|
PT Eurocapital Peregrine Securities is launching two new
mutual funds, called Euro Peregrine Equity and Euro Peregrine Liquid,
to tap into the country's growing mutual fund market.
"Each of the funds will be seeking to attract between Rp 200 and Rp 400
billion in the first six months, with even larger amounts expected
thereafter," Rudi Rusli, Eurocapital chairman told The Jakarta Post
after the launching of the products Wednesday.
The Euro Peregrine Equity fund will largely invest in the stock market,
while the other mutual fund, Euro Peregrine Liquid, will concentrate on
money-market securities, such as government and corporate bonds.
Rudi predicts an indicative return rate of 20 to 25 percent per annum
from Euro Peregrine Equity. "While for Euro Peregrine Liquid, the
return will be in accordance with developments on the currency market
-- about 11 to 13 percent annually," he explained.
Eurocapital's head of research, Poltak Hotradero, said the net asset
value (NAV) of the country's mutual funds was expected to rise to
between Rp 80 trillion and Rp 90 trillion this year as compared to Rp
52.28 trillion in 2006.
Last year's figure represented growth of 79 percent from the Rp 29.17
trillion recorded in 2005.
According to Poltak, this year will be a good year for investing in
mutual funds given the downward trend in the inflation and interest
rates.
Bank Indonesia's key rate (BI rate) is expected to further decline to
8.75 percent from 9.5 percent at present, while inflation is estimated
to remain within a range of between 6 and 6.5 percent.
The inflation rate, which rose as high as 17 percent in the early
months of 2006, declined significantly to 6.6 percent in December.
EPS is 85 percent owned by Development Capital Ltd. and 5 percent by PT
Eurocapital, with two individual investors holding 5 percent each.
EPS was first established in 1990 under the name PT Gunung Sewu
Securities. It later became PT Peregrine Sewu Securities, before
finally adopting its current name.
|
