Mutual funds on the rise; watchdog to issue rule to further help growth

Bisnis.com,29 Jul 2011, 02:32 WIB

JAKARTA: Mutual funds in Indonesia may grow to IDR175 trillion in assets at the end of 2011, rising 11.42% from IDR157.05 trillion at end-June, according to an association.The rosy outlook is in line with the bright prospect of the Indonesian stocks, whose broader index has recently breached a new record level of 4,000, making equity-based mutual funds attractive, said Denny Thaher, deputy chairman of the Indonesian mutual funds' managers.Riding on this positive development, the country's market watchdog Bapepam-LK is planning to meet all investment managers today as it seeks to discuss issues that have been hampering the mutual fund industry. Bapepam plans to pass a regulation to address this problem, Djoko Hendrato, the watchdog's head of investment management, said without elaborating. The IDR157.05 trillion total mutual fund asset at end-June was a record number, after it grew 9.81% from the beginning of the year.The top two biggest components in the total amount were equity-based mutual funds, accounting for 35.64% and protected mutual funds 27.4%.Fixed-income mutual funds were 15.87% of the total, mixed mutual funds 13.55%. The rest were the other types of mutual funds such as those that were based on stock indexes, Sharia rule, money market. (t05/msw)

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