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Panin Asset Management eyes 35% jump in assets
Trucks and heavy equipment are in operation at an infrastructure project in Indonesia
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span class="inline inline-center">Trucks and heavy equipment are in operation at an infrastructure project in Indonesia. President Joko 'Jokowi' Widodo has pledged to focus on infrastructure development in his five-year term as president, boosting share prices of infrastructure-related firms. (Tempo)
Indonesia's Panin Asset Management expects assets under management (AUM) to reach Rp16 trillion in 2016, driven by improved domestic macroeconomic conditions.
The target marks a 35 percent increase from last year's achievement of Rp12 trillion. To meet the target, the company's subsidiary Panin Bank aims to increase the number of investors by 10,000 this year to 65,000 investors.
Panin Asset Management director Ridwan Soetedja said on Wednesday that Indonesian economic indicators pointed to improved business prospects in the beginning of 2016, as indicated by stable inflation and a stronger rupiah against the US dollar. The government has also issued pro-investor policies through economic stimuli packages.
The positive indicators would attract more capital to the country and eventually strengthen the rupiah and increase foreign exchange reserves, Ridwan said.
"Regarding these fairly optimistic indicators, we will see a better market this year, with investors generally tending to increase the allocation of investment in the capital market," Ridwan told thejakartapost.com.
Panin Asset Management launched a new mutual fund, Panin Dana Infrastructure Bertumbuh, in Jakarta on Wednesday in order to meet the AUM and investor targets, following the previous product dispatched in early 2016, Panin Dana Pendapatan Berkala.
"We are launching three new products this year, two have already launched, while the third will be launched in the second semester," Ridwan said, adding that details on the new products would soon be disclosed.
Panin Dana Infrastructure Bertumbuh is an infrastructure-backed mutual fund, including construction, cement, property and finance.
"AUM from this product is targeted to reach Rp 1 trillion by the end of 2016, or 8 percent of our total AUM," he said.
Panin Asset Management research analyst Rendy Aditya Putra said Indonesia's infrastructure sector was developing rapidly, opening opportunities to invest in infrastructure and supporting sectors.
"Panin Dana Infrastruktur Bertumbuh aims to develop an optimal investment return over the long term by investing in the infrastructure sector. The placement will include a minimum of 80 percent in equity securities," Rendy said. (dan)(+)
