JAKARTA - President Director of BPJS Ketenagakerjaan Anggoro Eko Cahyo revealed that his party will adjust its investment portfolio by reducing the composition of investments in stocks and mutual funds. The aim is to reduce the risk of falling prices in the market.
Anggoro said, in February 2021, the fund adequacy ratio (RKD) of the old age security program (JHT) was 95.2 percent. According to him, the number of RKDs has never reached 100 percent since December 2017 which reached 101 percent.
Furthermore, Anggoro said, what caused the RKD to not reach 100 percent was due to the market risk of stocks and mutual funds, which account for 23.8 percent of the JHT investment value. Because of this, management chose to adjust its investment portfolio.
"We see that the strategy can make changes from stocks and mutual funds to bonds or direct investment. So that we will slowly recompose existing assets to minimize market risks that occur today," he said in a hearing with Commission IX of the House of Representatives on Tuesday, March 30th.
Anggoro admitted that the strategy would shrink share ownership and mutual funds in JHT's portfolio. However, this will also reduce the impact of the composite stock price index (IHSG) fluctuations on BPJS Ketenagakerjaan funds.
Furthermore, he said that another strategy that the management will undertake in improving the JHT investment portfolio is through intensive communication with issuers whose shares are in the BPJS Ketenagakerjaan portfolio and contributing to the ongoing unrealized loss.
The list of BPJS Ketenagakerjaan shares includes PT Astra Agro Lestari Tbk (AALI), PT Adaro Energy Tbk (ADRO), PT Aneka Tambang (Persero) Tbk (ANTM), PT Astra International Tbk (ASII), PT Bank Central Asia Tbk ( BBCA), PT Bank Negara Indonesia Tbk (BBNI), PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Tabungan Negara (Persero) (BBTN), PT Bank Mandiri (Persero) Tbk (BMRI), PT Bumi Serpong Damai Tbk (BSDE ), PT Garuda Indonesia (Persero) Tbk (GIAA), and PT Indofood CBP Sukses Makmur Tbk (ICBP).
Anggoro also stated that BPJS Ketenagakerjaan will rebalance the deposit portfolio to bonds. He said this was aimed at achieving optimal returns and maintaining the availability of short-term funds when the job loss guarantee program (JKP) began to run in the near future.
"We also know that with the BI 7 days reverse repo rate of 3.5 percent, bank deposits have also decreased, so this will draw down our portfolio yields. Then, because the JKP will be launched in the near future, of course for the JKP program we will allocate assets. to instruments that are shorter term, "he said.
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