JAKARTA -- Two weeks ago, Indonesia launched a much-anticipated sovereign wealth fund, named Danantara, hoping in part to raise the odds of achieving President Prabowo Subianto's 8% growth target and also to emulate the success of Singaporean state investor Temasek Holdings.
Indonesia's President Prabowo Subianto has vowed to raise the country's economic growth rate, with a new sovereign wealth fund, Danantara, investing in key industries. But some investors worry the fund will become a political tool rather than a growth engine. (Nikkei montage/Source photo by AFP/Jiji)
Trading Asia
Investors are wary of Indonesia's new sovereign fund, hitting shares of state-owned banks
Authorities' assurances and price-boosting measures have so far failed to win over skeptics
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