BCA and Batavia Launch US Dollar-Based Sharia Mutual Fund
Jakarta (ANTARA) - PT Bank Central Asia Tbk (BCA), in collaboration with PT Batavia Prosperindo Aset Manajemen (Batavia), has launched a US dollar-denominated Sharia equity mutual fund named Batavia Gold Sharia Equity USD (BAGOS).
The product is aimed at customers with an aggressive risk profile who desire investment exposure to the gold and precious metals sectors.
“Amid global economic dynamics, the collaboration between BCA and Batavia through the launch of the Batavia Gold Sharia Equity USD Mutual Fund is expected to provide a variety of investment options for customers with an aggressive risk profile seeking exposure to the gold and precious metals sectors,” said BCA Director Haryanto T. Budiman in an official statement in Jakarta on Saturday.
BAGOS is an equity mutual fund managed by PT Batavia Prosperindo Aset Manajemen, while BCA acts as the mutual fund selling agent.
The product’s investment policy involves 80–100 per cent in Sharia-compliant equity securities and 0–20 per cent in Sharia money market instruments and/or Sharia deposits.
Its investment portfolio includes mining companies focusing on the gold, silver, precious metals, and copper subsectors, as well as diversification within the metal and mining industries.
BAGOS can be acquired with a minimum initial purchase of 10,000 US dollars. For subsequent purchases, the minimum transaction via the myBCA application is 100 US dollars, while through BCA branches, the minimum is 5,000 US dollars.
President Director of PT Batavia Prosperindo Aset Manajemen, Lilis Setiadi, stated that the product could serve as a diversification option for customers managing foreign currency portfolios.
“With the support of BCA’s extensive distribution network and reliable digital platform, we are optimistic that this product can be a diversification solution for customers in managing their foreign currency portfolios,” said Lilis.
BCA and Batavia have maintained a partnership since 2015, offering various mutual fund products, including money market, fixed income, index, and equity funds in both Rupiah and US dollar denominations.
BAGOS was launched on Thursday (10/9) and is available through BCA branches that handle mutual fund transactions. Customers who have previously purchased US dollar-denominated mutual funds at BCA can also purchase BAGOS through the Investment feature on the myBCA application.
BCA reminds investors that mutual funds are capital market products and not bank deposit products, and therefore are not covered by the deposit insurance programme. Mutual fund investments also carry the risk of losing part or all of the invested capital.