JAKARTA - PT Danantara Asset Management (DAM) officially has more than IDR 170 trillion in assets under management (AUM) after taking over control of four investment management companies (MI) owned by state-owned enterprises (SOEs). This step is part of Danantara Indonesia's strategy to strengthen the national investment management industry.
The acquisition was marked by the signing of a Share Purchase Agreement (SPA) or Share Purchase Agreement of PT Mandiri Manajemen Investasi (MMI), PT BRI Manajemen Investasi (BRI MI), PT BNI Asset Management (BNI AM), and PT PNM Investment Management (PNM IM) on July 22, 2026.
Danantara Indonesia Chief Operating Officer Dony Oskaria said the acquisition of the four investment managers was not merely a stock purchase transaction, but a strategic step to build a stronger investment management institution. The four companies collectively manage funds of more than Rp170 trillion as of June 2026.
"This is a big step to strengthen the national investment management industry. These four companies have strong experience, networks, and capabilities, and collectively manage funds of more than Rp. 170 trillion," said Dony in an official statement, Thursday, July 23.
Dony said that in the next one month the four companies will be merged into one entity, with PT Mandiri Manajemen Investasi as the surviving entity. Through this process, Danantara targets the formation of the largest asset management company in Indonesia.
"Danantara Indonesia will ensure that all these forces are directed through better strategies and governance so that they can grow stronger, more competitive, and provide greater added value for the Indonesian economy. In the next month, these four asset management will merge into one of the largest asset management companies in Indonesia. This process is part of the streamlining being carried out by Danantara Indonesia," he said.
The consolidated company will combine the experience, distribution network, investment capabilities, and investor base of each investment manager. Through an integrated business model, the new entity is targeted to be able to expand investment access for retail and institutional investors, as well as present more competitive investment solutions.
President Director of PT Mandiri Manajemen Investasi Hardiyanto Pilia said the consolidation was a strategic step to build a national investment management institution with a stronger scale and governance.
"This consolidation is a strategic step to build a national investment management institution that has a stronger scale, capability, and governance. Armed with this foundation, we are optimistic that the Indonesian investment management industry will become more competitive and able to strengthen investor confidence, both domestically and globally," he said.
In the retail segment, the consolidated company will develop thematic investment products and expand distribution through the network of State-Owned Bank Group (Himbara) banks, as the number of national Single Investor Identification (SID) has exceeded 20 million investors.
Meanwhile, in the institutional segment, he continued, the company will expand its investor base and present more comprehensive investment solutions for various domestic institutions.
"We see a huge momentum ahead. With a growing retail investor base and a stronger institutional confidence, the synergy of these four entities will make the consolidated company an investment partner of choice for millions of Indonesians," said Hardiyanto.
Meanwhile, the President Director of PT BRI Investment Management, Arief Budiman, called this merger a strategic momentum to deepen retail market penetration. As of June 2026, BRI MI recorded a total AUM of IDR 52.61 trillion with a strong retail customer base as an important capital in strengthening the company's ecosystem as a result of consolidation.
"With the strength of the distribution network and the growing retail investor base, this merger will expand public access to reliable investment products while accelerating the deepening of the capital market," he said.
President Director of PT BNI Asset Management, Ari Adil emphasized that BNI AM's strong business composition between retail and institutions with AUM of IDR 29.59 trillion as of June 2026, will be one of the main strengths in strengthening the company's capabilities as a result of consolidation.
"We are optimistic that this merger will strengthen the capacity to manage national investments through synergies in investment expertise, product innovation, governance strengthening, and a more solid and competitive business scale," he said.
President Director of PT PNM Investment Management, Ade Santoso Djajanegara, emphasized PNM IM's experience in developing inclusive investments with AUM of IDR 10.31 trillion as of June 2026, will complement the strength of the consolidated company in expanding access to investment services to the public.
"This collaboration is an important step to build an investment manager institution that is not only getting stronger in business, but also able to expand economic benefits and encourage more sustainable growth," he said.
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