scholarly journals INVESTASI REKSADANA SYARIAH DI INDONESIA

2020 ◽  
Vol 2 (1) ◽  
pp. 44-65
Author(s):  
Fitria Andriani
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Risks And Benefits ◽  
Fund Investment ◽  
Islamic Investment ◽  
Statistical Development

The development of Islamic investment in Indonesia is progressing very rapidly. The principle of every investment made by each individual must be based on sharia principles. This study aims to explain the principles of sharia mutual funds investing which are currently growing rapidly as well as the development and procedures for investing in Islamic mutual funds. The results of this study indicate that the statistical development of Islamic mutual funds tends to increase significantly, the NAV of Islamic mutual funds in August 2020 reached 67.71 trillion. Players in sharia mutual fund investments include investors and investment managers who are trusted by investors in managing their mutual funds. The procedure for investing in Islamic mutual funds includes two ways, namely the method of buying or referred to as subcription and redemption or the method of selling Islamic mutual funds, a good understanding of these two methods will determine the risks and benefits that investors and investment managers get. Keyword: Mutual Fund Investment, Investment Procedures.   Abstrak Perkembangan investasi syariah di Indonesia melaju dengan sangat pesat, Prinsip dari setiap investasi yang dilakukan oleh setiap individu harus berlandaskan dengan prinsip syariah. Penelitian ini bertujuan untuk menjelaskan prinsip dari investasi reksadana syariah yang saat ini sedang berkembang pesat serta perkembangannya dan tata cara melakukan investasi pada reksadana syariah. hasil penelitian ini menunjukkan perkembangan statistik reksadana syariah cenderung naik signifikan, NAB reksadana syariah agustus 2020 mencapai 67,71 Triliun. Pelaku dalam investasi reksadana syariah meliputi investor dan manajer inverstasi yang dipercayai oleh investor dalam mengelola reksadana miliknya. Tata cara investasi pada reksadana syariah meliputi dengan dua cara yaitu cara pembelian atau disebut dengan subcription dan redemtion atau cara penjualan pada reksadana syariah, pemahaman yang baik akan kedua cara ini akan menentuan resiko dan keuntungan yang di dapatkan oleh investor dan manajer investasi. Kata kunci: Investasi Reksadana, Tata Cara Invetasi Reksadana.

scholarly journals The Performance of Sharia Equity Fund Investment Manager

2020 ◽  
Vol 1 (1) ◽  
pp. 81
Author(s):  
Anni Maftukhah
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Linear Regression Analysis ◽  
Fund Raising ◽  
Ratio Method ◽  
Equity Fund ◽  
Turnover Ratio ◽  
Investment Manager ◽  
Fund Investment ◽  
Fund Size

Sharia mutual funds are fund raising activities from investors to be managed by investment managers with sharia-based management, namely by not investing funds in companies whose types and scope of business are not in accordance with Islamic sharia. This study was conducted to determine the effect of turnover ratio, expenses ratio, fund size, managerial tenure, and fund selection skills on the performance of sharia mutual fund investment managers in Indonesia. The data used in this study are monthly Net Asset Value, BI rate, IHSG, annual turnover data, annual expenses ratio data, and prospectus of 9 sharia stock mutual funds from December 2014 to December 2018. Samples were taken based on the purposive sampling method during this research. The measurement of the performance of sharia equity fund investment managers uses the Sharpe Ratio method. The method used is multiple linear regression analysis and classic assumption tests using descriptive statistical tests, multicollinearity tests, and heteroscedasticity tests using EVIEWS 10 statistical software. The results of this study indicate that turnover ratio, fund size, fund selection skills significantly influence performance Islamic mutual fund investment manager. While expenses and managerial tenure ratios do not significantly influence the performance of investment managers in Islamic mutual funds.

scholarly journals MEASURING ATTITUDE TOWARDS MUTUAL FUND INVESTMENT DECISIONS: EVIDENCE FROM TRIPURA, INDIA

2021 ◽  
pp. 1-12
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Investment Decisions ◽  
Primary Data ◽  
Fund Managers ◽  
Study Methodology ◽  
Bank Employees ◽  
Fund Investment ◽  
Improve Attitude ◽  
The Impact

The purpose of this paper is to assess the attitude of bank employees in Tripura towards investment in the mutual fund and investigate the impact of attitude on volume of investment. The study methodology is based on the responses of a questionnaire received from 262 employees of banks in Tripura. On the basis of primary data, the attitude of the employees has been assessed and ordinal logistic regression is used to find out the impact of attitude on their volume of investment in mutual fund. It is found that overall attitude of bank employees in Tripura towards investment in mutual fund is favorable. It can also be concluded that attitude and volume of investment in mutual fund is positively related. The study is useful for the fund managers of mutual funds. Once the attitude to employees towards investment in mutual fund is ascertained, then suitable strategy regarding imparting training can be designed to improve attitude towards investment in mutual fund. The study is original in nature.

scholarly journals A STUDY ON INVESTORS PERCEPTION TOWARDS LARGE-CAP EQUITY ORIENTED MUTUAL FUNDS IN INDIA

2021 ◽  
Vol 9 (11) ◽  
pp. 116-125
Author(s):  
Prakash Yalavatti ◽  
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Secondary Data ◽  
Equity Fund ◽  
Aged People ◽  
Retail Investors ◽  
High Return ◽  
Equity Funds ◽  
Fund Investment ◽  
To Receive

The large-cap equity fund is one of the mutual fund schemes and fund mobilized under this scheme is invested in equity securities of large-capitalized companies. This scheme is highly preferred scheme for investment by those who want to receive reasonably high return with less risk. The present study analyzes the profile, perception and satisfaction level of retail investors in large-cap equity funds. This study is based on both primary and secondary data. The study concludes that the majority of the investors are mid-aged people and men investors are more than women. Most of the investors have graduation and belong to the small saving group. The investors have moderately satisfied with large-cap fund investment on an average basis.

scholarly journals Portfolio Preferences Across Markets: Evidence from Mutual Fund Ownership

2012 ◽  
Author(s):  
Wen-Hsiu Chou
Keyword(s):  
Economic Development ◽  
Emerging Markets ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Investment Decisions ◽  
Firm Characteristics ◽  
Fund Managers ◽  
Portfolio Holdings ◽  
Fund Investment

This paper is about evaluating and comparing the portfolio preferences of domestic and foreign mutual funds in developed and emerging markets over the period 1998-2007. We find that foreign and domestic mutual funds have some different preferences toward firm characteristics and firm’s information enviroments, and economic development affects the preferences for both types of funds. A country’s characteristics and institutions also influence mutual fund investment decisions when fund managers from their portfolio holdings. Results further show that foreign and domestic mutual funds play a monitoring role in their portfolio firms, but foreign mutual funds cannot monitor firms effectively in emerging markets.  

scholarly journals Mutual Funds: An Outrageous Progression in Investment

2021 ◽  
Vol 12 (2) ◽  
pp. 1110-1112
Author(s):  
V.B. Karuna Moorthy, Et. al.
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Large Scale ◽  
Individual Investors ◽  
The Public ◽  
Money Flow ◽  
Key Factor ◽  
Current Scenario ◽  
Small Investors ◽  
Fund Investment

Mutual funds are the key factor for the financial arbitrator. Corporations, governments, and individual investors are benefitted out of mutual funds on a large scale. Mutual funds seem to be an attractive scheme of investment among society. The new money flow in terms of investment yields enhanced results in mutual fund investment. Mutual funds attract small investors to benefit greatly due to diversified capabilities. Shareholders are benefited through mutual funds in numerous ways. This paper tries to analyse the importance of mutual funds and their need in this current scenario. Further, this paper also tries to investigate the ways in improving the growth of mutual fund investment plans among the public.

scholarly journals The Optimization of Sharia Mutual Fund as an Investment Means to Promote Financial Inclusion in Indonesia

2019 ◽  
Vol 6 (2) ◽  
pp. 126
Author(s):  
Teguh Tresna Puja Asmara ◽  
Lastuti Abubakar
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Legal Protection ◽  
Secondary Data ◽  
Data Bank ◽  
Financial Inclusion ◽  
Advanced Technology ◽  
Investment Optimization ◽  
Small Investors ◽  
Fund Investment

Abstract : Sharia mutual fund can be used as an investment alternative for investors, especially for small investors or retailers. The excess of sharia mutual funds that can be reached by all groups shall be a means to promote financial inclusion in Indonesia. Based on data released by the Bank of Indonesia (BI), in 2018, financial inclusion or access to financial institutions of the Indonesian citizens is only 49% (forty-nine percent). Therefore, we need a concrete strategy to promote financial inclusion in Indonesia in which one of the strategies that can be applied is by optimizing sharia mutual funds as an investment means. This study aims to find out the regulation and legal protection of investors in implementing sharia mutual fund investments in the marketplace. The method used was a normative juridical emphasizing on legal research literatures or secondary data. The results showed that sharia mutual funds can be one of the means in promoting financial inclusion program as it can be reached by all groups, especially small investors or retailers. The optimization of sharia mutual funds can be done by utilizing advanced technology in which one of them is the implementation of sharia mutual fund investments through the marketplace. Sharia mutual fund investment in the marketplace has the potential to develop as it can be done easily, quickly, and cheaply. However, the implementation of sharia mutual fund investments in the marketplace still requires strengthening regulations to provide legal certainty and legal protection for its users.Keywords: Investment, Optimization, Sharia Mutual Funds.�Optimalisasi Reksadana Syariah sebagai Sarana Investasi dalam Rangka Memajukan Keuangan Inklusif di IndonesiaAbstrak : Reksadana syariah dapat dijadikan salah satu alternatif investasi bagi investor, khususnya investor kecil atau ritel. Kelebihan reksadana syariah yang dapat dijangkau oleh semua kalangan dapat menjadi sarana dalam rangka memajukan keuangan inklusif di Indonesia. Berdasarkan data Bank Indonesia (BI) pada tahun 2018 inklusi keuangan atau akses terhadap lembaga keuangan masyarakat Indonesia hanya sebesar 49% (empat puluh sembilan persen). Oleh karenanya diperlukan strategi dan langkah-langkah konkrit guna memajukan inklusif keuangan di Indonesia yang salah satunya dapat melalui pengoptimalan reksadana syariah sebagai sarana investasi. Tujuan penelitian ini adalah untuk mengetahui bagaimana pengaturan dan perlindungan hukum investor dalam pelaksanaan investasi reksadana syariah di marketplace. Metode penelitian yang digunakan adalah yuridis normatif dengan menitik beratkan kepada penelitian hukum kepustakaan atau data sekunder. Hasil penelitian menunjukan bahwa reksadana syariah dapat menjadi salah satu sarana dalam mendukung program keuangan inklusif dikarenakan dapat dijangkau oleh semua kalangan terutama investor kecil atau ritel. Optimalisasi reksadana syariah dapat dilakukan dengan cara memanfaatkan penggunaan teknologi secara muktahir, salah satunya yaitu pelaksanaan investasi reksadana syariah melalui marketplace. Investasi reksadana syariah di marketplace sangat berpotensi berkembang dikarenakan investasi reksadananya dapat dilakukan dengan mudah, cepat, dan murah. Namun pelaksanaan investasi reksadana syariah di marketplace tersebut masih memerlukan penguatan regulasi guna memberikan kepastian dan perlindungan hukum yang kuat bagi para penggunanya.Kata kunci: Investasi, Optimalisasi, Reksadana Syariah

A study on performance evaluation of equity mutual funds schemes in India

2020 ◽  
Vol 07 (02) ◽  
pp. 2050017
Author(s):  
Ruchi Arora ◽  
T. V. Raman
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Secondary Data ◽  
Information Ratio ◽  
Portfolio Evaluation ◽  
The Past ◽  
Equity Mutual Funds ◽  
Secondary Data Sources ◽  
Fund Investment ◽  
Fund Size

Mutual Funds give a platform for everyone to participate within the Indian capital market with skilled fund management no matter the number endowed. In the past few years, among the various financial products in India, Mutual Funds have emerged as the favorite. There is no doubt that acceptance of mutual funds as an investment vehicle has certainly increased among investors as many investors are earning from mutual fund — as result of increase in information and awareness among investors. Smaller amount of risk is associated with mutual fund investment than directly investing in stocks. Fund manager needs to provide returns in order to construct a diversified portfolio. They take into account numerous factors like, fund size, scheme type, returns, risk, etc. The paper attempts to analyze portfolio evaluation of selected equity diversified schemes using volatility measures such as quantitative factors like Standard Deviation, Beta and the ratios such as Sharpe, Treynor, Jensen’s Alpha, Information ratio, Fama’s Measure, Expense ratio measures. Data for research are collected from the secondary data sources and selected from 30 Mutual Fund schemes 10 AMCs.

Business cycle and investment flows of retail and institutional mutual funds

2017 ◽  
Vol 13 (5) ◽  
pp. 498-520 ◽  
Author(s):  
Galla Salganik-Shoshan
Keyword(s):  
Risk Factors ◽  
Business Cycle ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Institutional Investors ◽  
Flow Patterns ◽  
Content Type ◽  
The Business Cycle ◽  
Systematic Risk Factors ◽  
Fund Investment

Purpose The purpose of this paper is to investigate the dynamics of mutual fund investment flows across the business cycle. To account for the differences in the flow patterns of funds catered for institutional investors and those focusing on retail investors, the author conducts this investigation separately for flows of institutional and retail funds. Design/methodology/approach The author uses the sample of US equity mutual funds for the period between 1999 and 2012. For the samples of each type of fund, the author performs separate analyses for expansion and recession periods. Following Sirri and Tufano (1998), the author implements the Fama MacBeth (1973) approach. Findings The author finds that flow patterns of both fund types vary across the business cycle. For example, the results reveal that during bad times, institutional investors demonstrate weaker return-chasing behavior, while paying higher attention to Jensen’s α, than during good times. In addition, the author reports results on the effect of fund exposure to various systematic risk factors. For instance, the author observes that during economic downturns, investors of both fund types tend to punish managers with higher market exposure. During expansions, the fund’s market exposure positively affects flows of institutional funds, while its effect on the flows of retail funds remains negative. Originality/value To the best of the author’s knowledge, this is the first study that investigates mutual fund investment flow patterns across the business cycle, while simultaneously accounting for differences in flow patterns between retail and institutional funds. A further contribution of this paper is that it explores the previously overlooked relationships between fund flows and their exposure to various systematic risk factors.

scholarly journals The Islamic Economic Law Perspective on Sharia Mutual Fund Investment

2020 ◽  
Vol 20 (2) ◽  
pp. 181-194
Author(s):  
Risfiana Mayangsari
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Islamic Law ◽  
Stock Exchange ◽  
Investment Activity ◽  
Investment Policies ◽  
Economic Law ◽  
Positive Law ◽  
Islamic Economic ◽  
Fund Investment

Abstract: The tendency of Indonesian people to invest, which has recently been increasing, has made these people more selective in determining their investment choices and goals. One of the choices of Indonesian people in investing is sharia mutual funds. Because fundamentally sharia mutual fund investment does not violate the boundaries of sharia and remains in the corridor of Islam, thus investment activity is a form of muamalah (civil) activity in Islam. So, this article aims to explain Islamic mutual fund investment in the perspective of Islamic economic law. This article is based on library research; the data in this study is documentary data in the form of books, articles and notes related to the theme of Islamic mutual funds investment in the perspective of Islamic economic law. So, the conclusion is that Islamic mutual funds in the management and investment policies refer to Islamic law. Regulations for sharia mutual funds in Indonesia are contained in positive law, both conventional and those based on sharia principles are the same, namely regulated in Law No. 8 of 1995 concerning the Capital Market and technical regulations in the form of Government Regulations, Decree of the Minister of Finance, and regulations issued by Bapepam and regulations issued by the Stock Exchange as Self Organitation Regulatory, Fatwa of the National Sharia Council No.20 / DSN-MUI / IV / 2001 regarding Islamic mutual funds. Keywords: Investment, mutual funds, sharia law.   Abstrak: Kecendrungan masyarakat Indonesia dalam berinvestasi yang akhir-akhir ini semakin meningkat, menjadikan masyarakat tersebut lebih selektif dalam menentukan pilihan dan tujuan berinvestasi. Salah satu pilihan masyarakat Indonesia dalam berinvestasi adalah reksadana syariah. Karena, secara fundamental investasi reksadana syariah tidak melanggar batasan syariah dan tetap pada koridor Islam, sehingga dengan demikian kegiatan investasi tersebut merupakan bentuk kegiatan muamalah (keperdataan) dalam Islam. Maka artikel ini bertujuan untuk menjelaskan investasi reksadana syariah daam perspektif hukum ekonomi syariah. Artikel ini berbasis penelitian pustaka, data dalam penelitian ini adalah data dokumentasi berupaka buku-buku, artikel, dan catatan-catatan yang berhubungan dengan tema investasi reksadana syariah dalam perspektif hukum ekonomi syariah.  Maka, kesimpulnnya adalah reksadana syariah dalam pengelolaan dan kebijakan investasinya mengacu pada syariat Islam. Pengaturan reksadana syariah di Indonesia tertuang dalam hukum positif, baik yang konvensional maupun yang berdasarkan Prinsip syariah adalah sama yaitu diatur dalam Undang-Undang No. 8 Tahun 1995 tentang Pasar Modal dan peraturan teknis berupa Peraturan Pemerintah, Keputusan Menteri Keuangan, dan peraturan-peraturan yang dikeluarkan oleh Bapepam dan peraturan-peraturan yang dikeluarkan oleh Bursa Efek selaku Self Organitation Regulatory, Fatwa Dewan Syariah Nasional No.20/DSN-MUI/IV/2001 tentang reksadana syariah. Kata-kata kunci: Investasi,  reksadana, hukum syariah.

scholarly journals Perlindungan Hukum Bagi Investor Pemegang Unit Penyertaan Reksa Dana yang Memperjanjikan Fix Return

2021 ◽  
Vol 4 (4) ◽  
pp. 1285
Author(s):  
Agung Jaya Kusuma ◽  
Mas Rahmah
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Financial Services ◽  
Fixed Income ◽  
Criminal Sanction ◽  
Legal Research ◽  
Conceptual Approach ◽  
Fund Managers ◽  
Product Sales ◽  
Fund Investment

AbstractWith the increasing number of people who develop mutual fund investment products, competition between Investment Managers as mutual fund managers is increasing. As a result, several investment managers commit fraud in the marketing of mutual fund product sales, one of which is offering Fix-Return Mutual Fund products. To analysis the problem, this research will review the validity of the mutual fund marketing which is offering a Fix Return income according to the Indonesian regulations, and the Liability of Investment Managers who sale the fixed-income mutual funds by promising a Fix Return. The type of this research is normative legal research with the statutory and conceptual approach. The results show that although the marketing of mutual fund products with Fix Return is formally regulated in the provisions of article 37 letter (d), Financial Services Authority Regulation Number:39/POJK.04/2014. However, investment managers who sale fix return mutual fund products may be punished by civil, administrative and criminal sanction because of their faud and misconduct. Keywords: Protection; Mutual Fund Participation Units; Fix Return.AbstrakDengan semakin maraknya masyarakat yang berinvestasi pada produk investasi reksa dana, membuat persaingan antar Manajer Investasi sebagai pihak pengelola reksa dana semakin meningkat. Akibatnya terdapat beberapa manajer investasi yang melakukan kecurangan dalam pemasaran penjualan produk reksa dananya, salah satunya yaitu dengan menjanjikan suatu imbal hasil pasti pada produk reksa dananya, atau juga dikenal dengan istilah Fix Return. Untuk menganalisis masalah tersebut, penelitian ini akan mengkaji validitas pemasaran reksa dana yang menawarkan pendapatan Fix Return menurut peraturan perundang-undangan di Indonesia dan Tanggung gugat Manajer Investasi yang memasarkan reksa dana jenis reksa dana pendapatan tetap dengan memperjanjikan Fix Return. Tipe penelitian yang digunakan dalam penelitian ini adalah penelitian hukum normatif dengan pendekatan perundang-undangan dan pendekatan konseptual. Hasil dari penelitian ini menunjukkan bahwa meskipun pemasaran produk reksa dana dengan Fix Return diatur dalam ketentuan pasal 37 huruf (d), Peraturan Otoritas Jasa Keuangan Nomor:39/POJK.04/2014, namun apabila Manajer Investasi memasarkan produk reksa dana dengan Fix Return, Manajer investasi dapat dikenakan sanksi perdata, administratif dan pidana apabila terbukti memasarkan produknya dengan Fix Return. Kata Kunci: Perlindungan Hukum; Unit Penyertaan Reksa Dana; Fix Return.

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