PT Ciptadana Asset Management

What PT Ciptadana Asset Management does

PT Ciptadana Asset Management is an Indonesia-domiciled, OJK-regulated investment manager founded in 1990 by Irene Maya Hambali and Catherine Gina Hambali. Originally incorporated as PT Lippo Investment Management in 1991 and rebranded under its current name in 2002, the firm operates with a lean team of 8 employees headquartered in Jakarta's Sudirman business district. Its product architecture spans five mutual fund categories (equity, balanced/fixed income, money market, and capital protected, including sharia-compliant and LQ45 index variants), two Indonesia Stock Exchange-listed real estate investment funds (DIRE-KIK) covering retail (Solo Grand Mall, XCID) and hospitality (Hotel Padjajaran Suites, XCIS) assets, discretionary portfolio management contracts for high-net-worth and institutional clients, and a USD-denominated offshore product (Indonesian Growth Fund).

The firm applies a dual top-down and bottom-up investment process and reaches customers through self-serve online registration (available in Indonesian, English, and Japanese), an APERD/Mitra Distribusi agent network, custodian bank integrations, and the IDX for listed DIRE products. Revenue is generated almost entirely through recurring management fees on AUM across fund mandates, with no public fee schedule and unit-pricing economics that scale with inflows. In December 2025, Hanwha Investment & Securities Co., Ltd. of South Korea acquired a majority stake, marking a control transition that repositions CAM as part of a Korean financial group's Southeast Asia footprint rather than as an independent founder-led boutique.

Name

PT Ciptadana Asset Management

Legal name

PT Ciptadana Asset Management

Website

https://ciptadana-am.com

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

1–10 employees

Short description

PT Ciptadana Asset Management is an OJK-regulated Indonesian investment manager offering mutual funds, listed REITs (DIRE), and discretionary portfolios to high-net-worth individuals and institutional clients, recently acquired by Korea's Hanwha Investment & Securities.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Investment Management Advisory (RIA) (FSAEAAAB)

akta.pro secondary industry

Fixed Income Mutual Funds (FSAAAEAB)

Keywords

• Mutual fund management
• Asset management services
• Portfolio management
• Real estate investment funds
• Wealth management

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Mutual Fund Management Fees: Management fees charged for managing various mutual fund products including equity funds, fixed income funds, money market funds, mixed funds, protected funds, and index funds.
2. DIRE Management Fees: Fees from managing Dana Investasi Real Estat (DIRE) products including property and hotel real estate investment funds listed on Indonesia Stock Exchange.
3. Discretionary Portfolio Management: Customized investment management services for high-net-worth individuals and institutional investors through individual portfolio management contracts.
4. Offshore Fund Management: Management of Indonesian Growth Fund (IGF), a US Dollar-based investment fund investing in Indonesian capital markets.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

PT Ciptadana Asset Management is an Indonesian asset management firm that manages and distributes investment portfolios for individual and institutional clients. It offers mutual funds (reksa dana) across equity, balanced, fixed income, money market, and capital-protected categories, two listed real estate investment funds (DIRE), discretionary individual portfolio management contracts, and a USD-denominated offshore fund. The firm combines top-down economic analysis with bottom-up security selection for investment decisions.

Product overview

PT Ciptadana Asset Management offers a comprehensive investment management platform consisting of five main product lines: (1) Reksa Dana mutual funds spanning five categories — Saham/Equity (10 funds including Rencana Cerdas, Cipta Saham Unggulan, Cipta ETF Index LQ45, and sharia variants), Campuran/Balanced (4 funds including Cipta Dinamika and Cipta Syariah Balance), Pendapatan Tetap/Fixed Income (8 funds including Cipta Bond), Pasar Uang/Money Market (6 funds including Cipta Dana Cash), and Terproteksi/Capital Protected (3 funds); (2) DIRE (Dana Investasi Real Estat) — two real estate investment funds investing in retail (Solo Grand Mall, ticker XCID) and hospitality (Hotel Padjajaran Suites, ticker XCIS) properties listed on the Indonesia Stock Exchange; (3) Discretionary Funds — individual portfolio management for high-net-worth and institutional clients; (4) Indonesian Growth Fund — USD-denominated offshore fund for Indonesian capital markets; and (5) an online Investment Simulation Tool. The company operates under WMI license from OJK and traces its origins to PT Lippo Investment Management established in 1991, rebranded to PT Ciptadana Asset Management in 2002.

Differentiator

Problem solved

Functional benefit

Products and services

• Equity Mutual Funds (Reksa Dana Saham)
• Balanced Mutual Funds (Reksa Dana Campuran)
• Fixed Income Mutual Funds (Reksa Dana Pendapatan Tetap)
• Money Market Mutual Funds (Reksa Dana Pasar Uang)
• Capital Protected Mutual Funds (Reksa Dana Terproteksi)
• DIRE Ciptadana Properti Ritel Indonesia (XCID)
• DIRE Ciptadana Properti Perhotelan Padjajaran (XCIS)
• Discretionary Portfolio Management (Kontrak Pengelolaan Portofolio Efek)
• Indonesian Growth Fund

Quantifiable outcome

• Over 100 investors for DIRE Padjajaran since first issuance
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature2 records

Partnerships

One partnership is on record.

• Distribution Partners (Mitra Distribusi)coreChannel Partner/ Reseller/ DistributorPT Ciptadana Asset Management has established cooperation with various distribution partners (Mitra Distribusi) to expand business networks and facilitate customer access to transactions. These are referred to as APERD (Agen Penjual Efek Reksa Dana) or mutual fund selling agents.

Scale indicators7 records

Recent moves13 records

Expansion highlights6 records

Direct peers

• PT Sucorinvest Asset Management: Mid-to-large Indonesian asset manager with a broad mutual fund offering and discretionary services. Direct competitor for retail and institutional mandates in Indonesia, with comparable multi-fund product breadth.
• PT Ashmore Asset Management Indonesia: Indonesian arm of Ashmore Group, focused on emerging/frontier market equity and fixed income funds. Comparable on offshore USD funds investing in Indonesia (similar concept to Ciptadana's Indonesian Growth Fund) and institutional mandates.
• PT Eastspring Investments Indonesia: Indonesian asset management arm of Prudential plc. Offers a comparable mutual fund shelf (equity, fixed income, balanced, sharia) and institutional mandates. Competes with Ciptadana for both retail (via APERD) and institutional Indonesian mandates.
• PT Avrist Asset Management: Domestic Indonesian asset manager offering mutual funds and discretionary services. A direct comparable for institutional and retail mandates; also a former employer of Ciptadana's current Investment Director.
• PT Yuanta Asset Management: Indonesian asset management arm of Korean securities firm Yuanta Securities. Direct peer for Indonesian mutual funds and institutional mandates; also relevant given Ciptadana's own Korean (Hanwha) ownership transition.
• PT Bahana Dana Manajemen Investasi (Bahana TCW): Indonesian asset management joint venture with strong institutional and government-mandate presence. Direct peer in fixed income, equity, and discretionary mandates — competing for sovereign, pension, and corporate treasury clients.
• PT Manulife Aset Manajemen Indonesia: One of Indonesia's largest asset managers offering mutual funds (equity, fixed income, money market, balanced, sharia) and discretionary mandates. Directly comparable to Ciptadana across the full mutual fund product shelf and institutional client base; also a former employer of Ciptadana's CEO.
• PT Schroder Investment Management Indonesia: Indonesian arm of global asset manager Schroders, offering mutual funds (equity, fixed income, money market, balanced, sharia) and institutional mandates. Direct peer on multi-asset mutual fund products, institutional RFPs, and offshore Indonesia-focused strategies.

Regional players

• PT Indo Premier Sekuritas (IPOT): Indonesian securities firm with a significant mutual fund distribution and asset management arm. Comparable on retail mutual fund distribution via online platforms and APERD network; complementary competitive overlap with Ciptadana's products.

Broad incumbents

• PT BNP Paribas Asset Management Indonesia: Indonesian arm of global asset manager BNP Paribas AM. Overlaps with Ciptadana on equity, fixed income, and money market mutual funds as part of a broader global product platform; not focused on the DIRE/REIT niche.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@ciptadanaasset
• Instagraminstagram.com/ciptadanaasset
• TikToktiktok.com/@ciptadanaasset
• LinkedInlinkedin.com/company/pt-ciptadana-asset-management

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

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 PT Ciptadana Asset Management