Asosiasi Analis Efek Indonesia

What Asosiasi Analis Efek Indonesia does

Asosiasi Analis Efek Indonesia (AAEI) is a non-profit professional association founded in 2001 by Indonesian securities analysts and legally structured in 2003. Headquartered in Wisma GKBI, Jakarta, AAEI serves securities, fixed income, and money market professionals and has grown to over 500 members spanning financial institutions, government bodies such as OJK, pension funds, universities, and corporations. Its core mission is to professionalize and credential the Indonesian analyst workforce.

AAEI's product portfolio centers on three pillars: (1) annual membership at Rp 300,000 per year, providing access to networking events, exclusive programs, and professional development; (2) the Certified Securities Analyst (CSA) certification, delivered through CSA Institute in partnership with SASB (Securities Analyst Standard Board) and partner universities including Universitas Indonesia and Universitas Gadjah Mada; and (3) a slate of programs and events including the CSA Awards (48 categories, 133 nominated issuers in 2023), Economic & Capital Market Outlook, Unboxing Emiten, the CSA Research Competition, AWESOME webinars, and TALKING Instagram Live sessions. AAEI also publishes the CSA Index, a survey-based market sentiment indicator for IHSG performance. The organization has no proprietary technology platform; its distribution runs through its website (aaei.or.id), university partnerships, media relationships, and physical events.

AAEI's revenue model is anchored by recurring membership fees and CSA certification/training fees, supplemented by event-driven engagement with listed issuers. A formal Code of Ethics is enforced on members, and the organization operates under the legal foundation established by Keputusan Menteri Hukum dan HAM RI No. AHU-188.AH.01.07.Tahun 2012. PT Asosiasi Analis Efek Indonesia, established in 2012, functions as the affiliated corporate entity supporting certification and training operations.

Name

Asosiasi Analis Efek Indonesia

Legal name

Asosiasi Analis Efek Indonesia

Website

https://aaei.or.id

Company type

Private

Founded year

2001

Operating status

Operating

Short description

Asosiasi Analis Efek Indonesia (AAEI) is a non-profit professional association founded in 2001 serving 500+ securities, fixed income, and money market analysts in Indonesia. It delivers CSA certification, professional development, market research programs, and networking events for Indonesia's capital market.

Ownership category

akta.pro rank

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Membership Fees: Annual membership fee of Rp 300,000 charged to members. This is the primary stated revenue stream for the non-profit association. The fee covers member benefits including a membership card, access to exclusive events, networking, and professional development programs.
2. CSA Certification Programs: CSA Institute provides competency-based certification training for securities analysts. Revenue is derived from certification training and examination fees, conducted in partnership with SASB and delivered at partner universities (Universitas Indonesia, Universitas Gadjah Mada). The program also includes paid professional development training for winners of the CSA Research Competition.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

AAEI is a non-profit professional association that provides annual membership, professional certification (RSA, CSA) for securities, fixed income, and money market analysts in Indonesia, and operates community programs including CSA Awards, Market Outlook sessions, Unboxing Emiten issuer engagements, the CSA Index market sentiment indicator, CSA Research Competition, TALKING live sessions, and AWESOME webinars. Its commercial offerings center on the annual membership subscription (Rp 300,000) and the CSA certification training and examination pathway delivered with SASB through partner universities.

Product overview

AAEI operates as a non-profit professional association serving securities analysts in Indonesia's capital and money markets. The organization offers a unified membership program and manages several interconnected programs: CSA Index for market sentiment analysis, CSA certification for professional development, and educational programs including TALKING and AWESOME webinars. Additionally, AAEI organizes flagship events such as CSA Awards, CSA Research Competition, Market Outlook, and Unboxing Emiten to advance capital market literacy and recognize market participants.

Differentiator

Problem solved

Functional benefit

Brands

• CSA Index (Capital Sensitivity Analysis Index): An indicator developed by AAEI and CSA Community based on market participant surveys regarding IHSG performance and sector outlook.
• CSA Awards
• Unboxing Emiten
• CSA Research Competition
• Economic & Capital Market Outlook
• TALKING (Talk with AAEI about Investing)
• AWESOME (AAEI Webinar about Stock Market)

Quantifiable outcome

• 500+ members as of the current leadership term (2021-2023)
• +2 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• CSA InstitutecoreStrategic or Co-development Partner · 1 January 2011CSA Institute was established in 2011 as the certification and training body for the Certified Securities Analyst (CSA) program. It provides competency-based certification for securities analysts and aspiring capital market professionals. AAEI created CSA Institute to ensure analysts with CSA certification are recognized as credible professionals. The certification training is delivered at partner universities.
• SASB (Securities Analyst Standard Board)coreTechnology or Integration · 1 January 2011SASB serves as the examination and certification body for the CSA certification program. AAEI cooperates with SASB to conduct the CSA certification examination, ensuring that the certification meets professional standards for securities analysis in Indonesia.
• Universitas Indonesia & Universitas Gadjah MadaminorStrategic or Co-development Partner · 1 January 2011CSA certification training programs are conducted at Universitas Indonesia and Universitas Gadjah Mada. These university partnerships enable AAEI to deliver certification education to a wider audience of students and aspiring analysts.
• PROPAMIminorStrategic or Co-development PartnerPROPAMI (Presidium Repporter Investasi dan Pasar Modal Indonesia) is a collaborative partner in the Unboxing Emiten program. PROPAMI members are among the primary target audience for the issuer engagement events, alongside CSA Community and AAEI members.
• CSA CommunitycoreStrategic or Co-development PartnerCSA Community is the professional community of CSA-certified analysts, operating alongside AAEI. Together with AAEI, CSA Community co-initiated the CSA Index and co-organizes the CSA Awards. The community is a key stakeholder and beneficiary of AAEI's programs.
• Media (Various Indonesian Mass Media Outlets)minorGTM or Marketing PartnerAAEI has developed close relationships with journalists from various Indonesian mass media outlets through its journalist education program (edukasi pasar modal untukwartawan). These media relationships enable AAEI analysts to share market commentary and opinions that reach the general public through financial news coverage.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• CAIA Association: CAIA Association awards the Chartered Alternative Investment Analyst credential and runs an education, chapter, and conference ecosystem for alternative investment analysts. It mirrors AAEI's model of a specialized analyst credential plus member community and events, although focused on alts rather than securities.
• EFFAS (European Federation of Financial Analysts Societies): EFFAS is the umbrella federation of European national analyst societies, providing the CEFA (Certified European Financial Analyst) credential and coordinating member societies. It is the closest structural counterpart to AAEI as a national/regional analyst membership body issuing a standardized credential.

Broad incumbents

• International Capital Market Association (ICMA): ICMA is a global membership association for capital market participants, with strong fixed income and primary markets focus, issuing standards and educational credentials. It parallels AAEI's mission for fixed income and money market analyst members but at international scale.
• GARP (Global Association of Risk Professionals): GARP administers the FRM (Financial Risk Manager) certification and operates as a global membership association for risk and capital market professionals. It parallels AAEI's structure (membership body + credentialing + events) but serves a global audience and risk-focused niche rather than sell-side equity analysis.
• CFA Institute: CFA Institute is the global standard-setter for investment analyst credentials (CFA charter) and runs the most recognized certification program worldwide. It is the closest global analog to AAEI's CSA certification mandate, though at vastly larger scale and global rather than Indonesia-specific scope.

Regional players

• Persatuan Aktuaris Indonesia (PAI): PAI is Indonesia's professional actuarial association, administering actuarial credentials, member events, and code of ethics. It mirrors AAEI's model of a credentialed financial professional body with university partnerships, but operating in actuarial rather than securities analysis.
• Indonesian Institute of Accountants (IAI): IAI is Indonesia's chartered accountant professional body, running the CA/CFA-equivalent accountant credential with member chapters, CPD requirements, and professional codes. It is a direct structural peer to AAEI within Indonesia, operating the same membership + certification + ethics-enforcement model in an adjacent profession.
• Asosiasi Emiten Publik Indonesia (AEPI): AEPI is the Indonesian association of publicly listed companies, serving as the issuer-side counterpart to AAEI. While AAEI represents analysts, AEPI represents listed companies, and the two interact through programs like Unboxing Emiten and CSA Awards.
• Asosiasi Fintech Pendanaan Indonesia (AFPI): AFPI is Indonesia's fintech lending industry association, running a similar professional-body model of membership, code of ethics, and certification programs within the Indonesian fintech sector. It is a structural peer in operating model rather than in subject matter.

Others

• Otoritas Jasa Keuangan (OJK): OJK is Indonesia's integrated financial services regulator overseeing capital markets, banking, and non-bank financial institutions. AAEI's certification and code-of-ethics framework operates adjacent to OJK's regulatory licensing regime, making OJK the principal regulatory counterpart rather than a competitor.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/playlist?list=PL1vMO99taDIK_9ZXuEtd-18PlVF49t9_T
• Facebookfacebook.com/100069822530413

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

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Frequently asked questions about Asosiasi Analis Efek Indonesia