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Foreign investors attracted to invest money in mutual funds: IDX
Still strong: Indonesia Stock Exchange (IDX) president director Tito Sulistio (left) says the capital marketâs investment products, such as its mutual funds, are still attractive to foreign investors
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Still strong: Indonesia Stock Exchange (IDX) president director Tito Sulistio (left) says the capital marketâs investment products, such as its mutual funds, are still attractive to foreign investors. (thejakartapost.com) (IDX) president director Tito Sulistio (left) says the capital marketâs investment products, such as its mutual funds, are still attractive to foreign investors. (thejakartapost.com)
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span class="inline inline-center">Still strong: Indonesia Stock Exchange (IDX) president director Tito Sulistio (left) says the capital market's investment products, such as its mutual funds, are still attractive to foreign investors. (thejakartapost.com)
The Indonesia Stock Exchange (IDX) said foreign investors' funds had continued to enter the capital market's investment products, such as mutual funds, because they were still considered attractive.
IDX president director Tito Sulistio said based on the market's data in the past month, the amount of mutual fund subscriptions had reached around Rp 16 trillion (US$1.12 billion) and Rp 12 trillion.
'So there has been around Rp 4 trillion worth foreign funds entering mutual funds,' he said as quoted by Antara on Tuesday. He was speaking at an event in Jakarta on Monday evening.
Tito said interest from foreign investors was still high because the country's economy was resilient.
'Problems with Indonesia's development began when the People's Consultative Assembly no longer composed the state policy outline, previously known as GBHN. In GBHN, we could find long term economic and defense strategies. We actually need a long term plan so we will know what direction this country will be going,' said Tito.
Bank Mandiri president director Budi Gunadi Sadikin said Indonesia was resilient and would bounce back from the current crisis.
'The current crisis is smaller compared to the ones that occurred in 1998 and 2008. In terms of liquidity and inflation, the current situation is much better. In 1998, the IDX dropped significantly. The Jakarta Composite Index declined by 60 percent in that year while in the current crisis, it has dropped by only 20-25 percent. So, fundamentally, the current condition is far better,' said Budi. (ebf)
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