(Bloomberg) -- PT Jaminan Sosial Tenaga Kerja and PT Manulife Asset Management, which together manage $10.4 billion in Indonesia, plan to buy stocks and reduce their allocations to bonds next year as economic growth accelerates. Jamsostek, as the nation’s state-pension fund is known, will raise its equity holdings to 18 percent from 15 percent, and lower the share of bonds to 46 percent from 50 percent, Investment Director Elvyn Masassya said in an interview in Jakarta. PT Manulife said it intends to increase equities to 60 percent in its flagship balanced fund from 55 percent and reduce bonds to 40 percent in six months or more.
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