The Relation of Fund Characteristics on Sharia Equity Mutual Funds Performance

Authors

  • Bilhaq Fajrinda Universitas Pembangunan Nasional Veteran Jakarta
  • Jubaedah Nawir Universitas Pembangunan Nasional Veteran Jakarta
  • Nurmatias Nurmatias Universitas Pembangunan Nasional Veteran Jakarta

DOI:

https://doi.org/10.21111/tijarah.v8i1.6553

Keywords:

Sharia Equity Mutual Fund Performance, Fund Size, Fund Age, JII.

Abstract

This research aims to find out and prove the influence of fund size, fund age, and jakarta islamic index on sharia equity mutual funds performance. The object of the study is sharia equity mutual funds using a sample of 16 mutual fund products during the period 2017-2020 and the use of Data Panel Regression Analysis Techniques through the Eviews 10 program. The results found in the study are fund size, fund age and JII positively affect on sharia equity mutual funds performance.

References

Alim, F. A., Mai, M. U., & Setiawan. (2021). Analisis Pengaruh Faktor Internal dan Faktor Ekternal terhadap Kinerja Reksa Dana Syariah Saham The analysist of internal and external factor influences on Sharia equity funds performance. 1(2), 435–445.

Asriwahyuni, I. G. A. P. (2017). Pengaruh Ukuran dan Umur Pada Kinerja Reksa Dana Saham di Indonesia. E-Jurnal Akuntansi, 21(2), 1460–1487. https://doi.org/10.24843/EJA.2017.v21.i02.p22

Babbar, S., & Sehgal, S. (2018). Mutual Fund Characteristics and Investment Performance in India. Management and Labour Studies, 43(1–2), 1–30. https://doi.org/10.1177/0258042x17745183

Beaver, W. H. (1989). Financial Reporting: An Accounting Revolution, 2nd Ed. Prentice Hall.

Chairani, S. (2020). Pengaruh Nilai Tukar Rupiah (Kurs), Jakarta Sharia Index (JII), Usia Reksadana, Dan Volume Perdagangan Reksadana Syariah. Tirtayasa Ekonomika, 15(1), 31–43.

Devi, F., & Sudirman, I. M. S. N. (2021). The Effect of Stock Selection Ability , Market Timing Ability , Fund Size and Portfolio Turnover on Equity Fund Performance in Indonesia. American Journal of Humanities and Social Sciences Research (AJHSSR), 5(3), 58–64.

Fama, E. F. (1970). Efficient Capital Markets: A Review Of Theory And Empirical Work. The Journal of Finance, 25(2), 383–417.

Filip, D. (2018). The impact of fund attributes on performance: Empirical evidence for Polish equity funds. Zbornik Radova Ekonomskog Fakultet Au Rijeci, 36(2), 465–488. https://doi.org/10.18045/zbefri.2018.2.465

Juniar, A., & Rachmah, D. A. (2018). Analisis Pengaruh Stock Selection Skill, Market Timin Ability, dan Fund Longevity Terhadap Kinerja Reksadana Saham Syariah. Jurnal Sains Manajemen Dan Kewirausahaan, 2(1), 61–69.

Kurniawan, E. (2020). Pengaruh Inflasi, Jakarta Sharia Index, Bagi Hasil Bank Syariah Terhadap Investasi Reksa Dana Syariah. Kinerja Jurnal Ekonomi Dan Bisnis, 2(01), 113–121. https://doi.org/10.34005/kinerja.v2i02.799

Kusumastiti, F., & Ryandono, M. N. H. (2019). Pengaruh Risiko Sistematis, Market Timing Dan Ukuran Dana Terhadap Kinerja Reksa Dana Pendapatan Tetap Syariah Di Indonesia Periode 2014-2018. Jurnal Ekonomi Syariah Teori Dan Terapan, 6(12), 2409–2421.

Markowitz, H. (1952). Portfolio Selection. The Journal of Finance, 7(1), 77–91. https://doi.org/10.1111/j.1540-6261.1952.tb01525.x

Nada, L., & Darmawan. (2019). Fund Age, BI Rate, Exchange Rate, Dan Jakarta Sharia Index Pada Net Asset Value Di Sharia Equity Mutual Fund Indonesia. Jurnal Manajemen, 10(1), 01–11. https://doi.org/10.32832/jm-uika.v10i1.1750

Nguyen, A. N., Shahid, M. S., & Kernohan, D. (2018). Investor confidence and mutual fund performance in emerging markets: Insights from India and Pakistan. Journal of Economic Studies, 45(6), 1288–1310. https://doi.org/10.1108/JES-07-2017-0175

Nguyen, H. T., & Nguyen, D. T. N. (2019). The impact of country-level and fund-level factors on mutual fund performance in Vietnam. Journal of Economics and Development, 21(1), 42–56. https://doi.org/10.1108/jed-06-2019-0007

Putri, K. A. (2017). Pengaruh market timing, ukuran reksa dana dan tingkat risiko terhadap kinerja reksa dana saham syariah. Management and Business Review, 1(2), 65–78. https://doi.org/10.21067/mbr.v1i2.4726

Sabila, F. H. (2019). Stock Selection dan Market Timing Ability Reksa Dana Syariah Saham di Indonesia. Journal of Economic, Public, and Accounting (JEPA), 1(2), 68–81. https://doi.org/10.31605/jepa.v1i2.275

Setyawati, N. P. E. C., & Sudiartha, G. M. (2019). PEMBENTUKAN PORTOFOLIO OPTIMAL MENGGUNAKAN MODEL MARKOWITZ. E-Jurnal Manajemen, 8(7), 4213–4238. https://doi.org/doi.org/10.24843/EJMUNUD.2019.v08.i07.p08

Soemitra, A. (2014). Masa depan pasar modal syariah di Indonesia. Kencana.

Wardani, I. K., & Sutrisno. (2018). Analisis Pengaruh Jakarta Sharia Index (JII),Inflasi dan Kemampuan Manajer Investasi Terhadap Kinerja Reksadana Saham Syariah.

Wicaksono, M. P., & Sampurno, R. D. (2017). Analisis Pengaruh Fund Age, Market Timing Ability, Stock Selection Skill, Portfolio Turnover dan Fund Size Terhadap Kinerja Reksadana Sayariah Periode 2013 - 2015. Diponegoro Journal of Management, 6(3), 1–11.

Downloads

Published

2022-06-10

How to Cite

Fajrinda, B., Nawir, J., & Nurmatias, N. (2022). The Relation of Fund Characteristics on Sharia Equity Mutual Funds Performance. Al Tijarah, 8(1), 15–26. https://doi.org/10.21111/tijarah.v8i1.6553

Issue

Vol. 8 No. 1 (2022): Al Tijarah | June

Section

Articles

License

The Authors submitting a manuscript do so on the understanding that if accepted for publication, copyright of the article shall be assigned to Al Tijarah journal and Departement of Management, Faculty of Economics and Management, University of Darussalam as publisher of the journal.