$40 Billion Fullerton Fund Management & Indonesia Fintech Investment Platform Stockbit Jointly Acquire Indonesia PT Ayers Asia Asset Management, Forms Strategic Partnership to Develop Investment Products for Indonesia Investors
30th May 2023 | Singapore
Singapore asset manager Fullerton Fund Management with $40 billion AUM (Assets under Management) and Indonesia fintech investment platform Stockbit have jointly acquire Indonesia PT Ayers Asia Asset Management (Asset Manager based in Jakarta), forming a strategic partnership to develop investment products for Indonesia investors (retail, intermediaries, institutions). Official Statement: “This strategic partnership brings together complementary capabilities. Stockbit’s digital investing platform and local insights combined with Fullerton’s investment expertise will allow the collaboration to bring innovative products and solutions to investors in Indonesia. Stockbit was founded with the mission to help Indonesians achieve a secured financial future. Stockbit’s digital-first approach enables investors to build portfolios according to their risk profile and investment goals in a simple and optimal way. Stockbit’s products and services covers a broad range of asset classes, including stocks, bonds and mutual funds. Fullerton is an established, active investment specialist with 20 years of experience investing across asset classes, markets, sectors and geographies. It has a strong focus on risk management, and its clients include sovereign wealth funds, insurance companies, family offices, private wealth and retail channels across Asia, Europe and the Americas.” Indonesia mutual fund is less than 4% of Indonesia GDP (Indonesia Central Securities Depositary, KSEI). The mutual fund to GDP ratio is 35.8% in Malaysia, 30.3% in Thailand and 15.8% in India (World Bank). Indonesia is the largest economy in Southeast Asia with $1.2 trillion GDP and with 281 million population. Indonesia stock market total capitalisation is $629 billion (March 2023), Singapore stock market total capitalisation is $612 billion (March 2023), and Hong Kong stock market total capitalisation is $4.5 trillion (April 2023).
“ $40 Billion Fullerton Fund Management & Indonesia Fintech Investment Platform Stockbit Jointly Acquire Indonesia PT Ayers Asia Asset Management, Forms Strategic Partnership to Develop Investment Products for Indonesia Investors “
Fullerton Fund Management is part of a multi-asset management group (Seviora, holding company established by Temasek), with Income (leading Singapore insurer) a minority shareholder of Fullerton.
$40 Billion Fullerton Fund Management & Indonesia Fintech Investment Platform Stockbit Jointly Acquire Indonesia PT Ayers Asia Asset Management
Fullerton Fund Management and Indonesia fintech investment platform Stockbit jointly acquire Indonesia PT Ayers Asia Asset Management (Asset Manager based in Jakarta), forming a strategic partnership to develop investment products for Indonesia investors (retail, intermediaries, institutions).
Sigit Kouwagam, CEO & Co-founder of Stockbit:
“Stockbit sincerely appreciates the guidance from the Financial Services Authority (OJK) and would like to thank OJK for their continuous support. We are delighted to partner with Fullerton, an award-winning fund manager with deep investment expertise and strong focus on risk management. We believe Fullerton’s strong track record to deliver quality investment solutions will benefit investors in Indonesia.”
Jenny Sofian, CEO, Fullerton Fund Management:
“Fullerton is excited to enter the Indonesian market with Stockbit, a fast-growing fintech player with a prominent brand and deep understanding of the diverse needs of investors in Indonesia.
Their ambition to making investment solutions widely accessible, complements our commitment to design quality offerings to meet the needs of this rapidly expanding and dynamic market.”
About Stockbit
In 2013, Stockbit was established as a platform for investors to share stock-investing ideas, news, and information in real-time. In early 2019, Stockbit launched Bibit, the leading mutual fund robo-advisory investment app in Indonesia. As part of Stockbit Group, Bibit continues to focus on building innovative products and services to democratize investing in the country’s capital market, as well as enabling its users to invest in diversified asset classes such as mutual funds, primary and secondary government bonds such as Obligasi Negara Ritel (ORI), Savings Bond Ritel (SBR), Sukuk Tabungan (ST), Sukuk Ritel (SR), Fixed Rate (FR), and stocks. In 2021, Stockbit entered the brokerage business through Stockbit Sekuritas. In 2023, Stockbit is entering the investment management industry in collaboration with Fullerton Fund Management. For more information, please visit bibit.id and Stockbit.com.
(Founded in 1990 under the name PT Mahakarya Artha Sekuritas and registered with the OJK with license number KEP-132/PM/1992, PT Mahakarya Artha Sekuritas continues to be committed to increasing the number of investors in Indonesia to help the national economy. In December 2021, PT Mahakarya Artha Sekuritas was officially acquired and changed its name to PT Stockbit Sekuritas Digital. As a securities company with experience, PT Stockbit Sekuritas Digital is committed to continuing to innovate and provide investors with easy, safe and reliable investment services and experiences through world-class technology to facilitate the public in investing easily in the Indonesian capital market through trading services. modern online stock. Through the Stockbit social investment application, investors can discuss and conduct stock transactions online. Securities account opening can also be done through the Stockbit application which can be downloaded via the Playstore and Appstore.)
About Fullerton Fund Management
Fullerton Fund Management Company Ltd (“Fullerton”) is an active investment specialist, focused on optimising investment outcomes and enhancing investor experience. We help clients, including government entities, sovereign wealth funds, pension plans, insurance companies, private wealth and retail, from the region and beyond, to achieve their investment objectives through our suite of solutions. Our expertise encompasses equities, fixed income, multi-asset, alternatives and treasury management, across public and private markets. As an active manager, we place strong emphasis on performance, risk management and investment insights. Incorporated in 2003, Fullerton is headquartered in Singapore, and has associated offices in Shanghai, London, and Brunei. Fullerton is part of a multi-asset management group, Seviora, a holding company established by Temasek. Income, a leading Singapore insurer, is a minority shareholder of Fullerton. FVisit www.fullertonfund.com
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