JAKARTA. The Financial Services Authority (OJK) has suspended 24 mutual funds managed by PT Kresna Asset Management (Kresna AM). The 24 mutual funds are worth Rp 2.49 trillion.
The suspension is stipulated in OJK Letter No. S-753/PM.21/2020 on August 5, 2020. In the letter, addressed to PT Kresna Graha Investama Tbk (KREN), OJK ordered an action be taken against Kresna AM as an investment manager.
In a stock exchange filing on Thursday (13/8), KREN Director Dewi Kartini said Kresna AM is currently clarifying and verifying the cause of the suspension of the 24 mutual funds.
According to Ms Kartini, Kresna AM's management said that until August 5 the company had never received a warning or notice from OJK regarding a violation related to the 24 mutual funds.
Kresna AM also said the company conducted its business in line with OJK's regulation, with the mutual funds managed professionally and invested in underlying assets in line with investment policies, prospectus, and collective investment contracts. (AM/MS)