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Global Funds Hit Pause on Indonesia After Prabowo Policy Changes
Indonesian President Prabowo Subianto’s attempt to engineer an economic renaissance is running up against a hard truth: Investors aren’t buying the vision he’s selling.
Some of the world’s biggest money managers are reluctant to rush back into the country’s assets after sweeping changes under Prabowo’s administration sent stocks tumbling by the most since 2011 last month. Investors from Melbourne to London say there are pockets of value but little incentive to load up, according to interviews with 12 buyside firms.