In welcoming the 79th Independence Day of the Republic of Indonesia, Dana Indonesia together with Star Asset Management (AM) officially launched mutual fund investment services as one of Dana Indonesia’s newest products.
“The presence of this service confirms the fund’s commitment to continue accelerating financial literacy and inclusion and realizing a financially healthy Indonesian cashless society,” said Dana Indonesia’s Chief Financial Officer (CFO), Jonanda Yattha Saputra at the Dana Indonesia Office on Thursday (15/8).
As is known, according to the results of the 2024 National Survey of Financial Literacy and Inclusion (SNLIK), the financial literacy index of the Indonesian population is only 65.43%. Meanwhile, the financial inclusion index is 75.02%. Yattha assessed that this shows that there are still many segments of society who do not have access to formal financial services, let alone feel the benefits of financial services.
“This is where the fintech industry, including Dana, plays an important role by offering digital financial services that are easily accessible and affordable. Fintech helps bridge the gap in financial inclusion and encourages more people to enter the formal financial system,” he added.
In its implementation, he continued, Dana Indonesia is working with STAR AM which will be the investment manager for the mutual funds offered.
“With leading technology and security systems, we ensure that users’ mutual fund information experience is always easy, safe and comfortable,” said Yattha.
Also read: Digital Banks Begin Targeting the Younger Generation with Mutual Fund Products
On the same occasion, Star Asset Management CEO, Hanif Mantiq revealed that as of August 12, 2024, the total number of Star AM customers who registered through the Dana application had reached more than 290 thousand customers.
“Star AM will continue to be committed to helping people achieve their financial aspirations. With this collaboration, at least 180 million Indonesians now have access to invest in mutual funds easily and cheaply,” he explained.
He added that Star AM’s Star Money Market Class Fund product will be available for the first time on the DANA application. This product, he continued, is considered very suitable for novice investors because of its high reputation.
“This credibility is proven through the superior performance of Star Money Market as a low-risk product with a 1-year performance as of July 31, 2024 of 5.04% where this return is higher than the average bank deposit interest rate. In addition, with its attractive, stable growth, and high liquidity with measurable risk, this mutual fund is very ideal for novice investors,” said Hanif. (Z-11)
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