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New Money Market Mutual Fund Is Being Offered via Indonesia's OVO Mobile App through Partnership with Local Firms


Indonesian digital wallet provider
Manulife Aset Manajemen Indonesia (MAMI) and its partner
Bareksa in order to introduce an instant redemption mutual fund. OVO stated that the new offering is the first of its kind in the Southeast Asian country.
The money market mutual fund product is being offered via the OVO mobile app as part of its OVO Invest feature from IDR 10,000 (appr. $0.71) onwards. OVO confirmed that the product also offers instant redemption.
With this new product launch, OVO plans to improve the micro-investment space in Indonesia and make investing more accessible and lucrative to new or first-time investors.
In 2019, there were just 1.7% of Indonesians that took part in the financial market according to data provided by the Financial Services Authority (Otoritas Jasa Keuangan). Entry barriers to investing might include lack of access to good investment opportunities, high capital entry requirements, payment issues and the relative illiquidity ....

Jason Thompson , Financial Services Authority Otoritas Jasa Keuangan , Manulife Aset Manajemen Indonesia , Southeast Asian , Financial Services Authority , Otoritas Jasa Keuangan , Prudential Indonesia , Interim President Director , ஜேசன் தாம்சன் , தென்கிழக்கு ஆசிய , நிதி சேவைகள் அதிகாரம் , விவேகமான இந்தோனேசியா , இடைக்கால ப்ரெஸிடெஂட் இயக்குனர் ,