Jakarta. Asset manager Eastspring Investments Indonesia and stock broker Phillip Securities Indonesia announced a strategic partnership on Monday (14/08) to offer the former's mutual fund products through Phillip's online trading platform as the part of company's efforts to expand its investor database.
Eastspring, which is part of UK-based life insurer Prudential, offers three mutual fund schemes: two equity fund products and one fixed income product through Phillip's online trading platform, dubbed as Phillip's Online Electronic Mart System, known as POEMS.
The equity fund products, Eastspring Investments Alpha Navigator and Eastspring Investments Value Discovery, offer clients the opportunity to bet on Indonesia's listed companies stocks.
Meanwhile, the fixed income product — Eastspring Investments IDR High Grade — invests in government bonds and high-quality corporate debt, as well as domestic money market instruments for clients with moderate risk profile.
"With the reliability, wide coverage and the ease of transaction on the POEMS platform, we believe that our mutual funds will appeal to a wider range of investors in Indonesia, including millennials. This partnership furthers our commitment to developing Indonesia's capital markets through investment products for the country's growing middle and affluent population," Eastspring Investment Indonesia president director, Alan Darmawan, said in a statement on Monday.
Eastpring recorded that its equity fund products, Eastspring Investments Alpha Navigator, grew by 12.89 percent from January to July this year, while Eastspring Investments Value Discovery's Equity Funds increased by 13.86 percent in the first seven months of this year, which is higher than the country's broader stock index that grew 10.27 percent in the period.
The company's fixed income product, Eastspring Investment IDR High Grade, increased by 8.45 percent, which is comparable to the INDOBeX Government Bond Index which increased by 9.06 percent, according to Indonesia Bond Pricing Agency (IBPA) data.
"We are delighted to be working with Eastspring, one of the largest investment managers in Indonesia, and the leading asset manager in Asia. These three additions, complement the existing range of mutual fund products on our online mutual fund platform and will help our clients to meet their different investment needs," Phillip Sekuritas Indonesia Indonesia president director, Daniel Tedja said.
Eastspring, whose asset value reached Rp 66.5 trillion as of July this year, also distributes its mutual fund products through other online platforms in Asia, including POEMS and unit trust distributor FundSupermart in Singapore and Hong Kong.