Lautandhana Targets IDR2 Trillion Assets Under Management in 2013

PT Lautandhana Investment Management is targeting to manage IDR2 trillion assets this year, by launching four new mutual funds in 2Q/2013. Director of Investment Management Lautandhana Grace Wiragesang said assets under management this year is targeted to increase approximately 33% to IDR2 trillion from last year which was stood at around IDR1.5 trillion.

“Assets under management target in 2013 is approximately IDR2 trillion, from IDR1.5 trillion. If we calculated the increase is not IDR500 billion, but it is likely around IDR850 billion as we have any payment for our protected mutual funds," she told the business.

She said the target will be obtained by launching four new mutual fund products, such as an Islamic mutual fund, a stock-based mutual fund, and two protected funds.

She revealed that the first product, Reksa Dana Lautandhana Saham Syariah, will be launched on January 9, 2013 through the Indonesian Central Securities Depository (KSEI). This mutual fund can be purchased through bank account debit with a minimum purchase of IDR200,000.

"The Company is targeting to collect around IDR100 billion from this new product, specifically we target retail buyers around 100 people, and for high end buyers about 25 people," she said.
According to her, Lautandhana chose to launch this Islamic mutual fund in attempt to introduce Islamic-based mutual fund and to develop such industry in Indonesia.

While two protected mutual funds and one equity fund will be launched no later than the second quarter of this year.

Grace claimed that she prefers equity fund because Lautandhan considerably has an experience in managing equity-based investments. Moreover, the public interest in this investment portfolio is still big enough.

Meanwhile, the Company’s reason to launch protected mutual fund is because the Government’s decision on the implementation of tax in this mutual fund this year. According to him, the government took the policy to delay the tax implementation in order to maintain the development of the national capital market.

"One of the reasons we intend to launch a protected mutual fund is the postponement of tax application in this mutual fund product. If the tax applied by the Government then the product will not be interesting," she explained.