MANILA - A unit of listed financial services firm ATR KimEng Financial Corp. (ATRKE Financial) has allotted as much as P75 million to broaden its fund product line.

In a disclosure to the Philippine Stock Exchange on Wednesday, ATRKE Financial said its subsidiary, ATR KimEng Capital Partners Inc. (ATRKE Capital), has approved investments of up to P50 million in DWS Deutsche Philippine Equity Fund Inc. (DWS Equity), and up to P25 million in DWS Deutsche Philippine Fixed-Income Fund Inc. (DWS Fixed-Income).

The move is part of a transition management agreement (TMA) entered into among ATRKE Capital, DWS Equity, DWS Fixed-Income, and Deutsche Bank AG-Manila Branch (Deutche Manila).

Under the TMA, the management of DWS Equity Fund and DWS Fixed-Income Fund will be transferred to the Mutual Fund Management Company of the Philippines Inc. (MFMCP), a subsidiary of ATRKE Capital.

At present, the 2 funds are managed by Deutsche Manila.

"This transaction is part of ATR KimEng Asset Management's plan to broaden its product range in order to provide its clients with greater access to new asset classes and markets," ATRKE Financial President Manuel Tordesillas said.

"We intend to re-launch these two funds into new portfolios that can take full advantage of the opportunities that emerge as the global economy recovers, while carefully managing the risks inherent in investing. Our commitment to clients is to deliver superior risk-adjusted returns consistently over the long-term," ATR KimEng Asset Management Group Head Michael Ferrer added.

MFMCP forms part of the ATR KimEng Asset Management Group, which was formed late last month. ATRKE Capital renamed and increased the capital of 2 of its subsidiaries, including MFMCP, as part of its plans to expand its presence in the asset management industry.

ATRKE Capital's ATR KimEng Direct Investments was renamed ATR KimEng Asset Management Holdings Inc., and its authorized capital was increased to P140 million.

Likewise, MFMCP is now called ATR KimEng Asset Advisors, with an authorized capital of P100 million.