“We will launch a protected mutual fund called Fortis Kapital VII in the next three weeks,” BNP Paribas president director Tino Moorress told a press conference in Jakarta on Wednesday.

He said that Fortis Kapital VII would follow the company’s previous product Fortis Kapital VIII, which was launched early April.

Fortis Kapital VIII is a short-term investment fund with a tenor of approximately 15 months from the launch date. BNP Paribas is cooperating with Bank Commonwealth as its selling agent in marketing the product that provides coupons every three months with a dividend of 7.2 percent per annum. The corporate-based mutual fund provides a minimum 100 percent principal protection upon maturity and quarterly dividends.

“The mutual fund still uses the ‘Fortis’ name as it was registered at the Capital Market and Financial Institutions Supervisory Agency when our company was still named PT Fortis Investments,” he said.

“But we are planning to change all our product names that use Fortis to BNP Paribas gradually over the next few months.”

Fortis Investments changed its name following its merger with BNP Paribas in the European headquarters resulting in a total 530 million in AUM in the world. Fortis Investments has been in Indonesia since 1992 and changed its name to BNP Paribas on April 5, 2010.

Before the merger, Fortis had launched 12 open-ended mutual funds and seven protected mutual funds.

“The merger only changed the name of the company, but the company structure and staff remain the same,” Moorress said, adding that the challenge was in building awareness of the new name.

Senior BNP Paribas adviser Eko Priyo Pratomo said the company had started its new brand campaign last year.
“The merger gave us an opportunity to sell more Indonesian mutual funds to the global market,” Eko said.

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