Capital Market Investors Continue to Increase, KSEI Focuses on Improving Quality

Illustration. (Photo: Dok. Antara)

JAKARTA - PT Kustodian Sentral Efek Indonesia (KSEI) recorded a significant increase in the number of capital market investors, namely until December 19, 2025, reaching 20,129,679 Single Investor Identification (SID) or grew by about 35 percent compared to the same period last year of 14,871,659 SID.

KSEI also revealed that the increase in the number of investors has been consistent in the last five years, namely in 2020, the capital market investors were recorded at 3.88 million, then increased to 7.49 million in 2021.

The trend continued in 2022 with 10.31 million investors, rising to 12.17 million in 2023, and 14.87 million in 2024, before finally surpassing the 20 million mark in 2025.

KSEI President Director, Samsul Hidayat, said that together with other self-regulatory organizations (SRO), KSEI is currently focusing on improving the quality of more than 20 million investors.

He explained that the majority of capital market investors today are mutual fund investors who tend to be oriented towards long-term investment.

"Well, it is hoped that with this mechanism, of course, it cannot be too fast. Why? Because long-term investors can enter slowly into the existing accounts. And this is almost 18 million investors, mutual fund investors and those investors are not like stock investors who actively trade daily," he said in a Media Briefing, Tuesday, December 23.

Samsul also said that most capital market investors came from a flow of funds that had previously been placed in other instruments and many mutual fund investors were conservative so they were looking for alternatives so that their funds would continue to grow.

"It's just a raksadana with investors who think that conservative investors just don't want their money to grow elsewhere, so they put it in raksadana. So this is the hope that it is indeed (investor activity) can't be in a short time," he said.

In the future, Samsul said KSEI hopes that investors will be further encouraged to increase their investment in line with the performance of the yield offered by mutual fund products.

He explained that the largest investor growth came from mutual funds instruments and based on KSEI data, the number of mutual fund investors became 18,990,746 SID, an increase of 35 percent from the previous year of 14,033,037 SID.

Meanwhile, the number of stock investors also increased to 8,504,076 SID by 33 percent compared to 2024 which was 6,381,444 SID.

However, Samsul emphasized that some mutual fund investors are also stock investors.

"The most investors are investors in mutual funds, namely 18,990,000 which is that it is diagonal. So some of these investors are also equity investors (stock market) namely at 8,504,000," he said.

The lowest growth was recorded by investors in State Securities (SBN) which increased by 17 percent to 1,405,712 SID compared to 2024 which was 1,198,821 SID.

In total, the number of SID from all instruments was recorded as 24,925,649, or an increase of 27 percent compared to the previous year which reached 19,598,704 SID.

KSEI's Director of Infrastructure Development and Information Management, Dharma Setyadi, said that in line with the increase in the number of investors and transaction activities, KSEI emphasized that strengthening infrastructure remains the company's main focus.

He said that in 2026 KSEI will prioritize strengthening the core system and increasing cyber resilience.

A number of strategic agendas prepared for 2026 include updating the EZ-KSEI service to EZ 2.0, a study on connectivity with International CSD (ICSD), upgrading the C-BEST system to version 4 with a target for implementation by the end of 2028, updating the S-Invest system to support the development of the mutual fund industry, and the implementation of Omnibus Settlement with KPEI in the first quarter of 2026.

"Our goal is to ensure that the Indonesian capital market is increasingly efficient, safe, and competitive globally," he said.