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INVESTMENT BANKING | Tony Chua, Australia

Bank Mandiri’s investment arm taps Australian market

Mandiri Manajemen Investasi’s ties up with AFM Investment Partners to open Indonesia's stock market and bond market to Australians.

PT Mandiri Manajemen Investasi, the investment arm of Indonesia's biggest lender by assets, Bank Mandiri, Monday said it formed a partnership with AFM Investment Partners to tap Australian institutional investors.

Mandiri Investasi is seeking to boost its assets under management from Australian investors to IDR1.7 trillion ($199 million) within the next 12 months, it said in a statement.

"Mandiri Investasi and AFM will cooperate in targeting Australian institutions interested in investing in Indonesia's stock market and bond market," John Donovan, the managing director of Melbourne-based AFM Investment Partners, said in the statement.

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