Mutual Fund Insight - Ashmore Asset Management Indonesia
Insight from Ashmore Asset Management Indonesia upon their mutual fund products for Q3-2024
Fund Manager, 3rd Party Partner23 Oct 2024
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Ashmore Dana Ekuitas Nusantara

Throughout Q3 2024, Ashmore Dana Ekuitas Nusantara (ADEN) posted a performance of 6.58%, outperforming its benchmark, the Jakarta Composite Index (JCI) which rose by 6.57% during the same period. ADEN's outperformance was driven by OW allocation in the Property sector, which rose by 34.10% in Q3 2024.

 

Ashmore Dana Obligasi Nusantara

Throughout Q3 2024, Ashmore Dana Obligasi Nusantara (ADON) posted a performance of -4.79%, outperfomring its benchmark 80% IBPA which rose by 3.50%. ADON's outperformance was due to the overall strengthening trend of the bond market. This can be seen from a decrease in UST 10-year bond yields of around 62 bps from 4.40% in end Jun24 to 3.78% in end Sep24. Indonesia bond market was also facing a similar situation where Indonesia 10yr government bond yield also fell by 62 bps from 7.07% in end of Jun24 to 6.45% in end of Sep24.

ADON has OW duration strategy relative to the benchmark.

 

Ashmore Dana Obligasi Unggulan Nusantara

During Q3 2024, Ashmore Dana Obligasi Unggulan Nusantara (ADOUN) posted a performance of 2.96%, outperforming its benchmark IDR Time Deposit 1M (Net) which rose by 0.82%. ADOUN's outperformance was due to the overall strengthening trend of the bond market. This can be seen from a decrease in UST 5-year bond yields of around 82 bps from 4.38% in end Jun24 to 3.56% in end Sep24. Indonesia bond market was also facing similar situation where Indonesia 5yr government bond yield which is the main underlying portfolio of ADOUN also fell by 78 bps from 6.97% in end of Jun24 to 6.19% in end of Sep24.

ADOUN has OW duration strategy relative to the benchmark.

 

Ashmore Dana Progresif Nusantara

Throughout Q3 2024, Ashmore Dana Progresif Nusantara (ADPN) posted a performance of 6.46%, underperforming its benchmark, the Jakarta Composite Index (JCI) which rose by 6.57% during the same period. ADPN's underperformance was driven by UW allocation in the Energy sector, which rose by 16.83% in Q3 2024.

 

Ashmore Digital Equity Sustainable Fund

Throughout Q3 2024, Ashmore Digital Equity Sustainable Fund (ADESF) posted a performance of 8.29%, outperforming its benchmark IDX ESG Leaders Index (IDXESGL) which rose by 5.77% in the same period. ADESF's Outperformance was driven by UW allocation in the Financial sector, which grew by 11.45% in Q3 2024.

 

Ashmore Dana Pasa Uang Nusantara

Throughout Q3 2024, Ashmore Dana Pasar Uang Nusantara (ADPUN) posted a performance of 1.42%, underperforming its benchmark JIBOR Overnight Index which rose by 1.58%. This underperformance was due to the decrease in 1 year Indonesia government bond yield by around 53 bps in Q3 2024 period.


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PT Bank DBS Indonesia (“DBSI”) is licensed and supervised by the Indonesia Financial Services Authority (OJK) and a member of the Indonesia Deposit Insurance Corporation (LPS). This publication is not and does not constitute or form part of any offer, recommendation, invitation or solicitation to you to subscribe to or to enter into any transaction as described, nor is it calculated to invite or permit the making of offers to the public to subscribe to or enter into any transaction for cash or other consideration and should not be viewed as such.