INDONESIA: Samuel Aset Manajemen (SAM) is planning to launch an Islamic mutual fund in the first quarter of 2012, according to Agus B Yanuar, its president director.

He explained that the fund’s portfolio will not be limited to the stocks listed on the Jakarta Islamic Index but also Shariah compliant stocks in the telecommunication and consumer sectors that are included in the list of Shariah compliant securities issued by Indonesia’s capital market supervisory agency, Bapepam.

The president director expects the soon-to-be launched fund to be able to realize annual returns of 30% despite slow global economic growth.

SAM currently manages a Shariah compliant balanced fund, SAM Syariah Berimbang, and a fixed income fund, SAM Syariah Sukuk Sejahtera.