It is noted that several investment managers still issue protected mutual funds with various challenges. One of them is PT Surya Timur Alam Raya Asset Management (STAR AM). It is noted that STAR AM has just registered plans to launch the Star Protected XVII Protected Mutual Fund product at KSEI.

Head of Institutional & Intermediary Business STAR AM Kemal Fajri Mohsin said that currently his party already has effective permission from the regulator to market several series of protected mutual funds. The plan is that this product will be launched in the first half of 2022.

Even though faced with the fact that bonds now also have the same tax, namely 10%, Kemal is quite optimistic that protected mutual funds will still have high interest. Moreover, the underlying used in STAR AM's protected mutual funds will also provide attractive return potential for investors, especially retail investors.

"This protected mutual fund product can also be a first introduction product for novice investors who have no investment experience," said Kemal.

He added, this year investor interest in protected mutual funds will remain high. Moreover, with the planned increase in interest rates this year, it is projected to increase returns on protected mutual funds this year.

Kemal revealed that almost all of the protected mutual fund products that STAR AM will launch are offered to retail investors. Marketing through distributor partners, Mutual Fund Selling Agents (APERD) and sales teams who go directly to the field to offer retail investors is STAR AM's way of marketing its products.

On the one hand, his party does not deny that protected mutual funds will still have challenges this year. According to him, currently the supply of corporate bonds is still quite limited, which is an obstacle to the issuance of new protected mutual fund products.

"However, with the large network and network that we have in accessing underlying corporate bonds, we see that this supply limitation can be overcome," he added.

Regarding the potential performance of protected mutual funds this year, Wawan believes that this really depends on the underlying of each protected mutual fund.

However, he estimates that protected mutual funds that have underlying corporate bonds with an A rating will at least be able to provide returns in the range of 7% -10% this year.