In this paper, we examine the Indonesian mutual fund industry and its performance evaluation. Indonesia is the fourth most populous country in the world with 273 million inhabitants in 2021 and it is expected that in 10 years it will enter the top 4 of the largest economies by GDP (by then it will be 300 million Indonesians). Indonesia is the largest economy in Southeast Asia (ASEAN region), a member of the G-20 and has been growing at rates of 6% since 2010. Despite the covid, the country's growth forecasts are 5.1% for the period 2023-2027. Buying stocks in Indonesia is still quite challenging, unless these stocks are listed in addition to the Asian country in Europe or the US. Considering that individual investors do not have much to choose from and that their stock market is small, perhaps the most attractive option is to do it through mutual funds. The economic growth expected for the next few years will possibly boost the country's stock market, as happened in China in the previous decade (2010-2020).