BUSINESS FINANCE : Overseas Investors Are Increasingly Crowded Into Indonesia's Asset Management And Securities Markets

 

 

In Indonesia, acquisitions of securities and wealth management firms are getting busier. PT Yuanta Asset Management was earlier acquired by the Ganda Sitorus family, Sea Group's business partner; now, it is Webull Securities Limited's (Webull Securities) turn to annex PT Mahastra Andalan Sekuritas (Mahastra).

As a player in the capital market sector, Pinnacle Investment certainly embraced the frenetic acquisitions, according to one of the asset management industry players, PT Pinnacle Persada Investama Guntur Putra.

When contacted by Kontan.co.id on Wednesday (22/2) Guntur stated, "Indirectly, the attractiveness of foreign investors to the capital market industry in Indonesia is still quite high and they see the prospects of entering the capital market industry and investment managers in Indonesia are still quite attractive."

According to Guntur, Pinnacle Investment (Pinnacle Persada Investama) is still growing and having stability in terms of total managed funds compared to the industry, where total managed funds for mutual funds will decrease by almost 15% in 2022.

He said that performance "was also quite strong throughout 2022 and many of our mutual fund products recorded quite good performance in 2022."

The brokerage business line of PT BRI Danareksa Sekuritas, a division of PT Bank Rakyat Indonesia (Bank BRI), reported aggressive growth in 2022, outpacing the growth in brokerage transactions on the capital market during the same period.

In comparison to the industry's 10% growth in stock brokerage on the Indonesian capital market, BRI Danareksa Sekuritas' performance in equity brokerage increased by 55% in 2022.

According to Laksono Widodo, the main director of BRI Danareksa Sekuritas, the rise was backed up by a notable improvement in the institutional equity brokerage business performance of BRI Danareksa Sekuritas, which was 133% higher than the market's growth of 38%.

According to Bloomberg statistics, BRI Danareksa Bond Brokerage increased its market share in 2022 and managed to keep the top rating for government bonds among securities firms that are members of the stock exchange (AB) on the Indonesia Stock Exchange (IDX).