scholarly journals Analisis Kinerja Reksadana Saham dan Reksadana Indeks dalam Penilaian Tingkat Efisiensi Pasar Modal di Indonesia

2021 ◽  
Vol 3 (2) ◽  
pp. 105-120
Author(s):  
Ainani Nur Aziqoh
Keyword(s):  
Mutual Funds ◽  
Capital Market ◽  
Mutual Fund ◽  
Investment Funds ◽  
Equity Funds ◽  
Reference Index ◽  
The Capital Market

Mutual funds are designed to raise investment funds. The objectives of this study are: to determine the performance of mutual funds on the LQ-45 index is higher than the performance of equity funds in the Indonesian capital market and to measure the level of efficiency in the capital market using CAPM modeling and using Net Active Value (NAV) data per year for the 2015 period. -2019. To determine whether a mutual fund is good or bad, it is not measured by how much the return has been generated or by how big or small the risk of fluctuation is, but this is seen from how much the mutual fund performs with its reference index. If the performance of index mutual funds is better or the performance of stock mutual funds is lower overall, the capital market can be said to be efficient. The results of this study indicate that the performance of the LQ-45 index mutual funds is smaller than the performance of the more superior stock mutual funds above. So it can be concluded that the Indonesian capital market is an inefficient Indonesian capital market.  

scholarly journals Investors’ Attentiveness towards Mutual Funds in Nepal

2020 ◽  
pp. 88-99
Author(s):  
Sudip Wagle
Keyword(s):  
Mutual Funds ◽  
Capital Market ◽  
Mutual Fund ◽  
Sampling Method ◽  
University Student ◽  
Adequate Knowledge ◽  
Investment Choice ◽  
The Government ◽  
Structured Questionnaire ◽  
The Capital Market

The growing enthusiasm for mutual funds among the investment choice is an anxiety in the Nepali capital market. The paper aims to find out the investors’ eagerness towards mutual funds in Nepal. This investigation is descriptive and based on a structured questionnaire survey of 125 (out of 140) respondents from the broker office in Chitwan District. The stratified sampling method was used, based on four strata (Businessperson, university lecturer, university student, institutional and local investor) of the respondents’ socio-demographic, adequate knowledge, and factors determination areas. The paper has three major discoveries. First, Nepali investors were dominated by male gender like as in other countries, and university students were excited in the capital market for investment that most common only in Nepal. Second, investors were investing in mutual funds without sufficient knowledge although most investors were aware of political instability. Lastly, investing in common stock rather than mutual funds, followed by the players who made the mutual fund more effective were the most prioritized factors and awareness to invest in mutual funds was the least factor while investing by an investor. Moreover, the correlation among all variables was positively significant. This paper is valuable to the government bodies, academicians, concern companies, and investors, which help them to know more about mutual funds. This study concludes differently from previous studies that individuals prefer to invest in the capital market rather than a bank deposit, which is probably the new appearance in Nepal.

STRATEGI GERILYA DALAM MENGGUGAH KESADARAN MASYARAKAT ATAS INSTRUMEN INVESTASI PADA PRODUK PASAR MODAL SYARIAH KHUSUSNYA REKSA DANA SYARIAH

2019 ◽  
Vol 2 (2) ◽  
Author(s):  
Sri Anugrah Natalina
Keyword(s):  
Mutual Funds ◽  
Portfolio Management ◽  
Capital Market ◽  
Mutual Fund ◽  
Supervisory Board ◽  
Investment Portfolio ◽  
Investment Funds ◽  
Implementation Evaluation ◽  
Investment Patterns ◽  
Selection Of

Indonesia's financial market is a potential target, because there are still many Indonesian who in their investment patterns do not reflect the diversity and choice of modern investment instruments. This becomes a "homework" to be completed. The maximum absorption of investment funds from Indonesian society that is still conventional can "excite" the capital market again. Shariah mutual funds have a special appeal compared to other types of mutual funds. Shariah mutual funds are currently not limited to Muslims because the general public, who have seen the benefits of investment based on the selection of sector and company with certain criteria, are more promising and minimize risk. Investment portfolio management works based on the framework for investment management which covers the process of planning, implementation, evaluation and adjustment. In mutual funds, investment managers are responsible for investment activities, which include analysis and selection of investment types, and taking necessary actions for the benefit of investors. If there is a problem in the future and the investor wants to change the form of his investment, then he can do the resale of the Shariah mutual fund shares to the mutual fund company where he invests. The Shariah Supervisory Board oversees the transactions of Mutual Fund issuing companies, because the halal returns / funds obtained through mutual funds depend heavily on investment activities carried out by investment managers. The advantage of investing in Shari'ah mutual funds is that it can be done in retail so that the initial investment can be adjusted to financial capability and its value is small. Other benefits include the relatively higher yield of deposits and tax free, as well as the existence of routine audits and supervision by the Shariah Supervisory Board (DPS). Key words: Syariah Mutual Funds, Portfolio Management, Shariah Supervisory Board

scholarly journals IMPLEMENTATION OF SYARI'AH ECONOMIC PRINCIPLES ON THE MANAGEMENT OF SYARI'AH MUTUAL FUND IN INDONESIA

Yuridika ◽  
2018 ◽  
Vol 33 (2) ◽  
pp. 316
Author(s):  
Nunung Rodliyah ◽  
Risti Dwi Ramasari
Keyword(s):  
Mutual Funds ◽  
Financial Institutions ◽  
Capital Market ◽  
Mutual Fund ◽  
Islamic Law ◽  
Financial Institution ◽  
Supervisory Board ◽  
Literature Study ◽  
Economic Principle ◽  
The Capital Market

Syari’ah Financial Institution is one of the institutions of Islamic doctrine that is currently mushrooming in the midst of modern Indonesian society. Along with the growth of syari'ah financial institutions, MUI issued that interest is usury which is unlawful. The entry of syari'ah financial institutions in Indonesia made a new breakthrough in the syari'ah capital market. One of the products of syari'ah capital market is Syari'ah Mutual Fund. Syari'ah mutual funds are defined as mutual funds as referred to in the Capital Market Law and its implementing regulations whose management does not conflict with the principles of syari'ah in the capital market. The problem of this research is how is the interpretation of the regulation of syari'ah economic principle in Indonesia and how is the management of Syari'ah Mutual Funds based on syari'ah economic principle in Indonesia. This research is normative research with descriptive research type. The approach used is normative juridical. The data collection was done by literature study and document study. The data used are secondary data consisting of primary legal materials, secondary legal materials, and tertiary legal materials. The collected data is then analyzed qualitatively. The findings of the research show that there are 3 (three) principles of syari'ah economy namely the principles of Tauhid, Justice, and Benefits. The regulation of syari'ah economic principles in Indonesia is regulated in the DSN-MUI and compilation of Islamic law. Basically syari'ah economic principles are in the field of Bank financial institutions and Non-Bank financial institutions. The arrangement of syari'ah economic principles, as well as regulated in law but also governed by Syar'i Law and Fiqh law through Ijtihad, by the method of Mashlahah Mursalah. Implementation of investments in Syari'ah Mutual Fund transaction mechanism in investing through Syari’ah Mutual Funds should pay attention to things that are not against the Islamic Syari'ah. Implementation of the transaction contract should not be contrary to the Islamic Syari'ah, whether prohibited because (1) Forbidden in addition to the substance, which contains tadlis, ihtikar, ba'i najasy, garar, and usury, as well (2) Because unauthorized, i.e. the order and conditions are not met, there ta'alluq, and there are two contracts in one transaction simultaneously. The idea of syari’ah economic principles recommends to the Syari’ah Banking Supervisory Board to make further regulation in the development of investing through Syari’ah Mutual Funds in Indonesia.

scholarly journals Risk Tolerance and Satisfaction Level of Mutual Fund Retail Investors

2020 ◽  
pp. 25-32
Keyword(s):  
Mutual Funds ◽  
Capital Market ◽  
Mutual Fund ◽  
Risk Tolerance ◽  
Study Analyse ◽  
Retail Investors ◽  
Retail Investor ◽  
The Right ◽  
Fund Investment ◽  
The Capital Market

The retail investors in India are characterized by an affinity to avoid risk and they lack the mental readiness to absorb the shocks of the volatile capital market. Hence, to attract the surplus funds possessed by the retail investors into the capital market, intermediaries like mutual funds are required. Though apparently mutual funds were intended to cater to the needs of the retail investor, the stock market has not won investors’ confidence to attract a growing share of household’s financial savings. Today, more players are entering into the market and a naïve investor is unable to deploy the investment in the right direction. The study analyse the retail investors financial decision in terms of investing their savings in the capital market through mutual fund investment. The study found that, investor’s with moderate risk tolerance level prefer to invest in mutual funds and return, marketability and liquidity are the most satisfying factors investor they look on.

Institutional Investors on the Securities Market

2003 ◽  
pp. 95-101
Author(s):  
O. Khmyz
Keyword(s):  
Financial Crisis ◽  
Capital Market ◽  
Hedge Funds ◽  
Institutional Investors ◽  
Securities Market ◽  
Main Role ◽  
Investment Funds ◽  
Investment Process ◽  
The Capital Market

Acording to the author's opinion, institutional investors (from many participants of the capital market) play the main role, especially investment funds. They supply to small-sized investors special investment services, which allow them to participate in the investment process. However excessive institutialization and increasing number of hedge-funds may lead to financial crisis.

A Critical Analysis of Selected Public and Private Mutual Fund Schemes in India

2019 ◽  
Vol 118 (8) ◽  
pp. 28-34
Author(s):  
Dr. V. Murali Krishna ◽  
Dr T. Hima Bindu ◽  
Dr. Ravikumar Gunakala
Keyword(s):  
Mutual Funds ◽  
Capital Market ◽  
Mutual Fund ◽  
Portfolio Diversification ◽  
Financial Intermediaries ◽  
Public And Private ◽  
Fund Managers ◽  
Fixed Base ◽  
Banking Institutions ◽  
Different Levels

Mutual Fund Industry is one of the emerged dominant financial intermediaries in Indian Capital Market. The main objective of investing in a mutual fund is to diversify risk. Though the mutual fund invests in diversified portfolio, the fund managers take different levels of risk in order to achieve the schemes objectives. Mutual funds allow portfolio diversification and relative risk management through collection of funds from the savers/investors, the same investing in equity and debt stocks. This type of invested funds is managed by professional experts called as fund managers Funds are categorized as income should fixed base in India are a kind of mutual fund which makes investment in debt securities that have been issued to the corporate, banking institutions and to government in general

scholarly journals ANALYSIS OF THE PERFORMANCE OF INDONESIAN MUTUAL STOCK FUNDS USING SHARPE, TREYNOR, JENSEN AND M2 METHOD PERIOD 2010 – 2019

2021 ◽  
Vol 2 (1) ◽  
pp. 1-9
Author(s):  
Andreas Andreas ◽  
Sautma Ronni Basana
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Market Performance ◽  
Composite Index ◽  
Equity Mutual Funds ◽  
Equity Funds

This study examines the performance of equity mutual funds using Sharpe, Treynor, Jensen, and M2. The sample used in this study is 57 stock mutual funds in 2015 – 2019 and 29 stock mutual funds in 2010 – 2019. The performance of stock mutual funds will be compared with LQ – 45 and IHSG to find out whether they underperform or outperform on market performance. The results showed that when seen in years 2015 - 2019 with the benchmark LQ - 45, 11 equity funds outperformed by using Sharpe, Treynor, and M2, and 12 mutual funds stocks outperformed by using a Jensen. Using the Composite Index as the benchmark, it is found that four equity funds outperformed by using Sharpe, M2, and 5 equity funds outperformed by using Treynor and Jensen from 57 samples of mutual fund shares. From the performance of the year 2010 - 2019, it is found that the 10 equity funds outperformed by using Sharpe and M2, and 15 equity funds outperformed by using Treynor and Jensen with LQ – 45 as the benchmark. The Composite Index found that 0 of stock mutual funds outperformed by using Sharpe and M2, while 3 mutual funds outperformed using Treynor and 2 mutual funds outperformed using Jensen from 29 stock mutual funds samples.

scholarly journals FAKTOR INTERNAL YANG BERPENGARUH TERHADAP KINERJA REKSADANA SYARIAH DI INDONESIA PERIODE 2014-20171)

2020 ◽  
Vol 6 (1) ◽  
pp. 114
Author(s):  
Farah Faadilah ◽  
Puji Sucia Sukmaningrum
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Coefficient Of Determination ◽  
Expense Ratio ◽  
Turnover Ratio ◽  
Equity Funds ◽  
Endogenous Variables ◽  
Negative Effect ◽  
Fund Size ◽  
Positive Effect

This study aims to determine the effect of fund size, expense ratio and turnover ratio. The data used in this research is the net asset value data and shariah mutual fund prospectus of 4 shariah equity funds for the period 2014-2017. This study describes using multiple linear regression test to prove the relationship between exogenous and endogenous variables. The result of the test shows that partially fund size and positive effect is not significant on the performance of Islamic stock mutual funds, the expense ratio has no significant negative effect on the performance of Islamic equity mutual funds, while the turnover ratio has a significant positive effect on the performance of sharia mutual funds. While simultaneously fund size, expense ratio and turnover ratio have a significant influence with the coefficient of determination of 25,06%% while the remaining 74,94%  influenced by other variables not included in this study.Keywords: Sharia Mutual Funds Performance, Turnover Ratio, Cash Flow, Expense Ratio

scholarly journals Evaluation of Mutual Funds Performance And Consistency test over the use of Performance Sizing Methods

2020 ◽  
Vol 5 (6) ◽  
pp. 650-656
Author(s):  
Eka Kusumawati ◽  
Ega Bagja Nugraha
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Sharpe Ratio ◽  
Superior Performance ◽  
Ratio Method ◽  
Surveillance Period ◽  
Consistency Test ◽  
Asset Value ◽  
Equity Funds ◽  
Coefficient Of Concordance

The development of mutual fund industry in Indonesia has increases every year. From those several types of equity funds, the Net Asset Value (NAV) of mutual funds has increased by quite high number from year to year compared to other types. This research was assess the performance of mutual funds and examine those several consistency over the use of performance sizing methods from Sharpe ratio, Treynor index and Jensen's Alpha methods. Current problem who was stumbled was how the performance of stock mutual funds was measured by the Sharpe ratio, Treynor index and Jensen's Alpha methods and whether there has consistency over its performance by using it. The recent sample was 37 mutual funds that were registered at BAPEPAM-LK and still operating in Indonesia from January 2009 to October 2013. Performance evaluations used Sharpe ratio method, Treynor index and Jensen's Alpha. As for assess those consistency of the use performance sizing methods was done by Kendall coefficient of concordance (W) test. The result over this research said that Panin Dana Maksima and Panin Dana Prima are the best mutual funds, this could be seen during these surveillance period which found that mutual fund has superior performance above the market. The result of consistency test over those performance of stock mutual funds using Kendall W's concordance coefficient found that there has consistency or harmony when evaluated the performance of equity funds by using Sharpe Ratio, Treynor Index and Jensen's Alpha methods during those period.

An Empirical Study on the Performance of Select Large Cap Equity Mutual Funds in India

2015 ◽  
Vol 2 (1) ◽  
Author(s):  
Samyabrata Das
Keyword(s):  
Mutual Funds ◽  
Asset Management ◽  
Mutual Fund ◽  
Human Element ◽  
Risk Return ◽  
Equity Mutual Funds ◽  
Equity Funds ◽  
Managed Funds ◽  
Opening Up ◽  
Fund Return

Since the opening up of the economy in the early 1990s, Indian mutual fund industry has witnessed fabulous quantitative growth. Funds which invest a larger proportion of their corpus in companies with large market capitalization are called large cap funds. Actively managed funds make use of a human element, such as a single manager, comanagers or a team of managers, to actively manage a fund's portfolio. The main objective of the study is to analyse the performance of select actively managed large cap equity funds in the line of risk-return parameters. This study is based on fourteen funds from twelve Asset Management Companies. All the funds are ranked under seven performance measures, namely, fund return, fund standard deviation, Sharpe Ratio, Treynor Ratio, return from systematic investment plan (SIP), Jensen Alpha, and RSQ, for five different time periods of 1-year, 3-year, 5-year, 7-year, and 10-year.

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