CIMB Niaga collaborates with Principal Indonesia to launch Reksa Dana Syariah Principal Islamic ASEAN Equity Syariah (USD)

CIMB Niaga collaborates with Principal Indonesia to launch Reksa Dana Syariah Principal Islamic ASEAN Equity Syariah (USD)

Jakarta, 6 May 2024 . To enrich the variety of investment products for customers, especially for equity fund in USD, PT Bank CIMB Niaga Tbk (CIMB Niaga) collaborates with PT Principal Asset Management (Principal Indonesia) to launch Reksa Dana Syariah Principal Islamic ASEAN Equity Syariah (USD). This product is the first offshore Syariah equity fund in USD denomination that focuses on investment in ASEAN region (except Philippines *). This product has an objective to gain capital growth in the medium to long term through investment in equity Syariah securities that is compliant with Syariah principles in the capital market, using USD denomination.

Ariteguh Arief, Head of Preferred, Wealth and Insurance Business of CIMB Niaga stated, "CIMB Niaga is committed to focusing on providing the best, one stop financial solution service for our customers, and becoming the most complete provider of investment products for the customers. In the newest collaboration, we are collaborating with Principal Indonesia (PT Principal Asset Management) to present Reksa Dana Saham Syariah USD that focuses on investment in ASEAN region. We hope that this product could complement and optimize the diversification of investment options for our customers. We also hope that this partnership can evolve and give an optimum benefit for our nationwide customers."

The presence of a Syariah equity fund in USD that focuses on investment in ASEAN region is very relevant with ASEAN’s significant position in the global investment landscape. ASEAN region is collectively the fifth largest economy in the world based on a combined GDP of more than USD 3 trillion and projected to be the world’s fourth largest economic area by 2050. Besides that, ASEAN region has a population of more than 650 million and gains positive economic performance over the past decade with an average growth rate of 4%-5%.

ASEAN owns several factors that could be considered by investors such as: ASEAN’s role as a highly developed manufacturing hub to China and coupled with abundant natural resources and tourism potential. This is also supported with the potential economic growth that will be increased along with The Master Plan on ASEAN Connectivity 2025 (MPAC). These factors making ASEAN emerges as a favorable investment destination and encourage CIMB Niaga & Principal Indonesia to present Reksa Dana Syariah Principal Islamic ASEAN Equity Syariah (USD) as an investment product option for the customers.

This product is managed by Principal Indonesia (PT Principal Asset Management), a part of Principal Financial Group® (PFG). PFG is a member of the FORTUNE 500® & a Nasdaq-listed global financial services, with CIMB Group Holdings Berhad, one of Southeast Asia’s leading universal banking groups. This product is managed by experienced and professional investment team, with optimum return and dedicated to investors with aggressive risk profile. Customers could easily subscribe to this product through all CIMB Niaga branch offices, OCTO Mobile digital banking app and OCTO Clicks internet banking platform. Customers could experience the simplicity and comfort during transaction with easy steps to register mutual fund transaction, user friendly digital banking services and comprehensive features such as cashflow review, mutual fund options comparison and appealing promotions such as free subscription fee.

“CIMB Niaga has been our long-time partner for the last 15 years and CIMB Group Holdings Berhad has become the regional partner of Principal Indonesia as well. With their reputation as a part of the leading banking group in Southeast Asia and the leading provider of wealth management solutions in Indonesia, we are pleased to partner with them to distribute our flagship offshore mutual fund product, Reksa Dana Syariah Principal Islamic ASEAN Equity Syariah (USD)," said Naresh Krishnan, President Director of Principal Indonesia.

The collaboration between Bank CIMB Niaga and Principal Indonesia is expected to increase the trust and satisfaction from the customers of Bank CIMB Niaga to invest in offshore equity fund that is available at Bank CIMB Niaga. Through this product, customers could expand their investment options and portfolio diversification to offshore equity fund using USD denomination and investment focus in ASEAN region.

*Referring to OJK regulation on Sharia Offshore Fund, the fund could not invest in Philippines, as the country doesn’t become the full signatory to the IOSCO MMoU.

 

About CIMB Niaga
CIMB Niaga was established as Bank Niaga in 1955. CIMB Group holds around 92.5% stake in CIMB Niaga (including PT Commerce Kapital 1.02%). The Bank offers a comprehensive suite of both conventional and Islamic banking products and services, including Consumer Banking, Emerging Business Banking (EBB)/Small Medium Enterprise (SME), Commercial Banking, and Corporate Banking supported by Treasury and Capital Market capabilities, as well as leading digital banking through OCTO Mobile, OCTO Clicks, OCTO Pay (e-money), BizChannel@CIMB, and BizChannel@CIMB Mobile. Carrying the brand promise of Kejar Mimpi (Pursuit of Dreams), CIMB Niaga is committed to be the best partner and Bank of Choice for all segments to support them in realizing their dreams.

As a bank who is committed to provide a sustainable earth for future generations, CIMB Niaga consistently implements sustainability in running its business through synergizing environmental, economic, social and governance aspects into the banking process. With the Bank’s campaign Anda #YangUtama (#YouMatter), CIMB Niaga continues to provide the best service for customers. As of 31 March 2024, the Bank is supported by 12,000 employees (consolidated), 407 branch & networks (including 37 digital lounges), 3,844 ATMs, as well as 670,441 EDC, QR and E-Commerce terminals spread across various cities in Indonesia.

CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately USD 15,0 billion as of 31 March 2024. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in eight ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia,Vietnam, Myanmar, and Philippines). Beyond ASEAN, the Group has market presence in China, Hong Kong, and UK.

 

About Principal Financial Group®
Principal Financial Group® (Nasdaq: PFG) is a global financial company with nearly 20,000 employees [1] passionate about improving the wealth and well-being of people and businesses. In business for more than 140 years, we’re helping approximately 62 million customers [1] plan, protect, invest, and retire, while working to support the communities we do business, and build a diverse, inclusive workforce. Principal® is proud to be recognized as one of the 2023 World’s Most Ethical Companies ® by Ethisphere [2], a member of the Bloomberg Gender Equality Index, and a “Best Places to Work in Money Management [3].” Learn more about Principal and our commitment to building a better future at principal.com.


[1]Per 31 Dec 2023
[2]Ethisphere, 2024
[3]Pensions & Investments, 2023

 

About Principal Indonesia (PT Principal Asset Management)
Principal Indonesia (PT Principal Asset Management -formerly known as PT CIMB-Principal Asset Management), is a joint venture between Principal Financial Group®, a member of the FORTUNE 500® and a Nasdaq-listed global financial services and CIMB Group Holdings Berhad, one of Southeast Asia’s leading universal banking groups. Acquiring PT Niaga Asset Management on 12 December 2007, Principal Asset Management Berhad is headquartered in Malaysia and has footprint across Indonesia, Thailand, and Singapore. The company serves over 32.000 investors in Indonesia and has IDR 3.825 trillion in Asset Under Management as of 29 December 2023. We offer a wide variety of solutions to help people and companies in building, protecting, and advancing their financial well-being with our discretionary mandates and asset management expertise. With innovative ideas and real-life solutions, the company helps achieving financial progress towards a more secure financial future possible for clients of all income and portfolio sizes.

PT Principal Asset Management has obtained a business license from Financial Services Authority (OJK) as an Investment Manager based on the Decree of the Chairman of BAPEPAM Number: KEP-05 / PM / MI / 1997 dated May 7, 1997. To know more about Principal Indonesia, visit our website: www.principal.co.id