<![CDATA[Mutual fund management requires investment managers to act in good faith, exercise responsibility, and prioritize investors’ interests. Deviations from these obligations raise concerns about fiduciary compliance and investor protection. This study aims to analyze deviations from the collective investment contract by PT Narada Asset Management as a breach of fiduciary duty and assess the adequacy of administrative sanctions imposed by the Financial Services Authority. The study employs normative legal research using statutory and case approaches. Legal materials were collected through literature and document studies and analyzed qualitatively by examining legislation, regulatory announcements, contractual obligations, and relevant judicial decisions. The analysis indicates that failures in risk management, disclosure of material information, and fulfillment of redemption obligations constitute breaches of fiduciary duty. Administrative fines and written orders support regulatory compliance and market order, but do not by themselves ensure recovery of investors’ losses. Investor protection therefore requires administrative enforcement to be complemented by effective civil liability and accessible dispute resolution mechanisms. Strengthening contractual compliance, accountability, and access to judicial and alternative dispute resolution mechanisms is necessary to support remedies for affected investors.]]>
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