Indonesian digital investment platform Stockbit has teamed up with Fullerton Fund Management Company, a Singapore-based investment specialist, in a strategic partnership.
This collaboration is designed to cater to the burgeoning wealth management demands of Indonesian investors.
As a joint initiative, Stockbit and Fullerton have acquired PT Ayers Asia Asset Management, an Indonesian asset management firm headquartered in Jakarta.
The acquisition paves the way for a united front in creating and distributing superior investment solutions to a broad range of investors, including retail clients, intermediaries, and institutions.
CEO and Co-founder of Stockbit, Sigit Kouwagam, expressed gratitude towards the Financial Services Authority (OJK) for their ongoing support.
He also acknowledged Fullerton’s expertise in delivering high-quality investment solutions and emphasized its potential benefits to Indonesian investors.
Meanwhile, Jenny Sofian, Fullerton Fund Management’s CEO, welcomed the opportunity to serve Indonesia’s dynamic market alongside Stockbit.
The partnership comes at a crucial time as Indonesia’s robust growth prospects and sizable population continue to fuel demand for financial services.
Despite a 38% annual increase in the number of investors in 2022, the asset management market in Indonesia remains under-tapped, especially when compared to regional peers. In fact, Indonesia’s mutual fund assets under management constitute less than 4.0% of GDP, significantly lower than Malaysia, Thailand, and India.
Stockbit, with its digital-first approach, enables investors to curate portfolios that align with their risk profiles and investment objectives. Its products span a wide array of asset classes, including stocks, bonds, and mutual funds.
Fullerton, with 20 years of experience across asset classes, markets, sectors, and geographies, focuses on optimizing investment outcomes for clients, including sovereign wealth funds, insurance companies, family offices, private wealth, and retail channels.
The strategic partnership merges Stockbit’s digital investing platform and deep local insights with Fullerton’s robust investment expertise. This synergy is expected to introduce innovative products and solutions that cater to the evolving needs of Indonesian investors.
BusinessNewsAsia