Both firms will collaborate to deliver investment solutions tailored to the needs of Indonesian investors JAKARTA, Indonesia and SINGAPORE, May 30, 2023 /PRNewswire/ --PT Stockbit Investa Bersama ("Stockbit") and Fullerton Fund Management Company Ltd ("Fullerton"), have entered into a strategic partnership to address the wealth management needs of Indonesian investors. Stockbit, Indonesia's leading digital investing platform and Fullerton, an established Singapore headquartered investment specialist, have jointly acquired PT Ayers Asia Asset Management, an Indonesian asset management firm based in Jakarta. With this acquisition, they will collaborate to manufacture and distribute quality investment solutions for a wide spectrum of investors across retail, intermediaries and institutions. Both firms noted the partnership represents an exciting opportunity to serve one of the most dynamic markets in Southeast Asia. "Stockbit sincerely appreciates the guidance from the Financial Services Authority (OJK) and would like to thank OJK for their continuous support. We are delighted to partner with Fullerton, an award-winning fund manager with deep investment expertise and strong focus on risk management. We believe Fullerton's strong track record to deliver quality investment solutions will benefit investors in Indonesia," said Sigit Kouwagam, CEO and Co-founder of Stockbit. "Fullerton is excited to enter the Indonesian market with Stockbit, a fast-growing fintech player with a prominent brand and deep understanding of the diverse needs of investors in Indonesia. Their ambition to making investment solutions widely accessible, complements our commitment to design quality offerings to meet the needs of this rapidly expanding and dynamic market," said Jenny Sofian, CEO, Fullerton Fund Management. Indonesia's large population and strong growth prospects will drive demand for financial products and services. Although the number of investors in Indonesia has grown by 38% year-on-year in 2022[1], the asset management market remains underpenetrated when compared to neighbours in the region.Indonesia's mutual fund's asset under management is still less than 4.0% of GDP, which is far below Malaysia, Thailand and India where this ratio is 35.8%, 30.3% and 15.8% of GDP respectively[2]. Stockbit was founded with the mission to help Indonesians achieve a secured financial future. Stockbit's digital-first approach enables investors to build portfolios according to their risk profile and investment goals in a simple and optimal way. Stockbit's products and services covers a broad range of asset classes, including stocks, bonds and mutual funds. Fullerton is an established, active investment specialist with 20 years of experience investing across asset classes, markets, sectors and geographies. It has a strong focus on risk management, and its clients include sovereign wealth funds, insurance companies, family offices, private wealth and retail channels across Asia, Europe and the Americas. This strategic partnership brings together complementary capabilities. Stockbit's digital investing platform and local insights combined with Fullerton's investment expertise will allow the collaboration to bring innovative products and solutions to investors in Indonesia. [1]Source: Indonesia Central Securities Depositary (KSEI) [2]Source: World Bank, based on latest available data (link) About Stockbit In 2013, Stockbit was established as a platform for investors to share stock-investing ideas, news, and information in real-time. In early 2019, Stockbit launched Bibit, the leading mutual fund robo-advisory investment app in Indonesia. As part of Stockbit Group, Bibit continues to focus on building innovative products and services to democratize investing in the country's capital market, as well as enabling its users to invest in diversified asset classes such as mutual funds, primary and secondary government bonds such as Obligasi Negara Ritel (ORI), Savings Bond Ritel (SBR), Sukuk Tabungan (ST), Sukuk Ritel (SR), Fixed Rate (FR), and stocks. In 2021, Stockbit entered the brokerage business through Stockbit Sekuritas. In 2023, Stockbit is entering the investment management industry in collaboration with Fullerton Fund Management. For more information, please visitbibit.idandStockbit.com. About Fullerton Fund Management Fullerton Fund Management Company Ltd ("Fullerton") is an active investment specialist, focused on optimising investment outcomes and enhancing investor experience. We help clients, including government entities, sovereign wealth funds, pension plans, insurance companies, private wealth and retail, from the region and beyond, to achieve their investment objectives through our suite of solutions. Our expertise encompasses equities, fixed income, multi-asset, alternatives and treasury management, across public and private markets. As an active manager, we place strong emphasis on performance, risk management and investment insights. Incorporated in 2003, Fullerton is headquartered in Singapore, and has associated offices in Shanghai, London, and Brunei. Fullerton is part of a multi-asset management group, Seviora, a holding company established by Temasek. Income, a leading Singapore insurer, is a minority shareholder of Fullerton. For more information, please visit www.fullertonfund.com