Thursday, September 19

PHEIM eyes up to 12 pct return in next 5 years

0

Lim (middle) mixing the yee sang during Pheim Asset Management 25th Anniversary Celebration yesterday. Also present is Tan (fifth right). — Bernama photo

KUALA LUMPUR: Pheim Asset Management Sdn Bhd aims to deliver between eight and 12 per cent in returns over the next five years, said founder and executive chairman Dr Tan Chong Koay.

He said the asset management firm was looking at investments in equity houses, technology and semi-conductor sectors in Asean and Asia excluding Japan.

“We hope to do better (than what we have right now.

“We are bullish on the semi-conductor sector (because) that’s the future and we cannot deny it,” he told press conference after the company’s 25th anniversary celebration which was officiated by Finance Minister Lim Guan Eng.

Pheim’s asset under management (AUM) currently amounted to about RM1 billion.

Tan said the company targeted to expand its AUM by between 10 and 15 per cent in 2019 given the improved market outlook.

He believed the local equity market would be better this year, given the positive sentiment expected from the trade deal to be clinched between the United States and China.

Tan suggested that investors buy shares, especially small and medium capitalisation stocks of companies with reasonable business outlook. — Bernama