BSI Launches 6 Sharia Mutual Fund Products

Dream - PT Bank Syariah Indonesia Tbk (BSI) issued six new sharia mutual fund products to enhance public interest in investing in the sharia capital market. The six new sharia mutual fund products are a collaboration between the company and several investment managers in Indonesia.

"6 Sharia Mutual Fund Products"

Sales & Distribution Director of BSI, Anton Sukarna, explained that BSI collaborated with Mandiri Manajemen Investasi, Bahana TCW Investment Management, BNP Paribas Asset Management, Batavia Prosperindo Aset Manajemen, Manulife Aset Manajemen Indonesia, Sucorinvest Asset Management, and Trimegah Asset Management to jointly expand the sharia financial inclusion in the capital market. The six sharia mutual fund products are Trimegah Kas Syariah, TRIM Syariah Berimbang, TRIM Syariah Saham, Sucorinvest Sharia Money Market Fund, Sucorinvest Sharia Sukuk Fund, and Batavia Dana Saham Syariah.

"The six products are included in the class of Islamic money market mutual funds, Islamic fixed income mutual funds, Islamic mixed mutual funds, and Islamic equity mutual funds. The latest product adds to the Islamic mutual fund products at BSI."

According to Anton, in the Market Outlook 2024 event with the theme "Finding Silver Linings in A Year of Uncertainty", quoted on Thursday, October 26, 2023.

Anton said, the launch of these six latest sharia mutual fund products is a form of BSI's commitment to be present as a financial, spiritual, and social companion for customers. Previously, BSI also already has and markets several sharia mutual fund products.

With the launch of this latest sharia mutual fund product, BSI has marketed more than 20 sharia mutual fund products with various asset classes according to customer risk profiles and needs. "Sharia mutual funds are targeted for all customer profiles. This is because sharia mutual funds at BSI consist of various asset classes that can be adjusted according to customer needs, goals, and risk profiles through these products. With that, customers can achieve blessings through sharia mutual fund investments," he said.

BSI said that some of the advantages of sharia mutual funds at BSI are managed by professional investment management, high liquidity as it can be withdrawn at any time, transparency in investment development, and guaranteed in accordance with sharia by the National Sharia Council - Indonesian Ulema Council.

Anton said that for customers who are interested in buying mutual funds at BSI, it can be done through the nearest branch with investments starting from Rp100,000. "Currently, BSI is developing a system to be able to transact mutual funds digitally, so in the future, customers can transact digitally," he said.

Anton mentioned that sharia mutual funds, especially money market mutual funds, remain an attractive investment instrument amid uncertain economic and political conditions in 2024. BSI, as the largest Islamic bank in Indonesia, always provides the best services and products for every customer.

Chief Commissioner of BSI, Muliaman D Hadad, presented the economic projections and investment world of Indonesia until the end of 2023, especially in the midst of the political situation of general elections. According to him, the performance of the sharia banking sector still remains as one of the sectors that will be resistant amid domestic and global economic uncertainties. This is shown by the performance of the sharia banking industry which continues to grow positively during 2023, even exceeding national growth.

Muliaman said that the growth of assets, financing, and third-party funds (DPK) has become one of the supporting factors for the positive growth of the Islamic banking industry in 2023. The growth of Islamic banking assets has grown by 2.53 percent year to date (YtD), while the national banking sector has experienced a decrease of 0.5 percent YtD. "The same thing also happened with financing and DPK receipts. Financing in the Islamic banking sector grew by 6.95% YtD, exceeding the national banking sector's growth of 3.66% YtD. Meanwhile, DPK receipts in Islamic banking increased by 0.98% YtD, while the national banking sector decreased by 1.29% YtD," explained Muliaman.

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