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Jakarta Post

Ashmore becomes first fund management company to list shares on IDX

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Thu, January 16, 2020   /  07:30 am
The Jakarta Post Image
A giant display shows share price movement on the Indonesia Stock Exchange (IDX). PT Ashmore Asset Management Indonesia listed its shares on the IDX on Tuesday.(Antara/Sigid Kurniawan)

The scandals that have rocked the country’s mutual fund industry have not deterred investment management firm PT Ashmore Asset Management Indonesia from listing its shares on the local bourse. The Financial Services Authority (OJK) last year suspended the sales of several mutual fund products from Narada Asset Manajemen and Minna Padi Aset Manajemen after they were proven to have violated the authority’s regulations on mutual funds. The OJK even went as far as to liquidate six of Minna Padi Aset Manajemen’s products and suspend its selling licenses. The Attorney General’s Office (AGO) also called as witnesses 11 investment managers that helped manage PT Asuransi Jiwasraya’s investments, which later turned sour and caused the company to suffer trillions of rupiah in losses. The mutual fund scandal did not prevent the local unit of the London-based in...