JAKARTA: Mutual fund industry booked the highest record of asset under management (AUM) at IDR157.05 trillion in the first half of 2011 or soared by 9.81% compared to the early this year.Such rise is in line with the escalating investment interest on that particular portfolio.The growth of such asset under management reflects investors better comprehension of the current market dynamic, said PT Mandiri Manajemen Investasi President Director Abiprayadi Riyanto.The asset under management of mutual funds has booked a record during the first six months this year. The AUM has raised four folds since 2005. It reflects our significant market potential, said Abiprayadi amidst the signing agreement between Mandiri Investasi and Commonwealth Bank Indonesia yesterday.Abiprayadi, serving also as Head of Indonesia Mutual Fund Industry Association (APRDI) said that equity fund is still dominant as it contributed 35.64% to the total AUM, reaching IDR55.98 trillion.According to him such positive accomplishment reflects the investors comprehension with longer term horizon. There is a shift where most investors already have long term comprehension, different from it was used to be, he said.Based on the recent data of Capital Market and Financial Institution Watchdog (Bapepam-LK) in the first semester of, the AUM or net asset values of mutual funds rose since early this year, amounting to 85.40 billion units and 632 products. In 2005, the AUM was only IDR29.40 trillion.Of the total gross asset value, equity funds gave 35.64% contribution, tailed by protected mutual funds with IDR42.79 trillion or 27.24%, fixed mutual funds with IDR24.93 trillion or 15.87% and discretionary funds with IDR21.29 trillion or 13.55%.The remaining contributors are index mutual funds, Sharia, money market and exchange traded fund (ETF).On the different occasion, PT Trimegah Asset Management President Director Denny R Thaher said that mutual funds investment is rather long term or above five years.Such asset growth strongly relates to the domination of equity funds that indicates investment pattern based on long term principle.Yet, the biggest challenge is how the stakeholder of mutual funds is able to raise the number of investor and new distribution channel.Targeted asset management fundOn such occasion, Mandiri Investasi also expects to raise IDR500 billion managed fund from the mutual funds of Mandiri Investa Ekuitas Dinamis (MIED).Mandiri Investasi will be assisted by selling agent, Commonwealth Bank Indonesia.As per June 2011, MEID recorded IDR166.08 billion managed fund. MEID was first launched in March.Director of Banking Retail and Business at Commonwealth Bank, Ian Whitehead said that the company seeks to sell IDR300 billion MEID to retail customer this year.This particular product focuses on stocks with medium and small capitalization, excluding 20 large capitalization stocks, said Mandiri Investasi Sale Director Wendy Isnandar.Further, Bank Commonwealth recorded IDR7.2 trillion total sales of wealth management, derived from 50 mutual funds product that were issued by 11 investment manager as per March this year.With bancassurance, the total fund managed by the subsidiary of Commonwealth Bank of Australia was IDR10.2 trillion compared to the year earlier at IDR9.5 trillion.Such accomplishment triggers 15% growth of investment product this year, compared to last year at IDR7 trillion.So far, the company has received several offer to serve as selling agent from several investment manager company, said Chief of Wealth Management Services at Commonwealth Bank Liliawaty Gunawan.Nevertheless, Commonwealth Bank as one of the most active mutual fund selling agent is yet to plan another partnership with other investment manager. (t02/msw)

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