BNP Paribas targets US$20 million asset
Thursday, 19/08/2010 19:59:19 WIB
by: Ratna Ariyanti
JAKARTA: The total asset under management of BNP Paribas Prima USD, a mutual fund product, now reaches US$7 million. The year-end target is to reach US$15 million-US$20 million.
Fixed income mutual funds launched by PT BNP Paribas Investment Partners on 9 August 2010 invest in government and corporate bonds in US dollar.
Head of Sales & Marketing BNP Paribas Investment Partners Vivian Secakusuma said that corporate bond issued in domestic market must obtain A- rating while corporate bond to be issued in overseas market must obtain BBB- rating.
"Indonesia's high bond yield is still interesting for investors as the spread between US$ government bond and US$ deposit is quite high," she explained today.
Meanwhile, continued Vivian, low global interest rates also make the sovereign bond in US dollar interesting among investors.
Besides, the Indonesia's credit rating upgrade to investment grade is another factor which makes the Indonesia's sovereign bond the most-interested instrument. (NOM)