INA sees no need for bond issuance amid ample capital

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View all search resultsIndonesia Investment Authority (INA), the country’s first sovereign wealth fund, has no immediate plans to issue debt, because it has sufficient capital to fund investments, its new chief executive says, despite recent market volatility weighing on some of its portfolio.

ndonesia Investment Authority (INA), the country’s first sovereign wealth fund, has no immediate plans to issue debt, because it has sufficient capital to fund investments, its new chief executive says, despite recent market volatility weighing on some of its portfolio.

“There is no plan for now. We’ll see what funding needs look like going forward. Our capital is still enough. We continue to invest,” INA CEO Oki Ramadhana told reporters during a media briefing on Wednesday.

INA planned to deploy Rp 17 trillion (US$945 million) alongside co-investors this year, Oki said.

However, growth has largely plateaued over the past two years, edging up from Rp 144.3 trillion at the end of 2024 but remaining slightly below the 2023 level.

INA chief financial officer Eddy Porwanto has attributed the slowdown in AUM to volatility in the country’s stock market last year, as the fund’s original government seed capital remains concentrated in shares and time deposits at state-owned lenders Bank Mandiri and BRI.

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