Regulatory Alerts2024-12-23
Added · Updated
OJK Regulation No. 33 of 2024 on the Development and Strengthening of Investment Management in the Capital Market
This OJK Regulation allows Mutual Funds to receive loans from Financial Services Institutions and/or Securities Funding Institutions, provided the loans are short-term (maximum 20 trading days) and do not exceed 10% of the Net Asset Value. It also permits Mutual Funds to provide loans in the form of Securities to Clearing and Guarantee Institutions, with the amount of securities lent not exceeding 30% of the Net Asset Value. Investment Managers must disclose these loan activities in contracts and prospectuses and submit monthly reports to the OJK by the 15th of the following month. Furthermore, the regulation sets specific portfolio composition requirements for Mutual Funds investing in foreign securities, including a minimum of 85% in domestic or specific Indonesian-related foreign securities for general funds, and a minimum of 51% in foreign sharia securities for Sharia Mutual Funds Based on Foreign Sharia Securities.
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