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Bloomberg
A crisis of confidence is brewing in Indonesia’s mutual-fund industry after some asset managers created products that invested in tiny, illiquid stocks, which have plunged in value.
The volatility has triggered a “serious issue†in the nation’s capital markets that’s raised public concerns, said Wimboh Santoso, chairman of Indonesia’s Financial Services Authority. The regulator last year restricted sales of certain mutual funds offered by 37 investment managers.