End of Year Message.

End of Year Message.

Since my last posting I've had my mind elsewhere. I have spend alot of time at my parents house in Bekasi, and busy with my new offices set up in the center of our capital city. Recovering from my father illness and my brother new born son at his house in the eastern suburb of Jakarta. Now that I have caught up on some of my work on Green Funding, I thought I'd share some ideas on end of year reflection.
To me the end of each year brings another birthday, end of year spending decisions, budgeting for the next year and reflections on my life which culminate in resetting short term goals. My goals always consist of personal, family, business and "Big" idea goals. This year I met all of my short term goals despite a 2007,2008,2009, filled with personal and professional challenges. On balance, I maintained focus and with the help of family, friends and business associates, I learned alot about myself and will use the lessons learned in 2007 and past years to be a better person in years to come.
I look forward to 2011 with renewed energy and enthusiasm despite the doom and gloom portrayed by the current images of Our Society, especially in Indonesia. As individuals and businesses living in a free society, we own such a small slice of life, that each of us has such an opportunity to make a difference, albeit small. So, if I can have one wish for my family and yours, it is that 2011 be filled with much health and accomplishment towards a life filled with happiness and success.

David Darmawan,

Chief Executive Officer

DARMAWAN CAPITAL (Indonesian First Green Hedge Fund, General Partner), In Organization).

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Indonesia green foundation Kehati may ditch more external managers

Indonesia green foundation Kehati may ditch more external managers

The Indonesian biodiversity foundation, Kehati, may fire two of its three remaining global external asset managers as it shifts back to index investing for its US$21.75m endowment after abandoning actively managed alternative funds.

“Research and history have shown that few fund managers can beat the index,” Kehati’s director of finance and administration, Gustaaf A. Lumiu, told Investment & Pensions Asia.

“We will divest all hedge funds by the end of this year.”

Kehati started out with five global managers and now works with three -- JP Morgan, Morgan Stanley and The Investment Fund for Foundations – as well as two local Indonesian firms.

Mr Lumiu said that in the foreseeable future, there might only be one global manager.

The foundation started to hire external managers in 2003, after its passively managed portfolio reportedly lost $5.2m. US university and college endowments inspired the new strategy of trying to smooth returns by diversifying holdings.

Kehati started buying uncorrelated assets though arbitrage and event-driven hedge funds and real estate investment trusts (REITs); it also bought preference shares.

Mr Lumiu said that the experienced had been disappointing.

“Short-term investments can make high returns but in the long term, the returns disappear. We prefer to take a long-term view.”

As a result, Kehati would return to the original passive strategy it pursued for nearly a decade after it was founded in 1994.

“Our preference is to invest via index funds, as we don’t have a large full-time team to watch the markets daily. Perhaps if we had the infrastructure, we might invest differently.”

In recent years, assets have been primarily reallocated back to global and Indonesian equities, fixed income and balanced funds. The portfolio was 68% equities and 32% fixed income in 2008.

Aside from the three global asset managers, Kehati currently works with an investment adviser based in Canada and two Indonesian fund management firms, Mega Capital and Bahana.

Kehati invests in a Mega Capital’s green fund based on the SRI-Kehati Index, which the foundation launched in 2009 with the Jakarta Stock Exchange.

Kehati gives grants to help Indonesia preserve its biodiversity. It started life through a US$16.5m donation by the US Agency for International Aid (USAID).

The endowment’s market value in 2008, the latest annual report available, was US$21.75m.

Author: Bee Ong

Kehati Lestari Mutual Fund ”The First Indonesian Green Fund”.

Kehati Lestari Mutual Fund ”The First Indonesian Green Fund”

Reksa Dana Kehati Lestari adalah The First Indonesian Green Fund yang merupakan bentuk kepedulian terhadap kelestarian sumber daya hayati dan lingkungan hidup di Indoensia melalui pelaksanaan rogram Cororate Social Responsibility (CSR).
 
Leaflet ini berisi penjelasan seputar Kehati Lestari mutual fund, meliputi pengertian, tujuan, pilihan partisipasi bagi investor, komposisi reksa dana kehati lestari, serta sekilas tentang PT. Bahana TCW Investment management.

Darmawan Green Fund (In Organisation) : Ecology*Economy*Equity.

Our Mission:

To accelerate the transition to sustainable building, energy and economic practices.

Our Vision:

Is that humanity develops economic systems that restore the environment and create wealth and health for people all across the globe based on Indonesian Prospects Unity in Diversity.

In this new development model:

• Clean, renewable energy sources have replaced fossil fuels;
• People live, travel and do business in ways that are good for the environment, good for the economy and good for communities;
• All people have opportunities to become economically comfortable;
• Buildings are made of sustainable materials and generate more energy than they consume;
• We are effectively slowing global climate change, while growing a strong economy based on our green businesses.

Now, we are moving to this direction.

At this point the biggest obstacle to transitioning to post-fossil fuel, low carbon, energy, transportation and business systems is not lack of awareness or concern, but rather lack of concrete examples of how to do things differently, sustainably.

Darmawan Consulting is evolving to meet this need. We are expanding our consulting and policy development services to help progressive entrepreneurs and government agencies create real life successful, profitable green buildings, clean energy projects, low carbon footprint businesses and sustainable economic and green jobs development projects.

Our mission, to accelerate the transition to sustainable building, energy and economic practices, remains the same but our means to that end are evolving.

We are moving beyond identifying problems to focusing fully on implementing solutions.

Our services include:

• Technical expertise on clean energy, green building and other green technologies
• Securing tax and cash incentives and investors
• Strategic planning / business plan development
• Marketing, communications, public relations development
• Corporate sustainability plans / programs
• Carbon inventories and emission reduction plans
• Green jobs status and opportunities analysis
• Clean energy / green building policy development

We look forward to continuing to work with our current clients and to working with many new clean energy entrepreneurs, green architects, builders and developers, forward thinking government agencies and innovative companies of all kinds. These real world projects hold great promise for bringing about the economic, political and cultural changes needed to protect our blue planet and to create stability and prosperity for our kids and grandkids.

Sincerely,

 

David DarmawanGeneral Partner
Darmawan Green Fund

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