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Danareksa eyes Rp 500 billion AUM from new ETF product
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A staff member of state-owned PT Danareksa Investment Management serves a customer at the company's office in Jakarta. (kontan.co.id/Fransiskus Simbolon)
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tate-owned PT Danareksa Investment Management launched a new product called Danareksa ETF Indonesia Top 40 on Tuesday with the objective of increasing its assets under management (AUM) in 2018.
Marsangap P. Tamba, Danareksa Investment president director, said the company was eyeing Rp 500 billion (US$35.93 million) in AUM for its newly released product that targeted institutional investors.
“For our first [exchange-traded fund] ETF product, we have selected stocks with big market capitalization. It can be more liquid,” he told reporters at the Indonesia Stock Exchange building in Jakarta.
Despite many people’s concerns over ETF liquidity, he said, investors would have easier access to ETF products, as they were listed on the bourse.
In addition to the product, Danareksa Investment plans to launch up to 10 more products this year to reach its target AUM of Rp 35 trillion by year-end. As of April 20, Danareksa’s AUM had reached Rp 33.9 trillion, up 24 percent year-on-year.
“The total number of new products is probably going to be fewer than 10, including one asset-backed securities, two participation mutual funds, three or four protected funds and one or two sharia products,” he said. (bbn)
