Ashmore Asset Management Indonesia, Bank Danamon launch new mutual funds

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PT Ashmore Asset Management Indonesia and PT Bank Danamon Indonesia have jointly launched three new mutual funds, including an equity fund focusing on technology stocks.

They are the Ashmore Nusantara Equity Fund, Ashmore Superior Nusantara Bond Fund, and Ashmore Nusantara Capital Market Fund.

“In line with investment opportunities in the technology sector, and the plan for a number of companies to go public at the Indonesian Stock Exchange, we deem that our active investment philosophy that is focused on added value can provide an investment alternative to our clients,” Ashmore Asset Management Indonesia Director Arief Wana says in a statement on October 9.

The equity fund invests in attractively valued blue chip stocks, especially shares in the new economy and digital economy sectors. It provides semi-annual dividends and is aimed at long-term profit.

The bond fund, which is also aimed at long-term profit, invests in short-term government debt and provides monthly dividends.

The capital market fund is a highly liquid product that invests 100% in capital market instruments and Indonesian government and corporate debt securities with tenures of less than one year.

Ashmore Asset Management and Bank Danamon also collaborated to launch two other funds in November 2020.

“All five Ashmore mutual fund products have switching facilities between Ashmore mutual fund products so that clients can switch between Ashmore products,” Bank Danamon Consumer Business Head Lanny Hendra says in the statement.

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