Maybank Asset Management Group (MAMG) to increase AUM to US$50 million in 2 years

KUALA LUMPUR: Maybank Asset Management Group (MAMG) expects to increase its assets under management (AUM) by US$30 million-US$50 million (US$1=RM4.19) in the next two years with the roll-out of two new products co-developed with Schroder Investment Management (Singapore) Ltd.

MAMG today inked a memorandum of understanding (MoU) for a long-term strategic partnership with Schroder Singapore to co-develop a range of specialist investment solutions targeting Malaysia’s wealth market.

To kick start this collaboration, two discretionary portfolios – Global High Dividend Equity Portfolio and Global High Conviction Portfolio – were launched.

MAMG Chief Executive Officer Badrul Hisham Abu Bakar said as at September this year, MAMG’s AUM stood RM33.7 billion in its local and Asian focussed portfolio which included equity, fixed income and money market instruments.

“We will be leveraging Maybank’s private banking customers as the two products targeted high-net-worth (clients).

“As the investment sentiment is currently generally quite weak, we would be happy if we could raise US$30 million-US$50 million in 24 months, as once sentiment improved, we are going to see better response for this kind of product,” he said.

For the January-December period this year, the minimum amount to be invested in this two portfolios is RM3 million and it would be increased to RM5 million thereafter, said Badrul Hisham.

On the collaboration with Schroder, he said it would draw on the strength of both the regional footprint of MAMG, an established Malaysian asset manager, and the investment expertise of Schroder, a leading global asset manager.

“MAMG has over 30 years of investment experience serving clients in Malaysia and the wider ASEAN region, helping them to tap market opportunities.

“We recognise the growing demand for sophisticated, outcome-oriented global investment solutions, particularly among high-net-worth community and this tie-up with Schroder was strategised to cater for this need, he added.

Meanwhile, Schroder Singapore CEO Susan Soh said as part of the continuing partnership, both companies would undertake further collaboration projects to co-develop solutions across other asset classes, including Shariah-compliant investment and private assets.

“We believe our ability to combine the key tenets of asset management and wealth management offers differentiated value proposition to MAMG Malaysians clients, ” she said.

Badrul Hisham said at least three more products would be available under this collaboration in financial year 2019 with Shariah-compliant investment expected to be available by third quarter of next year.

Source: NST