Ideal Investor Protection Fund is Rp100mn: SPIF
29 July 2015 13:52 WIB
TEMPO.CO, Jakarta - The Securities Investor Protection Fund (Indonesia SPIF/P3IEI) hopes that financial regulators can increase the amount of investor protection fund (IPF), reports said Wednesday, July 29, 2015.
SPIF president director Yoyok Isharsaya said the IPF, the money that investors can receive as restitution for lost assets, is now Rp25 million for one investor and Rp50 billion for a custodian.
"The ideal amount is Rp100 million," he said on Tuesday.
Yoyok said that a proposal to raise the IPF had been submitted to the Financial Services Authority (OJK). He hopes the raise can be actualized soon, as a higher IPF will increase public and investors' trust in the Indonesian capital market.
As of June 2015, the SPIF has 112 custodians and 438,800 investors and/or financiers as its members. These investors and custodians have a combined asset of Rp761.62 trillion that are protected.
"The investors' protection fund is Rp95.81 billion," said Yoyok.
The Indonesia Stock Exchange (IDX) had said it would increase the value IPF from the current Rp25 million to Rp100 million. This move is done to boost investors' confidence in Indonesian market amid global pressure, newly-appointed IDX director Tito Sulistio said.
Tito promised that the raise would be done to gradually. "The OJK has approved IPF hike. Hopefully by our anniversary on August 10 we can make the official announcement," he said.
ADITYA BUDIMAN
