JAKARTA: Fixed mutual funds recorded a significant growth compared to other mutual funds during the first five months this year.Based on the data from Infovesta Utama released May 2011, the fixed mutual funds grew by 4.25% in the period of 31 December 2010 until 31 May 2011, while equity funds and discretionary fund rose by 1% and 2.42% respectively.Analyst at PT Infovesta Utama, Edbert Suryajaya sid that investment on equity funds and discretionary funds provide lower return compared to fixed mutual funds.Such phenomenon is caused by the relatively weakening stock movement compared to the 2010s closing.This condition is also contributed by a slump stock movement in early 2011 after reaching its highest level in the end of last year, he told Bisnis yesterday.Infovesta also unveils that bonds index once declined although it is not that significant. Such condition incurs positive impact towards the performance of fixed mutual funds that offers higher return supposes the market strengthens.Next, fixed mutual funds still grew by 4.25% while Jakarta Composite Index (JCI) climbed by 3.6%.In the meantime, the growth of discretionary mutual funds was below JCIs growth or only reached 2.42% while equity funds climbed by 1%.The volume of fixed mutual funds also rises into 42 fixed mutual funds, 17 discretionary funds and five equity funds.Of 42 fixed mutual funds, several recorded outstanding performance, including AAA Bond Fund with 4.23% return, BNP Paribas Prima II with 6.57% return, GMT Dana Obligasi Plus with 11.65% return, Panin Gebyar Indonesia II with 6.76% return and Reksa Dana Rido Dua with 5.36% return.There are four fixed mutual funds with negative performance, including Kresna Olympus(-3.8%), Manulife Pendapatan Bulanan II (-76%), Nikko Kalbar Fund (-2.35%) and Schroder Dana Andalan II (-1.89%).However, fixed mutual funds continue to generate positive results until the end of May 2011, yet Edbert is confident that stock market still potentially rises.Such notion sparks following Indonesias positive fundamentals such as significant economic growth and potential rise of Indonesia investment rating.Yet, he worries that the growth of fixed mutual funds will somehow decline amidst the optimism over a rising stock movement.The main factor that may negatively influence fixed mutual funds is the potential interest rate rise due to inflation jump.Permission revocationSeparately, Indonesia Mutual Fund Manager Association (APRDI) perceived the revocation of operating license on 10,000 mutual funds selling agent relates to the participatory level of that agents in selling the mutual funds.Head of Profession Certification and Standardization Compartment at APRDI Andreas Gunawidjaja affirmed that such operating license revocation is not caused by regulation violation.Such revocation is caused by a mutation or promotional program. (T02/NOM)
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