Maybank Asset Mangement Expands To Indonesia, Strengthens On Ground Expertise In Asean
Acquisition of Jakarta based GMT Aset Manajemen another step towards becoming a true regional asset manager offering investors strong local presence in Asean with Asian focused investment expertise
Kuala Lumpur, 26 August 2013 – Maybank Asset Management Sdn. Bhd. ("Maybank AM"), a wholly owned subsidiary of Maybank Group through its holding entity, Maybank Asset Management Group Berhad has taken another major step towards becoming a key player in the asset management industry in Asean by 2017 by expanding its operations to Indonesia via the acquisition of an award winning local asset management player, PT GMT Aset Manajemen.
The expansion to Indonesia follows the Group"s initiative to solidify its asset management businesses under one roof which currently consist of Maybank Asset Management Sdn. Bhd. and Maybank Private Equity Sdn. Bhd. (formerly known as Mayban Ventures Sdn. Bhd.) in Malaysia, Maybank Asset Management Singapore Pte. Ltd. (formerly known as KE Capital Partners Pte. Ltd.) in Singapore and Maybank Asset Management Thailand Co. Ltd. (formerly known as Kim Eng Asset Management (Thailand) Co. Ltd.) in Thailand to allow greater focus, capitalise on economies of scale, achieve efficient collective work processes and to enhance Maybank's reach across the region. By having a strong network in Asean, Maybank Asset Management intends to be truly differentiated through its strong local presence and expertise in Asian focused investments. Chief Executive Officer and Managing Director of Maybank AM, Nor' Azamin Salleh said, "Indonesia being the region„s largest economy with Gross Domestic Product of USD 878 billion in 2012i, world's fourth most populous nation and one of the fastest growing countries in ASEAN with a rising middle class and affluent consumers are solid reasons to entering into this market. Despite the current volatile market condition, we are here for the long term as we are confident that Indonesia will continue to outperform due to its strong domestically focused economy". Azamin said that Indonesia was an obvious choice for expansion given the positive outlook on the sustainability and potential upside of its economy coupled with a foreseeable high demand for investment products. In addition, the company's strategic expansion to the republic is moving in line with that of parent company Maybank"s regional expansion strategy.
"Being part of Maybank enables us to tap into the Group's extensive distribution network and expertise in Asia. In addition, we are able to leverage on the goodwill and brand name of Maybank," Azamin said in a statement issued in conjunction with the signing ceremony to mark the acquisition of GMT in Jakarta today.
Azamin further elaborated that GMT was the ideal partner of choice as it has considerable potential. From a humble IDR39 billion in assets under management ("AUM") when it started operations in July 2002, GMT has managed to chart a double digit growth rate to an impressive IDR780.9 billion in AUM as at end of June 2013 operating out of its boutique size set up. To date, GMT has also won a total of seven (7) awards from Investor Magazine in Indonesia for both fixed income and equity categories out of which, its star performing fixed income fund has managed to garner best performing awards for four consecutive years. Azamin added that GMT"s strategic growth direction and working culture will easily be integrated with the way that Maybank Asset Management operates.
Azamin explained that Maybank AM"s expansion to Indonesia would serve as another excellent platform to build a foundation in ASEAN before moving on to other markets in Asia.
"Our strategy is to first build our foundation in ASEAN as we are familiar with its culture, business ethics and economy. Additionally, the formation of the ASEAN trading link platform would be an excellent conduit to tap the region's growth opportunities as it allows investors easy access to a wider investment selection across connected markets. We see the main drivers to be the burgeoning wealth in the region and new pools of assets from insurance and retirement funds".
"Our aim is to enhance our foothold in ASEAN and eventually Asia-wide. Eventually, investors will have access to our products and offerings through our in-house marketing team, Maybank branches, private banking centres and online medium.
All these put together means we are able to offer a strong value proposition to our investors through better accessibility, wider and improved product offerings managed by our team of people with on the ground firsthand knowledge in ASEAN coupled with our Asian focused investment expertise," he added.
About PT GMT Aset Manajemen
PT GMT Aset Manajemen ("GMT") is an investment management company that was incorporated in 2002 and licensed by Bapepam and LK. GMT manages investment portfolios for institutional clients and individuals through mutual funds and discretionary funds. As of 26 August 2013, Maybank Asset Management Sdn. Bhd. owns 99% of GMT"s shares.
From a humble IDR39 billion in assets under management ("AUM") when it started operations in 2002, GMT charted a double digit growth rate to manage a total of IDR701 billion in AUM as at end of July 2013. GMT currently manages eight (8) funds consisting of three (3) fixed income funds, two (2) balanced funds, one (1) equity fund, one (1) money market fund and one (1) protected fund.
- Reksa Dana GMT Dana Pasti 2
- Reksa Dana GMT Dana Obligasi Plus
- Reksa Dana GMT Dana Kencana
- Reksa Dana GMT Dana Fleksi
- Reksa Dana GMT Dana Unggulan
- Reksa Dana GMT Dana Ekuitas
- Reksa Dana GMT Dana Pasar Uang
- Reksa Dana Terproteksi GMT Dana Proteksi 1
- GMT Dana Pasti 2 – Best Fixed Income Mutual Fund 2013 by Investor Magazine (category 1 year and 3 years period with asset above IDR100 billion)
- GMT Dana Pasti 2 – Best Fixed Income Mutual Fund 2012 by Investor Magazine (category 3 years period with asset above IDR100 billion)
- GMT Dana Pasti 2 – Best Fixed Income Mutual Fund 2011 by Investor Magazine (category 1 year period with asset above IDR100 billion)
- GMT Dana Ekuitas – Best Equity Mutual Fund 2010 by Investor Magazine (category 1 year period with asset between IDR25-100 billion)
- GMT Dana Pasti 2 – Best Fixed Income Mutual Fund 2010 by Investor Magazine (category 1 year period with asset above IDR100 billion)
- GMT Dana Pasti was recognised as the best performing fixed income mutual fund 2004 by Investor Magazine and Warta Ekonomi
About Maybank Asset Management Sdn. Bhd.
Maybank Asset Management Sdn. Bhd. ("the Company") is a part of Malayan Banking Berhad's ("Maybank") asset management business ("Maybank Asset Management" or "Maybank AM") that has regional footprint and on-the-ground presence in key markets of the region – Malaysia, Singapore, Thailand and Indonesia. The Company is a wholly-owned subsidiary of Maybank through Maybank Asset Management Group Berhad (formerly known as Aseamlease Berhad).
The Company has experience managing a diverse range of investments from equity, fixed income to money market instruments mainly on behalf of and for corporations, institutions, insurance and takaful companies and individual clients. In addition to that, the Company also offers unit trust and wholesale funds. As at 31 July 2013, the Company"s total asset under management stood at MYR10.9 billion.
In line with Maybank"s regional business direction, Maybank AM aspires to become a leader in ASEAN by 2017 through its strong local presence and focused Asian expertise.
i Sourced from World Bank‟s Annual Report of Indonesia 2012
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