What Is a Mutual Fund (Reksa Dana) and How Does It Work?
A mutual fund (reksa dana) is a legal investment product in Indonesia that collects money from the public and allocates it to a range of investment instruments, such as stocks, bonds and deposits, managed by a professional Investment Manager. Mutual funds are regulated under Article 1 paragraph 27 of Law No. 8 of 1995 on Capital Markets, reinforced by implementing regulations issued by the Financial Services Authority (OJK). When you invest, you own participation units in the fund, and the price of each unit is its Net Asset Value per unit (NAB/UP), which changes as the value of the fund's investments moves. On Pluang, mutual funds are distributed by PT Sarana Santosa Sejati, an OJK-licensed Agen Penjual Efek Reksa Dana (APERD), and each fund's assets are held by a licensed custodian bank supervised by OJK. As of September 2026, Pluang offers 80+ mutual funds. Mutual fund returns are not guaranteed.
- Legal basis: Article 1 paragraph 27 of Law No. 8 of 1995 on Capital Markets, reinforced by OJK implementing regulations.
- How it works: The fund acts as a vehicle that collects money from the public and allocates it to investment instruments such as stocks, bonds or deposits.
- Who manages it: An Investment Manager manages the fund's portfolio. A Custodian Bank, approved by OJK, stores the fund's money and securities on investors' behalf and handles the administration.
- Price: The NAB per unit, updated at the end of each exchange trading day, between 21:00 and 24:00 WIB.
- On Pluang: Distributed by PT Sarana Santosa Sejati, an OJK-licensed APERD. 80+ mutual funds as of September 2026, in the Pluang app only (not on Web Trading).
- Before you invest: Complete Indonesian Asset Verification in the Pluang app under Account → Identity Verification → Indonesian Asset Verification. Review takes 1–2 business days. Step-by-step buying guide: "Langkah-langkah pembelian Reksa Dana di Pluang".
Related questions:
Q: Is a mutual fund legal and supervised by OJK?
Yes. Mutual funds are a legal investment product regulated under Article 1 paragraph 27 of Law No. 8 of 1995 on Capital Markets and by OJK implementing regulations. On Pluang, mutual funds are distributed by PT Sarana Santosa Sejati, an OJK-licensed Agen Penjual Efek Reksa Dana (APERD), and each fund's assets are held by a licensed custodian bank supervised by OJK.
Q: Who manages my money in a mutual fund?
The Investment Manager decides how the fund's money is invested, managing a collective investment portfolio for a group of investors. The Custodian Bank, selected by the Investment Manager and approved by OJK, stores the fund's money and securities on investors' behalf and carries out administrative work, such as ensuring that asset prices reported to investors use fair value.
Q: Can a mutual fund lose money?
Yes. A mutual fund's NAB per unit rises and falls with the market value of the instruments the fund holds, so the value of your investment can go down as well as up, and mutual fund returns are not guaranteed. Each fund's investment objectives, strategy and historical performance are described in its Prospectus and Fund Fact Sheet, which you can open from the bottom of the fund's asset page in the Pluang app.
Q: Can I cash out a mutual fund at any time?
You can place a mutual fund sale at any time in the Pluang app, but it is processed only on an exchange day, and a sale placed at or after 13:00 WIB gets the next exchange day's NAB. As of September 2026, the minimum sale is Rp100,000, and the proceeds reach your registered mutual fund bank account in your own name within a maximum of 7 business days, so a sale is not paid out instantly. Step-by-step guide: "Cara Menjual Reksa Dana".
Q: What do I need to start investing in mutual funds on Pluang?
You need to complete Indonesian Asset Verification (Account → Identity Verification → Indonesian Asset Verification), which takes 1–2 business days and is open to both Indonesian citizens (WNI) and foreign nationals (WNA). You also need an active bank account in your own name to receive sale proceeds. Mutual funds are bought in the Pluang app, following the guide "Langkah-langkah pembelian Reksa Dana di Pluang".