Issuance of a limited participation mutual fund (RDPT) by PT PNM Investment Management to support small-medium enterprises (SME) in Indonesia.
PT PNM Investment Management has launched a limited participation mutual fund (RDPT) that will invest in the productive finance of Indonesian SMEs. This Mutual Fund has been registered with the Financial Services Authority since December 2018.
The mutual fund's issuance is handled by PT PNM Venture Capital, a subsidiary of PT Permodalan Nasional Madani (Persero).
According to Arief Mulyadi, President Director of PT Permodalan Nasional Madani, the issuance of Limited Participation Mutual Funds was intended to encourage subsidiaries to become more modern and professional.
"Because when PNM Venture Capital enters the capital market, we see not only ourselves (PT PNM ed), but also investors, regulators, and professional supporters reacting." "We think it will be more modern and professional," Arief said on the sidelines of the signing of the PNM Ventura Capital MTN Issuance Agreement at the PT PNM Investment Management Prosperity Fund Meeting Room at Taspen Tower 10th Floor, Jalan Jenderal Central Jakarta on Tuesday (29/1/2019).
The PNM Ventura Capital business, according to Arief, was making its first foray into the capital market. It is typically packaged as a mutual fund for a small number of investors.
He explained that the proceeds from the sale of Limited Participation Mutual Funds were used for working capital, joint venture financing, and equity participation.
When asked about the contribution from PT PNM's subsidiary, Arief said it was there, but not in the amount planned. "However, the RKP for 2018 is quite significant." "However, we are fortunate in that PNM surpassed the 2018 RKP target," Arief said.
The Multisectoral VII PNM RDPT has an underlying MTN PNM VC series A of Rp250 billion for this initial stage, according to Bambang Siswaji, President Director of PNM Investment Management.
Furthermore, the value of this RDPT will be increased to a maximum of Rp 500 billion in the near future with the issuance of an additional MTN PNM VC series B underlying.
According to him, the MTN PNM series A has a 5-year tenor and will mature on January 30, 2024.
According to Bambang, PT PNM Investment Management focuses on producing traditional and sharia RDPT products to support the development of the real sector, particularly infrastructure, prospective foreign exchange generating industries, and sustainable energy, as well as the SME segment.
According to Feber Netyantaka, Director of PT PM Venture Capital, the goal of using MTN funds is to provide additional working capital for SMEs that have the potential to grow while posing measurable risks.
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