KUALA LUMPUR, April 8 — Affin Hwang Asset Management Bhd, which opened its eighth sales office in Petaling Jaya today, aims to grow its asset under management (AUM) to RM50 billion by 2018.

As of March 31, 2015, the company’s total AUM, comprising in-house unit trust funds as well as corporate and discretionary portfolios, stood at about RM31.2 billion.

“Our key focus is to continuously place clients at the forefront of our business objective by delivering consistent positive total returns to all our investors,” said its managing director, Teng Chee Wai, in a statement here.

Affin Hwang AM has a flagship mixed asset fund – Affin Hwang Select Income Fund (SIF).

According to Lipper, SIF has delivered 122.39 per cent since its inception.

He said the new sales office was set up as part of the company’s long-term network expansion planning to meet the increasing demand for asset and wealth management products and services, especially from the mass affluent to the high net worth individuals.

“Our aim is to further reach out to meet the needs of the mass affluent and high net worth segment of clients that are seeking to grow their wealth and build their retirement funds leveraging on our asset management capabilities,” Teng said.

To-date, the company manages over 550 private mandates – individuals and corporates – and has a stable of 73 funds, of which 40 are unit trust funds and 33 are wholesale funds.

Additionally, the company also offers four private retirement schemes funds to cater to individual retirement needs. — Bernama