Why is my balance automatically allocated to a mutual fund after 2 days?

Following the regulations of the Financial Services Authority (OJK), Cash Balances on KoinWorks accounts are not allowed to remain for more than 2 (two) days.

Therefore, KoinWorks as the provider of information technology-based lending and borrowing services has appointed Mandiri Manajemen Investasi (MMI) as the investment manager partner to manage these funds.

The funds will be invested in the Mandiri Investa Pasar Uang 2 (MIPU2) capital market instrument.

What is Mutual Fund?

Mutual fund is an alternative investment platform that is used to raise funds from the investor community for further investment into the Securities Portfolio by the Investment Manager (based on Law No. 8 of 1995 concerning the Capital Market).

What is the difference between investing and saving?

Saving is an activity to save money to be used at any time if needed.

Investment is the activity of investing money in a productive asset to obtain returns or achieve goals within a certain period.

How Are My Funds Allocated?

Your funds will automatically be invested in mutual funds if they stay in the Koinworks system for more than 2 days (T + 2).

This rule applies to all Lenders who have registered on the KoinWorks platform (except for foreigners / foreign nationals).

KoinWorks is currently integrated with PT Mandiri Manajemen Investasi where each Lender will receive a Single Investor Identification (SID) and an Investor Fund Unit Account (IFUA) so that the funds can be allocated into mutual fund units.

The invested funds will be recorded and kept by the Kustodian Bank where the whole process is supervised by OJK so that its security is guaranteed.

What is meant by SID and IFUA?

SID or Single Identification Number is a single and special code that indicates that you have been registered as an Investor.

Each Lender will only have one SID.

Therefore, if you already have a SID, PT Mandiri Manajemen Investasi will only make IFUA, which can use each Lender’s ID number.

SID itself is created to increase the safety of your investment product.

Meanwhile, IFUA or Investor Fund Unit Account is a special sub-account that is used to accommodate your mutual funds.

Who Will Manage My Funds?

KoinWorks in collaboration with PT Mandiri Manajemen Investasi, or commonly known as Mandiri Investasi, was established in December 2004 as a result of a spin-off from PT Mandiri Sekuritas.

Mandiri Investasi, as part of the PT Bank Mandiri Tbk Group, is the largest and most experienced local investment manager in their field.

With 14 years of experience, Mandiri Investasi is currently the largest national investment manager in Indonesia with a total AUM of IDR 55,376 trillion as of June 2019.

Can I Transfer Funds, Buy Loans, and Withdraw Funds?

Yes, you can continue your normal activities on the KoinWorks platform because all processes that are carried out with PT Mandiri Manajemen Investasi are integrated and can be run in real-time.

The loan purchase process can be carried out directly by Lenders without having to disburse mutual funds first.

Mutual fund ownership will automatically decrease according to the amount of funding you make.

The amount of funding is calculated based on the number of mutual fund units multiplied by the net asset value (NAV) price per unit for that day.

What are NAV and NAV per Unit?

NAV (Net Asset Value) of a mutual fund is the total amount of funds managed by the Investment Manager for the said mutual fund product.

NAV / UP = Net Asset Value per Participation Unit states the price of a mutual fund.

If I already have a SID, Will KoinWorks generate a new SID?

No, you will use your existing or previously registered SID.

But keep in mind, all activities carried out on the KoinWorks platform with PT Mandiri Manajemen Investasi, can only be accessed through KoinWorks.

You cannot access the balance that has been allocated to Reksa Dana Mandiri Investa Pasar Uang 2 (MIPU2) outside the Koinworks platform.

Where Can I See Fund Management Activities?

You can see all of your fund activities as well as your funds in and out by clicking three line images on the top right corner of the app, click “Cash Info”, click “Fund Transfer”, then click “Fund Transfer History”.

On the last page, you can scroll and find your money information history.

Is this Fund Management Safe?

The management of these funds is guaranteed safe because your Available Funds will be stored in a virtual account on your behalf by the Kustodian Bank in collaboration with PT Mandiri Manajemen Investasi, namely Standard Chartered Bank.

Are KoinWorks and PT Mandiri Manajemen Investasi also allocating KOIN to Mutual Funds?

The funds that will be allocated by KoinWorks and PT Mandiri Manajemen Investasi come from your cash balance so that if you have a KOIN in your Available Balance, KOIN cannot be allocated to mutual funds.

If I Want More Information About PT Mandiri Manajemen Investasi, How do the Contact?

You can contact either via email [email protected], telephone number 021 – 526 3505, or WhatsApp 0816 860003.