JAKARTA, RAKYAT NEWS – STAR Asset Management (AM) has partnered with DANA to introduce mutual fund investment services, now available in the ‘finance’ category on the DANA app. STAR AM serves as the first Investment Manager (MI) on the platform.

STAR Asset Management is a financial services company specializing in asset management in Indonesia. The company manages investment portfolios on behalf of its clients, which can include mutual funds, bonds, equities, and other financial instruments. STAR AM aims to help individuals and institutions achieve their financial goals through professional management of their assets.

By offering various investment products, such as the STAR Money Market Fund, STAR AM allows investors, including beginners, to participate in financial markets with tailored options that match their risk appetite and investment goals. As of mid-2024, STAR AM managed significant assets across various asset classes, placing it among the top asset management firms in Indonesia.

The company partners with fintech platforms like DANA to expand access to investment opportunities, making it easier for the broader population to invest in mutual funds and other financial products.

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Hanif Mantiq, CEO of STAR AM, emphasized the company’s commitment to helping the public achieve their financial aspirations through this collaboration. “With this partnership, at least 180 million Indonesians now have easy and affordable access to mutual fund investments,” said Hanif during a launch event in Jakarta on Thursday.

Yattha Saputra, CFO of DANA Indonesia, expressed enthusiasm for the partnership, which aims to improve financial literacy and inclusion across the country. “The introduction of mutual fund features aligns with our mission to help Indonesians better understand financial management and access digital financial services, from insurance to investments. We hope to foster a healthy, cashless society with financial freedom,” Yattha added.

The first product available is the STAR Money Market Fund, designed for beginner investors due to its strong reputation. According to Yattha, the STAR Money Market Fund offers low-risk investment with a one-year performance of 5.04% as of July 31, 2024, outperforming the average bank deposit interest rate. The fund’s stable growth and high liquidity make it an ideal choice for new investors.

As of August 12, 2024, over 290,000 customers have registered for STAR AM’s services through the DANA app. By the end of July 2024, STAR AM managed over IDR 17.4 trillion in public investments, with more than IDR 7.8 trillion in mutual fund assets across various asset classes. This makes STAR AM the 18th largest Investment Manager in Indonesia out of the 92 registered with the Financial Services Authority (OJK).

This collaboration reflects a broader trend of financial technology (fintech) firms partnering with asset management companies to provide innovative investment solutions to the public. As Indonesia’s fintech ecosystem continues to grow, more partnerships like this are expected to emerge, expanding access to investment opportunities for millions of people and driving the country’s financial inclusion agenda forward. (Uki Ruknuddin)