Analysis of Factors Affecting the Performance of Fixed Income Mutual Funds in Indonesia (Study on RDPT Registered on OJK for the Period 2014-2018)

Mutual fund is four decades old in India. It was started by UTI during the year 1964 with few schemes for small investors. During this short span of time it has made tremendous growth in Indian small investors. But now a day’s its volume of investors and sources of investment also growing tremendous level. Moreover mutual fund scheme have added new dimension to overcome financial risk of small investors and also in fund raising capacity of corporate sectors. Mutual fund investors can diversify even more by purchasing different kind of stocks which will helps to spreading out investors’ money across different types of derivative instruments and hence it reduces the risk tremendously up to certain extent and it is automatically diversify in a predetermined category of investments. This serves bridge work between small investors and corporate sectors likewise considering those points in this paper is an attempt to know the investors’ perceptions towards selected mutual funds. This paper makes an attempt to identify various factors affecting perception of investors regarding investment in mutual funds. The findings will helpful to identify the investors’ interest base and factors clearly and it reveals that the investors consider mutual funds as flexible investment option and it creates interest of investment among small investors.

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Indonesian Mutual Funds Classification Using Clustering Method

Advanced Science Letters ◽

10.1166/asl.2015.5892 ◽

2015 ◽

Vol 21 (4) ◽

pp. 826-829

Author(s):

Ir. Dewi Tamara ◽

Shintia Revina

Keyword(s):

Mutual Funds ◽

Mutual Fund ◽

Money Market ◽

Fixed Income ◽

Clustering Method ◽

New Classification ◽

Asset Value ◽

Net Asset Value ◽

Alternative Investment

Mutual funds have existed since 1990 as an alternative investment in Indonesia. The objective of this research is to examine the existing classification of mutual funds database. The data of mutual funds is taken from Bloomberg through Portal Reksadana 2013 which covered 690 mutual funds. The existing classification consists of mutual funds fixed income (reksadana pendapatan tetap), equity (reksadana saham), money market (reksadana pasar uang) and structured (reksadana campuran). The existing financial attributes consists of the net asset value, percentage annualized return the last 6 months, 1 year, 3 years, 5 years and year-to-date. This paper uses K-means clustering to propose new classification of Indonesian mutual funds. The result reveals that mutual funds in equity and fixed income belong to its group. However, mutual funds money market is belong to mutual fund fixed income and mutual funds structures are identified to mutual funds equity. Furthermore, we find that in average 43% of Indonesian mutual funds are misclassified in accordance with their attributes. Finally, it is suggested to re-group the mutual funds into smaller classification, which has lower rates of misclassified mutual funds and possibility to achieve better performances in terms of its percentage annualized return.

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ANALISIS PENGARUH KURS, SERTIFIKAT BANK INDONESIA DAN INFLASI TERHADAP KINERJA REKSADANA PENDAPATAN TETAP TAHUN 2015-2019

Komitmen: Jurnal Ilmiah Manajemen ◽

10.15575/jim.v1i1.12480 ◽

2020 ◽

Vol 1 (1) ◽

pp. 64-73

Author(s):

Andini Nurwulandari

Keyword(s):

Mutual Funds ◽

Qualitative Method ◽

Descriptive Analysis ◽

Secondary Data ◽

General Rule ◽

Fixed Income ◽

Continuous Increase ◽

Negative Effect ◽

Data Source ◽

Data Documentation

Each type of investment has different risks. However, the general rule is that the higher the likelihood of an investment the greater the risk of the instrument. This study uses a qualitative method with a descriptive analysis approach. The data source is secondary data from the official BI website. OJK and BPS. This research covers all OJK mutual funds between 2015-2019. Sampling was done purposively. Data documentation is used for sampling. The results of the study found that the level of development has a negative effect on the results of fixed-income mutual funds, the lower the SBI, the worse the output of mutual funds that have fixed income will be; and inflation does not affect the FIM, because inflation represents a continuous increase in costs for products and services.

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Pengaruh Risiko Sistematis, Market Timing, dan Ukuran Dana Terhadap Kinerja Reksa Dana Pendapatan Tetap Syariah di Indonesia (Periode 2014-2018)

Jurnal Ekonomi Syariah Teori dan Terapan ◽

10.20473/vol6iss201912pp2409-2421 ◽

2020 ◽

Vol 6 (12) ◽

pp. 2409

Author(s):

Febrita Kusumastiti ◽

Muhammad Nafik Hadi Ryandono

Keyword(s):

Mutual Funds ◽

Significant Influence ◽

Mutual Fund ◽

Market Timing ◽

Systematic Risk ◽

Coefficient Of Determination ◽

Fixed Income ◽

Fund Size ◽

The Relationship ◽

Regression Tests

The purpose of this study is to determine the effect of the systematic of risk, market timing, and fund size toward sharia fixed income mutual funds in Indonesia period 2014-2018 partially and simultaneously. This research uses a quantitative approach and uses multiple linear regression tests to determine the relationship between exogenous variables and endogenous variable. The result of this research shows that systematic risk and fund size are partially have significant influence to the sharia fixed income mutual funds performance. Meanwhile, market timing is partially have insignificant influence to the sharia fixed income mutual funds performance. While simultaneously, systematic risk, market timing and fund size have significant influence to the sharia fixed income mutual funds performance with the coefficient of determination is 31,9% while the remaining 68,1% is influenced by other variables not included in this research.Keywords: Sharia Mutual Fund Performance, Systematic Risk, Market Timing, Fund Size

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Exposição a Risco e Captação em Fundos de Investimento: os Cotistas Monitoram a Alocação de Ativos?

Brazilian Review of Finance ◽

10.12660/rbfin.v11n4.2013.10295 ◽

2013 ◽

Vol 11 (4) ◽

pp. 527

Author(s):

Rafael Felipe Schiozer ◽

Diego Lins de Albuquerque Pennachi Tejerina

Keyword(s):

Risk Perception ◽

Mutual Funds ◽

Asset Allocation ◽

Significant Relationship ◽

Fixed Income ◽

Fund Managers ◽

Central Hypothesis ◽

Lehman Brothers ◽

The Impact ◽

Net Flows

This study investigates the impact of asset allocation on the net flow of fixed income funds in the Brazilian market, by exploiting the exogenous variation in the risk perception of bank liabilities (CDs) caused by the financial turmoil that followed Lehman Brothers’ demise in September 2008. The central hypothesis is that the exposure to assets negatively affected by the crisis impacts negatively the fund’s net flow. We find that, for mutual funds, the larger proportion of assets negatively affected by the crisis the larger the net outflow of resources, indicating that shareholders monitor asset allocation and exert disciplining power on fund managers by withdrawing their resources. In exclusive (fundos exclusivos, i.e., funds with a single shareholder), for which the shareholder is presumed to exert more influence on asset reallocation, we find no significant relationship between the exposure to assets negatively affected by the crisis and net flows.

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