Trimegah Launches Mutual Fund in US Dollar

Trimegah Launches Mutual Fund in US Dollar: Investment company PT Trimegah Asset Management has launched a mutual fund program in US dollars.

CEO Denny Thaher said the fund would manage up to $10 million. “The mutual fund is invested in the government and corporate bonds which is issued in US dollars,” he said yesterday.

The subsidiary of PT Trimegah Sekuritas has appointed Bank HSBC Jakarta to be the custodian bank, receiving 0.2 percent from NAB. The maximum fee for a company is two percent.

The mutual fund will cover medium and long term investments. As much as 85 – 100 percent of the investments will be placed in local bonds which will be traded in the Indonesian Stock Exchange or overseas in the US dollar currency.

via :http://www.tempointeractive.com/hg/nasional/2011/07/19/brk,20110719-347241,uk.html