Acquiring Aset Ayers Asia, Stockbit, and Fullerton will boost investment product penetration in Indonesia.
Heaptalk, Jakarta — A wealth tech startup, PT Stockbit Sekuritas Digital (Stockbit), announced its strategic partnership with the Fullerton Fund Management Company Ltd (Fullerton) to acquire an investment management firm PT Ayers Asia Asset Management (Ayers Asia) for an undisclosed amount.
Through this strategic move, Stockbit startup and Fullerton will provide and distribute investment solutions in the archipelago as one of the dynamic markets in the Southeast Asia region and target multiple investor spectrums, including retail, intermediaries, and institutional investors.
“We appreciate the direction and the continuous support that the Financial Services Authority (OJK) gives us. Also, we are excited about our partnership with Fullerton, a company that has achieved recognition in investment and risk management,” said the CEO and Co-Founder of Stockbit.
Refers to the Kustodian Sentral Efek Indonesia (KSEI) report, the number of investors in Indonesia evolved by up to 38% year-on-year (YoY) in 2022. However, the Asset Under Management of Indonesian mutual funds is still below 4% of the Gross Domestic Product (GDP), which is far below other countries, such as Malaysia (35.8%), Thailand (30.3%), and India (15.8%).
Perceiving this growth, Stockbit emphasized strengthening its goal to back society in Indonesia to reaching a more guaranteed financial. Through the startup’s digital-first approach, the effort allows investors to establish a portfolio aligned with the risk profile and investment goal.
Meanwhile, Fullerton is an active investing specialist with 20 years of investing experience across various asset classes, markets, sectors, and geographies. Focusing on risk management, Fullerton has served several clients, such as Sovereign Wealth Fund, insurance companies, family offices, personal wealth, and retail channels across Asia, Europe, and the United States.
Through this partnership, the CEO of Fullerton Fund Management, Jenny Sofian, claimed the company is incredibly excited about serving the Indonesian market with Stockbit as a proliferating platform with in-depth insight into the needs of investors in the country.
“Stockbit’s aspiration of making investment solutions widely accessible complements our commitment to designing quality offerings to meet the needs of this fast-growing and dynamic market,” Jenny affirmed in her statement.
