scholarly journals PERLINDUNGAN HUKUM TERHADAP INVESTOR DALAM INVESTASI MELALUI REKSADANA SYARIAH DI IDONESIA

2020 ◽  
Vol 16 (2) ◽  
pp. 37-49
Author(s):  
Arif Effendi
Keyword(s):  
Mutual Funds ◽  
Financial Institutions ◽  
Mutual Fund ◽  
Islamic Law ◽  
Legal Protection ◽  
Profit Sharing ◽  
Operational Mechanism ◽  
Positive Law ◽  
Investment Manager

Arif Effendi, Legal Protection to Investors in Investment trough Sharia Reksadana (mutual funds) in Indonesia. This paper talk about legal protection to investors in Sharia Reksadana under sharia principles or Islamic law and Positive law in Indonesia. Reksadana is an instrument used to raise funds from the investor community to be reinvested in securities portfolio by the Investment Manager. Sharia Reksadana is a mutual fund that operates under the terms and principles of Islamic Sharia, either in the form of a contract between the owner of the property (sahib al-mal) and the Investment Manager as the representative of shahib al-mal, or between the Investment Manager as a representative of shahib al-mal with investment users. The operational mechanism in Sharia Reksadana between Investor and Investment Manager is done by wakala system. Meanwhile the operational mechanism between Investment Manager and Investment user (mudharib) is done by mudaraba system. Non-bank financial institutions such as Sharia Reksadana based on their operations using sharia principles. In that principle, prohibited all elements that are not in accordance with sharia. That are Riba (usury), Gharar (uncertainty), Maysir (gambling/speculation), etc. Wakala system, mudaraba system, and positive law agreement are needed to protect the investors. Profit sharing is the most appropriate system as a substitute for interest, to avoid riba (usuary). Sharia Reksadana is one of financial institutions that implements a system of profit sharing in the agreement in what we call mudaraba system. By implementing profit sharing sistem it is hoped to be free from riba (usury).

scholarly journals Perlindungan Hukum Bagi Investor Terkait Pembubaran Badan Hukum Reksa Dana

2021 ◽  
Vol 2 (3) ◽  
pp. 555-561
Author(s):  
I Gede Satyawan Pradnya Wiguna ◽  
I Nyoman Budiartha ◽  
Desak Gde Dwi Arini
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Legal Protection ◽  
Legal Entity ◽  
Secondary Sources ◽  
Investment Manager ◽  
Product Protection ◽  
Article 50 ◽  
The Right ◽  
Legal Consequences

Mutual funds are investment instruments regulated in regulation number 23/POJK/04/2016 concerning mutual funds, as a guide for investment managers, protecting the rights of investors, investors are not careful in choosing mutual fund products and determining the right and safe investment manager so that legal protection is needed for Mutual Fund Investors. The purposes of this study are to analyze the legal consequences for investors related to the dissolution of a mutual fund legal entity and legal protection for mutual fund investors related to the dissolution of a mutual fund legal entity. The method used is normative legal research with a statutory approach. The technique of collecting legal materials is done through recording and documentation studies. Primary and secondary sources of legal materials are used as sources of legal materials in this study. Then, the legal materials and data are managed using interpretation analysis. The results of the study show that the legal consequences for investors related to the dissolution of the mutual fund managing legal entity are regulated in article 50 of the OJK Regulation if the mutual fund product is dissolved the investor cannot resell after the dissolution of the mutual fund product, protection for mutual fund investors is related to the dissolution of the mutual fund managing legal entity, if there is a loss to the mutual fund product caused by the investment manager, the investment manager must be responsible for the loss due to his actions

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 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 Innovations & Technology Based Initiatives in Mutual Fund Distribution Intermediation in India

2019 ◽  
Vol 9 (2) ◽  
pp. 4747-4753
Keyword(s):  
Mutual Funds ◽  
Financial Institutions ◽  
Mutual Fund ◽  
Financial Services ◽  
Recent Past ◽  
Indian Government ◽  
Point Of Sale ◽  
The World ◽  
Areas Of Concern ◽  
The Ideal

The world of financial services is changing in ways that are more dramatic than we would have foreseen even five years ago. Taking a leaf from evolving ecosystem around mobile telephony, many financial institutions are using smart technology to remodel their branches into smarter point of sale. This has given a genesis to a terminology of “emerging distribution intermediaries” in financial services. Mutual funds (MF) being the combiner of various savings instruments are regarded as the ideal investment vehicle for today’s complex and modern financial scenario. But its penetration is poor. One of the major levers to increase penetration is innovations in distributing MF products. Considering this, Indian government & regulator have taken many policies reforms & IT initiatives towards increasing retail participation in Mutual Funds and equity markets in recent past. Through this paper, researcher has attempted to critically analyze these initiatives. Apart from highlighting various innovations in MF distributions, this paper will also highlight the present state of online Mutual Fund trading platforms. Further, the paper attempts to highlight the areas of concern, augmentation and intervention in this space.

scholarly journals PENGAMBILALIHAN HAK ATAS JAMINAN (EKSEKUSI) JAMINAN FIDUSIA DAN RAHN TASJILY PERSEPEKTIF HUKUM POSITIF DAN HUKUM ISLAM

2019 ◽  
Vol 10 (2) ◽  
pp. 186
Author(s):  
Heri Kuswanto
Keyword(s):  
Financial Institutions ◽  
Islamic Law ◽  
Descriptive Analysis ◽  
Critical Legal Studies ◽  
Legal Studies ◽  
Positive Law ◽  
Qualitative Descriptive ◽  
The Right ◽  
And Storage ◽  
Laws And Regulations

The phenomenon that occurs is related to the taking over of the right to guarantee (execution) of fiduciary security and Rahn Tasjily in the execution of executions carried out by financial institutions that do not comply with applicable laws and regulations. This research uses Normative legal methods, with qualitative descriptive analysis and critical legal studies. The results of the study that the process of taking over the right to guarantee (execution) fiduciary regulated in article 29 (1) of the fiduciary guarantee law. Among the first, execution based on Grosse fiduciary guarantee certificate or executable title (fiat execution) contained in the Fiduciary Guarantee Certificate carried out by the fiduciary recipient. Second, an execution based on the execution of separate executions through public auctions by fiduciary recipients. Third, execution by sale under the hand by the creditor fiduciary himself, and fourth, fiduciary execution by claiming. Based on Islamic law, the process of expropriation of the right to guarantee (execution) Rahn Tasjily, that the procedure for executing Marhun (collateral object), if due. Murtahin must warn Rahin to pay off her debt immediately. If the Rahin still cannot repay its debt, then Marhun is forcibly sold/executed through an auction, according to sharia. Marhun sales proceeds used to pay off debt, maintenance, and storage costs that have not paid and sales costs. The excess proceeds from the sale belong to Rahin, and the shortcomings become Rahin obligations. The execution process carried out by sharia companies must be based on fatwa no. 25/DSN-MUI/III/2002, and fatwa no. 92/ DSN-MUI/IV/2014. Positive law and Islamic law, which become normative references, have not been well understood and applied by the finance parties, causing injustice and legal uncertainty.Keywords: expropriation of rights, fiduciary guarantee, rahn tasjily ABSTRAKFenomena yang terjadi terkait pengambilalihan hak atas jaminan (eksekusi) jaminan fidusia dan rahn tasjily pada pelaksanaan eksekus yang dilakukan oleh lembaga pembiayaan tidak mematuhi aturan perundang-undangan yang berlaku. Penelitian ini menggunakan metode hukum Normatif, dengan analisis deskriptif kualitatif dan studi hukum kritis. Hasil penelitian bahwa, proses pengambilalihan hak atas jaminan (eksekusi) fidusia telah diatur dalam pasal 29 (1) undang-undang jaminan fidusia. Diantaranya pertama, eksekusi berdasarkan grosse sertifikat jaminan fidusia atau titel eksekutorial (secara fiat eksekusi) yang terdapat dalam Sertifikat Jaminan Fidusia yang dilakukan oleh penerima fidusia. Kedua, eksekusi berdasarkan pelaksanaan parate eksekusi melalui pelelangan umum oleh penerima fidusia. Ketiga, eksekusi secara penjualan di bawah tangan oleh kreditor pemberi fidusia sendiri, dan keempat, eksekusi fidusia secara mendaku. Berdasarkan hukum Islam, proses pengambilalihan hak atas jaminan (eksekusi) rahn tasjily, bahwa prosedur pengeksekusisan marhun (objek jaminan), apabila jatuh tempo. Murtahin harus memperingatkan Rahin untuk segera melunasi hutangnya. Apabila rahin tetap tidak dapat melunasi hutangnya, maka marhun dijual paksa/dieksekusi melalui lelang sesuai syariah. Hasil penjualan marhun digunakan untuk melunasi utang, biaya pemeliharaan dan penyimpanan yang belum dibayar serta biaya penjualan. Kelebihan hasil penjualan menjadi milik rahin dan kekurangannya menjadi kewajiban rahin. Adapun proses eksekusi yang dilakukan oleh perusahaan syariah harus berdasarkan fatwa Nomor: 25/DSN-MUI/III/2002, dan fatwa Nomor:92/DSN-MUI/IV/2014. Hukum positif dan hukum Islam yang menjadi rujukan normatif, belum difahami dan diterapkan dengan baik oleh pihak pembiayaan, sehingga menimbulkan ketidakadilan dan ketidakpastian hukum. Kata Kunci : jaminan eksekusi fidusia,pengambilalihan hak, rahn tasjily

FINRA fines broker-dealer for failing to apply Class A sales charge waivers for certain eligible customers on its mutual fund platform

2014 ◽  
Vol 15 (4) ◽  
pp. 53-56
Author(s):  
Richard F. Kerr
Keyword(s):  
Mutual Funds ◽  
Financial Institutions ◽  
Mutual Fund ◽  
Design Methodology ◽  
Content Type ◽  
Supervisory System ◽  
Enforcement Action ◽  
Class A

Purpose – To review FINRA enforcement action taken against a broker-dealer over failure to waive mutual fund sales charges for certain eligible customers and failure to establish, maintain, and enforce a supervisory system and written procedures reasonably designed to ensure eligible accounts received sales charge waivers as set forth in the mutual funds’ prospectuses. Design/methodology/approach – Reviews and summarizes FINRA’s finding’s regarding the broker-dealer’s failure to apply applicable mutual fund sales charge waivers, deficiencies in the broker-dealer’s supervisory system and written procedures resulting in the failure, resulting violations of FINRA rules, the broker-dealer’s remedial efforts, and the sanctions imposed. Findings – This settlement provides an important reminder for FINRA member broker-dealers of the need to ensure that eligible investors receive applicable sales charger waivers or are placed in the appropriate share class, and to establish, maintain, and enforce a supervisory system and written procedures reasonably designed to ensure eligible accounts received sales charge waivers as set forth in the mutual funds’ prospectuses. Originality/value – Practical explanation from experienced financial institutions lawyers.

scholarly journals ASPEK HUKUM REKSA DANA KONTRAK INVESTASI KOLEKTIF SEBAGAI TRUSTS [Legal Aspects of Mutual Funds in the Form of Collective Investment Contracts as Trusts]

Law Review ◽  
2020 ◽  
Vol 20 (2) ◽  
pp. 246
Author(s):  
Yosephus Mainake
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Stock Exchange ◽  
Legal Aspects ◽  
Comparative Approach ◽  
Legal Tradition ◽  
Anglo Saxon ◽  
Conceptual Approach ◽  
Investment Manager

<p><em>The Capital Market Law, which carries with it the trust institutions, contains provisions regarding collective investment contract mutual funds (RD KIK) that produce securities in the form of participation units, which are traded on the stock exchange. In RD KIK, there is a trust relationship between the unit holder of the custodian bank and the investment manager. The legal relationship in the concept of collective RD KIK is similar to what happens in trusts. In the Anglo-Saxon legal tradition, mutual funds are often referred to as unit trusts and/or investment trusts, where the sponsor acts as a settlor who hands over his assets to the trustee, the sponsor acts as the settlor in the trusts as well as the unit holder in a collective investment contract mutual fund. In connection with these problems, normative legal research is carried out using a statute approach, a conceptual approach and a comparative approach. The method used in analyzing this research is qualitative analysis. So, it can be seen that the role of the custodian bank and investment manager acts as a trustee, where the custodian bank is given the authority to carry out collective custody of the assets of the joint investment contract unit holder. The investment manager is given the power to manage or control the assets submitted by the sponsor or settlor in the concept of trusts law. Thus, it can be said that the RD KIK concept is similar to the idea of trusts because it fulfills the elements of trusts.</em></p><p><strong>Bahasa Indonesia Abstrak: </strong>Undang-Undang Pasar Modal yang membawa serta pranata <em>trust</em> di dalamnya terdapat ketentuan mengenai reksa dana kontrak investasi kolektif (RD KIK) yang melahirkan efek dalam bentuk unit penyertaan, yang diperdagangkan di bursa efek. Dalam RD KIK, terdapat hubungan kepercayaan antara pemegang unit penyertaan terhadap bank kustodian dan manajer investasi. Hubungan hukum dalam konsep RD KIK kolektif ini mirip yang terjadi dalam <em>trusts</em>. Dalam tradisi hukum Anglo Saxon, reksa dana sering kali disebut dengan <em>unit trusts</em> dan atau <em>investment trust</em>, yaitu sponsor bertindak sebagai settlor yang menyerahkan harta kebendaanya kepada <em>trustee</em>, sponsor sebagai <em>settlor</em> dalam <em>trusts</em> sama halnya dengan pemegang unit penyertaan dalam reksa dana kontrak investasi kolektif. Sehubungan dengan permasalahan tersebut, dengan ini dilakukan penelitian hukum normatif dengan menggunakan pendekatan undang-undang, pendekatan konseptual dan pendekatan perbandingan. Cara yang digunakan dalam menganalisis penelitian ini yakni analisis kualitatif. Maka dapat dilihat bahwa peran bank kustodian dan manajer investasi bertindak sebagai <em>trustee</em>, di mana bank kustodian diberi wewenang untuk melaksanakan penitipan kolektif terhadap harta pemegang unit kontrak investasi kolektif dan manajer investasi diberi wewenang untuk melakukan pengelolaan atau penguasaan terhadap harta yang diserahkan oleh sponsor atau settlor dalam konsep hukum <em>trusts</em>. Dengan demikian, dapat dikatakan bahwa konsep RD KIK mirip dengan konsep <em>trusts</em> karena telah memenuhi unsur-unsur <em>trusts</em>.</p><p><strong>Kata Kunci: Reksa Dana Kontrak Investasi Kolektif, <em>Trusts</em></strong></p>

scholarly journals Kinerja Reksa Dana Saham Dengan Menggunakan Metode Sharpe, Trenyor Dan Jensen Pada Periode Januari 2014 Sampai Desember 2015

2019 ◽  
Vol 2 (2) ◽  
Author(s):  
Methirana Dan Indra Widjaja
Keyword(s):  
Data Collection ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Return On Investment ◽  
Research Method ◽  
Stock Exchange ◽  
Investment Policy ◽  
Objective Performance ◽  
Equity Funds ◽  
Investment Manager

The purpose of the research is to analyze the types of equity funds in the stock market and analyze the performance of the funds equity method using sharpe, trenyor methods, and methods of jensen. The research method used is the method of data collection and processing of data by calculation in accordance with methods of sharpe, treynor method and methods of jensen. Method of data collection is composed of effective data from the website of the stock exchange. Calculation method consists of a method of sharpe, treynor method, and methods of jensen. The benefits of this comparison can give you an idea about the objective performance of mutual funds in Indonesia as one of the considerations for investors and potential investors in choosing the best mutual fund, and to an investment manager with the research expected to provide knowledge about the Investment Manager on the performance that they do. In addition to knowing the competition industry mutual funds in Indonesia so as to provide a reference for an investment manager as a determinant of investment policy to increase the return on investment and minimize risk. As well as for the community Provide knowledge and information on the performance of mutual funds in Indonesia.

scholarly journals PERLINDUNGAN HUKUM BAGI KORBAN TINDAK KEKERASAN SEKSUAL KAUM TUNARUNGU DALAM PRESPEKTIF HUKUM PIDANA

2020 ◽  
Vol 13 (2) ◽  
pp. 218-228
Author(s):  
Yulianti Ningsih Cahyani ◽  
Alfa Galih Verdiantoro ◽  
Febriyanti Uma
Keyword(s):  
Sexual Violence ◽  
Social Care ◽  
Islamic Law ◽  
Human Life ◽  
Legal Protection ◽  
People With Disabilities ◽  
Persons With Disabilities ◽  
Positive Law ◽  
The Law

AbstractVictims of sexual violence against persons with disabilities need legal protection through justice or social care, legislation is one of the references in the process of handling sexual violence because so far women have had difficulty in obtaining justice. With the aim of providing Islamic law in order to realize a better and fairer human life, as well as for the recovery of victims of sexual violence so that it can be accepted in the community and discrimination is not done which can make victims more traumatized. From the research that has been done that many people with disabilities who do not know the legal protection for them to avoid violence, harassment or taking away their rights are often ignored because of physical deficiencies, the positive law lies in the fact that the law is made and can be erased from everything acts that have been done by humans and are independent of the norms themselves.Keywords: legal protection; victims of violenceAbstrakKorban kekerasan seksual pada kaum difabel memerlukan perlindungan hukum baik melalui peradilan ataupun kepedulian sosial, perundang-undangan adalah salah satu rujukan dalam proses penanganan tindak kekerasan seksual karena selama ini perempuan sulit mendapatkan keadilan. Dengan tujuan memberikan penetapan hukum islam agar dapat mewujudkan kehidupan manusia yang lebih baik dan adil, sebagaimana untuk pemulihan pada korban kekerasan seksual agar dapat diterima dimasyarakat dan tidak dilakukannya diskriminasi yang dapat membuat korban menjadi lebih trauma. Dari penelitian yang telah dilakukan bahwa banyak kaum difabel yang belum mengetahui perlindungan hukum kepada mereka agar terhindar dari tindak kekerasan, pelecehan atau pengambilan hak mereka yang seringkali diabaikan karena dengan adanya kekurangan fisik, dalam hukum positif terletak pada fakta bahwa hukum dibuat dan dapat dihapuskan dari segala perbuatan yang telah dilakukan oleh manusia itu dan terlepas dari norma-norma itu sendiri.Kata kunci: korban kekerasan; perlindungan hukum

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.

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