The partnership allows Ovo users to invest with interest rates up to 5% -6% per year
The financial market outside China is increasingly in the interest of Chinese companies that export their cutting-edge technology to improve financial inclusion. For example, in Indonesia, Oppo’s cashless payment service relies on Bareksa, a market of mutual funds online.
The partnership allows Ovo users to invest with interest rates up to 5% -6% per year. “Our main goal is to improve financial literacy in Indonesia, in particular, to raise awareness of the importance of investments,” said Bareksa Karaniya Dharmasaputra CEO.
The number of customers of Bareksa mutual funds has reached 380,000 units
Founded in 2013, Indonesian Bareksa is the pioneering online investment fund platform. The company focuses on collaboration with major financial institutions and other fintech companies. In January 2019, the number of customers of Bareksa mutual funds reached 380,000 units, which represents over 30% of the number of mutual fund customers in Indonesia.
Recently investments in mutual funds have been strongly promoted in Indonesia. The Indonesian Mutual Fund and Investment Association is aiming for 50.25% growth this year, hoping to exceed 500,000 mutual fund investors as of December 2018. That of the new generations, or millennial investors, is a new market that should stimulate the growth of Indonesian mutual funds.
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