Danantara Takes Over Four State-Owned Investment Managers with Rp170 Trillion in AUM

PT Danantara Asset Management (DAM) has officially signed a Share Purchase Agreement to acquire PT Mandiri Manajemen Investasi, PT BRI Manajemen Investasi, PT BNI Asset Management, and PT PNM Investment Management. The signing ceremony took place on Wednesday, 22 July 2026, marking the transfer of control of the four state-owned investment managers to DAM. This strategic step is part of DAM’s commitment to strengthening the foundation of the national investment management industry to make it more competitive globally. Collectively, the four companies recorded Assets Under Management (AUM) of more than Rp170 trillion as of June 2026. This scale of managed funds, supported by the experience, distribution networks, investment capabilities, and investor bases of each company, is a crucial strength for broadening public access to investment products while enhancing the competitiveness of Indonesia’s investment management industry.

Danantara Indonesia Chief Operating Officer Dony Oskaria stated that the takeover is not merely a share purchase transaction but a major step to build new strength in the national investment management industry. He said this is a significant move to strengthen the national investment management industry, noting that the four companies possess strong experience, networks, and capabilities, collectively managing over Rp170 trillion in funds. Danantara Indonesia will ensure all these strengths are directed through improved strategies and governance to grow stronger, become more competitive, and provide greater added value for the Indonesian economy. Within the next month, the four asset management companies will merge to become the largest asset management firm in Indonesia, a process that is part of the streamlining being carried out by Danantara Indonesia. With an integrated business model, the consolidated company will expand investment access for both retail and institutional investors while delivering more competitive investment solutions to meet evolving market needs.

PT Mandiri Manajemen Investasi President Director Hardiyanto Pilia said this foundation is crucial capital for the new entity to grow as one of Indonesia’s leading investment management companies. He described the consolidation as a strategic step to build a national investment management institution with greater scale, capability, and governance, expressing optimism that the Indonesian investment management industry will become more competitive and strengthen investor confidence, both domestically and globally. In the retail segment, the consolidated company will develop thematic investment products and expand access through the Himbara bank network, aligning with the growth of national Single Investor Identification numbers which have surpassed 20 million investors. For 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. Hardiyanto noted the significant momentum ahead, stating that with a growing retail investor base and stronger institutional trust, the synergy of these four entities will make the consolidated company the investment partner of choice for millions of Indonesians.

PT BRI Manajemen Investasi President Director 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, which serves as important capital in strengthening the consolidated company’s ecosystem. He explained that with the strength of distribution networks and a continuously growing retail investor base, this merger will expand public access to trusted investment products while accelerating the deepening of capital markets. Meanwhile, PT BNI Asset Management President Director Ari Adil emphasised that BNI AM’s balanced business composition between retail and institutional segments, with an AUM of Rp29.59 trillion as of June 2026, will be a key strength in reinforcing the consolidated company’s capabilities. He expressed optimism that the merger will strengthen national investment management capacity through synergy of investment expertise, product innovation, governance enhancement, and a more solid and competitive business scale. PT PNM Investment Management President Director Ade Santoso Djajanegara affirmed 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. He stated that this collaboration is an important step to build an investment management institution that is not only stronger in business terms but also capable of expanding economic benefits and encouraging more sustainable growth. The signing of this agreement marks a milestone in strengthening the national investment management industry, with the integration process to be carried out in stages.