JAKARTA - Director of Trade and Member Assessment of the Indonesia Stock Exchange (IDX) Laksono W. Widodo gave a response regarding the plan for the Social Security Administration for Employment (BPJS) to prepare to reduce the portion of investment in mutual funds and stock instruments.
The boss of the IDX explained that in principle, the investment decision of a business entity in a particular issuer is the right of each company. The IDX as the capital market operator respects the fund management decisions of each investment manager.
"The investment manager's decision to manage public funds is an independent policy," he said after accompanying President Joko Widodo in vaccination activities for banking and capital market players at the Indonesia Stock Exchange building, Wednesday, March 31.
Laksono added, his party will monitor the movement of BPJS Ketenagakerjaan in the past few years to see the potential and impact that will be on the capital market if the plan to leave is realized.
Because according to his knowledge, the financial instruments that have been the barn of BPJS Ketenagakerjaan have been oriented towards government debt securities, private bonds, and time deposits, aka deposits.
As previously reported, the President Director of BPJS Ketenagakerjaan, Anggoro Eko Cahyo, revealed that the company will make adjustments to its investment portfolio by reducing the composition of investments in stocks and mutual funds. This step aims to reduce the risk of falling prices in the market.
He noted, until February 2021, the fund adequacy ratio (RKD) of the old age security program (JHT) was 95.2 percent. This number is known to have not reached 100 percent since December 2017 with the latest record of 101 percent.
Furthermore, Anggoro said one of the main reasons for RKD not reaching the 100 percent level was due to the market risk of stocks and mutual funds which accounted for 23.8 percent of the JHT investment value. Therefore, management chose to adjust the investment portfolio accordingly.
"We see the efforts that can be made by changing 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, Tuesday, March 30th.
Based on information compiled by the editorial team, the investment composition of BPJS Ketenagakerjaan in January 2021 consists of 15.9 percent shares, 8.3 percent mutual funds, 63.1 percent bonds, 12.2 percent deposits, 0.4 percent property, and 0 direct investment. 1 percent.
As for some of the issuers where BPJS Ketenagakerjaan invested capital, among others, BBRI, WIKA, BBTN, PTBA, ADRO, UNVR, KLBF, and TLKM.
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