Jakarta. Sustainable mutual fund Batavia Global ESG Sharia Equity USD, also known as BGESEU, has now become the latest addition to wealth tech platform Pluang.
BGESEU’s launch is part of Pluang’s partnership with fund manager Batavia Prosperindo Asset Management (BPAM).
Facilitating the transactions is Pluang Grow (PT Sarana Santosa Sejati) — a mutual fund selling agent (APERD) registered in Financial Services Authority (OJK).
According to Pluang’s press statement, BGESEU is the first and only global mutual fund in Indonesia that embraces the so-called environment, social, and governance (ESG) principles. Its launch also makes Pluang Grow as the only wealth tech platform in the country that offers BGESEU to Indonesia’s retail investors. The dollar-denominated sharia mutual fund also helps investors to gain exposure to the global market.
"Pluang finds sustainability to be a very important matter, and we are very proud to be working with BPAM,” Pluang co-founder Claudia Kolonas said in a press statement on Monday.
“This USD-mutual fund is a great breakthrough in the wealthtech industry, so anyone can invest while contributing to a sustainable future,” she added.
Investors are becoming more socially conscious. Blackrock People and Money Survey polled more than 8,000 investors in Asia between November 2019 and January 2020.
“About 68 percent of investors want their investments to consider ESG aspects. By investing on BGESEU, investors have an opportunity to reap better returns, [have] a reliable portfolio while creating a positive impact,” BPAM president director Lilis Setiadi said.
BPAM works closely with the world’s largest asset manager, BlackRock Inc., in overseeing BGESEU. BlackRock Inc. has amassed $9.5 trillion in managed assets, and will serve as a technical advisor to BGESEU management.
BGESEU's investor funds will be placed in the shares of global ESG-conscious firms. For instance, BGESEU’s top holdings, which include global behemoths Johnson & Johnson, Adobe, as well as Procter & Gamble, among others.
Powering BGESEU is a combination between human knowledge on investments and cutting edge technologies like machine learning, big data. And by making ESG-based investments, investors can play a role in encouraging corporations to double down on sustainability, among others, by reducing carbon footprint.
BGESEU is available on purchase on both the Android version starting December 16th 2021 and iOS version starting January 2022 on Pluang app.
There are also 17 other mutual funds to select from on Pluang for investors to further diversify their portfolio.
Purchasing BGESEU requires investors to complete their know-your-customer (KYC) verification first. Investors must also submit a dollar-denominated foreign exchange account. BGESEU investment starts from $10,000 or about Rp 140 million.
Users can sign up via Pluang's relationship manager for special benefits such as personal assistance in mutual fund transactions and monthly market updates. Contact email@example.com for more information.