between Macroeconomic Variables and Net Asset Value (NAV) of Islamic Equity Funds: Evidence from Pakistan

2015 ◽  
Vol 1 (1) ◽  
pp. 23-28 ◽  
Author(s):  
Shahid Mohammed Khan Ghauri, et al.
Keyword(s):  
Macroeconomic Variables ◽  
Asset Value ◽  
Net Asset Value ◽  
Equity Funds

scholarly journals A Factorial Analysis of Information Ratio and Its Causal Effect on Yearly Return of Net Asset Value – A Study of Indian Equity Diversified Mutual Fund Schemes

2018 ◽  
Vol 7 (4.36) ◽  
pp. 707 ◽  
Author(s):  
Suman Chakraborty ◽  
Satish Kumar ◽  
Lumen Shawn Lobo
Keyword(s):  
Interest Rates ◽  
Mutual Fund ◽  
Causal Effect ◽  
Secondary Data ◽  
Information Ratio ◽  
Wide Range ◽  
Asset Value ◽  
Net Asset Value ◽  
Equity Funds ◽  
Sector Funds

Evaluation of performance of mutual fund schemes has gained a wide range of attention from both investors and academicians. The study aims at assessing the returns from equity mutual fund schemes in India by applying risk adjusted performance evaluation techniques. The study is based on secondary data collected for ten years for selected open ended equity diversified mutual funds. A comparative assessment of performance of public sector sponsored equity funds and non-government sponsored  sector funds bring forth with an interesting inference. The present study also constitutes a modest attempt to assess the information ratio and its causal effect on the average yearly return of Net Asset Value (NAV). Based on the previous research findings, this paper puts an honest effort to identify twelve independent variables which affects significantly the performance of NAV. The evaluation relies on the Sharpe, Trenor and Jensen’s technique, which have been applied in conjunction with parametric and non-parametric statistical tools using. The result shows significant relationship exists between the NAV return and fund’s risk, information ratio, macro-economic variables such as inflation, interest rates, market index performance, foreign flow of funds and foreign exchange on the basis of regression analysis. 

Managing a Shariah-Compliant Capital Protected Fund through Turbulent Times

2019 ◽  
Vol 17 (1_suppl) ◽  
pp. S32-S41 ◽  
Author(s):  
Ferhana Ahmad ◽  
Fazal Jawad Seyyed ◽  
Hafsa Ashfaq
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Strategic Choices ◽  
Risk Appetite ◽  
Asset Value ◽  
Turbulent Times ◽  
Net Asset Value ◽  
Equity Funds ◽  
The Global Financial Crisis ◽  
Positive Return

The case examines the performance and challenges faced by the Meezan Capital Protected Fund (MCPF) ensuing from the global financial crisis of 2008. The MCPF launched in May 2008 was the first-ever Shariah-compliant capital protected fund (CPF) offered in Pakistan targeted at conservative investors seeking principal protection along with upside exposure to equities through Shariah-compliant products and securities. The case is based on the scenario, the fund manager, Farhan Lakhani, is facing in early July 2009 following the colossal decline in stock markets crushing investor confidence in the financial system. Unlike equity funds, which had experienced an unprecedented drop in value during this period, MCPF had not only preserved its capital but also managed to generate a small positive return of over 1 per cent in terms of net asset value. Farhan sets out to capitalize on the extraordinary opportunity created by the financial crisis for CPFs to carve out a permanent space among an assortment of funds to mitigate risk for investors with low-risk appetite. He has to carefully review and analyse some of the key strategic choices to enhance the fund’s returns to meet investor expectations as equity markets recover from their historic lows; share his recommendation with the investment committee in two days.

scholarly journals Investment asset allocation in response to tax relief for mutual funds: The case of South Korea

2021 ◽  
Vol 18 (3) ◽  
pp. 347-358
Author(s):  
Hyeongtae Cho ◽  
SungMan Yoon
Keyword(s):  
South Korea ◽  
Asset Allocation ◽  
Test Sample ◽  
Management Style ◽  
Fund Managers ◽  
Tax Relief ◽  
Asset Value ◽  
Net Asset Value ◽  
Equity Funds ◽  
The Republic

This study examines whether the management style of a fund differs depending on the type of fund being managed for tax purposes, given the rules of temporary tax relief for fund investments. The study considers a change in the ratio of tax-favored assets to the net asset value of a tax relief qualified fund around the effective date of tax relief laws in South Korea in 2007 and 2016. A regression model is used to test sample data from domestic and overseas equity funds available in the three months before and after the 2007 and 2016 Restriction of Special Taxation Act came into effect. It was found that the ratio of the value of tax-favored assets to the net asset value in the tax relief qualified fund increased significantly since the enactment of tax relief laws in both 2007 and 2016. These findings suggest that fund managers may try to change the asset allocation in a managed fund to increase the after-tax return of the fund investor, which means that fund managers do take into account the potential tax burden on fund investors and try to minimize it. AcknowledgmentThis work was supported by the Ministry of Education of the Republic of Korea and the National Research Foundation of Korea (NRF- 2019S1A5A8035027).

scholarly journals The Influence of Price/Earning Ratio (PER), Price to Book Ratio (PBR) and Price to Sales Ratio (PSR) on Net Asset Value (NAV) in Sharia Equity Fund

2018 ◽  
Vol 6 (1) ◽  
pp. 91-102
Author(s):  
Gerry Immanuel Tanius ◽  
Rosita Widjojo
Keyword(s):  
Significant Influence ◽  
Capital Markets ◽  
Mutual Fund ◽  
Secondary Data ◽  
Equity Fund ◽  
Asset Value ◽  
Net Asset Value ◽  
Equity Funds ◽  
Small Investors ◽  
Short Time

From many kinds of investment in Indonesian capital markets, a mutual fund is one of the instrument to be discussed. Within a short time, the mutual fund gives a significant influence to the Indonesian capital markets. A mutual fund is one of the alternatives for the investors, especially for small investors or for the investor that does not want to meet high risk. In the growing of Indonesian capital markets, the net asset value (NAV) of the mutual fund should be increasing, and the increase of the NAV proves it. The sharia equity fund is no different. As an alternative investment, the sharia mutual fund in Indonesia is growing; however, it does not seem attractive to the investor, reflected by the small weighting from the mutual fund industry. The reason why investors are reluctant to invest in sharia equity fund is the volatility, compared to the conventional equity fund. To guide investors and to attract investment in sharia equity funds, some indicators can be used, such as PER, PBR and PSR. This study will use these indicators as the independent variables: PER (X1), PBR (X2) and PSR (X3) on the Net Asset Value (NAV) as the dependent variable (Y)  in sharia equity fund using the Jakarta Islamic Index (JII) data. In this research, the researcher uses a quantitative method using secondary data. The results show that there is a significant influence of PER, PBV and PSR on NAV in sharia equity funds. As a consequence, PER, PBR and PSR can guide investors’ decisions to invest in sharia mutual fund.   Keywords: PER, PBR, PSR, NAV, sharia mutual fund

scholarly journals ANALISIS UMUR REKSADANA, EXPENSE RATIO DAN KINERJA REKSADANA SAHAM DI PERUSAHAAN MANDIRI INVESTASI PERIODE 2014-2019

2021 ◽  
Vol 6 (1) ◽  
pp. 1-12
Author(s):  
Muhammad Helmi ◽  
Jumali Jumali
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Fund Performance ◽  
Mutual Fund Performance ◽  
Expense Ratio ◽  
Equity Mutual Funds ◽  
Asset Value ◽  
Net Asset Value ◽  
Equity Funds ◽  
One Year

Mutual funds are investment facilities that are used to raise funds from the investor community for further investment in securities portfolios by investment managers, and subsequently invested in stocks, bonds, time deposits, money market, and so on. Mutual fund performance is influenced by the determining factors of whether a mutual fund performs well or poorly, the mutual fund performance factor, namely the first is the age / age of the mutual fund (Fund Age), the second is the comparison between operating costs in one year and the average net asset value in one year (Expense Ratio) and the third is Net Asset Value (NAV). The formulation of the problems in this research are (1) How is the development of the age of equity funds in Mandiri Investasi for the 2014-2019 period? (2) How is the development of the stock mutual fund expense ratio at the Mandiri Investasi period of 2014-2019? net assets (NAV) of equity mutual funds performance at Mandiri Investasi for the 2014-2019 period. This study aims to determine the development of mutual funds age, expense ratio and net asset value (NAV) of the performance of Mandiri Investa Attractive (MITRA) equity funds in Mandiri Investasi for the period 2014-2019. The objects examined in this study are variables in the form of mutual funds age, expense ratio, and mutual fund performance (NAV). Methods of data analysis in this study using descriptive analysis methods. The results of the research conducted were the age development of Mandiri Investa Attraktf (MITRA) equity funds at the Mandiri Investasi company, which experienced an increase in age in 2014-2019. Expense ratio development in 2014-2019 has decreased. And in the development of equity mutual funds performance, namely the net asset value (NAV) in 2014-2019 experienced fluctuations.

scholarly journals Pengaruh Variabel Makro Ekonomi Terhadap Nilai Aktiva Bersih (NAB) Reksadana Syariah di Indonesia

2017 ◽  
Vol 4 (2) ◽  
pp. 144
Author(s):  
Choirum Miha ◽  
Nisful Laila
Keyword(s):  
Regression Analysis ◽  
Mutual Fund ◽  
Mineral Resources ◽  
Exogenous Variables ◽  
Macroeconomic Variables ◽  
Currency Exchange ◽  
Currency Exchange Rate ◽  
Analysis Technique ◽  
Asset Value ◽  
Net Asset Value

This research aims to determine the influence of macroeconomic variables affect Net Asset Value of Islamic Mutual Fund partially and simultaneously in Indonesia. The research also uses multiple regression analysis technique. The sample used for this research is obtained from monthly statistic data of Otoritas Jasa Keuangan, statistic of Bank Indonesia, and statistic of Ministry of Energy and Mineral Resources which had been published online from January 2009 to November 2015. The result of this research shows that partially, the inflation affects NAV of Islamic Mutual Fund insignificantly, interest rate affects NAV of Islamic Mutual Fund insignificantly, currency exchange rate affects NAV of Islamic Mutual Fund insignificantly, money supply affects NAV of Islamic Mutual Fund significantly, and Indonesia Crude Price affects NAV of Islamic Mutual Fund significantly. Simultaneously, all exogenous variables affect NAV of Islamic Mutual Fund in Indonesia.

scholarly journals The Effect of SBI Interest Rates, Rupiah Exchange Rates, and Inflation on Net Asset Value of Equity Mutual Funds in 2015-2018

Academia Open ◽  
2021 ◽  
Vol 4 ◽  
Author(s):  
Fatimatus Sholihah ◽  
Wiwit Hariyanto
Keyword(s):  
Exchange Rates ◽  
Interest Rates ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Secondary Data ◽  
Independent Variables ◽  
Equity Mutual Funds ◽  
Asset Value ◽  
Net Asset Value ◽  
Equity Funds

This study aims to determine the effect of SBI interest rates, Rupiah Exchange Rates, and inflation on the net asset value of equity funds in Indonesia for the 2015-2018 period.                This study uses a quantitative approach with analysis tests using multiple linear regression tests, where there are three independent variables and one dependent variable. The type of data in this study uses secondary data, in the form of data taken from the official website of Bank Indonesia. The research sample  was determined by purposive sampling method with sample criteria so that it obttained 9 samples of mutual fund products over four years from 2015-2018 so as many as 36 samples of Mutual Fund Products.         Based on the results of analysis technique that have been done, the results of 3 independent variables show that the exchange rate of the rupiah and inflation have no effect the net asset value of mutual fund shares, while the value of SBI interest rates effect the net asset value of stock mutual funds.

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