JP Morgan fund keen on China, India and Indonesia

Hong Kong: JP Morgan Asset Management is eyeing China and India's toll road sector, and Indonesia's power and logistics industries, after investing a third of its $860 million (Dh3,158 million) Asia infrastructure fund, the fund's chief said.

In addition to these fast-growing economies, the Asian Infrastructure & Related Resources Opportunity Fund is looking at wind and solar energy sectors in South Korea and utilities in Thailand and the Philippines, Philip Jackson, chief of JP Morgan's Asia infrastructure investments group, said in an interview yesterday.

"The toll road sectors in China and India are developing quite rapidly. We will be prepared to look at toll roads in other countries," Jackson said, adding, "Several of our colleagues are in Indonesia at the moment, so it's definitely on our radar screen."

China, India and Indonesia, which together make up a third of the earth's population, are seeing heady economic growth, with gross domestic product growth in each country set to be six per cent or greater this year, Indonesia and World Bank data showed.

So far, the fund has invested about 35 per cent of the fund in a hospital operator in India, and cement, water and waste water treatment companies in China, said Jackson.