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. As of August, Mandiri Investasi booked Rp 57.81 trillion in AUM. 

MGSED is an equity fund that invests in foreign sharia equity securities and focuses on investing in new economies which include the themes of digitization, financial evolution, feel-good businesses, healthcare innovation as well as energy revolution. 

Mandiri Investasi shifted its priority into investing into those emerging sectors in mid-2019 to better align itself with global technological disruption, which has seen new economy stocks outperform old economy stocks.

“Since last year, we saw an opportunity to invest in sectors that can create disruption to how we do businesses,” Alvin noted, adding that the equity fund consisted of 30 to 50 stocks of companies within those sectors. 

Popular

Much ado about asset forfeiture

Mass poisonings cast doubt on free meals reforms

Purbaya ousted after clash with Prabowo's ex-army colleague, sources say