Danantara Asset Management (DAM) has taken control of four state-linked investment managers overseeing more than Rp170 trillion in combined assets. These companies are Mandiri Investment Management, BRI Investment Management, BNI Asset Management and PNM Investment Management. Danantara plans to merge them within a month and has designated Mandiri Investment Management as the surviving legal corporate entity.

JAKARTA, thekabarnews.com—PT Danantara Asset Management (DAM) has taken control of four state-linked investment management companies. These companies collectively oversee more than Rp170 trillion in client assets. This move sets the stage for one of Indonesia’s largest fund-management consolidations.

The transfer followed share-purchase agreements and share-sale deeds executed in Jakarta on Wednesday, July 22. The companies are PT Mandiri Manajemen Investasi (MMI), PT BRI Manajemen Investasi (BRI MI), PT BNI Asset Management (BNI AM) and PT PNM Investment Management (PNM IM).

“This is a major step to strengthen the national investment management industry. These four companies have strong experience, networks and capabilities. Collectively, they manage more than Rp170 trillion,” Danantara Indonesia Chief Operating Officer Dony Oskaria said in an official statement on Thursday, July 23.

Danantara completed the transaction through its operational holding company, PT Danantara Asset Management. The transfers moved controlling stakes previously held through state-owned banking groups and their subsidiaries into DAM’s portfolio.

Public disclosures show that DAM acquired BRI’s 65-percent stake in BRI MI. DAM also acquired 39.96 million BNI AM shares from BNI Sekuritas and nearly all PNM IM shares. Mandiri Sekuritas and a Bank Mandiri employee cooperative also transferred their entire MMI holdings to DAM. This information is according to transaction disclosures reported by Katadata.

The Rp170 trillion figure represents assets under management, or money managed on behalf of clients; it is not the acquisition price.

As of June 2026, MMI managed approximately Rp77.49 trillion. BRI MI managed Rp52.61 trillion, BNI AM managed Rp29.59 trillion and PNM IM managed Rp10.31 trillion, ANTARA reported.

“Within the next month, these four asset management companies will merge to become one of the largest asset management entities in Indonesia,” Dony said.

Danantara previously designated MMI as the surviving legal entity. The other companies will be integrated into it through a phased corporate and regulatory process. Danantara said it would prioritize compliance, risk management and uninterrupted service for clients and business partners.

The consolidation aims to combine MMI’s institutional-investor expertise, BRI MI’s retail distribution, BNI AM’s balanced portfolio and PNM IM’s financial-inclusion focus.

Danantara expects the merged company to use the extensive distribution networks of Indonesia’s state-owned banks. This will allow them to offer more competitive mutual funds and investment products to individuals and institutions.

The strategy targets a rapidly expanding domestic market. The Indonesian Central Securities Depository recorded 28.3 million investors as of June 12, 2026. The Financial Services Authority reported investment-management industry assets of Rp1,049.84 trillion as of May 29.

The merger forms part of Danantara’s wider effort to reduce overlapping state-owned structures, improve governance and build larger national companies. Its success will depend on regulatory execution, smooth portfolio integration and whether clients receive better products without service disruption.