Danantara Asset Management Takes Over Control of Four State-Owned Investment Managers

PT Danantara Asset Management (DAM) officially signed a Share Purchase Agreement (SPA) for shares in PT Mandiri Manajemen Investasi (MMI), PT BRI Manajemen Investasi (BRI MI), PT BNI Asset Management (BNI AM), and PT PNM Investment Management (PNM IM) on 22 July 2026. The signing marks the transfer of control of the four state-owned investment manager companies to DAM. This strategic move is part of DAM’s commitment to strengthening the foundation of the national investment management industry to make it more competitive and globally capable. Collectively, the four companies recorded Assets Under Management (AUM) of more than Rp170 trillion as of June 2026. Danantara Indonesia’s Chief Operating Officer, Dony Oskaria, stated that taking over control of the four companies is not merely a share purchase transaction, but a major step to build new strength in the national investment management industry. Within the next month, the four asset management firms will merge to become the largest asset management company in Indonesia. This process is part of the streamlining being carried out by Danantara Indonesia. He said that with an integrated business model, the consolidated company will expand investment access for both retail and institutional investors, while delivering increasingly competitive investment solutions to meet evolving market needs. In line with this strategic direction, the consolidated company will combine the strengths, experience, and advantages of each investment manager to build an institution with greater scale, capability, and competitiveness. President Director of PT Mandiri Manajemen Investasi, Hardiyanto Pilia, revealed that this foundation is crucial capital for the new entity to grow as one of the leading investment management companies in Indonesia. This consolidation is a strategic step to build a national investment management institution with increasingly strong scale, capability, and governance. Armed with this foundation, we are optimistic that the Indonesian investment management industry will become more competitive and able to strengthen investor confidence, both domestically and globally. In the retail segment, the consolidated company will develop thematic investment products and expand investment access through the Himbara bank network, in line with the growth of the national Single Investor Identification (SID) which has surpassed 20 million investors. Meanwhile, in the institutional segment, the company will strengthen investment management capabilities by expanding the investor base and providing more comprehensive investment solutions for various domestic institutions. We see great momentum ahead. With a growing retail investor base and increasingly strong institutional trust, the synergy of these four entities will make the consolidated company the investment partner of choice for millions of Indonesians. President Director of PT BRI Manajemen Investasi, Arief Budiman, described the merger as a strategic momentum to deepen retail market penetration. As of June 2026, BRI MI recorded a total AUM of Rp52.61 trillion with a strong retail customer base, serving as important capital to strengthen the consolidated company’s ecosystem. With the strength of distribution networks and a growing retail investor base, this merger will expand public access to trusted investment products while accelerating the deepening of the capital market. Meanwhile, President Director of PT BNI Asset Management, Ari Adil, emphasised that BNI AM’s strong business composition between retail and institutional, with an AUM of Rp29.59 trillion as of June 2026, will be one of the main strengths in enhancing the capabilities of the consolidated company. President Director of PT PNM Investment Management, Ade Santoso Djajanegara, added that PNM IM’s experience in developing inclusive investment, with an AUM of Rp10.31 trillion as of June 2026, will complement the consolidated company’s strength in expanding investment service access to the public.