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Jakarta Post

Fund manager Aberdeen to work with more banks

  • Prima Wirayani

    The Jakarta Post

Jakarta   /   Wed, January 25, 2017   /  10:25 am
Fund manager Aberdeen to work with more banks Aberdeen Asset Management president director Sigit Wiryadi (right) and Philip Securities Indonesia president director Daniel Tedja display a cooperation agreement in Jakarta on July 19, 2016. (JP/Ivany Atina Arbi)

Fund manager Aberdeen Asset Management plans to work with more banks to market its investment products this year.

"We are trying to work with one or two more banks," Aberdeen president director Sigit Wiryadi told journalists on the sidelines of a media briefing in Jakarta on Tuesday, adding that his firm strived to add to its products distribution channels.

He did not go into details about the possible banks the firm might partner with.

(Read also: Aberdeen aims to be in Indonesia'€™s top 10 list)

Initially, Aberdeen worked with private lender OCBC NISP only to market its products before inking deals to partner with securities firm Mandiri Sekuritas and Phillips Securities Indonesia and private lender Bank Permata.

Aberdeen managed around Rp 700 billion (US$52.6 million) last year, lower compared to the approximately Rp 1 trillion in 2015. The decline was caused by a restructure of the firm's business, in which it no longer issued new products to replace its due protected funds.

It plans to issue around two new products, which will be based on equities.

Sigit, however, refused to elaborate on his firm's managed assets amount for this year.

"Aberdeen always looks at the long term. We want sustainable growth supported by investment-minded customers rather than just those who want to speculate," he said. (bbn)

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