Under this partnership, “Sensible Asset Management Hong Kong Limited”, a wholly owned subsidiary of Value Partners , will acquire a 29.99% stake in PT Surya Timur Alam Raya Asset Management (STAR Asset Management), the asset management division under PT Aldiracita Sekuritas Indonesia (Aldiracita). Conversely, in Singapore, Aldiracita Global Investment Pte. Ltd. will acquire a 29.99% stake in Value Partners Asset Management Singapore Pte. Ltd.. Concurrently, we have informed our intention and submitted necessary documents to Otoritas Jasa Keuangan (OJK) and the Monetary Authority of Singapore (MAS) to obtain permission and support from the authorities.
The strategic partnership brings together the expertise and capabilities of both firms to offer the Indonesian market more innovative and high-quality investment solutions across different asset classes to help more Indonesian investors to achieve their financial goals. Indonesia is one of the fastest-growing economies in Asia with a young population, and the rising middle class is expected to bring robust demand for increasingly high-quality and sophisticated asset and wealth management services in the country.
The partnership also helps foster closer collaboration between Hong Kong and ASEAN countries and contributes to the healthy development of the region’s wealth and asset management industry.
Value Partners has more than 30 years of value investing experience in Asia, and the company is recognized for its leadership in ESG investments and its international service standards. Meanwhile, STAR Asset Management is widely known by its clients for its local investment expertise and experience and is recognized as the “Fastest Growing Asset Management Company in Indonesia” by the Global Banking and Finance Review Awards. In June 2023, STAR Mutual Funds’ asset under management has achieved growth of 22.3% above the market.
“As part of our growth strategy in Southeast Asia, we are intensifying our commitment and strengthening ties in the region,” said Mr. Cheah Cheng Hye, Chairman of Value Partners Group, who was part of the Hong Kong delegation visiting Southeast Asia. “ASEAN countries are Hong Kong’s second-largest trading partners with significant economic and investment potential. In particular, Indonesia, with its large population, represents a significant portion of the region’s potential for growth and investment.”
June Wong, CEO of Value Partners Group, further emphasized, “Our alliance with Aldiracita Group is a key milestone in our ongoing efforts to build strategic partnerships that offer measurable benefits to our clients. With both companies joining forces and leveraging each other’s strengths, we are now in a strong position to bring innovative and distinct investment solutions to the dynamic Southeast Asian market. We believe that this collaboration will enable us to tap into new markets and capitalize on the region’s potential for long-term growth and development.”
Rudy Utomo, President Director of Aldiracita and a Committee Chairman of Indonesia Securities Company Association, said, ” Aldiracita Group, through its subsidiary, STAR Asset Management is excited to collaborate with Value Partners to contribute to Indonesia’s economic development and provide investors with access to our diversified range of asset management products. We believe that our shared commitment to delivering exceptional investment solutions and unparalleled client service will drive long-term success for our companies and clients. We are looking forward to all the support from related parties.”
Reita Farianti, CEO of STAR Asset Management, said, “We are thrilled to partner with Value Partners, one of Asia’s leading and most respected asset management firms, to solidify STAR Asset Management’s position in Indonesia’s asset management industry. We aim to capitalize on Indonesia’s rapidly growing economy and burgeoning investment landscape, offering a wide range of innovative mutual fund and investment solutions to local and international investors. In addition, this collaboration ensures that clients in Indonesia receive the same level of personalized attention, tailored solutions, extensive access to the international market, and comprehensive market insights that Value Partners is known for worldwide. We believe that our shared commitment to delivering exceptional investment solutions and unparalleled client service will drive long-term success for our clients.”
Value Partners Group and Aldiracita Group are committed to complying with all applicable laws and regulations by Otoritas Jasa Keuangan “OJK” and the Monetary Authority of Singapore “MAS”
The issuer is solely responsible for the content of this announcement.
About Value Partners Group Limited
Value Partners, one of Asia’s leading independent asset management firms, seeks to offer world-class investment services and products. Since its establishment in 1993, the Company has been a dedicated specialist value investor in Greater China and Asia. In November 2007, Value Partners Group became the first asset management firm to be listed on the Main Board of the Hong Kong Stock Exchange (Stock code: 806 HK). In addition to its Hong Kong headquarters, the firm operates in Shanghai, Shenzhen, Kuala Lumpur, Singapore and London. Value Partners’ investment strategies cover equities, fixed income, multi-asset, alternatives, real estate and quantitative investment solutions for institutional and individual clients in Asia-Pacific, Europe and the United States. Value Partners is one of the leaders in ESG investing in Greater China and is committed to developing its ESG capabilities further. For more information, please visit www.valuepartners-group.com.
About PT Aldiracita Sekuritas Indonesia, and its subsidiary PT Surya Timur Alam Raya Asset Management
Aldiracita is one of Southeast Asia’s most consistent and fastest-growing capital market players, established in 1990. Aldiracita is a securities company and a member of the Indonesia Stock Exchange (IDX), providing a wide range of financial services, including equity and debt capital market, merger & acquisition advisory, investment management and mutual funds. In 2018, Aldiracita was awarded as TOP Securities House by Investor Daily and successfully rose and ranked number three on the Bloomberg Debt Capital Markets (DCM) League Table with a 12% market share of total issuance in 2022.
STAR Asset Management, a wholly owned subsidiary of Aldiracita, was awarded the “Fastest Growing Asset Management Company Indonesia 2022” in the Global Banking and Finance Review Awards. With a commitment to innovation, reliability, trust, and long-term value investing, STAR Asset Management is dedicated to supporting its diverse clientele of institutional investors, corporations, financial intermediaries, and individual investors to achieve their financial objectives.