PNM Investment ends discretionary settlement

JAKARTA: PT PNM Investment Management has completed restructuring and settling discretionary fund as much as IDR1.4 trillion.We have just completed it, though the target is by the end of the year, Associate Director PNM Investment Grace Wiragesang told
Wandrik Panca Adiguna | 06 Desember 2010 01:32 WIB

JAKARTA: PT PNM Investment Management has completed restructuring and settling discretionary fund as much as IDR1.4 trillion.We have just completed it, though the target is by the end of the year, Associate Director PNM Investment Grace Wiragesang told Bisnis today.She said that the target could be completed early because several contracts have been settled early and some chose the underlying asset of the fund, in the form of shares.She added that the corporate discretionary fund was marketed by ABN Amro Bank but then it was taken over by a Dutch bank, Royal Bank of Scotland.The recently settled product, as she continued, originated from three series of discretionary funds. According to her, before the settlement, the discretionary funds consist of tens of series.Restructuring was done since the underlying asset, in the form of shares of several Bakrie Group companies, plunged in 2008. PT Bakrie Capital Indonesia (BCI) then managed the corporate discretionary funds.Grace also added several investors that finally decided to draw the underlying asset were grateful because the value of the claimed stocks has increased. (t04/wiw)

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