| Summary: | Mutual funds are capital market products on the rise, especially since entering
the 2006 stock market stretching more appealing to foreign and local investors. But
the global crisis that occurred in 2008 has caused a domino effect on the solvency and
liquidity of financial institutions in developed countries and spread to parts of Asia
including Indonesia. Level of confidence and purchasing power decreases, so the
market is affected by this. The decline in stock market performance was allegedly
causing many investors switch to safer investments such as deposits. Mutual Fund as
one of the alleged investment instruments also significantly impacted by the global
crisis. As the only government-owned company engaged in capital markets, how is
the performance of mutual fund issued by PT Danareksa Investment Management, is
the issuance of mutual fund performance also influence on the global economic crisis
or not. To find out, in this writing the authors calculate the performance of each
mutual fund issued by PT Danareksa Investment Management (Danareksa Mawar,
Danareksa Anggrek, Danareksa Gebyar Indonesia, and Danareksa Syariah
Berimbang) during the period of global crisis (in 2007 until the year 2009) by using
methods of risk adjusted performance through the Sharpe ratio, Treynor ratio and the
ratio of Differential Return and analyze the characteristics of each mutual fund under
investigation. Because this method has a calculation between risk and return, we need
a data return of the product since January 2007 to December 2009 data derived from
the net asset value of mutual funds. By utilizing these data to known risks of each
product. From the results of those calculations can be seen the performance of each
type of mutual funds during the period of global crisis and what types of mutual funds
that produce better performance than other types of mutual funds. Use of this method
is expected to support each other in a more careful analysis because the ratios used
has the advantages and disadvantages of each and not apart from the use of
assumptions and predictions of an uncertain future.
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