Bareksa and Tokopedia Launch Mutual Funds that Can Disburse on the Same Day

Aiming to increase the number of customers while increasing public financial literacy, today (23/4), the mutual fund marketplace Bareksa, Tokopedia, and Syailendra Capital launched a liquid online mutual fund service, which can be withdrawn and received in customer accounts on the same day (T+0) through the Tokopedia application.

Also attending the launch event was the CEO of Tokopedia, William Tanuwijaya. William told the media that currently Tokopedia has around 40 million unique users, through this strategic partnership it is hoped that it can add to the existing services on Tokopedia to users.

"We at Tokopedia want to invite more of the general public to buy mutual funds quickly and affordably. So that the Indonesian people can become investors starting with Tokopedia," said William.

The online mutual fund service, which is claimed to be the only one initiated by Bareksa and e-commerce service, targets to get one million customers in the first year with managed funds of up to billions of rupiah.

Bareksa herself has cooperate with Tokopedia selling mutual funds since the end of February 2018.

Asked how much investment was made by Bareksa and Tokopedia, Bareksa CEO Ady F Pangerang emphasized that the investment provided was a joint venture between Tokopedia and Bareksa, but was reluctant to mention the value of the investment.

"Later on, we will use the existing investment for marketing, operational, legal and educational activities for Tokopedia users," said Ady.

Syailendra Capital was chosen as Bareksa's partner because of Syailendra Capital's ability to carry out redemption in small to large amounts and Syailendra's capability to manage thousands of transactions per day.

Easy process

On this occasion, he was also informed about how Bareksa's mutual fund service works on the Tokopedia application. Only by using a Tokopedia account, users can then register themselves as mutual fund customers. Tokopedia's mutual fund products offer a minimum purchase of IDR 10.

"Later on using the E-Wallet on Tokopedia, users can top up via bank transfer, to then store it in the E-Wallet. According to the amount they want to buy for mutual funds, all can be deducted directly from the funds stored in the Tokopedia E-Wallet, " said Adi.

Other advantages that customers will get when buying mutual funds at Tokopedia are inclusiveness, security, convenience with a process that only takes 5 minutes, investors can sell investments directly, and can get returns of up to 7%.

"Another advantage is instant redemption that is, funds stored in mutual funds can be used for shopping at Tokopedia and auto sweep, where Tokopedia user's funds will automatically enter the mutual fund account," said Ady.

Bareksa currently has around 110 thousand mutual fund investors, a figure that is claimed to have jumped by more than 60% compared to December 2017. Bareksa has also recorded an increase in the amount of funds invested by customers to Rp850 billion as of April 9, 2018.

Supported by OJK

On this occasion, the Director of Investment Management of the Financial Services Authority, Sujanto, also supported the collaboration between Bareksa and Tokopedia in launching an online mutual fund service. Judging from the current trend, Sujanto said that the majority of mutual fund purchases began to be dominated by online.

"Perhaps it is because of the convenience and speed that most Indonesians choose in the end."

However, judging by the number of people who really understand mutual fund products, according to OJK, currently the number only reaches 23%. For this reason, it is important for Bareksa and Tokopedia to increase education activities for the general public regarding mutual funds.

As a regulator, OJK fully supports online mutual funds initiated by Tokopedia and Bareksa.

"If Tokopedia currently claims to have 40 million unique visitors, it means that it will be easier for Tokopedia to educate about mutual funds. I hope that not one million new customers are the target of this product, but all users on Tokopedia," said Sujanto .