Media release

Grow Investments launched to meet the growing needs of investors in Indonesia

The firm will offer a range of diversified and differentiated investment solutions to help investors grow their wealth and address the current gaps in the market

JAKARTA, 8 August 2023 – PT Stockbit Investa Bersama (“Stockbit”) and Fullerton Fund Management Company Ltd (“Fullerton”), have launched PT Grow Investments Indonesia (“Grow Investments”) following the announcement of their strategic partnership earlier this year.

Grow Investments will be led by Yenwy Wongso as President Director, who has a combined 20 years of investment management experience in Indonesia, Singapore and the US. The firm will offer a suite of investment solutions to meet the unique needs and investment objectives of investors, from retail and private wealth to institutional investors.

“By leveraging Stockbit’s digital first approach, deep understanding of the local market, and Fullerton’s award-winning investment capabilities in global markets, Grow Investments will focus on generating positive, long-term risk-adjusted returns to help investors grow their wealth. This ties closely with the firm’s strategy to be a trusted partner and manager for investors across Indonesia,” said Yenwy.

Over his career, Yenwy has established a reputable track-record as an equity fund manager, having previously worked at Ashmore Asset Management Indonesia and at Fullerton Fund Management. He brings a wealth of experience and understanding of the markets to his role at Grow Investments.  

With a productive-age population of more than 190 million people, Indonesia is one of Southeast Asia’s most dynamic markets, which will drive demand for financial products and services. The wealth management landscape in the country has also changed significantly in the past four years. In 2018, the volume of mutual funds transactions only totalled one million transactions, while in 2022 the number has grown to 29.4 million transactions[1]. This rapid growth is attributed to the role of technology in making investment more accessible, combined with rising prosperity and the increased demand from investors. Although the number of investors in Indonesia has grown by 38% year-on-year in 2022, only 4% of the population are currently investing in capital market products, lower than Singapore and Malaysia where the number has reached over 25% and 9% respectively[2].

In response to the evolving landscape for wealth management, Grow Investments intends to tap the exceptional and multi-faceted growth potential in Indonesia through its bespoke investment solutions that can benefit investors across the country.

“With the rapid economic growth that Indonesia is experiencing, individual and institutional investors’ requirements are becoming more sophisticated. Grow Investments is deeply committed to creating quality investment solutions to help investors meet their investment objectives. In doing so, we offer diversified and differentiated solutions that combine global expertise and local insights to address the current gaps in the market,” added Yenwy.

The name “Grow Investments” is a nod to the philosophy of the brand to help clients grow their investments over time. It’s a testament to the firm’s relentless commitment to find better ways to support and serve investors through changing market conditions. It also symbolises the firm’s aspiration to grow alongside and flourish with its clients.

[1] Source: Indonesia Central Securities Depositary (KSEI)

[2] Source: Financial Services Authority (OJK)

About Grow Investments

PT Grow Investments Indonesia (“Grow Investments”) is a Jakarta-based asset management firm that will manufacture and distribute quality investment solutions for a wide spectrum of investors across retail, private wealth and institutions. By orchestrating digital capabilities, local insights, and global investment experience, Grow Investments aspires to offer diversified and differentiated investment solutions to help its clients grow their assets over the long term while focusing on ensuring robust risk management.

Grow Investments is a joint venture between PT Stockbit Investa Bersama (“Stockbit”) and Fullerton Fund Management Company Ltd (“Fullerton”). Grow Investments is licensed and supervised by the Financial Services Authority (“OJK”).