Affin Fund targets 50% asset growth this year

The Malaysian firm is pitching for more institutional mandates and hopes to benefit from money contributed to the state-run Employees Provident Fund being shifted into unit trusts.

Affin Fund Management may be a relatively small asset manager, but it has substantial ambitions for growth. The Kuala Lumpur-based firm, a subsidiary of Affin Investment Bank, aims to hit RM1 billion ($300 million) in assets under management this year, up from the current level of RM700 million.

Chief executive Mohamad Ayob says the quickest way of attaining that target would be to secure several fixed-income mandates that were submitted for consideration to institutional investors last year.

"Once we cross that billion-ringgit mark, the next numbers will come more ...