JAKARTA (TheInsiderStories) – Fund manager, PT Mandiri Manajemen Investasi (MMI) partnering with PT Bank DBS Indonesia released Mandiri Global Sharia Equity Dollar with target funds around Rp1.5 trillion (US$101.35 million) until the end of the year. So far the unit of PT Bank Mandiri Tbk (IDX: BMRI) managed asset under management (AUM) funds worth of Rp1.1 trillion.
The company has actually launched the product since 2016. The investment portfolios of the managers included shares of Alibaba Group Holdings-SP ADR, Apple Inc, Equinix Inc, Facebook Inc-Class A, Mastercard Inc-Class A, Microsoft Corp, Nike Inc-CL B, Taiwan Semiconductor Manufacturing Company, Tencent Holdings Ltd and Zoetis Inc.
According to president director, Alvin Pattisahusiwa, the product have a long-term level. The investment policy for this product is a minimum of 80 percent of equity listed in the list of sharia securities. Then a minimum of zero percent and a maximum of 20 percent for fixed income sharia securities.
While, head of unit trust and treasures private client products for DBS Indonesia, Mus Hidayat, explained that since its introduction in 2016, securities-based Islamic mutual funds have continued showed the improvement, reached Rp9.34 trillion in August 2020 from Rp7.27 trillion in 2019. This year, MMI is targeting AUM of Rp58 trillion.
Last April, Self Regulatory Organization (SRO) give a various stimulus to capital market communities ease the burden on publicly listed companies and securities house. Indonesian Clearing and Guarantee Corporation also prepared a stimulus in the form of relaxation of the guarantee fund by relief of the guarantee deposit quote to the clearing member.
The amount of relaxation is set at 0.005 percent of the value of each exchange transaction on equity securities. Previously the amount was 0.01 percent. Then, PT Indonesian Central Securities Depository will provide relief for the issuers of fee relief in the form of waiver of the e-Proxy usage fee, and the initial registration fee for the securities issued through equity crowd-funding.
The agency also reduced the annual registration fee by 50 percent on securities issued through equity crowd-funding. Furthermore, the securities depository office also provided a stimulus to securities companies and custodian banks in the form of providing alternative connection networks using virtual private networks (VPN) and adjusting safekeeping fees from previously 0.005 percent to 0.0045 percent per year.
Other stimuli are for the mutual fund industry in the form of alternative network connections using VPN, adjusting the monthly cost of registered investment products, and waiving the registration fee for investment products.
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