Danantara Indonesia chief vows to keep politics out of trillion-dollar fund

As sovereign wealth funds are increasingly deployed as geopolitical tools, Indonesia’s new state-backed vehicle is setting itself apart by operating with transparency and professional discipline, according to one of its top executives.Pandu Sjahrir, chief investment officer of Indonesia" class="entity-link entity-organization" data-entity-id="28064" data-entity-type="organization">Danantara Indonesia, said the sovereign wealth fund was being run for profit rather than politics, even as governments around the world tapped heavily into such stashes to pursue strategic goals.“In the new geopolitical world, every country and every leader uses sovereign wealth funds as a geopolitical tool,” Pandu said at the South China Morning Post’s China Conference: Southeast Asia 2026 in Jakarta on Tuesday.“We cannot have politicians in the company. It has to be professional,” he said, adding that the fund had laid rules stipulating that it had to be run for profit.He acknowledged funds often had to balance national interests while meeting international transparency and governance standards.A sign for Indonesia’s sovereign wealth fund Danantara is seen in front of its headquarters in Jakarta. Photo: Reuters“Given where Danantara is today, there’s a lot of pull for us to do things that may be important for the country, but not yet profitable as a project,” he said. “The art of saying no is super important.”