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Jakarta Post

Mandiri Investasi, DBS offer US dollar sharia mutual fund

  • Yunindita Prasidya

    Jakarta

Jakarta   /   Mon, September 28 2020   /  01:00 am
An officer is arranging US dollars in one of the foreign currency exchange outlets in Jakarta, on Thursday March 19. 2020. Based on the Bank Indonesia Jakarta Interbank Spot Dollar Rate (JISDOR) reference rate data up to 18:00 WIB the exchange rate of the rupiah against the US dollar weakened to the position of Rp 15,712 per US dollar due to negative sentiment of the COVID-19 pandemic.(Antara/Indrianto Eko Suwarso)

Fund manager PT Mandiri Manajemen Investasi (Mandiri Investasi) is partnering with Bank DBS Indonesia to offer dollar-denominated mutual fund Mandiri Global Sharia Equity Dollar (MGSED) as it aims to increase the total funds under its management.  Alvin Pattisahusiwa, president director of Mandiri Investasi, a subsidiary of state-owned Bank Mandiri group, said the company expected to increase its assets under management (AUM) by US$100 million by the end of the year through the mutual fund.  The product has been gaining traction in the market as Alvin reported that it had collected Rp 598 billion in AUM by the end of August, which had grown to Rp 1.1 trillion as of Sept. 22.  “In terms of Mandiri Investasi’s total AUM, we are targeting for it to be around Rp 58 trillion by the end of 2020,” Alvin said during a virtual media briefing on Wednesday....