Indonesia currently utilizes two key Sovereign Wealth Funds (SWF) to manage national investments and drive economic growth: the Indonesia Investment Authority (INA) and the Badan Pengelola Investasi Daya Anagata Nusantara (Danantara Indonesia). While both institutions serve as pillars for national prosperity, their performance and reporting transparency have garnered significant attention.
The Indonesia Investment Authority (INA) delivered a strong financial performance in 2025, recording a net profit of Rp 7.44 trillion. This marks a significant 37.30% increase year-on-year (yoy) compared to the Rp 5.42 trillion reported in 2024. This growth was fueled by a robust 43.01% surge in revenue, which reached Rp 8.45 trillion, up from Rp 5.91 trillion the previous year.
Analyzing the expense structure, INA managed its operational and investment costs strategically. Investment expenses rose by 26.89% to Rp 130.99 billion, while operational expenses saw a modest increase of 4.38%, reaching Rp 669.31 billion. Notably, the institution effectively reduced its financial expenses by 17.84% to Rp 230.31 billion. Combined with a significant 192.99% jump in foreign exchange gains, INA’s pre-tax profit climbed by 52.83% to reach Rp 7.51 trillion.
Furthermore, INA demonstrated improved overall financial health as its other comprehensive loss narrowed by 41.66%, falling to Rp 6.77 trillion from the previous year’s loss of Rp 11.60 trillion. Consequently, the total comprehensive income for the year turned positive, reaching Rp 675.57 billion, a stark improvement from the comprehensive loss of Rp 6.18 trillion recorded in 2024.
Since its inception, INA and its co-investors have cumulatively deployed approximately Rp 74.5 trillion (US$ 4.7 billion) in investments, with INA contributing Rp 33.3 trillion (US$ 2.1 billion) of that total. Beyond domestic deployment, INA has successfully catalyzed Foreign Direct Investment (FDI) into Indonesia, totaling Rp 41.2 trillion (US$ 2.6 billion). In 2025 alone, INA and its partners invested Rp 15.7 trillion (US$ 982 million), with INA’s share amounting to Rp 10.5 trillion (US$ 654 million). By the end of 2025, INA’s Assets Under Management (AUM) reached an impressive Rp 146.2 trillion.
These capital allocations target strategic sectors aligned with Indonesia’s development goals and global investment trends, including infrastructure, transportation, logistics, green energy, digital transformation, and advanced materials.
A Different Path for Danantara
In contrast to INA’s transparent reporting, Danantara Indonesia has yet to release its 2025 annual financial report, despite having been operational for over a year. Representatives for Danantara explained that as a sui generis body established under Law Number 1 of 2025, its reporting obligations are governed specifically by that legislation and subsequent amendments under Law Number 16 of 2025.
“As a sui generis body, Danantara Indonesia continues to submit its annual financial reports to the government’s auditor, the Supreme Audit Agency (BPK),” the communication team stated on Friday, May 15. By definition, a sui generis entity is a unique, specialized organization established by law that operates outside the central or regional government structure, maintaining the autonomous and independent authority required to execute specific government functions.
Summary
The Indonesia Investment Authority (INA) reported a robust financial performance in 2025, achieving a net profit of Rp 7.44 trillion, which represents a 37.30% year-on-year increase. Revenue surged by 43.01% to Rp 8.45 trillion, while total Assets Under Management reached Rp 146.2 trillion. Since its inception, INA has successfully deployed Rp 33.3 trillion in capital and catalyzed an additional Rp 41.2 trillion in Foreign Direct Investment across strategic sectors like infrastructure and green energy.
In contrast, Danantara Indonesia has not yet released its 2025 financial results, citing its status as a sui generis body under specific legislation. While INA maintains transparent public reporting, Danantara operates under distinct legal frameworks that prioritize submission of reports directly to the Supreme Audit Agency (BPK). Consequently, the two institutions currently exhibit significant differences in their disclosure practices and operational reporting requirements.
