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Online sale boosts mutual fund industry
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A man opens the Bareksa marketplace platform through its laptop as he keeps track of an online transaction with his smartphone. (JP/Damar Harsanto)
Digital innovation, particularly in the form of online sales, has helped to develop the country’s mutual fund industry.
The Financial Services Authority (OJK) has recorded Rp 493.65 trillion in the mutual fund industry as of August this year.
That amount is a 21.4 percent increase from Rp 406.55 trillion in August last year.
"One of the factors that has helped drive the industry is online sales. We fully support this trend," OJK investment management licensing deputy director I Made Bagus Tirthayatra said during the Bareksa Kontan Fund Awards in Jakarta on Wednesday night.
"We hope this positive trend will continue. We will provide support with [relaxed] regulations," he added.
Meanwhile, in terms of the number of investors, an increase of more than 140 percent was recorded in the past two years to 822,221 in July 2018 from 340,869 in August 2016.
"We’ve pushed mutual fund managers to maximize the existing condition [to improve further]," Tirthayatra added.
Bareksa cofounder and chairman Karaniya Dharmasaputra, meanwhile, said the awards were held to provide the public with guidance in choosing the best mutual fund for investment.
"The public needs a reference," he said, emphasizing that the awards were based on objective assessment. (waw)
