3 years ago
Managing Inflation
Inflation has become a concern of many countries globally due to supply chain disruption and high energy costs. Some countries have raised their benchmark rate to tame their rising inflation. In Indonesia, inflation is still below the historical average. Most of the time, inflation in Indonesia is driven by the rising fuel price and electricity prices. However, during the pandemic, the fuel and electricity prices has been stable. The question is whether the fuel and electricity price can be held stable at least until the end of next year as the domestic economy is just about to rise. Looking at the state revenue that grew 16.8% as of 9M21 while state spending declined 1.9% yoy as of 9M21, the government has robust reserves to carry to 2022. The condition can be the reason to remove the bond auction for the rest of the year.
Additionally, the government just passed October the tax reform law (Undang – Undang Harmonisasi Peraturan Pajak or UU HPP) including income tax, vat, carbon tax, voluntary disclosure program (tax amnesty II), and others. This can be the booster for state revenue, hence we think the government has the means to tame inflation if it is beyond expectation. By having inflation under control, Indonesian bonds can retain their real yield attractiveness. Meanwhile, the government will likely manage the state budget deficit back to below 3% in 2023. Looking at this whole picture in fixed income asset class, we think it is still attractive for bond investors to maintain their position at least until mid-2022.
Rekomendasi Produk
| PRODUK | |
|---|---|
| MIDU | Reksa Dana MIDU berinvestasi pada Instrumen Obligasi dengan segmen Jangka Menengah dan dikategorikan berisiko Rendah – Menengah. Investor memiliki risiko atas Portofolio Obligasi tersebut. |
| MIDO2 | Reksa Dana MIDO 2 berinvestasi pada Instrumen Obligasi dengan segmen Jangka Menengah dan dikategorikan berisiko Rendah – Menengah. Investor memiliki risiko atas Portofolio Obligasi tersebut |
| MINION | Reksa Dana MINION Fund Berinvestasi di Obligasi USD Pemerintah Indonesia dengan Periode Rendah – Menengah dan Kategori Risiko Rendah. Investor memiliki risiko atas Portofolio Pasar Uang tersebut |
Info lebih lanjut
Hubungi Mandiri Investasi – (021) 526 3505
Mandiri Investasi – www.mandiri-investasi.co.id
Moinves – www.moinves.co.id
DISCLAIMER
Pendapat yang diungkapkan dalam artikel adalah untuk tujuan informasi umum saja dan tidak dimaksudkan untuk memberikan saran atau rekomendasi khusus untuk individu atau produk keamanan atau investasi tertentu. Ini hanya dimaksudkan untuk memberikan edukasi tentang industri keuangan. Pandangan yang tercermin dalam konten dapat berubah sewaktu-waktu tanpa pemberitahuan. Seluruh data kinerja dan return investasi yang tertera di artikel ini tidak dapat digunakan sebagai dasar jaminan perhitungan untuk membeli atau menjual suatu efek. Data tersebut merupakan catatan kinerja berdasarkan data historis dan bukan merupakan jaminan atas kinerja suatu efek di masa mendatang. Investasi melalui reksa dana mengandung risiko. Investor wajib membaca dan memahami prospektus sebelum memutuskan untuk berinvestasi melalui reksa dana.
Written by
Leave a Reply