Published on 21/02/2025 GMT+7 Reading time 2 minutes
Daya Anagata Nusantara Investment Agency (Danantara) has the potential to surpass GIC or the Government of Singapore Investment Corporation (GIC) in terms of assets under management, a report by the Financial Times Stock Exchange (FTSE) Russell has revealed.
In Southeast Asia, Danantara is not the first. GIC is one of three major investment entities in Singapore that manages sovereign wealth funds and foreign exchange reserves established in 1981. The other two entities are Temasek Holdings (Private) Limited and the Monetary Authority of Singapore (MAS).
Wanming Du, Policy Director at FTSE Russell said that if the estimated funds prepared for Danantara are realized, it is projected to rank seventh in the world with a managed value reaching US$900 billion (Rp14,657 trillion) or assets under management (AUM).
According to the Sovereign Wealth Fund Institute, GIC controls the eighth largest sovereign wealth fund in the world, currently with $400 billion in assets under management.
Wanming Du said that she was still waiting for details related to the structure and assets to be managed but added that Danantara's presence is expected to have a positive impact on the Indonesian investment market.
"With assets under management estimated at around US$900 billion, Danantara has the potential to become one of the world's largest sovereign wealth funds, even surpassing Singapore's GIC," Wanming Du said on Thursday, February 20, 2025.
FTSE is optimistic that Indonesia will further strengthen its investment position in the global market and increase its attractiveness to domestic and foreign investors.
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