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Allianz Global Investors buys Indonesia s RHB Asset from RHB Group
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Indonesia mutual fund and pension assets decline | Asia Asset Management
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Indonesia’s pension fund industry assets fell 0.3% in the first quarter as stocks declined and government bonds rose.
The industry ended the first three months of 2021 with 313.74 trillion rupiah (US$22.92 billion) of total assets, down from 314.67 trillion rupiah at the end of last year, according to latest data published on the website of the Financial Services Authority of Indonesia. As usual, the regulator did not provide any analysis.
The pension fund industry’s government bond assets rose 11.32% to 79.14 trillion rupiah, while equity assets fell 6.22% to 30.14 trillion rupiah. The benchmark Jakarta Composite Index fell 1.25% in the first quarter.
The decline was largely due to the underperformance of foreign stocks, according to a fund manager from an Indonesian asset management firm.
Indonesia’s fund management industry assets fell 1.39% in the first quarter as stocks funds declined amid rising bond yields and a weaker rupiah.
The industry had 565.87 trillion rupiah (US$40.66 billion) of assets as of end-March, down from 573.54 trillion rupiah on December 31, 2020, according to latest figures published on the website of the Financial Services Authority of Indonesia.
The regulator typically posts the data without providing analysis.
Stock funds fell 3.19% quarter-on-quarter to 123.71 trillion rupiah while bond funds edged up 0.27% to 141.28 trillion rupiah.
The decline in stock funds was primarily caused by foreign investors cutting their exposure to emerging-market equities to move into safe haven assets, according to a portfolio manager at an Indonesian fund management company.
Indonesia pension fund industry assets rose 7 89% in 2020
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