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CAPITAL ASSET MANAGEMENT AIMS AUM IDR 500 M

(id.beritasatu.com)

PT Capital Asset Management, a subsidiary of PT Capital Financial Indonesia Tbk (CASA), aims to increase its assets under management (Asset Under Management / AUM) by 150% to Rp 500 billion until the end of the year.

Director of Capital Financial Hengky Setiono said the AUM surge will be endeavored by targeting several customers of PT Bank Capital Tbk who are ready to invest in the capital market.

"We are cooperating with Bank Capital, which is a sister company to market the company's products. With this collaboration, we are confident that we can achieve the target with optimal integration of all our subsidiaries and affiliates, "explained in Jakarta, recently.

Capital Asset Management is an investment manager that was just established in 2013. Until now, four company products have been launched, such as money market funds, stocks, mix, and fixed income.

"This year, we also intend to launch a US Dollar mutual fund product. The launch will be adjusted to market conditions, "he added.

Meanwhile, Capital Financial, a company that has just listed its shares as the 10th issuer on the Indonesia Stock Exchange (BEI) this year, plans to boost its life insurance business to boost performance.

The company, which is engaged in financial services and investment, is targeting to earn Rp 2 trillion in revenue this year or grow 10 times compared to last year which was around Rp 230 billion. Net profit is projected to reach Rp 13 billion or a significant increase compared to last year's Rp 3 billion.

Director of Capital Financial Hengky Setiono previously said the potential for the life insurance business is still large. The penetration of the life insurance industry in Indonesia is still small, only 1.1% of the Gross Domestic Product (GDP).

"Compare it with neighboring countries like Singapore and Thailand, the penetration can be 4.5-6.5% of GDP. In addition, the growth space is still wide open. "Of the 240 million people in Indonesia, around 66% are of productive age, which is 19-55 years old," he said.

Meanwhile, according to him, there are not many players in the Islamic life insurance industry. Until now only four companies. On the other hand, the Muslim community in the country is the largest in the world. The penetration of Islamic insurance is not large, around 0.08% of GDP.

"The penetration of the life insurance industry in Indonesia is still small, only 1.1% of the Gross Domestic Product (GDP)”

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