XTRA Launches, Sharia-Compliant Gold Investment Now Tradeable on the Exchange
The development of Indonesia’s capital market is marked not only by a growing number of investors but also by innovations that broaden the range of investment instruments. Today, the market entered a new chapter with the introduction of an Exchange Traded Fund (ETF), a Mutual Fund in the form of a Collective Investment Contract based on gold, whose units are traded on the Indonesia Stock Exchange (BEI). This instrument provides a new way for investors to gain exposure to gold price movements through trading on the BEI. Its presence represents an important step in enriching investment alternatives while expanding public access to gold assets through a transparent and efficient capital market mechanism.
Marking this significant milestone, PT Trimegah Asset Management (Trimegah AM) officially launched the Trimegah Syariah ETF Emas with the trading code XTRA (ticker: XTRA), a gold-based ETF managed in accordance with sharia principles. The launch of XTRA reflects Trimegah AM’s commitment to continuously delivering innovative investment solutions, while contributing to the diversification of investment instruments in the Indonesian capital market.
“The capital market continues to evolve in line with the increasingly diverse needs of investors. We believe innovation must be able to provide more inclusive and efficient investment access that is relevant to market dynamics. Through XTRA, we aim to offer the public a new way to invest in gold assets via an instrument traded on the Indonesia Stock Exchange, without compromising the ease, transparency, or governance that characterise capital market investment,” said Antony Dirga, President Director of PT Trimegah Asset Management.
Gold has long been an asset widely used by investors as part of a portfolio diversification strategy. However, investing in gold no longer needs to be synonymous with physical ownership. Through XTRA, investors can gain exposure to gold price movements through an instrument traded on the BEI, allowing transactions to be carried out easily through securities firms during exchange trading hours.
Beyond providing ease of access, XTRA is managed according to sharia principles, making it an alternative gold-based investment for investors who prioritise sharia compliance. Through the ETF mechanism, investors can enjoy price transparency and transaction flexibility via the capital market.
Collaboration in Building the Gold ETF Ecosystem
The launch of XTRA is the result of collaboration between PT Trimegah Asset Management and various institutions within the Indonesian capital market ecosystem, working together to support the creation of a secure, transparent, and efficient gold-based investment instrument.
In the management of XTRA, PT Trimegah Sekuritas Indonesia Tbk and PT Mirae Asset Sekuritas Indonesia act as Dealer Participants providing liquidity for the ETF units. PT Bank HSBC Indonesia serves as the custodian, safeguarding the underlying securities that constitute the investors’ assets and independently supervising the fund management.
Meanwhile, PT Pegadaian (Persero) acts as the Bullion Bank, supporting the provision of gold assets in the form of Electronic Gold Receipts (EGR) as the product’s underlying, as well as storing the physical gold backing the issued EGRs.
This collaboration among credible institutions forms a crucial foundation for building a Gold ETF ecosystem in Indonesia that connects the capital market with real assets. The synergy is expected to broaden public access to gold investment through an integrated mechanism.
Why XTRA?
As a gold-based ETF, XTRA offers several advantages for investors, including serving as an easily accessible gold investment alternative for both retail and institutional investors. The instrument provides exposure to gold price movements as a portfolio diversification asset.
Each ETF unit is fully backed by gold and traded on the Indonesia Stock Exchange like a stock, allowing it to be bought and sold during exchange trading hours. Transactions can be conducted through securities firms without the need to store physical gold, while offering price and investment portfolio transparency. Furthermore, XTRA is managed in accordance with sharia principles.
The launch of XTRA complements Trimegah AM’s range of investment solutions, which includes Money Market Funds, Fixed Income Funds, Balanced Funds, Equity Funds, Exchange Traded Funds (ETF), and Discretionary Fund Management Contracts.