Economy

Danantara Merges 4 Asset Managers with IDR 143 Trillion in AUM

Stateline MEDIA Newsroom•October 20, 2026•3 min read

Danantara Indonesia has merged four state-owned asset managers holding IDR 143T in AUM, aiming to revamp operations and target global markets.

Key Facts

Akta penggabungan empat manajer investasi BUMN ditandatangani di Jakarta pada 28 September 2026; PT Mandiri Manajemen Investasi ditetapkan sebagai perusahaan penerima penggabungan.
Empat perusahaan yang dikonsolidasikan: PT Mandiri Manajemen Investasi, PT BNI Asset Management, PT BRI Manajemen Investasi, dan PT PNM Investment Management — dengan dana kelolaan kolektif lebih dari Rp143 triliun per September 2026.
Chief Operating Officer Danantara Indonesia Dony Oskaria memimpin transformasi organisasi, sumber daya manusia, teknologi, dan tata kelola pascamerger.
Penataan SDM meliputi evaluasi jabatan, penentuan ukuran jabatan, sistem penggolongan jabatan, matriks kompetensi, dan persyaratan jabatan agar setiap pegawai diperlakukan adil.
Perusahaan hasil merger membidik investor ritel lewat produk investasi tematik dan jaringan bank Himpunan Bank Milik Negara (Himbara); jumlah Single Investor Identification (SID) nasional telah melampaui 30 juta pada 7 Agustus 2026.
Danantara menargetkan perusahaan hasil konsolidasi mampu bersaing sebagai pemain investasi regional dan global.

Merger Completed, AUM Surpasses IDR 143 Trillion

Danantara Indonesia has finalized the merger of four investment management firms within the state-owned enterprises (BUMN, or Badan Usaha Milik Negara) ecosystem. The consolidation was formalized with the signing of the Merger Deed in Jakarta on September 28, 2026.

The four consolidated companies are PT Mandiri Manajemen Investasi, PT BNI Asset Management, PT BRI Manajemen Investasi, and PT PNM Investment Management. PT Mandiri Manajemen Investasi was appointed as the surviving entity, absorbing all assets, liabilities, rights, and obligations of the other three companies.

Collectively, the four firms recorded assets under management (AUM) exceeding IDR 143 trillion as of September 2026. This expanded operational scale is expected to bolster the domestic investment management industry while enhancing competitiveness across regional and international markets.

HR and Technology Transformation Become Top Priorities

Danantara Indonesia Chief Operating Officer Dony Oskaria emphasized that integrating the four companies must be accompanied by the development of an organizational system that is professional, transparent, and equitable. According to him, scaling up operations requires a cultural shift in the workplace, stronger competencies, and enhanced performance.

"Conduct job evaluations, establish job sizing, build a grading system, develop a competency matrix, and define job requirements so that everyone is treated fairly," Dony stated. The restructuring encompasses position appraisals, responsibility classifications, and competency mapping tailored to corporate needs.

Beyond organizational restructuring, harmonizing corporate culture remains a key focus. Dony stressed that a successful consolidation demands alignment in vision, principles, and objectives across all levels of the enterprise. The merger also entails advancing technology infrastructure and elevating investment management standards.

Targeting Retail Investors and the Global Market

In the retail investor segment, the merged entity intends to introduce thematic investment products designed to match public preferences and needs. Distribution will be strengthened by leveraging the network of state-owned banks grouped under the Association of State-Owned Banks (Himbara, or Himpunan Bank Milik Negara).

This initiative aligns with the expansion of the domestic capital market's investor base. As of Friday, August 7, 2026, the number of Single Investor Identification (SID) registrations exceeded 30 million. The steadily growing retail base provides significant runway for the asset management industry to broaden product adoption.

Over the long term, Danantara aims for the consolidated entity to rival global-scale investment institutions. "We aspire to become a global player. If foreign institutions can excel, why can't we? Especially when we possess such an extensive distribution reach," Dony concluded.