Jakarta, Dec. 3 -- BRI Manajemen Investasi (BRI-MI) is developing what is set to become Indonesia's first Gold Exchange Traded Fund (Gold ETF), aiming to broaden commodity-based investment options and capture growing investor interest in gold as a safe-haven asset.

The initiative is being carried out in collaboration with PT Pegadaian, PT Bank CIMB Niaga Tbk (CIMB Niaga), and PT Mandiri Sekuritas. Under the partnership, BRI-MI will serve as investment manager, Pegadaian will provide and safeguard the physical gold, CIMB Niaga will act as custodian bank, and Mandiri Sekuritas will serve as dealer participant. The collaboration forms an integrated service chain from gold provision to safekeeping and market trading.

The memorandum of under...