Mutual Funds Investment App "Kelola" to Target Young Generations

Kelola is a service developed to facilitate the public's access to the investment instruments, such as mutual funds. It's active from 2017, the service started with millennials as the target market. They expect to be the service to facilitate and help people to invest.

"On the current data, only 900 thousand of Indonesian people have mutual fund accounts for investment and only 600 thousand active users. Seen from the total population of productive age, still large opportunities in this sector. Regarding this, Kelola focused on investment literacy, particularly on Gen Z and millennials through social media, directly from Kelola app," Eyfrel Likuajang, Kelola's VP of Business Unit, said.

Competition among online mutual fund services is currently rising. Aside from two e-commerce giants, Bukalapak and Tokopedia, there are more services, such as Ajaib, XDana, Tanamduit, and INVISEE run business in the same segment.

Further, Likuajang said, Kelola was using very basic design due to making it easier for users to understand existing mutual fund products. They don't want users to be confused when first trying to invest with financial jargons not many are familiar with. Kelola always trying to keep up the promotion with financial literacy.

In terms of features, Kelola has a mutual fund purchasing system that allows users to have its products with one payment. In terms of payment, Kelola strives for an easy and fast transaction of Virtual Account. In terms of products, mutual fund types curated are directly chosen from the best Investment Management in Indonesia.

"We provide digital access for the public to invest on financial products, such as mutual fund, and in the future might be insurance, P2P lending, and commodity [gold]," he added.

In its first eight-month operational, Kelola has reached more than 23 thousand app installation and 2300 active investors with AUM (Asset Under Management) reached Rp26 billion. As an under a year old service, Kelola's focus is currently to increase market share and some other innovations.

"Later, Kelola will focus on improving market shares up to 15% by adding more types of investment products and focus on user acquisition, and literacy," he concluded.

– Original article is in Indonesian, translated by Kristin Siagian