Human Capital Development Plan 2018 As Company’s commitment to develop talent in capital market

industry as well as to fulfill organization needs, the Company plans to organize another Management Trainee (MT) Program in 2018. Besides AODP which has been successfully implemented to support retail business, the Human Capital Division also prepares another recruitment program for business unit with competency in wealth management or financial planning. This program aims to support Company’s goal to provide complete and integrated investment products and services for the clients.

To support employee’s performance, the Human Capital Division will also enhance employee evaluation process, particularly for development purpose, through assessment center, and evaluate human capital requirement comprehensively so that working units in the Company can function fairly and optimally. The employee training will be also sharpened according to the development in the capital market industry.

MANAGEMENT DISCUSSION & ANALYSIS

CORPORATE GOVERNANCE

CSR AND FINANCIAL LITERACY

EDUCATION

INTRODUCTION

REPORT FROM THE

Trimegah Asset Management

Kinerja ekonomi makro dan tren sosial-politik Indonesia pada Macroeconomic performance and Indonesia’s social and tahun 2017 cukup baik. Pertumbuhan ekonomi tahun 2017

political trend were seen positive in 2017. The 2017 economic diyakini akan tetap mencapai lebih dari 5%. Pemerintah

growth was expected to be higher than 5%. Government berhasil menjaga inflasi pada level yang rendah di 3,61%

successfully controlled inflation at low level of 3.61%, sehingga memungkinkan Bank Indonesia untuk menurunkan

which enabled Bank Indonesia to lower 7-day Repo Rate to 7-day Repo Rate ke level 4,25% di kuartal akhir 2017. Nilai

4.25% level at last quarter of 2017. Exchange rate of Rupiah tukar Rupiah terhadap dolar Amerika Serikat pun stabil

against United States Dollar remained stable around di kisaran Rp13.385/US$ selama tahun 2017, sehingga

Rp13,385/US$ throughout 2017 and brought sufficient memberikan ruang yang cukup bagi pasar modal Indonesia,

space for Indonesian stock market, either equity or bonds, baik saham maupun obligasi, untuk menunjukkan salah satu

to deliver one of the best performances in the last couple kinerja terbaiknya dalam beberapa tahun terakhir.

of years.

Sejalan dengan itu, industri reksa dana Indonesia juga In line with this condition, mutual funds industry mencatatkan pertumbuhan yang signifikan. Dana kelolaan

in Indonesia also recorded significant growth. Asset under industri reksa dana meningkat dari Rp339,1 triliun per akhir

management of mutual funds industry increased from 2016 menjadi Rp457,7 triliun per akhir 2017, atau tumbuh

Rp339.1 trillion as end of 2016 to Rp457.7 trillion as end of sekitar 35%. Jumlah investor reksa dana tercatat telah

2017 or grew around 35%. Total mutual funds investors melampaui angka 500.000 investor berdasarkan data Single

had been reported exceeding 500,000 investors based on Investor Identification (SID) dengan minat terbesar di reksa

Single Investor Identification (SID) data with the highest dana saham.

appetite in equity mutual funds.

Selama tahun 2017 Otoritas Jasa Keuangan (OJK) telah Throughout 2017, the Indonesia Financial Service Authority menerbitkan berbagai kebijakan dan peraturan yang (OJK) issued several policies and regulations to support mendukung pertumbuhan industri reksa dana, antara lain

mutual funds industry growth, among others, regulations in peraturan Dana Investasi Real Estate (DIRE), dana investasi

Real Estate Investment Funds (Indonesian version of REIT), infrastruktur, reksa dana multi aset dan sebagainya.

infrastructure investment funds, multi assets mutual funds and others.

Namun, di tengah kondisi tersebut, persaingan dalam industri However, amidst this condition, mutual funds industry reksa dana menjadi semakin ketat. Kualitas produk dan

experienced stringent competition. Product and service layanan menjadi perhatian utama kami dalam menghadapi

quality have become our priority to deal with the competition.

persaingan tersebut. Komunikasi yang intensif dengan para nasabah untuk memahami kebutuhan mereka menjadi salah satu fokus kami.

Kami juga menjunjung tinggi integritas, etika, dan kepercayaan yang diberikan oleh nasabah kepada kami dalam mengelola dana mereka secara prudent. Sebagai bagian dari sebuah perusahaan publik, kami mempertahankan komitmen untuk menjalankan praktik Tata Kelola Perusahaan yang Baik dengan menjaga kepatuhan terhadap setiap peraturan perundang-undangan pada setiap inisiatif bisnis dan operasional. Kami juga memastikan bahwa seluruh Standard Operating Procedure (SOP) diimplementasikan dengan baik untuk memastikan proses bisnis berjalan seperti seharusnya.

Untuk nasabah institusi, selain pendekatan langsung, kami juga terlibat dalam berbagai aktivitas yang diselenggarakan oleh asosiasi atau perhimpunan nasabah institusi. Untuk nasabah perorangan, kami aktif melakukan kegiatan sosialisasi dan edukasi dengan bekerja sama dengan para Agen Penjual Efek Reksa Dana (APERD) mitra kami.

Untuk mendukung proses kerja yang lebih efisien di middle dan back office, di bidang Teknologi Informasi, kami melakukan beberapa inisiatif, antara lain melakukan otomatisasi dan membangun perangkat pemantauan kepatuhan dan manajemen risiko.

Selama tahun 2017, kami berhasil memperoleh tambahan nasabah-nasabah institusi baru, meluncurkan 13 reksa dana baru dan berhasil mempertahankan posisi di peringkat

10 dalam dana kelolaan dari hampir 90 perusahaan asset management di Indonesia. Dana kelolaan kami tumbuh dari Rp10,5 triliun pada akhir 2016 menjadi Rp14,6 triliun pada akhir 2017, melebihi target sebesar Rp14,5 triliun.

Mendekati tahun politik, kami tetap yakin bahwa kondisi ekonomi makro di tahun 2018 akan tetap positif dan prudent, begitu juga dengan pasar modal Indonesia. OJK akan meneruskan inisiatif-inisiatif pengembangan industri reksa dana, sambil tetap memonitor implementasi prinsip kehati-hatian di seluruh pelaku reksa dana demi menjaga kepercayaan investor. Dengan masyarakat yang semakin sadar akan pentingnya investasi, dan semakin paham akan produk- produk pasar modal, kami sangat yakin investor appetite di reksa dana masih akan tetap tinggi dan terus meningkat.

Ke depan, kami akan semakin memperluas kerja sama dengan agen-agen penjual baru. Selain itu, kami juga menyadari perkembangan teknologi informasi atau Financial Technology (FinTech) yang sangat cepat akan memperluas akses publik terhadap produk-produk reksa dana. Oleh karena itu, ke depan, kami juga akan mengintensifkan kerja sama dengan agen penjual yang memiliki teknologi informasi yang unggul yang akan membantu distribusi produk kami kepada investor ritel.

Intensive communication with clients to understand their needs has also become one of our focuses.

We also uphold integrity, ethics and trust from clients in managing their funds prudently. As part of a public listed company, we preserve our commitment to exercise Good Corporate Governance by maintaining compliance to every law and regulation in every business and operational initiative. We also ensure every Standard Operating Procedure (SOP) to be well-implemented to ensure that business process runs as planned.

To institutional clients, besides direct approach, we were also involved in various activities organized by association or organization of institutional clients. For individual clients, we actively participated in socialization and education activities in collaboration with our Mutual Funds Selling Agents (APERD).

To support more efficient working process at middle and back office, we also implemented initiatives in Information Technology aspect, including automation and development of compliance and risk management monitoring tools.

Throughout 2017, we also successfully acquired new institutional clients, launched 13 new mutual funds and maintained position at Top 10 in asset under management from almost 90 asset management companies in Indonesia. Our asset under management size grew from Rp10.5 trillion as end of 2016 to Rp14.6 trillion at the end of 2017, higher than the target of Rp14.5 trillion.

Approaching the political year, we stay optimistic that macroeconomics condition will remain positive and prudent in 2018, similarly with Indonesian capital market. OJK will continue mutual funds industry development initiatives while also monitoring prudent principle implementation by mutual funds players to maintain trust of the investors. As the society has higher awareness on the importance of investment and better understanding in capital market products, we believe investor appetite in mutual funds business will remain high and growing.

Ahead, we will expand partnership with new selling agents. In addition, we also realize that rapid growth of information technology or financial technology (FinTech) will broaden public access to mutual funds products. Therefore, we will also intensify cooperation with selling agents with information technology excellence to help distributing our products to retail investors.

MANAGEMENT DISCUSSION & ANALYSIS

CORPORATE GOVERNANCE

CSR AND FINANCIAL LITERACY

EDUCATION

INTRODUCTION

REPORT FROM THE

Tinjauan Keuangan

Financial Overview

Total Aset

Total Assets

Total aset Perseroan meningkat 102,7% dari Rp1,6 triliun per The Company’s total asset increased by 102.7% from

31 Desember 2016 menjadi Rp3,2 triliun per 31 Desember Rp1.6 trillion as of December 31, 2016 to Rp3.2 trillion as 2017, dan aset lancar meningkat 107,7% dari Rp1,5 triliun per

of December 31, 2017, and the current assets increased by

31 Desember 2016 menjadi Rp3,1 triliun per 31 Desember 107.7% from Rp1.5 trillion as of December 31, 2016 to Rp3.1 2017. Peningkatan ini terutama disebabkan oleh kenaikan

trillion as of December 31, 2017. The increase was mainly due total piutang nasabah - neto, dan piutang beli efek dengan

to increase in receivables from customers – net, and reverse janji jual kembali.

repo receivables.

Total piutang nasabah - neto meningkat Rp1,2 triliun atau Total receivables from customers – net increased by Rp1.2 154,0% dari Rp761,7 miliar per 31 Desember 2016 menjadi

trillion or 154.0% from Rp761.7 billion as of December 31, Rp1,9 triliun per 31 Desember 2017. Kenaikan ini berkaitan

2016 to Rp1.9 trillion as of December 31, 2017. The increase dengan peningkatan transaksi pembelian saham dan obligasi

was related to an increase in stock and bond purchase oleh nasabah. Piutang beli efek dengan janji jual kembali

Human Capital Development Plan 2018 As Company’s commitment to develop talent in capital market