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Fund manager Bahana TCW targets 13% managed asset growth
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Bahana TCW Investment Management president director Edward P. Lubis (right) and director Budi Hikmat talk during a media briefing in Jakarta on Jan. 19. (JP/Prima Wirayani)
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tate-owned fund manager Bahana TCW Investment Management has targeted its assets under management (AUM) to grow by more than 13 percent this year.
The firm, which is a joint venture between state-run PT Bahana Pembinaan Usaha Indonesia and Los Angeles-based Trust Company of the West (TCW), expects to see its AUM to stand at Rp 43 trillion (US$3.2 billion) by year-end from the Rp 37.82 trillion booked last year.
Last year's figure went northward by 26 percent compared to the amount managed in 2015.
(Read also:Outlook bright for IDX in 2017)
"Fixed-income mutual funds booked the highest growth while equity assets saw a heavy net inflow last year," Bahana TCW president director Edward P. Lubis said in Jakarta on Thursday.
Moreover, investment in government bonds saw better results last year as one of the fund manager's products booked a return of around 20 percent in the period.
Bahana TCW will continue to make government bond portfolios its business backbone this year, although it will invest more in the stock market on the back of optimism that the local market will keep growing despite global challenges.
"Domestic economic growth remains lucrative for investors to invest in the stock market," Edward said. (bbn)
