Business · Companies · 2 hrs ago
Danareksa combines four state-owned investment managers in Indonesia
Danareksa has combined four state-owned investment managers into one company in Indonesia.
The firms are Mandiri Investment Management, BRI Investment Management, BNI Asset Management and PNM Investment Management.
The merged company says it manages Rp172.5 trillion in assets, plus about Rp13 trillion in advisory assets.
Company executives gave different rankings: one called it Indonesia’s largest manager, while Danantara chief Rosan Roeslani described it as the second largest, citing an estimate of about Rp150 trillion.
The industry includes about 92 investment managers, and around 32 million people in Indonesia invest in mutual funds.
Executives say the market has room to grow, as Indonesia’s managed assets are a relatively small share of its economy and financing relies heavily on banks.
Danareksa aims to manage Rp192 trillion to Rp200 trillion by 2027.
Danareksa combined four state-owned investment managers in Indonesia into one company.
The new company reported assets under management of Rp172.5 trillion and assets under advisory of about Rp13 trillion.
Its leaders gave differing accounts of its national ranking: one called it the largest manager by assets under management, while another called it the second largest.
The company said it has about 1 million retail investors, 375 institutional investors and 110 mutual fund products.
It aims to increase assets under management to Rp192 trillion–Rp200 trillion by 2027.
- Who
- PT Danareksa Investment Management Indonesia, formed by combining four state-owned investment managers.
- What
- The four companies were merged into one investment management company.
- When
- The merger was announced on November 11, 2026.
- Where
- Jakarta, Indonesia.
- Why
- The company said the merger was intended to strengthen its position in the capital market; Danantara’s CEO also cited the potential to support alternative funding and long-term investment.
Hardiyanto Pilia
Rosan Roeslani
Company ranking
Hardiyanto Pilia
Hardiyanto said the company was Indonesia’s largest investment manager, citing Rp172.5 trillion in assets under management.
Rosan Roeslani
Rosan described it as the second largest, citing combined assets of about US$8.5 billion, or roughly Rp150 trillion.
Danareksa announced the merger of four state-owned investment managers in Jakarta.
The company aims to reach Rp192 trillion–Rp200 trillion in assets under management.
- Companies combined
- PT Mandiri Investment Management, PT BRI Manajemen Investasi, PT BNI Asset Management and PT PNM Investment Management
- Assets under management
- Rp172.5 trillion
- Assets under advisory
- About Rp13 trillion
- Investors
- About 1 million retail and 375 institutional investors
- Mutual fund products
- 110
- 2027 AUM target
- Rp192 trillion–Rp200 trillion
3 sources
What people are saying
At its current position, we are at Rp172 trillion, the largest in Indonesia, as a result of this merger.
Our retail investors, combined as what we say is our strength, now number 1 million, and our institutional clients are also numerous, with 375 institutions.
So, we see that the potential for growth in our asset management industry is still very, very large going forward.