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Jakarta, CNBC Indonesia – The government has issued Government Regulation (PP) Number 73 of 2020 on Initial Capital for Investment Management Institutions (LPI). The government has set the seed capital for the Sovereign Wealth Fund (SWF) of IDR 75 billion.
SWF Indonesia is said to be called the Indonesian Investment Authority (INA).
The Director General of State Assets (DJKN) at the Ministry of Finance, Isa Rachmatawarta, said his party had formulated a strategy so that the initial capital set at 75 trillion rupees would not suffer losses.
The government, Isa said, will measure the profit or loss of the LPI in a few years. This means that if the LPI suffers a loss, it is not measured by the investment that comes from a single company.
“We see the horizon that we set for ourselves in the LPI Board of Directors. For example, the horizon is 5 years, how much is going to be achieved? Well, there can be big gains, maybe some will win a little, maybe there will be a cut losses and so on, “Isa explained when he held a press conference on Friday (12/18/2020).
“But as a five-year portfolio, we hope and will keep the portfolio profitable,” continued Isa.
Therefore, according to Isa, it is important to be able to elect members of the LPI Board of Directors who are professionals and have a good reputation. So that the Board of Directors is at the forefront in the placement of investor investments.
Even when the initial investment value of the LPI decreases, Isa said there is a possibility that the government will increase its capital.
“Those who avoid losses will be made a lot first. Even if this is a possibility (loss). So we can see that a lot of LPI is being prepared carefully and well. So that we can prevent these losses,” Isa said.
“As for capital, if it goes down, the government will probably add more,” Isa said.
However, Isa is optimistic that the LPI can avoid losses, because the LPI is not a financial institution like a bank or an insurance company, where there is a minimum capital requirement.
“LPI is not a financial institution or an insurer. LPI is an investment manager, there is no minimum amount (investment). Indeed, the more the merrier, it does not mean that there is a lower limit that must always be closed ”, explained the former head of Insurance.
[Gambas:Video CNBC]
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