Jakarta. CEO of sovereign wealth fund Danantara, Rosan Roeslani, and CIO Pandu Sjahrir firmly deny reports that American investor Ray Dalio has withdrawn from Danantara’s advisory board.

Speaking to reporters on Wednesday at the Presidential Palace complex in Central Jakarta, Rosan said he recently met Dalio’s team, including his brother Mark Dalio, and that discussions have been smooth and ongoing.

“I just met his team last week, including Mark Dalio. We also had a Zoom meeting recently. No, no, no, there’s no cancellation,” Rosan said.

He stressed that the meetings, both in-person and virtual, are continuing without issue. “Yes, just last week, the whole team was involved,” he added.

Meanwhile, Pandu Sjahrir expressed surprise at the rumors and questioned their source.

“Where did that information come from?” Pandu asked the media.

He confirmed that communication with Ray Dalio and his team remains active. “We have been in contact. The CEO met with us last month, and his son met with us last week as well. We will discuss Ray’s role with the others,” Pandu said.

The rumors surfaced after a Bloomberg report on Wednesday, citing unnamed sources who said Dalio, founder of Bridgewater Associates --the world’s largest hedge fund managing $89.6 billion in assets-- had "personal reasons" for stepping back from Danantara.

Dalio was officially announced as a member of the advisory board of the newly-minted Danantara in late March, alongside former Thai Prime Minister Thaksin Shinawatra, Columbia University economist Jeffrey Sachs, and equity manager F. Chapman Taylor.

The fund’s Steering Council includes former Indonesian presidents Susilo Bambang Yudhoyono and Joko “Jokowi” Widodo, highlighting the initiative’s strategic significance.