RHB Asset Management Sdn Bhd (RHBAM) is targeting to grow its asset under management (AUM) to RM58 billion by the end of this year, from the current RM48.6 billion.
The company which is the asset management arm of RHB Banking Group is confident of achieving its target by leveraging on the group's existing presence across nine Asian countries, the positive sentiment into equity segments and the launching of 41 new funds.
"We are confident of achieving this target as we will be launching 16 new funds for the Malaysian market and 25 more through our Asian presence," said its chief executive officer Ho Seng Yee.
"We have also seen an increase of investor appetite into equities this year, despite ongoing market volatility and the depreciating ringgit."
RHBAM has 140 funds under management as of 2014 year-end.
Malaysia alone has 120 funds in its portfolio thus contributing up to 85 per cent of the total AUM.
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