“We can reach this,” Jokowi, as the president is known, said from the palace in Jakarta. “We give investors the freedom to choose whether to invest in the entire portfolio or to choose the thematic funds. This is what I think is unique.”
President Joko Widodo has set a US$200 billion ($268.2 million) goal for Indonesia’s new wealth fund in the next two to three years, aiming to fund his push for the resource-driven economy to rise up the value chain.
That’s double the US$100 billion target set earlier this year, and a long way from the fund’s US$15 billion start. The fund has been in talks with 50 fund managers and has received pledges from those in the United Arab Emirates, Japan, the US and Canada, which will help it grow to US$20 billion in six months, the president said Wednesday, April 7.
