Stockbit and Fullerton Fund Management partner to tap Indonesian fund management market

By Leandra Monteiro

PT Stockbit Investa Bersama (Stockbit) and Fullerton Fund Management Company Ltd (Fullerton), have entered into a strategic partnership to address the wealth management needs of Indonesian investors.

Stockbit, Indonesia’s digital investing platform and Fullerton, an established Singapore-based investment specialist, have jointly acquired PT Ayers Asia Asset Management, an Indonesian asset management firm based in Jakarta. With this acquisition, they will collaborate to manufacture and distribute quality investment solutions for a wide spectrum of investors across retail, intermediaries and institutions.

“Stockbit sincerely appreciates the guidance from the Financial Services Authority (OJK) and would like to thank OJK for their continuous support. We are delighted to partner with Fullerton, an award-winning fund manager with deep investment expertise and strong focus on risk management. We believe Fullerton’s strong track record to deliver quality investment solutions will benefit investors in Indonesia,” said Sigit Kouwagam, CEO and Co-founder of Stockbit.

“Fullerton is excited to enter the Indonesian market with Stockbit, a fast-growing fintech player with a prominent brand and deep understanding of the diverse needs of investors in Indonesia. Their ambition to making investment solutions widely accessible, complements our commitment to design quality offerings to meet the needs of this rapidly expanding and dynamic market,” said Jenny Sofian, CEO, Fullerton Fund Management.

Indonesia’s large population and strong growth prospects will drive demand for financial products and services. Although the number of investors in Indonesia has grown by 38% year-on-year in 2022, the asset management market remains underpenetrated when compared to neighbours in the region. Indonesia’s mutual fund’s asset under management is still less than 4.0% of GDP, which is far below Malaysia, Thailand and India where this ratio is 35.8%, 30.3% and 15.8% of GDP respectively.

This strategic partnership brings together complementary capabilities. Stockbit’s digital investing platform and local insights combined with Fullerton’s investment expertise will allow the collaboration to bring innovative products and solutions to investors in Indonesia.