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Thursday, February 4, 2010

KPD and RDPT's regulation will launch next week

BI/capital market
3/2/10
By Irvin Avriano A.

KPD and RDPT's regulation will launch next week

JAKARTA: Most of the fund management players in the capital market will take an ease for a while.

Capital Market and Financial Institution Supervisory Agency (Badan Pengawas Pasar Modal dan Lembaga Keuangan/Bapepam-LK) is intended to allow matured discretionary fund (kontrak pengelolaan dana/KPD) to be extended until the new regulations approved by them.

The maturity is allowed to be extended until the approval of new regulations about the fancy-capital-market-product is formed.

Bapepam-LK Chairman Ahmad Fuad Rahmany said the capital market authority is make a serious effort to establish new rules of the discretionary fund and the bilateral KPD this month.
"We will allow a contract which is due this year to be extended, discussion of the new rules is have not finished yet, hopefully soon, this February when he could," said Fuad to the press today.

Investment Management Bureau Chief of Bapepam-LK Djoko Hendratto, who is in charge of mutual fund and investment manager, said the stock market authority plans to issue draft of new regulations that will legislate the KPD next week.

He explained the capital market authority also plans to revise the rules on private equity fund (reksa dana penyertaan terbatas/RDPT) a long with the KPD's new regulations. Revisions, he said, including the discourse to lower the minimum investment on that type of product.
"The plan is next week to speed up the process."

He explained that the regulations' draft would also accompanied the publication of the draft revision of the RDPT, The authority has discoursed that seemed will lower the minimal limit of investment to Rp1 billion from previously Rp5 billion.

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