Jakarta, Indonesia First State Investments Indonesia (FSI Indonesia), an Australian-based fund manager, today announced the launch of the First State IndoEquity Peka Fund (FSI Peka Fund).
This fund (licensed by the Indonesian Regulatory Authority for Indonesian Capital Market on October 30, 2009) and the public offering starts with an initial net asset value of Rp 1.000 per unit. Citibank is the exclusive distributor the FSI Peka Fund.
"The FSI Peka Fund targets long-term investors seeking strong and sustained returns," said Putut E. Andanawarih, Marketing Director of FSI Indonesia.
He added that close to 80% of the fund will be invested in equities and the remainder in obligations and money market investments.
Legowo Kusumanegoro, President Director, FSI Indonesia, said in addition to investment benefits, the FSI Peka Fund also enables investors to contribute 0.5% of their investment to a number of philanthropic funds supporting community development and environmental programs.
One of the initial partnerships is with the Kelola Foundation, a non-profit organization that supports the restoration and development of Indonesian art and culture.
Speaking at the launch of the fund, Kelola Foundation Chief of Executive Board Linda Hoemar Abidin said, "This is an innovative and exciting development, and we hope other institutions will follow this great example of partnership."
Meliana Sutikno, Retail Bank Head - Citibank Indonesia, said, "We are delighted to be the exclusive distributor for this new socially responsible equity fund.
"We understand the importance of sustainable development and cultural preservation, and Citi Indonesia, along with our partners, would like to invite customers to support this fund."
Citi Indonesia Securities Fund Services Head Director, Margeret Tang said, "We are delighted that Citi Securities Fund Services (SFS) has been appointed as the custodian bank for the FSI Peka Fund.
"As the preferred custodian bank of many financial institutions and pension funds, we look forward to working closely with the FSI fund managers."
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