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Eastspring ID announces a new distribution agreement with HSBC ID

19 Feb 2014

PT Eastspring Investments Indonesia (Eastspring Investments Indonesia) and The Hongkong and Shanghai Banking Corporation Ltd Indonesia (HSBC Indonesia) today officially announced an agreement to distribute Eastspring Investments Alpha Navigator equity fund to the Bank’s retail customers in Indonesia.

A Memorandum of Understanding (MoU) was signed today by Eastspring Investments Indonesia President Director, Riki Frindos, and HSBC Indonesia Senior Vice President and Head of Wealth Management, Steven Suryana.

Steven Suryana said, "HSBC aims to build long term relationships by understanding and meeting our customers’ needs to manage and grow their wealth. We are committed to offering customers a focused and carefully selected range of customer-centric solutions. The new fund will expand the choice of suitable investment solutions customers can select based on their goals and risk appetite."

"We are delighted to work with HSBC Indonesia, the leading international bank offering one of the largest wealth management services. Eastspring Investments Alpha Navigator equity fund is one of our key products and will help HSBC customers achieve their investment goals," said Mr Frindos

Eastspring Investments Alpha Navigator is an open-ended, equity fund designed to provide added value and lucrative long-term yields to investors. Alpha Navigator means actively navigating the market in search of added value (Alpha) for investors through concentrated stock picking and value investing.

"This fund has a high level of flexibility because it doesn’t invest in one economic sector or index segment. This equity fund focuses on ‘best ideas’ and uses investment opportunities from all sectors and companies of various sizes in order to deliver the most optimal investments results," Mr Frindos said.

"Our partnership with HSBC will expand our distribution network further and is part of our commitment to the development of the local mutual fund industry. Currently there are approximately 160,000 retail mutual fund investors in Indonesia, which has a population of around 250 million," explained Mr Frindos.

Speaking at the press conference, Mr Frindos said he was very optimistic about the prospects for the local mutual fund industry. According to OJK’s data, the total AUM (assets under management) of the Indonesian mutual fund industry increased by 2.64%, from IDR 187.59 trillion at the end of 2012 to IDR 192.54 trillion at the end of 2013, despite challenging financial market conditions.

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