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Indo Premier eyes managing Rp 6.5t of assets in 2017
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Two traders are examining IPOT Ultima, the online-trading feature launched by Indo Premier Securities in Jakarta on July 30, 2012. (Kontan/Daniel Prabowo)
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ndo Premier Investment Management, a subsidiary of securities firm PT Indo Premier Securities, projects it will book total assets under management (AUM) of Rp 6.5 trillion (US$499 million) next year.
Diah Sofiyanti, the fund management firm’s president director, said the strong growth of its exchange traded funds (ETF)—traded under the XISC ticker—would help to boost the company’s AUM, which currently stood at Rp 4.2 trillion.
“The return of XISC since it was established on Oct. 17 last year reached 43.27 percent, compared to the Jakarta Composite Index, which was only 27.16 percent. XISC’s AUM grew to Rp 1.2 trillion, implying that the product is appealing for investors,” she said in Jakarta on Thursday.
Hendrisman Rahim, president director of insurance firm Jiwasraya, explained that although the JCI plunged to around 4,300 on Oct. 1 last year when the ETF was launched, Jiwasraya took a bet to invest in XISC to support the development of the new product.
“At that time, only Jiwasraya who was willing to support the issuance of BUMN [state-owned company] stocks based ETF as the early investor, because we believe the market will rebound, primarily because BUMN stocks are usually the major drivers of Indonesia’s markets,” he said.
As shown by the result, from Jiwasraya’s initial investment of Rp 100 billion, the value has jumped to Rp 1.1 trillion or increased more than 1,000 percent in only one year, he said. (win/ags)
