Danantara Takes Over Four State-Owned Investment Managers
PT Danantara Asset Management (DAM) has officially taken over control of four state-owned enterprise (BUMN) investment managers: PT Mandiri Manajemen Investasi (MMI), PT BRI Manajemen Investasi (BRI MI), PT BNI Asset Management (BNI AM), and PT PNM Investment Management (PNM IM). The move was formalised through a Share Purchase Agreement signed on 22 July 2026.
The acquisition is part of Danantara’s strategy to strengthen the national investment management industry by consolidating four BUMN managers that collectively oversee funds of more than Rp 170 trillion as of June 2026.
Danantara Indonesia Chief Operating Officer Dony Oskaria stated that the transaction is not merely a transfer of share ownership, but a strategic step to build a large-scale investment management company capable of competing at the regional and global levels. ‘This is a major step to strengthen the national investment management industry. These four companies have strong experience, networks, and capabilities, and collectively manage funds of more than Rp 170 trillion. Danantara Indonesia will ensure all these strengths are directed through improved strategy and governance so they can grow stronger, more competitive, and deliver greater added value for the Indonesian economy,’ Dony said in an official statement on Thursday (23/7/2026).
He revealed that within the next month, the four investment managers will be merged into a single entity. The merger process is part of a streamlining programme being undertaken by Danantara Indonesia. According to Dony, the consolidated company will adopt an integrated business model expected to broaden investment access for both retail and institutional investors while offering more competitive investment products tailored to market needs.
PT Mandiri Manajemen Investasi President Director Hardiyanto Pilia said the consolidation will serve as the foundation for establishing a national investment management institution with greater business scale, capability, and governance. ‘This consolidation is a strategic step to build a national investment management institution with increasingly strong scale, capabilities, and governance. With that foundation, we are optimistic that Indonesia’s investment management industry will become more competitive and able to strengthen investor confidence, both domestically and globally,’ he said.
Hardiyanto added that the merged company will develop various thematic investment products for retail investors and leverage the distribution networks of Himbara banks to expand product distribution. The move is seen as aligned with the growth in the number of national Single Investor Identification (SID) accounts, which has surpassed 20 million investors. In the institutional segment, the company will broaden its investor base and deliver more comprehensive investment solutions for various domestic institutions.
PT BRI Manajemen Investasi President Director Arief Budiman said the merger of the four investment managers is a momentum to deepen retail market penetration. As of June 2026, BRI MI managed funds of Rp 52.61 trillion. ‘With the strength of distribution networks and a continuously growing retail investor base, this merger will broaden public access to trusted investment products while accelerating the deepening of the capital market,’ he stated.
PT BNI Asset Management President Director Ari Adil added that BNI AM, which has an AUM of Rp 29.59 trillion, will strengthen the consolidated company’s capabilities through synergy of investment expertise, product innovation, and enhanced governance. Meanwhile, PT PNM Investment Management President Director Ade Santoso Djajanegara said PNM IM’s experience in developing inclusive investment with an AUM of Rp 10.31 trillion will complement the new entity’s strength in expanding access to investment services for the public.
According to DAM, the integration process will be carried out in stages, prioritising prudential principles, regulatory compliance, and maintaining service continuity for customers and business partners. The company is optimistic that the consolidation will give birth to one of Indonesia’s largest investment management companies, capable of driving the growth of the fund management industry while strengthening the national capital market.