Indonesia’s largest pension fund Jamsostek is seeking to raise its equity investments to up to 24 percent in 2012, The Wall Street Journal reports. The state-owned fund plans to increase its investments in equity assets from the existing 22 percent because of lower interest rates.
Last week, the country’s central bank slashed its key interest rate by 50 basis points to 6 percent, which may compel banks to reduce interest rates on time deposits. Jamsostek handles funds totaling $12 billion, of which 30 percent are in time deposits and 40 percent in fixed-income assets.
Click here for the story from The Wall Street Journal.
