Franklin Templeton has partnered with PT Bahana TCW Investment Management to launch a fund in Indonesia for the first time.
Distributed by Bank DBS Indonesia, the Bahana US Opportunity Sharia Equity USD fund has been designed to align with Shariah principles.
It is the first Shariah-compliant mutual fund in Indonesia that focuses on investing in companies largely based in the United States with technology, healthcare, financials and consumer discretionary forming the key sectors in the portfolio. It is actively managed using environmental, social and governance (ESG) investing principles.
Dora Seow, regional head for Southeast Asia (ex-Malaysia) at Franklin Templeton, said: "We are delighted to offer Franklin Templeton's investment expertise in Indonesia for the very first time. Our collaboration with Bahana TCW to launch a new mutual fund for Indonesian investors will feature our best-in-class US growth strategy with positive ESG attributes.
The strategy has consistently outperformed the benchmark Russell 3000 Index in the medium to long term, making it a great diversification option for Bank DBS Indonesian investors. This launch provides a strong foundation for us to establish a competitive advantage in the hugely important Indonesian market, and we look forward to expanding our product offering for clients in Indonesia."
