Sharia mutual funds performance in Indonesia
The study aims to measure each Sharia mutual fund performance and compare with market performance in Indonesia. Sharia mutual fund investment instruments in Indonesia have positive developments over the period from 2012 to 2017. These positive developments add to the option of investment instruments...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Vilnius Gediminas Technical University
2019-01-01
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| Series: | Business: Theory and Practice |
| Subjects: | |
| Online Access: | https://journals.vgtu.lt/index.php/BTP/article/view/10443 |
| _version_ | 1797330990866104320 |
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| author | Robiyanto Robiyanto Michael Alexander Santoso Rihfenti Ernayani |
| author_facet | Robiyanto Robiyanto Michael Alexander Santoso Rihfenti Ernayani |
| author_sort | Robiyanto Robiyanto |
| collection | DOAJ |
| description | The study aims to measure each Sharia mutual fund performance and compare with market performance in Indonesia. Sharia mutual fund investment instruments in Indonesia have positive developments over the period from 2012 to 2017. These positive developments add to the option of investment instruments for public, especially investors who put forward the principles of Sharia. This research was conducted so that the public could have scientific information about Sharia mutual funds that have the best performance. The study found consistent results regarding Sharia mutual funds with the best performance on Sharpe and Jensen measurement methods. The best performing Sharia mutual fund by using those methods was PNM Syariah, while the lowest-performing mutual fund was PNM Amanah Syariah if measured by using Sharpe Index and PNM Ekuitas Syariah if measured by using Jensen Alpha. Different results were found when Sharia mutual fund performance was measured using Treynor Ratio Information Ratio, where the best Sharia mutual fund performance was by Manulife Syariah Sectoral Amanah mutual fund while the lowest performance was by Cipta Syariah Equity mutual fund. This findings are expected to be useful for Sharia-based investors. |
| first_indexed | 2024-03-08T07:28:07Z |
| format | Article |
| id | doaj.art-515f69ce7a0f4e75bef4b20d0ae16ff4 |
| institution | Directory Open Access Journal |
| issn | 1648-0627 1822-4202 |
| language | English |
| last_indexed | 2024-03-08T07:28:07Z |
| publishDate | 2019-01-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | Business: Theory and Practice |
| spelling | doaj.art-515f69ce7a0f4e75bef4b20d0ae16ff42024-02-02T21:09:35ZengVilnius Gediminas Technical UniversityBusiness: Theory and Practice1648-06271822-42022019-01-012010.3846/btp.2019.0230637Sharia mutual funds performance in IndonesiaRobiyanto Robiyanto0Michael Alexander Santoso1Rihfenti Ernayani2Satya Wacana Christian University, Salatiga, IndonesiaSatya Wacana Christian University, Salatiga, IndonesiaUniversity of Balikpapan, Balikpapan, IndonesiaThe study aims to measure each Sharia mutual fund performance and compare with market performance in Indonesia. Sharia mutual fund investment instruments in Indonesia have positive developments over the period from 2012 to 2017. These positive developments add to the option of investment instruments for public, especially investors who put forward the principles of Sharia. This research was conducted so that the public could have scientific information about Sharia mutual funds that have the best performance. The study found consistent results regarding Sharia mutual funds with the best performance on Sharpe and Jensen measurement methods. The best performing Sharia mutual fund by using those methods was PNM Syariah, while the lowest-performing mutual fund was PNM Amanah Syariah if measured by using Sharpe Index and PNM Ekuitas Syariah if measured by using Jensen Alpha. Different results were found when Sharia mutual fund performance was measured using Treynor Ratio Information Ratio, where the best Sharia mutual fund performance was by Manulife Syariah Sectoral Amanah mutual fund while the lowest performance was by Cipta Syariah Equity mutual fund. This findings are expected to be useful for Sharia-based investors.https://journals.vgtu.lt/index.php/BTP/article/view/10443Sharia mutual fundJensen IndexSharpe IndexTreynor RatioInformation Ratio |
| spellingShingle | Robiyanto Robiyanto Michael Alexander Santoso Rihfenti Ernayani Sharia mutual funds performance in Indonesia Business: Theory and Practice Sharia mutual fund Jensen Index Sharpe Index Treynor Ratio Information Ratio |
| title | Sharia mutual funds performance in Indonesia |
| title_full | Sharia mutual funds performance in Indonesia |
| title_fullStr | Sharia mutual funds performance in Indonesia |
| title_full_unstemmed | Sharia mutual funds performance in Indonesia |
| title_short | Sharia mutual funds performance in Indonesia |
| title_sort | sharia mutual funds performance in indonesia |
| topic | Sharia mutual fund Jensen Index Sharpe Index Treynor Ratio Information Ratio |
| url | https://journals.vgtu.lt/index.php/BTP/article/view/10443 |
| work_keys_str_mv | AT robiyantorobiyanto shariamutualfundsperformanceinindonesia AT michaelalexandersantoso shariamutualfundsperformanceinindonesia AT rihfentiernayani shariamutualfundsperformanceinindonesia |