$29 Billion South African Money Manager Enters Indonesia as Stocks Slump 35%
Updated
Updated · Bloomberg · Jul 8
$29 Billion South African Money Manager Enters Indonesia as Stocks Slump 35%
1 articles · Updated · Bloomberg · Jul 8
Summary
A South African asset manager overseeing $29 billion has started buying into Indonesia, treating the recent rout as an entry point.
Indonesia’s selloff accelerated during the Iran war, deepening losses across local assets and creating the valuation gap the firm is targeting.
The Jakarta Composite Index is the world’s worst-performing benchmark this year, down more than 35% in dollar terms among 92 equity indexes tracked by Bloomberg.
MSCI’s January warning that Indonesia could be cut to frontier-market status over investability concerns and limited free float has been a major driver of the market’s slide.