OJK Explains The Cause Of Mutual Fund Management

Rupiah (Photo: Antara)

JAKARTA - Head of the OJK Capital Market Licensing Department, Luthfy Zain Fuady said that until December 22, 2023, the total value of mutual fund management (AUM) decreased by 2.39 percent to Rp807.75 trillion, compared to last year's total AUM of Rp827.54 trillion.

Meanwhile, the value of net assets (NAB) for mutual funds as of December 22, 2023 was IDR 494.56 trillion. This figure is down 2.04 percent compared to last year's IDR 504.86 trillion.

In addition, the number of mutual fund products also decreased by 12.36 percent (ytd) to 1,858 products, compared to the previous 2,120 products.

Then, the Indonesian Bond Index (ICBI) increased 8.51 percent (ytd) to 374.20 levels, from previously at the level of 344.78.

Meanwhile, the market capitalization (market cap) of the Indonesian capital market reached IDR 11,762 trillion as of December 28, 2023, an increase of 23.82 percent (ytd) compared to last year's IDR 9,499 trillion.

Meanwhile, fund raising in the Indonesian capital market reached IDR 247.06 trillion as of December 28, 2023. Furthermore, the collection of Securities Crowd funding (SCF) was IDR 1.04 billion, with a total number of publishers as many as 493 publishers.

In addition, Indonesia's capital market in 2023 has recorded 79 new companies that have held an Initial Public Offering (IPO), and managed to raise funds of IDR 54.14 trillion.

Furthermore, the number of investors in the Indonesian capital market reached 12.15 million investors as of December 28, 2023, an increase of 17.16 percent (ytd), compared to the end of 2022 of 10.31 million investors.

Luthfy said the amount consisted of 5.25 million stock and other securities investors, 11.40 million mutual funds, and 1 million state securities or SBN.

According to Luthfy, the factors for the decline in AUM and NAB mutual funds come from the number of products that have been contracts for collective investment, equity and the influence of the Job Creation law.

"As well as the policy restrictions imposed by the OJK on several investment managers in terms of making new products the cause of AUM has decreased," he said at the 2023 IDX Trading Closing Press Conference on Friday, December 29.

Luthfy explained that regarding the alternative storage of customer funds, PT Kustodian Sentral Efek Indonesia (KSEI) has developed an Investor Fund Unit Account (IFUA) for mutual fund instruments.

The use of IFUA as an alternative to storing capital market customer funds aims to facilitate investors, especially individuals, from opening investment accounts, when making transactions to completing transactions.