PT Bank DBS Indonesia (DBS) has awarded as Best Performance in Custodian Bank by the Indonesia Top Performing Mutual Fund & Consumer Choice Awards 2017, at Le Meridien Hotel (8/5). The award is another manifestation of DBS's performance appreciation as a Custodian Bank in administering mutual fund assets. Organized by Warta Ekonomi, this award is an appreciation for mutual funds, investment management firms, and well performing Custodian Banks.
Iwan Rusli, Head of Global Transaction Services, Bank DBS Indonesia, said, "This award is become our motivation to constantly grow and become a growth partner for our community and customers. DBS always committed to deliver the best range of banking solutions including comprehensive products and services such as Securities & Fiduciary Services (Custodian Bank), Trade Finance and Cash Management to meet the diverse needs of both corporate and non-bank financial institutions. Our key of growth is our strong innovation and connectivity throughout Asia, thus we can provide a highly added value to our customers."
To determine the winner, Warta Ekonomi research team conducted a comprehensive analysis by collecting 1,600 mutual fund data that has been registered and operating in Indonesia. This research not only generate the numbers and level of performance from investment managers or mutual funds within the last 5 years but also generate Custodian Bank as supporting institution that has performed its best practice in administering mutual fund assets.
This is not only shows the role of assessment in mutual fund performance within the investment manager company but also the role of custodian bank that, nowadays has effected investor awareness in selecting the potential mutual fund to save the funds.
This award successfully demonstrates our performance and hard work during 2016, where the Custodian Bank business unit at Bank DBS Indonesia has succeeded to increase 52% revenue and gained total managed fund growth of 148% compare to the previous year. This achievement triggered us to produce better performance in the upcoming years", added Iwan.