| Summary: | In investing, mutual fund is one way to diversify investments. Based on the
principle that was followed, a mutual fund that is divided into two conventional
mutual funds and Islamic mutual funds. In terms of return, Islamic mutual funds
are still smaller than conventional mutual funds. But they still can provide
benefits that exceed the gains from interest rate deposits. Mutual fund both
conventional and sharia, successfully attracted many investors because of several
advantages it has.
The purpose of this study is to provide information to investors in choosing
a mutual fund as an investment option by looking at the performance of mutual
funds based on the degree of variability, the rate and magnitude volatibilitas
diversification achieved. The research data used in this study is secondary data
obtained from PT Infovesta Utama, Bapepam and Bank Indonesia. Samples taken
in this study of 30 (thirty) mutual funds that are still active by October 31, 2011
both conventional and Islamic to the same sub-category of stock, mixed and fixed
income.
To analyze the return on mutual funds both conventional and Islamic, this
study used four models of measuring that are Sharpe (RVAR) index, Treynor
(RVOL) index, Reward to Market Risk (RMAR) index and Reward to
Diversification (RDIV) index. Based on performance appraisal of equity and
mixed mutual funds as measured by Sharpe index, Treynor index, Reward to
Market Risk index and Reward to Diversification index during the period January
1, 2008 until October 31, 2011, the performance of conventional mutual funds are
better than the performance of Islamic mutual funds. While the performance of
fixed income mutual funds as measured by the Sharpe index, Treynor index,
Reward to Market Risk index and Reward to Diversification index during the
same period, the performance of Islamic mutual funds are better than the
performance of conventional mutual funds.
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