ATR Kim Eng invests in fund that expands its product line

Listed investment house ATR Kim Eng Financial Corp. on Wednesday announced that its subsidiary has invested in a fund that will broaden the listed company’s product line. ATR Kim Eng told the Philippine Stock Exchange (PSE) on Wednesday that ATR KimEng Capital Partners Inc. has approved an investment of up to P50 million in the DWS Deutsche Philippine Equity Fund inc. (DWS EQuity) and up to P25 million in DWS Deutsche Philippine Fixed-Income Fund Inc. (DWS Fixed Income) as part of a Transition Management Agreement (TMA) entered into among ATRKE Capital, DWS Equity, DWS Fixed-Income and Deutsche Bank AG-Manila Branch. Under the TMA and upon securing regulatory approval, the management of DWS Equity Fund and DWS Fixed-Income Fund will be transferred from Deutsche Manila to The Mutual Fund Management Company of the Philippines Inc, a subsidiary of ATRKE Capital and part of the ATR KimEng Asset Management Group. "This transaction is part of ATR KimEng Asset Management's plan to broaden its product range in order to provide its clients with greater access to new asset classes and market," said Manuel Tordesillas, ATRKE Financial and ATRKE Capital president. It also comes closely on the heels of ATRKE Capital's reorganization of its asset management business into ATR KimEng Asset Management Group headed by Michael Ferrer. "We intend to relaunch these two funds into new portfolios that can take full advantage of the opportunities that emerge as the global economy recovers, while carefully managing the risks inherent in investing," Ferrer said. - GMANews.TV