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Monday, May 3, 2010

Mutual fund hit IDR118 trillion


Monday, 03/05/2010 00:00 WIB

Mutual fund hit IDR118 trillion

Irvin Avriano A.
Bisnis Indonesia

JAKARTA: Net assests value (NAV) of mutual fund industry stood at IDR118.22 trillion by end of April continuing the former record in May at IDR116.88 trillion. The position here leads ahead of the previous record at the level of IDR117.58 trillion on April 26.

Data of Bapepam-LK also shows the asset under management in April had had increased by 38.98 percent as from last year at the level of IDR86.06 trillion.

Director of PT Pacific Capital Investment Andreas Yasakasih said the record is due mostly to the mounting securities value which become the investment of mutual fund.

As to him, the mounting Jakarta Composite Index (JCI) standing at the level of 2,971 last week and the government bond (SUN) price still has robust potential in the next few months. But they still have potentials for correction in the limited amount which is still deemed normal.

"It could still be growing robust noting that many stocks have yet to reach at high prices. There are still remaining low future value of emitter stocks currently," he said to Bisnis recently..

Deputy Chairman of the Indonesian Mutual Fund Managers Association (APRDI) Legowo Kusumonegoro said the stock and bond market condition which continue to hit the record cannot make themselves pessimistic to the condition of domestic capital market.

Therefore, mutual fund investors are recommended to continue their investment using buy strategy in limited amount but gradually or commonly so-called dollar cost averaging (DCA).

Data of Bapepam-LK also shows the finance market mutual fund booked the largest rise among the other type of mutual fund by 10.63 percent or about IDR741.61 billion as from the IDR6.97 trillion position by end of March into DIR7.71 trillion in April. (Bisnis/iaa)

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