It Turns Out That Bukalapak Has 'idle' Money Of IDR 579.2 Billion Invested In Mutual Funds

Photo: Doc. Bukalapak

JAKARTA - Technology company PT Bukalapak.com Tbk (BUKA) is recorded to have invested in money market mutual funds, sukuk, and bonds with a value of IDR 579.2 billion in one product.

In its financial report for the period March 31, 2022, quoted on Friday, July 22, BUKA recorded investments in six types of mutual funds owned by three investment managers, namely PT Mandiri Manajemen Investasi, PT Principal Asset Management, and PT Ashmore Asset Management Indonesia Tbk.

The mutual fund investment with the largest value made by BUKA was in Ashmore Asset Management, amounting to Rp579.2 billion. The value of this investment increased compared to the end of December 2021, amounting to Rp. 576.5 billion, or an increase of 0.46 percent on a quarter to quarter (qoq) basis.

In detail, 36.43 percent was invested in money market products, and 63.57 percent was invested in Ashmore mutual fund bonds. Then, Rp11.18 billion was invested in a mutual fund owned by Syariah Mandiri Investasi. The value of BUKA's investment in the Syarian Mandiri Investment Mutual Fund increased by 0.55 percent compared to the end of December 2021 which was Rp. 11.11 billion.

Bukalapak's investment placement in the Mandiri Investment Management mutual fund is 76.62 percent in the Islamic money market, and 23.38 percent in sukuk.

The third mutual fund is owned by Principal Asset Management, which amounted to Rp. 6.93 billion at the end of the first quarter of 2022, up from Rp. 6.9 billion compared to the end of 2021. BUKA's investment in Principal AM was placed on the money market by 17.21 percent, and 82 percent. 79 percent in bonds.

BUKA's management explained that the unrealized gain from mutual fund investments, based on the latest available Net Asset Value (NAV), was Rp.2.74 billion as of the first quarter of 2022, and Rp.297.9 billion as of the end of December 2021.