ABOUT US


Syailendra Capital was founded in 2006 by three professionals with decades of experience and expertise in the Indonesian capital market. Our intention was simple:

To become the best local, independent fund management firm providing value-added investment solutions to our clients.

Syailendra Capital received its fund management license in November 2006, and started operations in January 2007. In that same month, the Syailendra OptiGrowth Fund (SOGF) was launched, raising Rp102.5 billion (USD11.4 million) in a full-discretionary closed-ended pool of funds. Not only was this our first fund, but it was the first of its kind in Indonesia: with a unique flexibility that allowed investors to switch from one asset class to another, and leverage up to 100% in a bullish market.

Syailendra Capital is not affiliated with any of the large business groups in Indonesia, and it is this independence that gives us our great competitive edge. Our independence ensures that our investment decisions are made without any conflicts of interest, and therefore allows us to provide superior returns for our clients.

Having successfully weathered four boom-bust cycles of the Jakarta stock market, we believe that our independence, integrity, proven individual track records and drive to provide the best returns for our clients’ investments, will ultimately help change the investment culture in Indonesia for the better.

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A fund manager’s performance is constantly monitored by both clients and staff, and underperformance is only tolerated for very short periods. Naturally, the temptation to switch investments around, and follow the crowd can be difficult resist. But the truth is, the more you worry about your competitors, the worse off you may become.

We’ve learned from experience to simply focus on our game, and to aim to deliver the best possible results. In our day-to-day investment decision-making processes, we do not benchmark ourselves against market indices. And against mutual fund norms, we are never compelled to have certain stocks in our portfolio just because they are significant constituents of a benchmark index. If we buy them, it is because we strongly believe in their fundamentals, growth prospects and potential price appreciation.

Multi-Strategy Approach

Our investing style combines value, growth and event-driven strategies, with a significant bias towards the first. We love buying into turnaround situations, undervalued and out-of-favour stocks once we identify the catalysts that could unlock the value of these stocks. This, we believe, is how we can obtain a powerful combination of re-rating and growth to generate above-average returns on investment.

We Are Fundamentalists

We do not subscribe to technical analysis apart from when they can help us time the entry and exit of a stock. Our stockpicking process is very much research and valuation driven, combined with rigorous top-down analysis. We avoid ideas that are speculative in nature, and we avoid companies whose management and controlling shareholders we do not trust.

Concentrate, Rather Than Diversify

We do not believe in over-diversification. In over 2 decades of investing experience, we’ve learned that you only need a few good ideas in a year to do well and outperform your peers. Typically, these few ideas contribute the lion’s share of your investment returns, so by correctly focusing on these ideas, you will leave the competition behind.

Unless otherwise constrained by local regulations – as is the case with our conventional mutual fund products – we generally allocate approximately two-thirds of our investment portfolio in what we categorize as conviction ideas (typically about 4-5 stocks) and the balance in trading ideas (perhaps 5-15 stocks). Within our core holdings, we would actively trade 20-30% of the positions to enhance the portfolio’s performance.

Stockpicking – The Key to Superior Performance

One final word about our investment philosophy: investing isn’t rocket science. There is no single, clear-cut formula that can guarantee success in investing. You can apply scientific and hedging techniques to limit your downside risks. You can apply leverage and increase portfolio concentration to boost returns. But in the end, it all comes down to the fundamentals. As Warren Buffet says, “If a business does well, the stock eventually follows.” In the end, you still have to pick the right stock.

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Indonesia is not a place where you can talk to the man on the street about stocks and mutual funds. The Indonesian stock market only came into real existence in the late ’80s, and mutual funds were first heard of as late as the mid-90s.

Indonesia’s mutual fund industry grew exponentially between 2002 and 2004, only to go back to square one in late 2005 following a massive redemption triggered by a sharp interest rate hike. Indonesia is, in essence, very much an emerging market.

This is a place where the investors – both individual and institutional – are still predominantly short-term oriented. This is a place where fixed income mutual funds are sold mostly by commercial banks, much like time deposits. This is a place where most investors want to get higher returns, but are not willing to accept higher risks. And this is a place where the crème de la crème are more comfortable stashing their money offshore.

But Indonesia is also a place where mutual fund assets only account for less than 5% of total savings and deposits in the local banking system. And this country of ours, with its rich natural resources and massive population of 220 million people, certainly has the potential to become the next India or even China in terms of economic developments… if managed properly.

There is, therefore, enormous growth potential in Indonesia’s fund management industry. The question, of course, is how to unlock such a potential given the challenging culture of the major population. This is where we come in.

Syailendra Capital is not your typical fund management firm. Inspired by the great cultural renaissance introduced by the Syailendra dynasty in the 8th century, we want to gradually change the face of the industry by being creative and innovative. We want to educate investors to learn to accept risks smartly, and to lengthen their investment horizon in order to earn higher returns. And finally, we want to be able to provide unique, value-added solutions to our clients’ increasingly complex investment needs.

In order to achieve this goal, we need to hire the best people in the industry. The best minds, however, will not be good enough for us unless they share the same vision and passion. This is because we want to have a big family in a small office. This is because we don’t aim to be the biggest; we aim to be the best. This is the Syailendra Capital culture.

Jos Parengkuan

President Director

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BOARD OF COMMISIONERS

Jos Parengkuan President Commisioners

Jos Parengkuan is the founder of the company and was appointed as president commissioners since September 2016. Previously he was the president director of the company (2006 – Sept 2016). He has 27 years of experience in the capital markets, encompassing equity research, investment banking and fund management. A graduate of City University Business School in London, Jos began his career with Citibank Jakarta before joining Lippo Securities as a research analyst. He later joined Danareksa, Indonesia’s leading investment banking firm in 1999, and established their wealth Management division in mid-2003.

Roy Himawan Commisioners

Roy Himawan is the co-founder of the company and was appointed as commissioners since September 2016. Previously he was the managing director of the company (2006 – Sept 2016). He has 21 years of experience in capital markets, mostly in retail Equity Sales. He began his career in 1995 with Lippo Securities, before moving to Trimegah Securities, Indonesia’s most successful retail brokerage house, where he managed a large equity sales force team for 6 years.

David Tanuri  Commisioner

David Tanuri has over 23 years of experience in capital markets and funds management. A bachelore in Political Science graduate of Trisakti University, Indonesian, David began his career with PT Trimegah Securities before joining Syailendra.

BOARD OF DIRECTORS

Fajar R Hidajat, CEO

Joined the company in August 2016 and was appointed as President Director (CEO) of the company in September. He has over 21 years of experienced in the capital market (10 years in stockbroking & 11 years in asset management industry). Key positions prior to joining include: Chief Executive Officer (CEO) of PT CIMB Principal Asset Management (2014 – June 2016), Chief Investment Officer (CIO) of PT CIMB Principal Asset Management (2012-2013), Investment Director at Trimegah Asset Management (2010-2012), Portfolio manager & Head Asset Management at Trimegah Securities (2005-2010) and Head of Research at Trimegah Securities (2000 – 2005).

Gunanta Afrima, COO

Joined the company in August 2016 and was appointed as Chief Operating Officer of the company in September. He has over 19 years of experienced in the capital market (9 years in debt fixed income and 10 years in the asset management industry). Key positions before joining include: Chief Operating Officer at PT CIMB Principal Asset Management (Operation, Finance and Product) – (2012-June 2016). Before that he serves as Commissioner of PT Insight Investments Management and Director of the same company.

Cholis Baidowi, CIO

Joined the company in August 2016 and was appointed as Chief Investment Officer of the company in September. He has over 21 years of experienced in the capital market (7 years in stockbroking & 14 years in asset management industry). Key positions prior to joining include: Chief Investment Officer (CIO) of PT CIMB Principal Asset Management (2013 – June 2016), Chief Investment Officer (CIO) at Trimegah Asset Management (2010-2013), Head of Equity investment at Trimegah Securities (2003-2010) and investment analyst at Trimegah Securities and Bahana Securities.

Harnugama, CMO

Joined the company in 2015, currently Harnugama is the Chief Marketing Officer (CMO) of Syailendra Capital. He has over 23 years of experience in the financial and capital markets. He graduated from Padjajaran University before commencing a career at Bank of Indonesia. After 4 years, he joined Bank PDFCI, and 3 years later he moved to Bank Danamon. Gama was there for 7 years before furthering his career at Danareksa Persero for 8 years with last position as senior VP.

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2015

Syailendra Fixed Income Fund

Category : Best Fixed Income Fund

2014

Syailendra lndo Balanced Fund, Best Mutual Fund

Category : Reksa Dana Campuran Tipe Moderat Periode 1 Tahun

2013

Syailendra Equity Opportunity Fund, Best Mutual Fund

Category : Equity Fund 1 Year Performance Majalah Investor KONTAN Edisi Khusus February 2013

2012

PT Syailendra Capital

Most Favorite Fund, Majalah Investor

Syailendra Equity Opportunity Fund
5 Star Rating Morningstar

5 Star Rating Infovesta

Syailendra Equity Opportunity Fund

5 Star Rating Morningstar

4+ Rating Infovesta

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