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Tuesday, April 20, 2010

Mutual fund data is unveiled

Tuesday, 20/04/2010 00:00 WIB

Irvin Avriano A.
Bisnis Indonesia


Mutual fund data is unveiled

JAKARTA: BApepam-LK plans to re-open the mutual fund following the closure since the capital market creash in October 2008.

An informed invessment manager said information system will be called mutual fund industry (ARIA). "The soft launching of ARIA will be tomorrow (today)," he said in Jakarta yesterday.

He said the socialization on the mutual fund opening scheme has been held since Wednesday last week. Bapepam invited representatives of all investment managers in the stock exchange.

Bapepam alone has tried the system on the official website mid last year in which there was announcement that public could only access mutual fund monthly data and thus it was unlike the e-monitoring data presented previously.

Mutual fund data was closed since October 2008 shortly after the stock price slid to the bottom level of stock market due to the negative sentiment following the global capital market crash on the period.

At the time, Chief of Bapepam-LK Ahmad Fuad Rahmany said the reason for mutual fund closure was not only force majeure situation but also the call from mutual fund industry players and the improvement of information technology system.

The closure alone eventually made all mutual fund data issued by the investment managers (IM) and data of industry was no longer accessible both by public, investors, and IM.

IM participating in the ARIA socialization said the capital market authority also intends to restrict the data access as it needs log in and password. So, pubic could only have little part of data in the system.

When asked, Investment management bureau chief of Bapepam-LK Djoko Hendratto conceded the socialization information here. That was to show the preparedness of capital market authority in the mutual fund information improvement.

However, he refuted to unveil when the application system is to be released and how would be the form. "Just wait later. The point is that it is immediately opened. I don't want to promise anything. Just wait for tomorrow (today) to see the form," he said.

Separately, Taxation and regulation compartment head of the Indonesia Mutual Fud Managers Association (APRDI) Michael Tjandra Tjoajadi conceded the information and schedule of information system issuance.

Michael who used to be called for input in the Bapepam-LK policy making said there is positive side from the mutual fund disclosure for public and particularly for investor.

The information is expectedly not used by IM to cheat the other company. "We agree with the restriction of information as data is only for the relevant party." (Bisnis/iaa)

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