Bond Fund Versus Islam Bond Fund: A Comparison of the Performance of Fixed Income Funds in Malaysia
This study examines 43 bond funds and 24 Islamic bond funds in Malaysia from 1 August 2016 to 30 July 2021. This study analyses the performance of fixed income fund portfolios using risk-adjusted models: Treynor ratio, Sharpe ratio, and Jensen alpha. The Wilcoxon signed rank test was done on the top...
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| Format: | Article |
| Language: | English English |
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Human Resource Management Academic Research Society
2023
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| Online Access: | https://eprints.ums.edu.my/id/eprint/38424/1/ABSTRACT.pdf https://eprints.ums.edu.my/id/eprint/38424/2/FULL%20TEXT.pdf |
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| author | Aminah Shari Mohd Zulkarnain Bahrun |
| author_facet | Aminah Shari Mohd Zulkarnain Bahrun |
| author_sort | Aminah Shari |
| collection | UMS |
| description | This study examines 43 bond funds and 24 Islamic bond funds in Malaysia from 1 August 2016 to 30 July 2021. This study analyses the performance of fixed income fund portfolios using risk-adjusted models: Treynor ratio, Sharpe ratio, and Jensen alpha. The Wilcoxon signed rank test was done on the top 20 bond funds and Islamic bond funds portfolios to compare risk adjusted performance using Sharpe, Treynor, and Jensen. Sharpe and Treynor's top 20 bond fund portfolios underperformed the market, while Islamic bond funds outperformed. Both funds outperform the market, according Jensen alpha. The performance of bond funds and Islamic bond funds differs significantly when three risk-adjusted models are utilised. This analysis reveals that Islamic bond funds are more stable over this time span. |
| first_indexed | 2024-03-06T03:28:15Z |
| format | Article |
| id | ums.eprints-38424 |
| institution | Universiti Malaysia Sabah |
| language | English English |
| last_indexed | 2024-03-06T03:28:15Z |
| publishDate | 2023 |
| publisher | Human Resource Management Academic Research Society |
| record_format | dspace |
| spelling | ums.eprints-384242024-03-01T07:29:09Z https://eprints.ums.edu.my/id/eprint/38424/ Bond Fund Versus Islam Bond Fund: A Comparison of the Performance of Fixed Income Funds in Malaysia Aminah Shari Mohd Zulkarnain Bahrun BP1-68 General HG3810-4000 Foreign exchange. International finance. International monetary system This study examines 43 bond funds and 24 Islamic bond funds in Malaysia from 1 August 2016 to 30 July 2021. This study analyses the performance of fixed income fund portfolios using risk-adjusted models: Treynor ratio, Sharpe ratio, and Jensen alpha. The Wilcoxon signed rank test was done on the top 20 bond funds and Islamic bond funds portfolios to compare risk adjusted performance using Sharpe, Treynor, and Jensen. Sharpe and Treynor's top 20 bond fund portfolios underperformed the market, while Islamic bond funds outperformed. Both funds outperform the market, according Jensen alpha. The performance of bond funds and Islamic bond funds differs significantly when three risk-adjusted models are utilised. This analysis reveals that Islamic bond funds are more stable over this time span. Human Resource Management Academic Research Society 2023 Article NonPeerReviewed text en https://eprints.ums.edu.my/id/eprint/38424/1/ABSTRACT.pdf text en https://eprints.ums.edu.my/id/eprint/38424/2/FULL%20TEXT.pdf Aminah Shari and Mohd Zulkarnain Bahrun (2023) Bond Fund Versus Islam Bond Fund: A Comparison of the Performance of Fixed Income Funds in Malaysia. International Journal of Academic Research in Accounting, Finance and Management Sciences, 13. pp. 243-256. ISSN 2225-8329 http://dx.doi.org/10.6007/IJARAFMS/v13-i3/18903 |
| spellingShingle | BP1-68 General HG3810-4000 Foreign exchange. International finance. International monetary system Aminah Shari Mohd Zulkarnain Bahrun Bond Fund Versus Islam Bond Fund: A Comparison of the Performance of Fixed Income Funds in Malaysia |
| title | Bond Fund Versus Islam Bond Fund: A Comparison of the Performance of Fixed Income Funds in Malaysia |
| title_full | Bond Fund Versus Islam Bond Fund: A Comparison of the Performance of Fixed Income Funds in Malaysia |
| title_fullStr | Bond Fund Versus Islam Bond Fund: A Comparison of the Performance of Fixed Income Funds in Malaysia |
| title_full_unstemmed | Bond Fund Versus Islam Bond Fund: A Comparison of the Performance of Fixed Income Funds in Malaysia |
| title_short | Bond Fund Versus Islam Bond Fund: A Comparison of the Performance of Fixed Income Funds in Malaysia |
| title_sort | bond fund versus islam bond fund a comparison of the performance of fixed income funds in malaysia |
| topic | BP1-68 General HG3810-4000 Foreign exchange. International finance. International monetary system |
| url | https://eprints.ums.edu.my/id/eprint/38424/1/ABSTRACT.pdf https://eprints.ums.edu.my/id/eprint/38424/2/FULL%20TEXT.pdf |
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