PT BNP Paribas Asset Management and PT Bank DBS Indonesia launch the first global technology mutual fund | Bahasa
DBS Treasures collaborates with BNP Paribas AM to present the BNP Paribas DJIM Global Technology Titans 50 Syariah USD.
The thematic investment solution is an initiative of PT BNP Paribas AM to tap into investors’ growing interest in the “new economy” that is gaining in popularity. BNP Paribas DJIM GT Titans 50S USD is also the first Sharia Global Index Mutual Fund that is compliant with Shariah principles with full exposure to the shares of global technology companies.
The COVID-19 pandemic has opened up opportunities for technology companies to grow rapidly. People around the world are increasingly reliant on technology to support their daily activities, driving innovations to further support progress in the sector.
This behavioral change has triggered the emergence of the new economy that diverts investors' attention from the traditional sector, and drives the growth of technology stocks rapidly and globally. S&P Dow Jones Indices shows the annualized performance of its conventional technology index, the Dow Jones Global Technology Index, exceeding 28% for the last 5 years as of August 31, 2021[2]. The figure illustrates the sector's recent strong growth.
BNP Paribas DJIM GT Titans 50S USD focuses on industries that make up the technology sector that are considered the backbone of the new economy, including internet & social media, software, computer hardware, office equipment, semiconductors, and communication equipment industries. These industries make up the constituents of the Dow Jones Islamic Market (DJIM) Global Technology Titans 50 Index, the reference index for the BNP Paribas DJIM GT Titans 50S USD. In this collaboration, DBS Treasures is the first Mutual Fund Selling Agent to distribute the product in Indonesia, giving customers enriched choices of investment solutions as part of intuitive wealth management that takes notice of the latest opportunities to help customers make good and timely decisions.
Djoko Soelistyo, Head of Investment Product & Advisory, Bank DBS Indonesia, said, “DBS Treasures is always proactive in meeting the financial needs of its customers in accordance with the latest market conditions. Therefore, we see this product as one of the reliable solutions to maximize opportunities in the new economy sector in the global market. This opportunity is also open 24/7 because it is available on the digibank by DBS Application that allows investment flexibility and freedom in developing portfolios. Customers can enjoy the convenience of Single Investor Identity (SID) registration, buying, selling, and switching online from anywhere and anytime.”
Priyo Santoso, President Director, PT BNP Paribas AM, said, “We present BNP Paribas DJIM GT Titans 50S USD to answer the needs of investors who seek greater exposure in the technology sector. The use of the index mutual fund concept aims to provide investors with a good and objective representation of fast-growing technology companies around the world, and automatically provides diversification as well as transparency, which are the characteristics of the index mutual fund concept. The application of sharia principles is an added value in stock screening, thereby protecting investors from companies with excessively high debt levels that often exist in this sector.”
BNP Paribas DJIM GT Titans 50S USD aims to replicate the Dow Jones Islamic Market Global Technology Titan 50 Index issued by leading global index provider S&P Dow Jones Indices. The index contains 50 stocks of global technology-related companies, and is divided into two big themes, namely Software & Computer Services and Hardware & Technology Equipment. Company screening is carried out by considering business activities and financial ratios, thus ensuring compliance with Sharia principles without ignoring the opportunities for innovation and growth.
The launch of BNP Paribas DJIM GT Titans 50S USD in collaboration with Bank DBS Indonesia as the first distributor confirms the commitment of both parties to providing solutions for investors in an ever-changing era and aims to continuously provide innovative investment solutions. Earlier in May, PT BNP Paribas AM and Bank DBS Indonesia launched the first index mutual fund that replicates the IDX Growth30 Index, namely the BNP Paribas IDX Growth30 Index Mutual Fund that captures opportunities for 30 stocks with good growth.
PT BNP Paribas AM and Bank DBS Indonesia believe that BNP Paribas DJIM GT Titans 50S USD will not only provide attractive diversification, but can also be the first step for Indonesian investors to participate in the new world economy.
[END]
About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World's Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 12 consecutive years from 2009 to 2020.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
[1] Based on the list of registered mutual fund products at reksadana.ojk.go.id as of August 2021
[2] Source: S&P DJI & PT. BNP Paribas AM, as of August 2021
