PNM Investment Management

What PNM Investment Management does

PT PNM Investment Management (PNM IM) is an Indonesian investment management company licensed by BAPEPAM (now OJK) since January 1998, operating for over 25 years as a multi-product mutual fund manager. The company manages open-end and close-end mutual funds across equity, mixed allocation, fixed income, money market, protected, limited-placement (RDPT), index, and sharia categories, alongside alternative products such as KIK-EBA and DINFRA, and offers individual portfolio management (Kontrak Pengelolaan Dana / KPD) and OJK-licensed investment advisory services. Its product portfolio includes flagship funds such as PNM Saham Agresif, PNM Dana Tunai, PNM Falah series, PNM Optima Bulanan, PNM Surat Berharga Negara series, and the pioneer Sharia offering PNM Syariah, plus a PNM Pembiayaan Mikro BUMN RDPT series that channels capital to the state-owned ultra-micro ecosystem.

The business model is AUM-based, charging recurring management fees calculated as a percentage of net asset value, with an additional fee layer from KPD mandates and investment advisory engagements. Distribution operates across four channels: (1) the Groovest mobile application and Sijago web platform, direct-to-consumer digital self-serve channels launched/refreshed in May 2026 with a Rp50,000 minimum investment; (2) the Himbara bank distribution network (Bank Mandiri, BRI, BNI) reaching 20M+ retail customers post-merger; (3) a licensed sales agent network (Agen Penjual); and (4) institutional direct sales for corporate, SOE, and government accounts. As of July 22, 2026, PNM IM is a 99.999%-owned subsidiary of PT Danantara Asset Management, Indonesia's sovereign wealth fund, and is being merged with three sibling state-owned asset managers (Mandiri MI, BRI MI, BNI AM) to form Indonesia's largest asset management entity with combined AUM of IDR 170 trillion (~$9.5 billion).

Name

PNM Investment Management

Legal name

PT PNM Investment Management

Website

https://pnmim.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

51–100 employees

Short description

PT PNM Investment Management is an Indonesian OJK-licensed mutual fund manager offering conventional and Sharia reksa dana across equity, fixed income, money market, and alternative categories, serving retail and institutional investors via Groovest app and the Himbara bank network, now consolidated under Danantara Asset Management.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Open-End Investment Funds (525910), Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282), Asset-Backed Securities (6189)

akta.pro primary industry

Fixed Income Mutual Funds (FSAAAEAB)

akta.pro secondary industries

Index Mutual Funds (Non-ETF) (FSAAAEAE), Target-Risk / Risk-Managed Allocation Funds (FSAAAEAG), Fund of Funds & Multi-Manager Mutual Funds (FSAAAEAL)

Keywords

• Mutual fund management
• Investment advisory services
• Sharia investment funds
• Individual portfolio management
• Asset management Indonesia

Headquarters

HQ city

Dki Jakarta

HQ country

Indonesia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Revenue model

1. Mutual Fund (Reksa Dana) Management Fees: PNM Investment Management charges management fees on the assets under management of its mutual fund products. The company manages a comprehensive suite of reksa dana products including equity funds, mixed funds, fixed income funds, money market funds, protected funds, limited placement funds (RDPT), index funds, and alternative products. Fees are calculated as a percentage of AUM and represent the primary revenue stream.
2. Investment Advisory Fees: PNM IM holds an investment advisory license (Izin Penasihat Investasi) granted by OJK under Decision Letter KEP-16/D.04/2019 dated April 2, 2019. The company provides investment advisory services to clients for a fee.
3. Individual Portfolio Management (Kontrak Pengelolaan Dana / KPD): PNM IM manages bespoke portfolios for individual high-net-worth clients through KPD agreements, charging fees for professional portfolio management services.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

PT PNM Investment Management (PNM IM) is an Indonesian licensed investment management company that manages open-end and closed-end mutual funds (reksa dana) across conventional and sharia categories—covering equity, mixed, fixed income, money market, protected, limited placement, and index funds—as well as alternative products including individual portfolio management (KPD), RDPT, KIK-EBA, and DINFRA. The company also provides investment advisory services licensed by OJK and operates proprietary digital investment platforms (Groovest mobile app and Sijago web platform) enabling retail and institutional investors to subscribe, switch, and redeem mutual fund units.

Product overview

PNM Investment Management (PNM-IM) is an Indonesian investment management company offering a comprehensive mutual fund (reksa dana) portfolio and investment advisory services. The company operates as a multi-product platform managing both conventional and Sharia-compliant mutual funds across seven categories: Equity (Saham), Mixed (Campuran), Fixed Income (Pendapatan Tetap), Money Market (Pasar Uang), Protected (Terproteksi), Limited Investment (Penyertaan Terbatas), and Index (Indeks) funds. Key product lines include PNM Saham Agresif, PNM Syariah, PNM Ekuitas Syariah, PNM PUAS, PNM Dana Tunai, PNM Falah series, PNM Dana Sejahtera series, PNM Dana Surat Berharga Negara series, and the recently launched PNM Cinta Anak Bangsa. The company also offers digital platforms (Groovest app and PNM Sijago), individual fund management services (KPD), and investment advisory services. PNM-IM is a pioneer of Sharia mutual funds in Indonesia and is now under Danantara Asset Management ownership following the July 2026 acquisition.

Differentiator

Problem solved

Functional benefit

Brands

• Groovest: Digital mutual fund investment application launched by PNM Investment Management as a transformation from the previous PNM Sijago platform. Targetted at millennials and Gen Z investors for easy, affordable, safe and comfortable online mutual fund investing.
• PNM Sijago

Quantifiable outcome

• PNM Falah 2 achieved best money market fund performance 2023 in Indonesia for the Rp50 billion - Rp100 billion class, 1-year period
• +4 more outcomes

Named customers6 records

Segments4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Bank Mandiri, BRI, and BNI (Himbara Network)coreChannel Partner/ Reseller/ Distributor · 22 July 2026PNM IM is consolidated with Mandiri Manajemen Investasi, BRI Manajemen Investasi, and BNI Asset Management under Danantara Asset Management. Upon merger, the combined entity will leverage the Himbara (Himpunan Bank Milik Negara) distribution network comprising Bank Mandiri, Bank Rakyat Indonesia (BRI), and Bank Negara Indonesia (BNI), which serves over 20 million retail customers across Indonesia. This provides massive distribution reach for PNM IM's mutual fund products.
• PT Permodalan Nasional Madani (PNM)coreStrategic or Co-development PartnerPT Permodalan Nasional Madani (PNM) was the previous parent company of PNM Investment Management until the ownership transfer to Danantara Asset Management on July 22, 2026. PNM is a state-owned enterprise (BUMN) under the Holding BUMN Ultra Mikro, focused on financing and developing ultra-micro enterprises in Indonesia. PNM IM develops products to support PNM's mission including Reksa Dana Penyertaan Terbatas (RDPT) for financing state-owned enterprises, infrastructure, and MSMEs through synergy with the PNM ecosystem.
• Otoritas Jasa Keuangan (OJK)coreOthersPNM Investment Management operates under regulatory supervision of the Otoritas Jasa Keuangan (OJK), Indonesia's Financial Services Authority. The company holds Investment Manager license (BAPEPAM No. Kep-01/PM/MI/1998) and Investment Advisory license (OJK KEP-16/D.04/2019) granted by OJK. The company is also subject to compliance with OJK regulations for investor protection, anti-money laundering (AML), and financial reporting.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Mandiri Manajemen Investasi: Indonesia's largest domestic mutual fund manager and a sister SOE asset manager under the Danantara consolidation; offers the same product categories (equity, fixed income, money market, sharia) and is being merged directly with PNM IM.
• BNI Asset Management: BNI's asset management arm and the third party in the Danantara four-firm consolidation with PNM IM; offers conventional and sharia mutual funds distributed through BNI branches with comparable AUM scale.
• Sucorinvest Asset Management: Independent Indonesian asset manager offering conventional and sharia mutual funds including money market, fixed income, equity, and protected funds; competes with PNM IM in the same retail and institutional segments.
• Bahana TCW Investment Management: Indonesian asset manager jointly owned by Bahana and TCW (Trust Company of the West); offers a comparable full mutual fund suite plus institutional mandates, and is a direct competitor for both retail and institutional AUM.
• BRI Manajemen Investasi: SOE-affiliated Indonesian asset manager being consolidated with PNM IM under Danantara; manages a similar mutual fund product suite and shares the Himbara distribution network with PNM IM's products.

Broad incumbents

• Eastspring Investments Indonesia: Indonesia subsidiary of Prudential's asset management arm; manages mutual funds and institutional mandates with global investment capabilities, competing for higher-end retail and institutional clients.
• Manulife Aset Manajemen Indonesia: Indonesian arm of Manulife Investment Management; offers mutual funds and unit-linked investment products with international distribution and brand reach, competing for mass-affluent and institutional investors.
• BNP Paribas Asset Management Indonesia: Indonesian unit of global asset manager BNP Paribas AM; offers mutual funds and institutional mandates with European/global investment access, competing primarily for institutional and HNW mandates rather than mass retail.
• Ashmore Asset Management Indonesia: Indonesia presence of emerging-markets specialist Ashmore; competes for institutional and HNW mandates seeking emerging-market and Indonesia-specific exposure, an adjacent rather than mass-market peer to PNM IM.
• Schroder Investment Management Indonesia: Indonesia presence of global asset manager Schroders; offers conventional and sharia mutual funds, leveraging international research capabilities to compete in Indonesian equity, fixed income, and balanced mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/PNMIM
• Instagraminstagram.com/groovest_pnmim
• LinkedInlinkedin.com/company/pnmim

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

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 PNM Investment Management