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1999 Annual Report:
Investment Funds Investment Fund developments in 1998 were also influenced by the national economic decline. Total funds or Net Asset Value held by Investment Funds at the end of 1998 was Rp2.99 trillion, a decrease of 39.2% compared to the end of 1997 of Rp4.92 trillion. Of the total funds collected, 63% was in Fixed-income Investment Funds, 18% in Equity Investment Funds, 17.4% in Discretionary Investment Funds, and 1.3% in Money Market Investment Funds. Of the total portfolio managed by Investment Funds, the assets of Fixed-Income Investment Funds decreased 44.9%, from Rp3.4 trillion in 1997 to Rp1.9 trillion in 1998 and Money Market Investment Funds rose 48.4%, from Rp25.4 billion in 1997 to Rp37.7 billion at the end of 1998. In depressed situation which affected Investment Funds, Investment Managers were still optimistic about the development of this industry. This was reflected by the addition of 4 Investment Funds, so that the number of Investment Funds became 81 compared to 77 Investment Funds in the previous year, a 5.2% increase. At the end of 1998 the number of Investment Fund investors was 15,482 unit holders, of which 97.5% were local investors and the remaining were foreign investors. This condition is expected to have a positive impact in developing potential domestic investors in Indonesian capital market industry. As a follow-up of Bapepam’s rule No.II.F.4 on Investment Fund Examinations, Bapepam conducted research on Investment Fund Examination Procedures in order to enhance Investment Fund Surveillance and Protection to investors.
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