Limitations in Portfolio Diversification Access Highlighted in the Era of 15 Percent Free Float in Indonesia's Market
Jakarta, VIVA – The adjustment to the weighting of the global Morgan Stanley Capital Index (MSCI), which emphasises a minimum free float limit of 15 percent, is estimated to bring significant changes to the structure of Indonesia’s capital market. This policy is deemed capable of increasing liquidity while expanding retail investor participation.
Data from the Indonesian Central Securities Depository (KSEI) records that the number of Single Investor Identifications (SID) has exceeded 20 million by the end of 2025, or a jump of around 37 percent annually. This surge indicates the growing role of retail investors in shaping market movements.
Amid the transformation of the domestic market, retail investors are considered to have the potential to become the main pillar of market stability. With a broader investor base, the distribution of share ownership becomes more even, thereby suppressing market volatility.
“In the midst of this new wave, retail investor participation will be the main determinant of market stability,” said Co-Founder of Pluang, Claudia Kolonas, quoted from a written statement on Thursday, 23 April 2026.
Behind these opportunities, Claudia highlighted the limitations in access to global portfolio diversification faced by retail investors in Indonesia. Claudia conveyed that some investors still have to use two to three investment platforms to manage various investment instruments, from domestic stocks, foreign stocks, to digital assets.
The multi-asset investment and trading platform, Pluang, responds to the issue of limited portfolio diversification access by introducing an investment product named Saham Indonesia. This service integrates direct access to more than 950 stocks listed on the Indonesia Stock Exchange (BEI), stocks on the US stock exchange, crypto assets, digital gold, crypto futures, to mutual funds within a single integrated ecosystem.
Service fragmentation also makes the portfolio rebalancing process less practical and time-consuming because investors can convert global products, such as US stocks and crypto assets, to stocks listed on the BEI—or vice versa—instantly without needing to transfer funds between platforms. Thus, portfolio management becomes more efficient, especially for new retail investors entering the market.
Claudia said that the Saham Indonesia product not only adds diversification access but is an effort to build infrastructure where 13 million users have registered and can manage their entire financial future in one grasp. This approach allows investors to access various instruments in one application while facilitating cross-asset portfolio management.