TheStar
KUALA LUMPUR: ASM Investment Services Bhd wants to be a leading player and a preferred investment management company locally and in South-East Asia by 2012, said chief executive officer Izaddeen Daud.
Speaking at the launch of ASM Global Diversified Structured Fund (GDSF) yesterday, he said the company would actively introduce more customised products that were in line with investors' demand and needs.
He said ASM Investment was now ready to provide more innovative products with advisory services to current and future investors.
“Our target are institutional investors, notably government-linked companies (GLCs) and co-operatives,” Izaddeen said.
ASM Investment Services Bhd CEO izaddeeen Daud (second from right) at the launch of ASM Global Diversified Structured Fund in Kuala Lumpur on Monday. With him are company chairman Datuk Zamani Md Noor (left), ASM group chairman Datuk Seri Abdul Aziz Raja Salim (right) and Deputy Finance Minister Datuk Dr Ng Yen Yen (second from left)
He said efforts would be made to woo more GLCs to subscribe to its funds, including the ASM GDSF.Institutional investors would eventually account for 80% of the company's subscriber base, he said. Other subscribers to the company's funds are retail investors.
As at July 31, ASM Investment managed 15 unit trust and third-party funds valued at more than RM500mil.
Izaddeen said ASM Investment had seen brisk sales of 100 million units of ASM GDSF worth RM50mil since it was made available for subscription last Thursday. It has a total fund size of 500 million 50 sen units.
“We are optimistic the remaining units will be fully subscribed before the closing period on Oct 6,” he said.
The closed-end structured fund will invest in a structured product issued by Deutsche Bank (M) Bhd that will provide investors capital protection upon reaching maturity in three years.
The fund will be invested equally in three different asset classes – real estate investment trust, commodity and equity – and is slated to provide 7% to 8% in annual returns.
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