Shadine Taufik · · 1 min readStockbit, Fullerton acquire Indonesian fund management firm
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Indonesia-based fintech firm Stockbit and Singapore-headquartered investment specialist Fullerton Fund Management have jointly acquired Ayers Asia Asset Management, an Indonesia-based company that provides investment management solutions for government agencies, institutions, and corporations.
With the acquisition of Ayers Asia, the involved parties will create and distribute solutions for both retail and institutional investors as well as intermediaries.
The move marks Fullerton’s entry into the Indonesian market, adding to its current offices in Singapore, London, Shanghai, and Brunei. The company is part of multi-asset management group Seviora, which was established by Temasek.
Stockbit was founded by Wellson Lo, Sigit Kouwagam, and Johny Susanto in 2013. The company offers a stock investment platform through its main app as well as mutual funds through Bibit.
In November 2022, the fintech firm released Stockbit Crypto, which allows users to trade without deposit or platform fees. It is currently only available on the Google Play Store.
See also: Indonesia’s Robinhoods face biggest test as market slows: retaining users
Editing by Miguel Cordon and Lorenzo Kyle Subido
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