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PG Asset Management


Corporate Majority | Acquired



About PG Asset Management

PG Asset Management is an investment manager company in the regional market of Indonesia.

Headquarters Location

Antam Office Park, Tower B, 11th floor Jl. TB Simatupang No. 1

Jakarta, 12560,


+62 021 29121010

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Latest PG Asset Management News

UOB completes purchase of 75% stake in Indonesia's PG Asset Management

Sep 4, 2019

The Straits Times UOB did not disclose the transaction price in its announcement on Wednesday (Sept 4).ST PHOTO: JASON QUAH Published Copy SINGAPORE - UOB Asset Management (UOBAM), a wholly-owned subsidiary of UOB, has expanded into Indonesia with the completion of its acquisition of a 75 per cent stake in PG Asset Management (PGAM). UOB did not disclose the transaction price in its announcement on Wednesday (Sept 4). Headquartered in Jakarta with a branch in Surabaya, PGAM has expertise in mutual funds across equity, debt and money market securities. Its products and services are available to both retail and institutional investors. Through this new subsidiary, UOBAM will offer to Indonesian investors its investment expertise across various asset classes and in areas such as Islamic investments, "smart beta" and multi-asset strategies. UOBAM will also establish PGAM as a centre to provide in-depth insights into the local market and specialised solutions in Indonesia-focused funds and investment mandates for investors across its network. With the acquisition, UOBAM has grown its regional network to eight markets in Asia, namely Brunei, mainland China, Indonesia, Japan, Malaysia, Singapore, Taiwan and Thailand. In particular, UOBAM is strengthening its franchise in South-east Asia through its expansion into Indonesia, which is the region's largest market. Citing data from the Financial Services Authority of Indonesia, UOB said the country's mutual fund industry rose 11 per cent year on year to 507.09 trillion rupiah (S$49.4 billion) in 2018. As at end-July 2019, the industry was valued at 536.88 trillion rupiah (S$52.2 billion). Thio Boon Kiat, group chief executive officer of UOBAM, said: "We see immense potential in Indonesia's asset management industry, driven by its economic development, increasing affluence and rising demand from individuals and institutions for investment solutions to protect and to grow their assets." UOBAM will also share with PGAM its experience and best practices ranging from research, fund development and management to advisory and sales. These include the use of technology to increase efficiency in areas such as data optimisation and product distribution to serve better the investment needs of Indonesia's digitally-savvy population. Incorporated in 2011, PGAM holds an investment management licence issued by the financial services authority in Indonesia. Multikem Suplindo, the other shareholder of PGAM, is wholly-owned by Indonesian venture capital fund Celebes Capital. Shares of UOB were trading up nine cents or 0.36 per cent at $25.02 as at the midday break on Wednesday. Topics:

PG Asset Management Frequently Asked Questions (FAQ)

  • Where is PG Asset Management's headquarters?

    PG Asset Management's headquarters is located at Antam Office Park, Tower B, 11th floor, Jakarta.

  • What is PG Asset Management's latest funding round?

    PG Asset Management's latest funding round is Corporate Majority.

  • Who are the investors of PG Asset Management?

    Investors of PG Asset Management include UOB Asset Management.

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