$40 Billion Fullerton Fund Management & Indonesia Fintech Investment Platform Stockbit Launch Joint Venture PT Grow Investments Indonesia Targeting at Institutional, Retail & Private Wealth Investors, Led by President Director Yenwy Wongso with Over 20 Years of Asset Management Experience Including at Fullerton Fund Management and Ashmore Asset Management
9th August 2023 | Hong Kong
Singapore asset manager Fullerton Fund Management with $40 billion AUM (Assets under Management) and Indonesia fintech investment platform Stockbit have launched joint venture PT Grow Investments Indonesia targeting at institutional, retail & private wealth investors. PT Grow Investments Indonesia is led by President Director Yenwy Wongso, who has over 20 years of asset management experience including at Fullerton Fund Management (Portfolio Manager / Equity Analyst) and Ashmore Asset Management (Senior Equity Portfolio Manager). Grow Investments: “The firm will offer a suite of investment solutions to meet the unique needs and investment objectives of investors, from retail and private wealth to institutional investors … … In response to the evolving landscape for wealth management, Grow Investments intends to tap the exceptional and multi-faceted growth potential in Indonesia through its bespoke investment solutions that can benefit investors across the country. With a productive-age population of more than 190 million people, Indonesia is one of Southeast Asia’s most dynamic markets, which will drive demand for financial products and services. The wealth management landscape in the country has also changed significantly in the past four years. In 2018, the volume of mutual funds transactions only totalled one million transactions, while in 2022 the number has grown to 29.4 million transactions. This rapid growth is attributed to the role of technology in making investment more accessible, combined with rising prosperity and the increased demand from investors. Although the number of investors in Indonesia has grown by 38% year-on-year in 2022, only 4% of the population are currently investing in capital market products, lower than Singapore and Malaysia where the number has reached over 25% and 9% respectively. The name “Grow Investments” is a nod to the philosophy of the brand to help clients grow their investments over time. It’s a testament to the firm’s relentless commitment to find better ways to support and serve investors through changing market conditions. It also symbolises the firm’s aspiration to grow alongside and flourish with its clients.” In May 2023, Fullerton Fund Management and Stockbit had acquired 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). Indonesia is the largest economy in Southeast Asia with $1.2 trillion GDP and with 281 million population. More info below.
” $40 Billion Fullerton Fund Management & Indonesia Fintech Investment Platform Stockbit Launch Joint Venture PT Grow Investments Indonesia Targeting at Institutional, Retail & Private Wealth Investors, Led by President Director Yenwy Wongso with Over 20 Years of Asset Management Experience Including at Fullerton Fund Management and Ashmore Asset Management “
Yenwy Wongso, Grow Investments President Director: “By leveraging Stockbit’s digital first approach, deep understanding of the local market, and Fullerton’s award-winning investment capabilities in global markets, Grow Investments will focus on generating positive, long-term risk-adjusted returns to help investors grow their wealth. This ties closely with the firm’s strategy to be a trusted partner and manager for investors across Indonesia … … With the rapid economic growth that Indonesia is experiencing, individual and institutional investors’ requirements are becoming more sophisticated. Grow Investments is deeply committed to creating quality investment solutions to help investors meet their investment objectives. In doing so, we offer diversified and differentiated solutions that combine global expertise and local insights to address the current gaps in the market.”
PT Grow Investments Indonesia (“Grow Investments”) is a Jakarta-based asset management firm that will manufacture and distribute quality investment solutions for a wide spectrum of investors across retail, private wealth and institutions. By orchestrating digital capabilities, local insights, and global investment experience, Grow Investments aspires to offer diversified and differentiated investment solutions to help its clients grow their assets over the long term while focusing on ensuring robust risk management. Grow Investments is a joint venture between PT Stockbit Investa Bersama (“Stockbit”) and Fullerton Fund Management Company Ltd (“Fullerton”). Grow Investments is licensed and supervised by the Financial Services Authority (“OJK”).
$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 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).
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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