This page summarises the Financial Services Authority (OJK) rules for the products we manage, so you can understand their features, your rights and the risks before you invest.
This summary is for education and is not an offer. The full rules are in the regulations themselves and in each product's documents, such as the prospectus, the collective investment contract or the management agreement.
Mutual funds
A mutual fund (Reksa Dana) is a vehicle that pools money from the investing public, which an investment manager then invests in a portfolio of securities.
Our mutual funds take the form of a collective investment contract (KIK): a contract between the investment manager and the custodian bank that binds the unitholders. The investment manager manages the collective portfolio, and the custodian bank holds its assets in collective custody. Your holding is recorded in units, each a share of the portfolio.
Types of mutual fund
- Money market fund
- Invests only in domestic money market instruments and/or debt securities issued for, or with a remaining maturity of, no more than one year.
- Fixed income fund
- At least 80% of net asset value (NAV) in debt securities.
- Equity fund
- At least 80% of NAV in equities.
- Balanced fund
- Invests in equities, debt securities and/or domestic money market instruments, at most 79% of NAV in each, and must hold both equities and debt securities.
- Capital-protected fund
- Designed to protect at least the initial investment at the end of the protection period, under the mechanism and conditions set out in its prospectus. Governed by OJK Regulation No. 48/POJK.04/2015.
Source: OJK Regulation No. 47/POJK.04/2015 on daily NAV announcements of open-ended mutual funds; OJK Regulation No. 48/POJK.04/2015 on protected funds, guaranteed funds and index funds.
The mutual fund we manage today: Mutual Funds.
Your rights as a unitholder
Every mutual fund's collective investment contract must give you at least the right to:
- receive confirmation of your unit holding;
- receive the annual financial statements;
- receive the daily NAV per unit;
- redeem or switch some or all of your units;
- receive the fund reports that capital market rules require;
- receive any distribution of investment returns; and
- receive your share of the proceeds if the fund is liquidated.
You can check your units yourself: Check Your Holdings at KSEI.
Key rules
- Redemption payment
- Within 7 exchange days of the investment manager receiving a complete redemption order.
- Confirmation
- Sent within 7 exchange days after units are issued, or after a complete redemption order is received.
- Limit per issuer
- A fund may not hold more than 10% of NAV in securities of any one issuer, with the exceptions the regulation sets out.
- Dissolution
- A fund must be dissolved, among other cases, if its total NAV stays below Rp10 billion for 120 exchange days in a row.
Source: OJK Regulation No. 23/POJK.04/2016 on mutual funds in the form of collective investment contracts, as amended.
Benefits and risks
Each fund's prospectus sets out its benefits and risks. A summary from our fund's prospectus:
- Benefits
- Diversification.
- Easy to redeem: the investment manager must buy back the units a holder sells.
- Professional management.
- No day-to-day administration or investment analysis for you.
- Transparency: the prospectus, NAV published every day and annual financial statements.
- Main risks
- Lower unit value: NAV can fall, and there is no guarantee it will always rise.
- Default by an issuer or another party.
- Changes in economic and political conditions, at home or abroad.
- Credit, industry and market risk.
- Liquidity: if redemptions are very high in a short time, payment can be delayed.
- Interest rates: bond prices move with interest rates.
- Dissolution and liquidation, and changes in regulation, including tax.
Source: prospectus of Reksa Dana Campuran Indo Arthabuana Golden Compass (update effective 1 September 2026), chapter VIII.
Individual portfolio management (PDNI)
PDNI is a service in which an investment manager manages a portfolio of securities and/or cash for one specific client, under a written agreement between the investment manager and the client.
- Agreement
- Signed by the investment manager and the client; the custodian bank may also sign.
- Initial amount
- At least Rp5 billion per client, in securities and/or cash. The value may later fall below Rp5 billion, for example because of market price movements.
- Separate records
- The investment manager must keep separate records for each client, apart from its own books.
- Risk description
- The investment manager must explain the investment risks to the client.
- Reports
- The custodian bank sends the client periodic portfolio reports, if the agreement provides for them.
Source: OJK Regulation No. 21/POJK.04/2017 on managing securities portfolios for individual clients.
Our service: Individual Portfolio Management.
Limited participation mutual funds (RDPT)
A limited participation mutual fund is a vehicle that pools money from professional investors, which an investment manager then invests in a portfolio of securities based on real-sector activities.
- Who can invest
- Professional investors only: investors who understand how an RDPT is structured, can afford its units and can analyse its risks.
- Minimum investment
- 1,000,000 units, an initial Rp1 billion, per unitholder; this minimum may not be held jointly by more than one party.
- Disclosure
- The investment manager must explain the product structure and risks in a disclosure document, and each unitholder confirms in writing on purchase that they understand them.
Source: OJK Regulation No. 34/POJK.04/2019 on limited participation mutual funds.
Asset-backed securities (KIK-EBA)
An asset-backed securities collective investment contract (KIK-EBA) is a contract between the investment manager and the custodian bank that binds the holders of the asset-backed securities. The investment manager manages the collective portfolio and the custodian bank holds it in collective custody. The asset-backed securities are issued by the KIK-EBA, and its portfolio consists of financial assets.
Those financial assets can include:
- receivables from commercial paper;
- credit card receivables;
- receivables from loans, or arising in future;
- government-guaranteed debt securities;
- credit enhancements; and
- future cash flows or future income.
The investment manager must send holders the KIK-EBA's audited annual financial statements by 31 March of the following year.
Source: OJK Regulation No. 65/POJK.04/2017 on issuing and reporting asset-backed securities in the form of collective investment contracts.
Infrastructure investment funds (DINFRA)
An infrastructure investment fund in the form of a collective investment contract (DINFRA) is a vehicle that pools money from the investing public, most of which an investment manager then invests in infrastructure assets.
- Portfolio
- At least 51% of NAV in infrastructure assets; the rest, at most 49%, in money market instruments or securities issued in Indonesia.
- Offering
- DINFRA units may be offered to the public or privately.
- Borrowing
- A DINFRA may borrow only to buy infrastructure assets that already produce income, up to 45% of the value of the assets bought.
Source: OJK Regulation No. 52/POJK.04/2017 on infrastructure investment funds in the form of collective investment contracts.
Our alternative investment services: Alternative Investments.
Your rights and duties as a consumer
As a prospective or existing client, you have the right, among others, to:
- safety in using a product or service;
- choose a product or service;
- get the product or service as it was offered;
- information that is clear, accurate, true, easy to find and not misleading;
- be heard on your views and complaints;
- advocacy, protection and dispute resolution;
- financial education;
- fair treatment and service; and
- compensation if a product or service does not match the agreement or the regulations.
Your duties include:
- listening to the explanation of a product or service before you buy;
- reading, understanding and following the agreement and product documents;
- acting in good faith;
- giving information and documents that are clear, accurate, true and not misleading;
- paying the agreed amount, price or fees; and
- taking part in dispute resolution as the rules provide.
Source: OJK Regulation No. 22 of 2023 on consumer and public protection in the financial services sector.
To make a complaint, see Client Complaints. To make sure you are dealing with the real Indo Artha, see Fraud Warning.
INVESTING IN MUTUAL FUNDS CARRIES RISK. BEFORE INVESTING, PROSPECTIVE INVESTORS MUST READ AND UNDERSTAND THE PROSPECTUS. PAST PERFORMANCE DOES NOT GUARANTEE OR INDICATE FUTURE PERFORMANCE.