24 Jun 2020
Jakarta, 24 June 2020 – The Greater China market (China PRC, Hong Kong and Taiwan) offers an interesting long-term investment opportunity. According to the IMF (World Economic Outlook, April 2020), the China economy has grown at an average annual 7% growth rate, well above the average annual global growth rate of 3%. For the first quarter of 2020, China was the only country that achieved positive growth, while the rest of the world hit negative growth due to the COVID-19 pandemic. In October 2019, the International Monetary Fund: World Economic Outlook stated that China would continue to play a major role in world economic growth, and also lead the technology sector in the longer term. With the largest population in the world, growth potential of domestic consumption and the growing middle class are expected to provide interesting investment opportunities in this country.
For Indonesian investors, investment options in Greater China are limited, and there is a lack of awareness about the investment potential of this market. In response to growing client demand, Eastspring Investments is pleased to launch the Eastspring Sharia Greater China Equity USD mutual fund from PT Eastspring Investments Indonesia ("Eastspring Indonesia"). This mutual fund provides local investors with access to one of the world’s rapidly growing economies and is designed to fulfill growing investor interest in China’s equity market according to sharia principles. Eastspring Indonesia, one of the largest asset managers in Indonesia, is working with Standard Chartered Bank Indonesia ("Bank") to offer this fund to bank clients until September 2020. The Fund will be open to the public from 1 October 2020.
Since the offer opened on 15 June 2020, the Eastspring Shariah Greater China Equity USD mutual fund has received a positive response from Bank customers and has assets under management of USD1.9 million (as of 22 June 2020).
"We are delighted to have had the opportunity to partner with Standard Chartered Bank Indonesia. Through this cooperation, we expect our fund, the Eastspring Sharia Greater China Equity USD fund, to meet the investment needs of the bank’s priority banking clients," said Alan Tangkas Darmawan, Chief Executive Officer, PT Eastspring Investments Indonesia.
"We are very happy to further develop and cement our long-term partnership with Eastspring. The launch of the Eastspring Sharia Greater China Equity USD is the first mutual fund product we have offered that invests in the Greater China region. This fund is also in line with Standard Chartered Bank Indonesia’s focus on providing a variety of new investment product options for our clients," said Andrew Chia, Chief Executive Officer, Standard Chartered Bank Indonesia.
The product is a sharia mutual fund that offers investors access to the investment potential of the Greater China market. By investing in this fund, investors can also diversify their portfolio in a market previously unavailable in Indonesia.
Accessed by Bank clients, anywhere and anytime through Mutual Fund Online Module (OMF) in the Standard Chartered Online Banking and SC Mobile application.
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