Indonesia-based digital investing platform PT Stockbit Investa Bersama (Stockbit) and Singapore-headquartered investment firm Fullerton Fund Management Company Ltd (Fullerton), have entered into a strategic partnership to address the wealth management needs of Indonesian investors.

Fullerton said in a statement that both parties 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.

According to the statement, this strategic partnership brings together complementary capabilities.

It said 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.

Both firms noted the partnership represents an exciting opportunity to serve one of the most dynamic markets in Southeast Asia.

“Stockbit is 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, Chief Executive Officer and Co-Founder of Stockbit.

Fullerton Fund Management Chief Executive Officer Jenny Sofian also said the firm 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,” she said.

According to the statement, 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 percent year-on-year in 2022, it said the asset management market remains underpenetrated when compared to neighbors in the region.

It also said Indonesia’s mutual fund’s asset under management is still less than 4 percent of gross domestic product (GDP), which is far below Malaysia, Thailand and India where this ratio is 35.8 percent, 30.3 percent and 15.8 percent of GDP respectively.

Stockbit was founded with the mission to help Indonesians achieve a secured financial future.

The firm’s digital-first approach enables investors to build portfolios according to their risk profile and investment goals in a simple and optimal way.

Stockbit’s products and services covers a broad range of asset classes, including stocks, bonds and mutual funds.

Fullerton is an established, active investment specialist with 20 years of experience investing across asset classes, markets, sectors and geographies.

The firm has a strong focus on risk management, and its clients include sovereign wealth funds, insurance companies, family offices, private wealth and retail channels across Asia, Europe and the Americas.

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