Investors looking to Asian opportunities invariably focus almost exclusively on China but Indonesian investment managers are making a case that their country is in an early phase of the economic development cycle and represents opportunities just as significant as their higher profile northern neighbour.
Leading the charge downunder is Mandiri Investasi, the investment arm of Indonesia's Mandiri Bank, Indonesia's largest retail bank that has already attracted the attention of Australia's Commbank with some joint retail ventures.
Abiprayadi Riyanto, president director of Mandiri Investasi, said they are one of the nation's leading asset managers with $2.2 billion in FUM, 60% of which is sourced from overseas institutions.
Riyanto, who has lead Mandiri Investasi since 2004 after previous roles with ABN Amro and MeesPierson Finas Investment Management, said after establishing a range of money market and fixed interest funds they have in the past few years created strong expertise in domestic equities to service local and overseas institutional investors.
"Indonesian investors are very deposit minded but growth in the equity market is turning their interest to equity funds. We raised $60 million in just the last four months with some highly successful product launches," said Riyanto.
Riyanto said overseas investors wanting to gain exposure to the Indonesian bourse can do so through discrete mandates or participating in wholesale pooled funds. "There are no capital controls in Indonesia which makes investing by overseas entities very easy."
The growth in consumer spending being fuelled by their young population is creating pockets of considerable wealth and this is contributing to rapid development in telecommunications. Illustrating this, Indonesia is home to the second largest population of Facebook and Twitter users.
Mandiri Investasi is represented in Australia through AFM Investment Partners.
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