What are Mutual Funds?
Mutual Funds that vehicles are used to raise funds from the investor community, which are then invested in the Investment Manager's Participation Unit Portfolio.
What is a Securities Portfolio?
A securities portfolio is a collection of securities, namely debt acknowledgement letters, commercial securities, shares, approvals, proof of debt, participation units in collective investment contracts, investment contracts for securities, and any derivatives from securities. which are assets of a particular mutual fund based on investments made by its Investment Manager in accordance with its stated investment policies.
What is a Participation Unit?
A Participation Unit is a unit of measurement that determines the share of interest of each Participation Unit Holder in a Mutual Fund portfolio as calculated in the form of its NAV (Net Asset Value).
What is Net Asset Value (NAV)?
Net Asset Value (NAV) is a reasonable market value of the Participation Unit in the total value of money calculated by the Custodian Bank based on the net acquisition value per Participation Unit at the end of the Trading Day in question, after the bookkeeping for the Mutual Fund is completed, but without taking account increases or decreases in the Mutual Fund’s assets due to purchases and / or repayments received by the Custodian Bank on the same day in accordance with Rule Number IV.C.2, which is calculated and announced every Trading Day in accordance with POJK Number 47 / POJK.04 / 2015.
What is a Custodian Bank?
Custodian Bank is a Commercial Bank that has been approved by Bapepam and LK (now OJK) to hold Custodial business activities by providing custodial service for Securities (including Collective Custody for Securities which are collectively owned by one or more parties whose interests are represented by the Custodian Bank) and other assets related to Securities and other services, including receiving dividends, interest, and other rights, completing Securities transactions, and representing the account holders that are its customers.
What does Proof of Participation Unit Ownership consist of?
Proof of Participation Unit Ownership consists of written documentation that confirms ownership of a Mutual Fund Participation Unit in a Collective Investment investment contract issued by a Custodian Bank to the Holder of the Participation Unit, which directly confirms the number of Participation Units owned by each Participant Unit Holder.
What is meant by an ‘Investment Manager’?
The Investment Manager is a party that manages a securities portfolios for its account holders or manages a portfolio for groups of account holders, with the exception of insurance companies, pension funds, and banks who are carrying out their own business activities in accordance with applicable laws and regulations.
What is a Participation Unit Transaction Confirmation Letter?
A Participation Unit Transaction Confirmation Letter is a document or other proof that a Custodian Bank is required to issue and send to the Holder of Participation Unit within 7 (seven) Trading Days at the latest after receipt of the request for the purchase and / or resale as set forth in Chapter XIII and Chapter XIV of their Prospectus. Document or written evidence confirming ownership of the Mutual Fund Participation Units for Holders of Participation Units as meant above, can be submitted through:
a. Electronic media, if you have obtained approval from a mutual fund; and / or
b. Shipping services, including couriers and / or posts.
What is a Mutual Fund Public Offering?
A Mutual Fund Public Offering is when Participation Units are offered for sale by Investment Managers to the public based on the procedures governing relevant Capital Market Laws related to implementing regulations and contracts.
What are the procedures for opening a mutual fund account?
To open a mutual fund account at Valbury Capital Management, there are 2 (two) methods that you can choose:
You can sign up at for our online transaction portal, BRAVO
Directly contacting Valbury Capital Management by:
- Filling in the Account Opening forms and completing your profile
- Submitting an account opening form and attaching a copy of the required identity documents (KTP for Indonesian citizen or passport for foreigners) to the nearest head office or branch office
- The head office will request your personal data by calling you from telephone number 021-255 33 747
- Once the data confirmation has been successfully carried out, an account will be created for you including a Single Investor Identification (SID) number and and IFUA (Investor Fund Unit Account).
- Once the SID (Single Investor Identification) and IFUA (Investor Fund Unit Account) are ready, prospective investors / investors can start making Mutual Fund transactions.
What is the Mutual Fund Unit Subscription Procedure?
After obtaining an email confirmation regarding the SID (Single Investor Identification) number and IFUA (Investor Fund Unit Account), investors can purchase mutual funds as follows:
- Fill out and sign the Mutual Fund participation unit purchase form (can be downloaded from the website)
- Transfer funds directly to the mutual fund accounts as stated in the mutual fund’s product profile.
- Send a scan of the completed purchase unit participation form as well as proof of purchase to the Investment Manager in accordance with the applicable cut-off time (COT).
- In qualify for the NAV on the same day that you send the purchase instructions, you must subscribe by 13:00 WIB.
- The purchase form should be emailed to email@example.com with the subject: Mutual Fund Purchase.
After our marketing department confirms your SID (Single Investor Identification) and IFUA (Investor Fund Unit Account) over the telephone, you can purchase mutual funds in the following ways:
- Fill out and sign the Mutual Fund participation unit purchase form provided by Marketing.
- Transfer funds directly to mutual fund accounts as stated in the mutual fund’s product profile.
- Send a completed unit participation purchase form along with proof of your deposit to the Investment Manager in accordance with the applicable cut-off time (COT).
- The completed the form can be sent to the head office.
What is the Procedure for Mutual Fund Redemption?
- Fill out and sign the Mutual Fund participation unit sale form that you have downloaded from the website.
- Send a scan of the completed participation unit sales form to the Investment Manager in accordance with applicable procedures and the applicable cut-off time.
- For Redemptions, complete supporting documents must be received by 13.00 WIB.
- Or, you can scan the completed redemption form and email it to \ firstname.lastname@example.org with the subject, ‘Mutual fund redemption’.
- Fill out and sign the sale form for Mutual Fund participation units
- Submit a completed sales unit participation form to the Investment Manager in accordance with procedures and the applicable cut-off time.
- The completed forms can also be sent to the head office address.
What is meant by switching or transferring a Mutual Fund unit, and how is that done?
By switching or transferring mutual fund units, customers can transfer funds from one mutual fund account to another mutual fund, so long as the mutual funds in questions are still products of PT Valbury Capital Management and have the same Custodian Bank. The procedure is as follows:
- Fill out and sign the transfer form for the Mutual Fund participation unit in question
- Submit the completed participation unit transfer form to the Investment Manager before the applicable cut-off time.
What is meant by ‘cut-off time’?
Cut-off time refers to the time limit for mutual fund transactions, which is 13.00 WIB. So if you carry out a Mutual Fund transaction after 13.00 WIB, your transaction will be processed using on the next trading day using that day’s NAV/Unit.
Can Mutual Fund purchases and disbursements be made through accounts that do not belong directly to investors?
Mutual Fund purchases must be made directly through an investor's account or a family account, whereby the relationship can be proven by official documents (e.g. family cards). Whereas Mutual Fund disbursements can only be disbursed directly into the investor's account.
How long does the Mutual Fund unit sale process (redemption) take until the funds are received by the Customer?
Maximum T + 7 since the instruction for the sale of an Investment Fund unit is accepted, in accordance with procedures and the applicable transaction cut-off time.
What if during the sale of the Mutual Fund unit, the destination account number (customer account) is no longer active?
Customers must first change their account changes in accordance with applicable change of account provisions. The following are the procedures:
- Fill in the form for adding or changing accounts signed on the stamp
- Submit the form to the nearest head office or branch, and attach a photocopy of the front page of your bank passbook as well as a photocopy of your most recent ID card (KTP)
- After the form is received at the head office, we will confirm by telephone directly to the customer
- After everything has been confirmed, changes or additions to your account will be processed.
Can you open a joint Mutual Fund account at PT Valbury Capital Management? What are the requirements?
You can no longer open a joint Mutual Fund account using combined names ("AND" and "OR") but you can still use a Sub Account (“SA”). You will be required to attach a copy of the child's birth certificate (provided the child is <17 years old) or a family card.
Are the Mutual Fund’s investment return taxed?
No, because applicable Mutual Fund taxes have already been deducted when calculating the portfolio assets / NAV. This is in accordance with Law No. 36 of 2008, article 4 paragraph 3, point i, which reads: Exempt from the object of tax are as follows: the portion of profit received or obtained by a member of a private company whose capital is not divided into shares, partnership, associations, firms, and partners, including unit holders of collective investment contracts. Therefore, Mutual Fund Customers are not taxed again.
What proof of my Mutual Fund ownership at PT Valbury Capital Management will I receive?
Customers receive confirmation by email after subscribing, and they will be able to see the value of their Mutual Fund product and the number of units the they own after logging in to our system.
- Confirmation of Mutual Fund Transactions (Purchases, Sales and Transfers)
- Account Report (Monthly Report)
What are the risks of investing in mutual funds?
- Price Risk
Price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices (other than those arising from interest rate risk), whether caused by special factors related to the individual issuers of the financial instruments in question, or factors influencing many similar financial instruments traded on the market. Mutual Fund price risk arises from their investment portfolios, namely their equity securities portfolios. Investment managers manage the risk of mutual fund prices in accordance with the goals and policies of the Investment Fund and monitor the overall market position on a daily basis.
- Interest rate risk
Interest rate risk is the risk that the future fair value or contractual cash flows of a financial instrument will be affected by the interest rate company on the market. Mutual Fund exposure is affected by changes in the interest rates that are mainly related to securities portfolios. To minimize interest rate risk, Investment Managers invest using portfolio diversification strategies in several sectors, including sectors that are not sensitive to changes in interest rates.
- Credit risk
Credit risk is the risk that an Investment Fund will incur a loss arising from the failure of the issuer to fulfill its contractual obligations. The Investment Manager believes that there is no credit risk that is significantly concentrated in an issuer or group of issuers.
- Liquidity risk
Liquidity Risk is the risk of losses arising because the Investment Fund does not have sufficient cash flow to meet its liabilities.
Who can invest in mutual funds?
Individuals and companies can invest in mutual funds. To become an investor, you must be at least 17 years old and have an identity card (ID card for Indonesian citizens, or passport for foreigners).
What are the benefits of investing in mutual funds?
Investing in Mutual Funds offers several benefits. Among others they are:
- Safe, because they are managed by an investment manager, administered by a custodian bank registered and supervised by the Financial Services Authority (OJK).
- Easy. With Mutual Funds, investors do not need to worry about managing every financial instrument they own. There is an investment manager in charge of managing the investos’ entire portfolio.
- Affordable. While other investments require tens or hundreds of millions of rupiah, you can start investing in Mutual Funds at just IDR 100,000.
- Not taxed. Investment return on investment is not taxed.
- Liquid. Mutual funds can be redeemed at any time.
Where can I see the performance of a Mutual Fund?
You can see the performance of a Mutual Fund product through the Fund Factsheet published by the Investment Manager every month.
What mutual funds are suitable for me?
In order to figure the most suitable type of Mutual Fund for you, you need to determine your investment objectives and your risk profile. There are three types of investment risk profile categories:
You tend to choose investment instruments that are very safe with fixed returns, such as deposits. You only allocate a small portion of your investment funds if any to riskier instruments such as bonds or stocks. Money Market Mutual Funds would be suitable for you.
You tend to take greater risks, but are still careful in choosing the type of investment instrument, and you usually limit the amount of investment to risky instruments. Suitable Mutual Fund categories are Fixed Income Mutual Fund and Balanced Mutual Fund products.
You tend to take higher risks and dare to place most of your funds in risky instruments. Equity funds are suitable for your risk profile.