the first fund would be a fixed income fund
expecting lower risk and stable returns while the latter one
would be a balanced fund with a focus on equities.

PT SIM Indonesia is 85 percent owned by Schroders Indonesia
and 15 percent by Panin Sekuritas.

The company manages about Rp 500 billion (US$208.33 million)
in funds from Indonesia and overseas.

To better segregate its investment management business in
Indonesia, PT SIM Indonesia took over the business of the
investment division of Schroders Indonesia in May this year.

PT SIM Indonesia was set up to pursue new investment
opportunities in the growing investment management industry in
Indonesia, the company said.

The investment company is chaired by Pek Swan Teo Layanto, who
was previously PT Schroders Indonesia's investment director.

PT Schroders Indonesia also appointed a new president, Elsie
Choo, to replace Bill Foo. Elsie Choo was previously senior
director, financial division of Schroders International Merchant
Bankers Ltd in Singapore.

In a later development, Panin Sekuritas which has 15 percent
of PT SIM Indonesia, launched two open-end mutual funds -- Panin
Dana Optima and Panin Dana Maksima -- in April this year.

Panin's Optima offered about one billion trust units and aimed
to collect Rp 1 trillion (US$420.16 million) from the public.
About 85 percent of the funds would be invested in fixed income
instruments and about 15 percent in equities.

Maxima offered about 300,000,000 trust units and aimed to
collect about Rp 300 billion from the public with a target of 75
percent to be invested in equities and the rest in the money
market. (aly)