MAMI eyes Rp 2t from three new products

The Jakarta Post, Jakarta

PT Manulife Aset Manajemen Indonesia (MAMI), one of the country's top investment firms, has launched three new stock-based mutual fund products and is targeting them to generate Rp 2 trillion (US$219 million) in fresh funds by the end of 2008.

As of last Friday, a company media release said Sunday, the products have generated over Rp 750 billion.

The products are Manulife Saham Andalan, the proceeds of which will be invested in the stock market, Manulife Dana Tumbuh Berimbang and Manulife Dana Stabil Berimbang; the proceeds of both will be invested in the shares, bonds and currency markets.

These rupiah-denominated products are available both for retail and institutional investors with a minimum investment of Rp 100,000.

"These products aim to provide various forms of investment to investors ... to take advantage of opportunities presented by the growth in demand for stock-based investments," Naresh Krishnan, MAMI president director, said in a statement.

As of the end of July, MAMI managed Rp 15.93 trillion in investors' funds.

MAMI is a subsidiary of Manulife Financial Indonesia, a large financial group operating in the country that is currently servicing over 1 million clients here.