Stockbit will take 51% of Grow Investments‘s stock. Meanwhile, Fullerton will handle the rest, with an authorized capital of Rp32 billion.
Heaptalk, Jakarta — PT Stockbit Investa Bersama (Stockbit), together with Fullerton Fund Management Company Ltd (Fullerton), has officially launched PT Grow Investments Indonesia. The establishment of this joint venture company is a part of the company’s further action following the latest strategic acquisition of investment management company PT Ayers Asia Asset Management in May 2023.
Cited in Indonesia’s Financial Service Authority (OJK), Stockbit will take a majority stock of Grow Investments at 51%. Meanwhile, Fullerton will handle the rest, with an authorized capital of Rp32 billion.
In its operations, Grow Investments will be led by Yenwy Wongso, who will serve as the company’s President Director. Yenwy revealed, “By leveraging Stockbit’s digital approach and Fullerton’s in-depth understanding of the local market and global investment capabilities, Grow Investments will focus on creating positive long-term investment returns and calculating risk to help investors grow their assets. The company will implement a strategy to become a trusted partner and manager for investors in Indonesia,”
Indonesia is one of the most dynamic markets in Southeast Asia, whereby the public demand for financial services continues to increase. The wealth management landscape in Indonesia has also enhanced significantly in the last four years. In 2018, mutual fund transaction volume was only around one million transactions. Meanwhile, in 2022, the mutual fund transaction has improved significantly, attaining 29.4 million transactions.
This growth is driven by technology in making investment more accessible and increasing investor demand. The number of investors also increased to 38% year-on-year (YoY) in 2022, with only about 4% of the population invested in the capital market. This output is still below compared to other countries, namely Singapore (25%) and Malaysia (9%), Indonesia’s OJK reported.
In response to the development of the wealth management landscape, Grow Investments Indonesia plans to offer profitable investment solutions amid promising growth potential at various levels of investors, spanning retail investors, private wealth, and institutions.
“Realizing Indonesia’s economic growth continues to grow, the needs of individual and institutional investors are also becoming more complex. For this reason, Grow Investments aims to create quality investment solutions for investors by offering different and diversified solutions by combining global expertise and understanding of the local market to bridge existing gaps,” added Yenwy.
As it is known, the name Grow Investments philosophically represents the company’s aspiration to assist clients in growing their investments. This name is also a form of the company’s commitment to discovering the best solutions to serve investors amidst challenging global market conditions.
