Mandiri Investasi

What Mandiri Investasi does

PT Mandiri Manajemen Investasi (Mandiri Investasi) is an Indonesian-licensed asset management company supervised by the Otoritas Jasa Keuangan (OJK), offering mutual funds (reksa dana), alternative products (KIK EBA, KIK DINFRA), and discretionary individual fund management (PDNI). Founded in 2004 and historically a subsidiary of state-owned PT Bank Mandiri (Persero) Tbk, the company manages 54 investment products spanning equity, balanced, fixed income, money market, protected, index, and sharia-compliant mutual funds, plus ETFs. Total consolidated assets under management exceeded Rp 80 trillion as of December 2025 across standalone AUM of more than Rp 70 trillion, distributed through 43 APERD (Agen Penjual Reksa Dana) selling agents including banks, securities firms, fintech platforms, and a Singapore subsidiary.

The company's core technology stack centers on the proprietary Moinves mobile application, available on Google Play and the Apple App Store, which enables direct digital subscription to mutual funds with a minimum ticket size of Rp 50,000. Revenue is generated primarily through recurring management fees on AUM, with additional economics from subscription, redemption, and discretionary mandate fees (not publicly disclosed). The customer base is overwhelmingly retail/individual investors served horizontally across risk profiles and asset classes. As of April 2026, the ownership structure changed materially: Indonesia's sovereign wealth fund Danantara, through PT Danantara Asset Management, acquired 99.93% of the company for Rp 1.02 trillion as part of a broader consolidation of state-owned bank asset management subsidiaries.

The commercial strategy is twofold: (i) broad digital and offline retail distribution via Moinves and 43 APERD partners, and (ii) institutional co-development partnerships to launch differentiated products, most visibly a Sharia Gold ETF program being prepared with Bank Syariah Indonesia (BSI), Mandiri Sekuritas, Pegadaian, and Deutsche Bank for Q1 2026 launch. The Sharia Gold ETF is structured under DSN MUI Fatwa No. 163/DSN-MUI/VII/2025 with physical gold custodied at an LJK Bullion bank. Awards include the 2019 CGPI Trusted Company award, the 2020 CNBC Indonesia "Most Inspiring Fund Manager" recognition, and multiple Bareksa-Kontan Gold Champion awards.

Name

Mandiri Investasi

Legal name

PT Mandiri Manajemen Investasi

Website

https://mandiri-investasi.co.id

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

251–500 employees

Short description

Mandiri Investasi is an OJK-licensed Indonesian asset manager (now under Danantara) offering 54 mutual fund and alternative products to retail investors via its Moinves app and 43 distribution partners, managing over Rp 80 trillion in AUM.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (52591), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Fixed Income Mutual Funds (FSAAAEAB)

akta.pro secondary industry

Multi-Asset Solutions for Institutional (Pensions/Endowments/Sovereigns) (FSAAAJAJ)

Keywords

• Mutual fund management
• Asset management services
• Sharia investment products
• Exchange traded funds
• Discretionary fund management

Headquarters

HQ city

Dki Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Mutual Fund Management Fees: Mandiri Investasi generates revenue through management fees charged on its mutual fund (reksa dana) products. The company manages a total consolidated AUM exceeding Rp 80 trillion across 54 investment products as of December 2025.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Mandiri Investasi is an Indonesian asset management company that pools investor capital into professionally managed mutual fund (Reksa Dana) portfolios spanning equity, balanced, fixed income, money market, protected, index, ETF, and Sharia-compliant categories, plus alternative products (KIK EBA, KIK DINFRA) and bespoke individual discretionary fund management (PDNI). Investors access the 54-product suite through the Moinves mobile application (minimum Rp 50,000) and a network of 43 APERD selling-agent partners including banks, securities firms, fintech platforms, and a Singapore subsidiary.

Product overview

Mandiri Investasi (PT Mandiri Manajemen Investasi) is a leading Indonesian asset management company licensed and supervised by the Financial Services Authority (OJK), operating as part of PT Bank Mandiri (Persero) Tbk group. The company offers a comprehensive mutual fund (Reksa Dana) platform encompassing multiple product categories including Equity Funds (Saham), Balanced Funds (Campuran), Fixed Income Funds (Pendapatan Tetap), Money Market Funds (Pasar Uang), Protected Funds (Terproteksi), and Sharia-Compliant Funds (Syariah), as well as Index Funds and ETFs. Additional offerings include Alternative Products (KIK EBA, KIK DINFRA), individual discretionary fund management (PDNI), and the Moinves mobile application for digital investment access with a minimum investment of Rp 50,000. The company manages over Rp 80 trillion in assets under management through 54+ investment products distributed via 43+ APERD partners including banks, securities firms, fintech, and distribution subsidiaries including an entity in Singapore. Notable flagship products include MGSED (Global Sharia Equity Dollar), ASEAN 5, MITRA, MIDU, MidSya, MIDO II, IDAMAN, MPUS, MIPU2, and MIPU. The company has partnerships with BSI, Mandiri Sekuritas, Pegadaian, and Deutsche Bank for Sharia Gold ETF product development.

Differentiator

Problem solved

Functional benefit

Products and services

• Moinves Mobile Application Mobile application enabling investors to subscribe to Mandiri Investasi mutual fund (Reksa Dana) products digitally with a minimum investment of Rp 50,000, available on Google Play and Apple App Store. Targeted at individual/retail investors in Indonesia.
• Reksa Dana Saham (Equity Mutual Funds) Equity mutual funds investing in listed stocks on the Indonesia Stock Exchange, offering higher risk-reward potential for long-term capital growth. Targeted at investors seeking equity exposure.
• Reksa Dana Campuran (Balanced Mutual Funds) Balanced mutual funds combining equity and fixed income instruments to balance risk and return profiles for moderate-risk investors.
• Reksa Dana Pendapatan Tetap (Fixed Income Mutual Funds) Fixed income mutual funds investing primarily in bonds and other debt instruments, providing stable income and lower volatility.
• Reksa Dana Pasar Uang (Money Market Mutual Funds) Money market mutual funds investing in short-term debt securities with high liquidity and low risk for capital preservation.
• Reksa Dana Terproteksi (Protected Mutual Funds) Protected mutual funds with capital protection mechanisms at maturity, combining fixed income investments with optional equity upside.
• Reksa Dana Syariah (Sharia-Compliant Mutual Funds) Sharia-compliant mutual funds following Islamic investment principles, including equity, fixed income, and money market variants.
• Reksa Dana Indeks (Index Mutual Funds) Index-tracking mutual funds that replicate the performance of benchmark indices such as FTSE Indonesia ESG Index.
• ETF (Exchange-Traded Fund) Exchange-traded funds listed on the Indonesia Stock Exchange, including LQ45 ETF and SRI Kehati ETF, offering intra-day trading flexibility.
• Produk Alternatif - KIK EBA Asset-Backed Securities (KIK EBA) providing exposure to asset-backed instruments for qualified investors seeking alternative investments.
• Produk Alternatif - KIK DINFRA Infrastructure Project-Financed Securities (KIK DINFRA) offering investment exposure to infrastructure development projects.
• Pengelolaan Dana Nasabah Secara Individual (PDNI) Individual customer fund management service customized according to investor needs based on investment objectives and risk profile.
• Mandiri Global Sharia Equity Dollar (MGSED) Sharia-compliant global equity fund denominated in USD, offering international diversification through investments aligned with Islamic principles.
• Mandiri Investa Equity ASEAN 5 Plus (ASEAN 5) Regional equity fund focusing on ASEAN 5 markets (Indonesia, Malaysia, Philippines, Singapore, Thailand) for geographic diversification across Southeast Asia.
• Mandiri Investa Atraktif (MITRA) Equity mutual fund focused on Indonesian stocks with active stock selection strategy targeting capital appreciation.
• Mandiri Investa Dana Utama (MIDU) Fixed income mutual fund investing in bonds and money market instruments for stable income generation.
• Mandiri Investa Dana Syariah (MidSya) Sharia-compliant fixed income mutual fund following Islamic investment principles for halal income generation.
• Mandiri Investa Dana Obligasi Seri II (MIDO II) Bond-focused fixed income mutual fund investing in government and corporate bonds for yield optimization.
• Investa Dana Dollar Mandiri (IDAMAN) USD-denominated fixed income mutual fund providing currency diversification and exposure to dollar assets.
• Mandiri Pasar Uang Syariah (MPUS) Sharia-compliant money market mutual fund following Islamic principles for short-term halal investments.
• Mandiri Investa Pasar Uang 2 (MIPU2) Money market mutual fund with enhanced liquidity features for short-term investment needs.
• Mandiri Investa Pasar Uang (MIPU) Core money market mutual fund offering high liquidity and stable returns for capital preservation.

Quantifiable outcome

• AUM exceeding Rp 80 trillion (consolidated) as of December 2025
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered core and minor.

• PegadaiancoreStrategic or Co-development Partner · 9 December 2025Mandiri Investasi signed an MoU with Pegadaian and Deutsche Bank on 9 December 2025 to prepare the launch of RDB Emas Syariah (Sharia Gold Mutual Fund) in early 2026. Pegadaian contributes its expertise in gold custody and management.
• Deutsche BankcoreStrategic or Co-development Partner · 9 December 2025Mandiri Investasi signed an MoU with Pegadaian and Deutsche Bank on 9 December 2025 to prepare the launch of RDB Emas Syariah (Sharia Gold Mutual Fund) in early 2026. Deutsche Bank supports the product preparation and potentially brings international expertise.
• Bank Syariah Indonesia (BSI)coreStrategic or Co-development Partner · 5 December 2025Mandiri Investasi signed an MoU with PT Bank Syariah Indonesia Tbk (BSI) on 5 December 2025 as part of the preparation for launching a Sharia Gold ETF. BSI serves as the Bullion Bank providing and safekeeping physical gold underlying the fund, ensuring management in accordance with sharia principles.
• Mandiri SekuritascoreStrategic or Co-development Partner · 28 November 2025Mandiri Investasi signed an MoU with Mandiri Sekuritas on 28 November 2025 to prepare the launch of a Sharia Gold Exchange-Traded Fund (ETF) in Q1 2026. Mandiri Sekuritas is appointed as the first ETF Dealer Participant in Indonesia, handling creation-redemption processes and maintaining liquidity through physical gold trading.
• DBS BankminorStrategic or Co-development Partner · 1 January 2025Mandiri Investasi partnered with DBS Bank to strengthen access to gold investment products, enhancing the ecosystem for gold-based investment instruments.
• LinkAjaminorChannel Partner/ Reseller/ Distributor · 1 January 2020Mandiri Investasi entered into a partnership with LinkAja in 2020 to enable mutual fund purchases through the LinkAja digital platform, expanding digital distribution reach.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Eastspring Investments Indonesia: Prudential group's Indonesian asset management arm offering mutual funds and discretionary mandates with bancassurance-led distribution. Comparable to Mandiri Investasi across product mix and customer acquisition model.
• PT Bahana TCW Investment Management: Indonesian asset management company offering a full mutual fund product suite across conventional and sharia categories, with strong state-affiliated pedigree. Directly comparable to Mandiri Investasi in product breadth, customer segment (retail + institutional), and distribution model.
• PT Danareksa Investment Management: State-owned Indonesian asset manager also consolidated under Danantara Asset Management in 2026 alongside Mandiri Investasi. Operates the same mutual fund and discretionary management model with overlapping customer segments, making it the closest direct peer structurally and commercially.
• Manulife Asset Management Indonesia: Foreign-owned (Manulife group) Indonesian asset manager running a broad reksa dana shelf distributed via bancassurance and APERD networks. Directly comparable to Mandiri Investasi in product range, retail focus, and multi-channel distribution.
• Schroder Investment Management Indonesia: Foreign-affiliated Indonesian asset manager with a diversified reksa dana platform including sharia and global funds. Comparable in scale, product breadth, and institutional/retail mix to Mandiri Investasi.
• Sucorinvest Asset Management: Indonesian asset manager with a multi-asset mutual fund shelf including sharia, equity, fixed income, and money market products. Comparable mid-to-large scale Indonesian asset manager serving retail through APERD networks.
• BNP Paribas Asset Management Indonesia: Foreign-owned Indonesian asset manager offering reksa dana across conventional and sharia categories, distributed via bank and digital channels. Comparable in product breadth and target retail/institutional segments.
• Ashmore Asset Management Indonesia: Emerging-markets specialist with Indonesian operations offering equity and fixed income mutual funds. Comparable in asset-class expertise and institutional/affluent retail targeting.

Emerging players

• Bibit: Indonesian digital wealth/robo-advisor that aggregates mutual funds from multiple AMs for retail investors. Not a direct fund manager competitor but increasingly determines retail distribution economics for asset managers like Mandiri Investasi.
• Bareksa: Indonesia's largest mutual fund marketplace/aggregator and a recognized industry awards body in the dataset. Functions as a competing distribution channel for retail mutual fund investors alongside Mandiri Investasi's Moinves app.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/mandiri.investasi
• Xx.com/mandiri_mi
• Facebookfacebook.com/MandiriManajemenInvestasi
• LinkedInlinkedin.com/company/mandiri-investasi

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mandiri Investasi