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Tuesday, April 27, 2010

Mutual fund reached IDR117 trillion record

Tuesday, 27/04/2010 00:00 WIB

Irvin Avriano A.
Bisnis Indonesia

Mutual fund reached IDR117 trillion record

JAKARTA: Mutual fund hit the top at the level of IDR11758 trillion as from IDR116.88 trillion reached in March along with the soaring index which hit the record of 2,944 level.

Data of Bapepam-LK shows mutual fund asset under management increased by IDR698.13 billion as from last month. The similar data also shows the mounting investment product participation unit by 1.44 billion from 70.29 billion in March into 7173 billion yesterday.

Vice chairman of the Indonesian Mutual Fund Manager Association (APRDI) Legowo Kusumonegoro said the condition of stock and bond markets which break the records does not make him pessimistic with the domestic capital market condition.

"The stock price of Indonesian company is no longer cheap but we are optimistic the capital market continue to increase in the next 1-1.5 years. So investors would be better if prepare gradual buy strategy," he said yesterday.

Legowo who is also the president director of PT First State Investments Indonesia said the gradual investment strategy in relatively small investment could be independently applied or under the existing system in some sales agent banks.

Based on the case study in the company he chairs now investors tend to have mutual fund transaction based on the market condition. Unstable condition here is deemed risky with unpredictable market condition. (Bisnis/iaa)

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