Mandiri Investasi, the asset management arm of Indonesia’s Bank Mandiri, is launching an overseas push with a goal of 20% of total assets under management coming from foreign sources within five years. It currently manages around $2.1 billion, mostly from Indonesian sources, but wants to attract more outsiders looking to invest in Indonesia’s growing economy.

The bank recently obtained a license to sell its investment products in Singapore and is looking to triple its distribution network there by mid 2011, possibly in partnership with local institutions. It is also looking at opportunities in Malaysia, Hong Kong and Thailand, and has received interest from investors as far away as Europe.

Mandiri currently offers money market funds, mutual funds and bond funds targeted at wealthy clients. It would also like to offer a private equity fund to give clients the chance to invest in unlisted Indonesian companies.

source & article: Channel NewsAsia