Current Status of Mutual Fund Schemes in Nepal

The development of the mutual fund industry is the greatest investment success story of the twentieth century in United States and this industry also emerged as the most dynamic segment of the Indian financial system on that time. But the history of mutual fund in Nepal started only with the establishment of "NCM Mutual Fund 2050" in 1993. Currently there are ten mutual fund schemes listed and traded in Nepal Stock Exchange that provide investment opportunities for investors in mutual funds market. In this context, the purpose of this paper is to provide necessary facts and figures related to the mutual fund schemes in Nepal based on secondary data. The paper includes mutual fund companies, development mutual funds and review of empirical studies on mutual funds as preliminary discussion, and includes current mutual fund schemes; funds sizes, maturity periods, market price, net asset value and dividend income of mutual fund schemes on analytical section.The Journal of Nepalese Business Studies Vol. X No. 1 December 2017, Page: 85-95

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PENGUKURAN KINERJA REKSADANA SAHAM TERHADAP HARGA KOMODITAS MENGGUNAKAN BESARAN ALPHA JENSEN DAN CAPM

Media Ekonomi ◽

10.25105/me.v26i2.5212 ◽

2019 ◽

Vol 26 (2) ◽

pp. 103

Author(s):

Robinsyah Anggalis Prasetiyo

Keyword(s):

Crude Oil ◽

Mutual Funds ◽

Mutual Fund ◽

Time Series Data ◽

Stock Exchange ◽

Secondary Data ◽

Poor Performance ◽

Series Data ◽

Equity Funds ◽

Research Period

This study aims to analyze the stock mutual funds that have the best performance and provide an overview to investors about stock mutual funds can be bought by investors. The research methodology used is a quantitative method with the type of time series data and data sources derived from secondary data obtained from the Indonesia Stock Exchange. The research period from 2012 to 2016. Data analysis techniques used are using the Jensen model which explains that the performance of Mutual Funds can be seen from the amount of alpha of each Mutual Fund with the provisions that if a Mutual Fund has a positive alpha means it has good performance, vice versa Funds with negative alpha indicate poor performance. The results of this study indicate that the performance of Coal, Gold, Nickel and Crude Oil on Equity Funds that manage Capital, Kapital Plus, and Consumption Plus mutual funds products based on the Jensen method each produces insignificant alpha and Jensen alpha values. This means that the performance of mutual funds Kapital, Kapital Plus, and Consumption Plus are not affected by the ups and downs of prices of Coal, Gold, Nickel and Crude Oil.

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Growth and Value Effect on Jakarta Islamic Index: Analysis towards Performance of Sharia Equity Mutual Fund

Al-Iqtishad Journal of Islamic Economics ◽

10.15408/aiq.v11i1.9670 ◽

2019 ◽

Vol 11 (1) ◽

Author(s):

Sylva Alif Rusmita ◽

Marhanum Che Mohd Salleh

Keyword(s):

Mutual Funds ◽

Mutual Fund ◽

Secondary Data ◽

Additional Insight ◽

Risk And Return ◽

Fund Managers ◽

Index Analysis ◽

Asset Value ◽

Net Asset Value ◽

Value Effect

This study provides evidence that value and stocks’ growth able to explain Net Asset Value of Shariah Mutual Fund. It is important for investment managers and investors to estimate future profit or loss that may happen on their mutual funds prior they venture into the investment platform. This study therefore is conducted to prove that factors including value and growth may affect the future profit of Shariah Mutual Funds. Based on quantitative analysis with secondary data from companies indexed in the Jakarta Islamic Index and Sharia Mutual Fund from year 2013 to 2017, it is found that both growth and value of stock have equally affected the profit of Sharia Mutual Funds. In addition, growth of stock has a larger R-Square than its value which means that the investors or fund managers would need to observe the stock growth more often than its value in order to predict future profitability of Shariah funds. It is expected that the results of this study can provide additional insight to investment managers when choosing a portfolio for investors. For investors, this information is useful to predict the risk and return that they will receive from the investment.

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Conventional Versus Sharia Money Market Mutual Funds: Which Performs Better During the Covid-19 Pandemic?

The Journal of Management Theory and Practice (JMTP) ◽

10.37231/jmtp.2020.2.3.174 ◽

2021 ◽

Vol 2 (3) ◽

pp. 35-40

Author(s):

Dina Yeni Martia ◽

Muhammad Rois ◽

Muliasari ◽

Latifah Risqiana ◽

Noverdi Radja Dwilega

Keyword(s):

Mutual Funds ◽

Mutual Fund ◽

Secondary Data ◽

Money Market ◽

Sharpe Ratio ◽

Comparison Approach ◽

Significant Difference ◽

Asset Value ◽

Money Market Mutual Funds ◽

Better Than

This study aims to determine whether conventional money market mutual funds perform better than sharia money market mutual funds or vice versa during the COVID-19 pandemic in Indonesia. This research method is descriptive with a quantitative comparison approach. This study employed secondary data obtained from IDX, Indonesian Bank, and Pasar Dana website. The research employed the money market mutual funds data, Net Asset Value, BI 7 Days Repo rate during year 2020. Sharpe ratio utilized in this research to determine the money market mutual funds performance. Then, the result compared by using Independent sample T-test on SPSS. The result uncovers that in general the performance of conventional money market mutual funds performance superior the sharia money market mutual funds performance during covid-19 in Indonesia. However, both mutual funds average Sharpe ratio show the negative number during 2020. Moreover, there are no significant difference between conventional and sharia money market mutual funds returns during the period 2020. The high different return on the maximum return due to some conventional mutual fund perform exceptional during 2020.

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Pengaruh Nilai Tukar dan Inflasi pada Reksadana Syariah di Indonesia

BISNIS : Jurnal Bisnis dan Manajemen Islam ◽

10.21043/bisnis.v9i1.9791 ◽

2021 ◽

Vol 9 (1) ◽

pp. 165

Author(s):

Yuliana Eva Hartati ◽

Early Ridho Kismawadi ◽

Abdul Hamid ◽

Ainun Mardhiah

Keyword(s):

Exchange Rate ◽

Mutual Funds ◽

Capital Market ◽

Mutual Fund ◽

Financial Services ◽

Stock Exchange ◽

Secondary Data ◽

Regression Methods ◽

Fund Development ◽

Spss Software

The increasing development of Islamic mutual funds and making a more varied and more promising sharia capital market instrument for investors who want to invest their capital in the Islamic capital market, are able to make Indonesia the largest country in establishing a sharia capital market. However, the development of Islamic mutual funds is not easy to make the largest sharia-based investment container in Indonesia because there are still many factors that can affect the rise and fall of NAVs in Islamic mutual funds that Investment Managers still find difficult to overcome. The purpose of this study is to analyze the factors that influence the development of Islamic mutual funds in Indonesia. In this study the data used is secondary data. Data obtained from various sources, namely part of the Indonesia Stock Exchange (BEI) Annual Report and also a portion of the Sharia Mutual Fund Development Statistics in the Financial Services Authority (OJK) and Bank Indonesia (BI) taken in the third quarter of 2015-Quarterly III 2018. Data were analyzed using multiple linear regression methods and using SPSS software. The results obtained showed that partially Islamic NAV mutual funds were only influenced by inflation and the number of RDS, while the Jakarta Islamic Indeks and the exchange rate did not affect the NAV of Islamic mutual funds. Simultaneously shows that Jakarta Islamic Indeks, exchange rate, inflation and the amount of RDS have a simultaneous influence on the dependent variable (Islamic mutual fund NAV.

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A Quantitative Approach to Evaluate the Financial Performance of Growth Oriented Bangladeshi Close-end Mutual Funds: An Empirical Study

Global Journal of Management and Business Research ◽

10.34257/gjmbrcvol20is2pg55 ◽

2020 ◽

pp. 55-65

Author(s):

Washeka Anjom

Keyword(s):

Financial Performance ◽

Mutual Funds ◽

Capital Market ◽

Mutual Fund ◽

Stock Exchange ◽

Research Work ◽

Vital Role ◽

Asset Value ◽

Net Asset Value ◽

Retail Investors

Mutual fund, an investment vehicle by retail investors,is playing a vital role in our capital market by transforming the sum of the invested funds of investors into investing in a diversified portfolio by the professional investment managers.Since 1980, the mutual funds have been emerging rapidly in the stock market of Bangladesh. This research work attempts to evaluate the financial performance of growth-oriented Bangladeshi Close-end mutual funds traded in Chittagong Stock Exchange (CSE). In order to fulfill the objectives of the paper, ten mutual funds out of thirty-six have chosen. The Prime data used is the Net Asset Value (NAV) of the selected mutual funds and the returns of the CS 30 as a benchmark index. This paper concentrates on the evaluation of mutual funds by employing various research methodologies such as Treynor’s ratio, Sharpe ratio,and Jensen’s alpha and Regression Analysis. Finally, an attempt has also undertaken to assess the statistical relationship between the performance CS 30 and the mutual funds.

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

Academia Open ◽

10.21070/acopen.4.2021.1987 ◽

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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REKSADANA SYARIAH dan KONVENSIONAL DI INDONESIA

KEUNIS ◽

10.32497/keunis.v9i2.2629 ◽

2021 ◽

Vol 9 (2) ◽

pp. 120

Author(s):

Nurseto Adhi ◽

Dewi Pratiwi Aji ◽

Winarni Winarni

Keyword(s):

Mutual Funds ◽

Mutual Fund ◽

Stock Exchange ◽

Hypothesis Test ◽

Secondary Data ◽

Sampling Technique ◽

Test Analysis ◽

Significant Difference ◽

The Difference ◽

Differential Test

This study aims to test the difference between the conventional mutual fund and the sharia mutual fund on performances and risk. The development of mutual fund products is based on 2 (two) categories, conventional mutual funds, and sharia mutual funds (www.ojk.go.id). Based on data from the Data Center and Statistics of Islamic Mutual Funds, the performance of Islamic mutual funds is still underperformed compared to conventional mutual funds. Therefore, testing the performance of Islamic mutual funds by testing the performance of conventional mutual funds has not been widely tested. Secondary data was used in this study with all 1425 mutual funds from 2012-2017 on the Indonesia Stock Exchange was used as the population in this study is. The purposive sampling technique determines the sample in this study. The sample used in this study was Conventional and Shariah mutual fund in Indonesia Stock Exchange (IDX) with six products each. This hypothesis test used Differential Test tools with data analysis techniques using Paired sample t-test analysis using SPSS 25. In this study, we found that there was a significant difference between the return on conventional mutual funds and Syariah mutual funds. While the risk, Sharpe method, Treynor method, and Jensen method have not significant difference between conventional mutual funds and Syariah mutual funds.

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Testing Strong Form Market Efficiency of Jordanian Capital Market: Performance Appraisal of Mutual Funds a comparable study case with Saudi Arabia

Theory Methodology Practice ◽

10.18096/tmp.2020.02.01 ◽

2020 ◽

Vol 16 (2) ◽

pp. 3-15

Author(s):

Mazen Bustanji

Keyword(s):

Saudi Arabia ◽

Performance Appraisal ◽

Mutual Funds ◽

Capital Market ◽

Stock Exchange ◽

Market Price ◽

Strong Form ◽

Monthly Data ◽

Amman Stock Exchange ◽

Modelling Techniques

This paper analyses the strong-form efficiency of the capital market in Jordan by evaluating the performance of mutual funds over the period from 2011 to 2016, and compare it with the situation in Saudi Arabia using the Jensen modelling techniques. These tests were applied on monthly data. Results from the study show that there is no evidence of the strong-form of efficiency in either the Amman Stock Exchange or in the Saudi Arabia capital market. Therefore, investors in the Amman Stock Exchange and Saudi Arabia capital market cannot predict stocks prices or returns in the short term; with regard to firms, it suggests that the securities of firms cannot outperform the market and present market price is to a certain extent a true reflection of the present situation of their securities, in addition there is lack number availability of the mutual funds in Jordan.

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

Volume 5 - 2020, Issue 9 - September - International Journal of Innovative Science and Research Technology ◽

10.38124/ijisrt20jun542 ◽

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.

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ANALISIS PERBANDINGAN KINERJA REKSADANA SAHAM MENGGUNAKAN METODE SHARPE DAN TREYNOR PADA REKSADANA SAHAM

Equity ◽

10.34209/.v21i1.631 ◽

2019 ◽

Vol 21 (1) ◽

pp. 49

Author(s):

Clara Bella ◽

Yul Tito Permadhy

Keyword(s):

Mutual Funds ◽

Mutual Fund ◽

Sampling Method ◽

Stock Exchange ◽

Market Performance ◽

Fund Performance ◽

Mutual Fund Performance ◽

Equity Fund ◽

Consistent Performance ◽

Descriptive Method

This study aims to determine the comparison of stock mutual fund performance using sharpe method and treynor method. The research method used in this research is descriptive method with quantitative approach. The object of this study using all mutual fund shares listed on the Indonesia Stock Exchange period 2013-2016. The technique of determining the sample using purposive sampling method so that 66 mutual funds were chosen as research sample. The results of this study explain that there are differences in the results of the performance of stock mutual funds using sharpe method and treynor method on mutual fund shares listed on the Indonesia Stock Exchange (BEI) where each performance value fluctuates in the period 20132016. The results show that only a few stock mutual funds are above market performance by using sharpe method and treynor method during the period 2013-2016. The results show that only one stock mutual fund that has consistent performance above market performance during the period 2013-2016 using the sharpe method of equity fund Sam Equity Fund.

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