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Friday, January 8, 2010

Revision of private equity fund underway

as published in Bisnis Indonesia daily newspaper
Friday, 08/01/2010 00:00 WIB

Revision of private equity fund underway

JAKARTA: The Capital Market and Finance Supervisory Agency (BApepam-LK) plans to revise the regulation on the private equity funds (RDPT) which will define the wealth management product applicable to the investment managers (IM).

Investment management bureau chief of Bapepam-LK Djoko Hendratto, who coordinates the IM and mutual fund products, said the revision is done so that the definition of RDPT and discretionary fund (KPD) become clearer.

The capital market authority plans to change through the regulation revision No.IV.C.2 on the requirement for collective investment contract private equity fund.

"The definitions of RDPT and KPD will be improved through the regulation revision. Hopefully we could do it this year," he said to Press last week.

In the regulation No. V.A.3 on the securities firm license for investment manager activities deliberated last year, the IM activities are restricted only to the product under the management of Bapepam-LK. So far some IM managing their investors wealth is only based on the KPD scheme.

IM thus might be banned to manage wealth based on KPD which is out of the Bapepam control. But the capital market authority provides new way for such type of the RDPT like fund.

Chairman of the Indonesian Mutual Fund Managers Association (APRDI) Abiprayadi Riyanto said the association and the capital market authority have talked about the regulation revision but not formulated yet the recommendation.

"One of issues we discussed is about RDPT and KPD definition and application."

Djoko said the capital market authority also intends to revise the regulation on the calculation of the net assets value (NAV) of mutual fund which could use the established bond pricing agency.

The authority still studies the option to use reference from the bond pricing agency.

Now the securities adjuster established here include PT Penilai Harga Efek Indonesia (PHEI/Indonesia Bond Pricing Agency). (Bisnis/iaa)

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