KONTAN.CO.ID – JAKARTA. Amidst persistent pressure on the rupiah’s exchange rate, mutual funds denominated in US dollars are gaining significant traction, proving to be an increasingly attractive investment avenue. These instruments are perceived as a vital diversification tool, offering a strategic hedge against both domestic market fluctuations and potential currency weakening risks.
Analyzing data from Infovesta reveals a compelling performance among US dollar mutual funds. Notably, the Syailendra Russell IdealRatings Top 200 Islamic Technology Index USD fund showcased remarkable growth in its Asset Under Management (AUM), surging by 41.70% between December 2025 and April 2026, marking it as one of the top performers in the category.
According to its fund fact sheet as of April 30, 2026, the portfolio managed by Syailendra Capital is strategically allocated: 93.58% in stocks, 7.39% in deposits, with cash and cash equivalents at -0.97%. A closer look at the allocation highlights a strong focus on US technology giants. The largest portfolio holdings include NVDA UW Equity at 18.60%, AAPL UW Equity at 16.00%, and MSFT UW Equity at 11.67%, underscoring a conviction in the tech sector’s robust potential.
Rendy Wijaya, Fund Manager at Syailendra Capital, attributes the stellar performance of this mutual fund to the dynamic movement of US technology stocks, which form the core constituents of its portfolio. “This mutual fund’s constituents are primarily US-based technology stocks. The solid earnings growth exhibited by US technology companies has been a key driver behind the fund’s impressive performance,” Rendy told Kontan on Monday, May 11, 2026.
Looking ahead, Rendy sees continued attractiveness in US dollar-based global and Sharia-compliant equity mutual funds. Beyond offering valuable exposure to international markets, these instruments provide an excellent alternative for investors seeking to align their portfolios with Sharia principles. Rendy emphasizes that in an environment of sustained market uncertainty, investors require diverse investment alternatives to effectively mitigate risk, making US dollar mutual funds particularly opportune.
“The primary appeal for investors in US dollar-denominated mutual funds undeniably lies in their ability to diversify risk, addressing concerns related to both domestic capital market volatility and currency exchange rate fluctuations,” Rendy elaborated. This dual benefit positions them as a strategic component for a resilient investment portfolio.
However, Rendy cautions that investors must meticulously consider the risk profile unique to each product. He clarified that fixed-income mutual funds (RDPT) and money market mutual funds (RDPU) generally carry lower risks compared to equity mutual funds, though they also typically offer more limited return potential. For global and Sharia equity mutual funds, the principal risk often stems from a portfolio primarily composed of global companies, which might be less familiar to domestic investors.
Therefore, it is crucial for investors to thoroughly understand the constituents within a mutual fund’s portfolio before committing capital. One effective risk mitigation strategy Rendy suggests is phased fund placement, commonly known as dollar-cost averaging (DCA). Additionally, investors should diligently monitor future exchange rate movements, as these will directly influence the performance of their US dollar-based investments.
Rendy further highlighted that the advantages of investing in US dollar mutual funds extend beyond mere potential returns; they also encompass significant currency risk diversification benefits. He concluded, “By holding investment instruments denominated in different currencies, investors can substantially minimize future currency risks, thereby safeguarding their wealth against unforeseen market shifts.”
Summary
US dollar-denominated mutual funds are becoming increasingly popular as a strategic hedge against the persistent volatility of the rupiah and domestic market fluctuations. Data shows strong growth in these instruments, particularly those focused on the technology sector, such as the Syailendra Russell IdealRatings Top 200 Islamic Technology Index USD fund. This fund has achieved significant performance driven by robust earnings growth from major US technology giants like Nvidia, Apple, and Microsoft.
Industry experts emphasize that these funds provide essential diversification and protection against currency risk for resilient portfolios. While they offer attractive opportunities, investors are advised to carefully assess individual risk profiles and consider strategies like dollar-cost averaging to mitigate potential market volatility. Ultimately, investing in various currency-denominated assets remains a key method for safeguarding wealth against unforeseen global and domestic economic shifts.