JAKARTA. PT Taspen (Persero) began to enter the market and purchase good stocks at low prices.
"With the decline in the value of the rupiah and the Jakarta Composite Index (JCI), it is now a good opportunity to start buying fundamentally strong shares from industries that have not fallen yet," said President Director of Taspen, Antonius NS Kosasih this week.
Antonius explained that his party's decision to enter the stock market was not solely a matter of commitment, but it saw a good opportunity to buy shares at low prices or bottom fishing. However, he was not willing to disclose the amount of investment and type of shares to be purchased. Taspen will also invest in fixed income instruments, he added.
Last year, Taspen obtained Rp 9.11 trillion from investments, recorded a growth of 19.08% year on year (YoY). Taspen invested 67.5% of its total investments in debt securities, followed by deposits (18.7%), mutual funds (6.7%), shares (4.9%) and direct investment (2.2%).
"The majority of Taspen's investments are placed in state bonds and corporate bonds with strong fundamentals, with very low risk, but still provide good returns," he said. (AM/AR)