Performance Comparison of Mutual Funds and Sharia Mutual Funds

https://doi.org/10.35912/bukhori.v1i1.600
Published: Sep 7, 2021

Abstract:

Purpose: This study aimed to examine the differences in the performance of Islamic mutual funds with mutual funds based on the Sharpe and Jensen method for the 2010-2020 period in the Indonesian Capital Market.

Research Methodology: The study uses a quantitative approach to the type of comparative research. The data used is secondary data from OJK. The population used in this study is the capitalization of sharia mutual fund performance data with mutual funds, the period 2010-2020 (monthly data) in the Indonesian Capital Market. Data analysis was carried out using the Sharpe and Jensen method and the Manova test with the help of the SPSS statistical program.

Results: The results of this study indicate that there is no significant difference between the performance of Islamic mutual funds and mutual funds with the Sharpe and Jensen method. This shows that the return on the performance of Islamic mutual funds and mutual funds based on the Sharpe and Jensen method received will be relatively the same. Investment performance in Mutual Fund portfolio management is reflected in the net asset value (NAV).

Limitations: This research has been attempted and carried out in accordance with scientific procedures. However, it still has limitations; this research is limited to 2010 – 2020 with monthly data.

Contribution: This research implies that this research can better contribute to the general public, academics, and investors to understand the performance of capital market investment instruments before they invest.

Keywords:
1. Performance
2. Mutual Funds
3. Sharia Mutual Funds
4. Sharpe and Jensen Methods
Authors:
1 . Kharisma Novita Sari
2 . Moch Sulchan
3 . Mimah Mutamimah
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How to Cite
Sari, K. N., Sulchan, M., & Mutamimah, M. (2021). Performance Comparison of Mutual Funds and Sharia Mutual Funds. Bukhori: Kajian Ekonomi Dan Keuangan Islam, 1(1), 65–77. https://doi.org/10.35912/bukhori.v1i1.600
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Issue & Section
Vol. 1 No. 1 (2021): Juli
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References

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  1. Bareksa. (2019, Juni 12). Know The Sharpe, Treynor And Jensen Ratios In Measuring Mutual Fund Performance. Retrieved Mei 1, 2021, From Www.Bareksa.Com: Https://Www.Bareksa.Com/Berita/Reksa-Dana/2019-06-12/Mengenal-Rasio-Sharpe-Treynor-Dan-Jensen-Dalam-Mengukur-Kinerja-Reksadana
  2. Bareksa. (2021, Mei 05). Kemenkeu : Ekonomi Q1 Hanya 2,97 Persen Akibat Corona, Urgensi Bansos Meningkat. Retrieved Mei 1, 2021, From Www.Bareksa.Com: Https://Www.Bareksa.Com/Berita/Id/Text/2020/05/05/Kemenkeu-Ekonomi-Q1-Hanya-297-Persen-Akibat-Corona-Urgensi-Bansos-Meningkat/24908/News
  3. BKPM. (2021, April 26). Realisasi Investasi Triwulan I Tahun 2021 Rp 219,7 Triliun, Kepala BKPM Optimis Target Investasi Tercapai. Retrieved Mei Sabtu, 2021, From Https://Www.Bkpm.Go.Id: Https://Www.Bkpm.Go.Id/Id/Publikasi/Siaran-Pers/Readmore/2420901/71101
  4. Iqbal, M. H. (2013). Research Data Analysis With Statistics 2nd Edition. Jakarta: Bumi Aksara.
  5. Lestari, W. R. (2015). Performance Of Shariaequity Mutual Funds And Conventional Equity Mutual Funds. Jounal Of Master Of Management, Vol. 01, No 1.
  6. Malik, A. (2021, Maret 19). Ini Yang Membedakan Antara Reksadana Syariah Dengan Konvensional. Retrieved Juni 20, 2021, From Www.Bareksa.Com: Https://Www.Bareksa.Com/Berita/Reksa-Dana/2021-03-19/Ini-Yang-Membedakan-Antara-Reksadana-Syariah-Dengan-Konvensional
  7. Mustofa, N. H. (2017). Nasution. Investmen In The Shariacapital Marketing. Jakarta: Prenada Media Group.
  8. Nur Kholidah, M. R. (2019). Performance Analysis Of Sharia Equity Mutual Funds Using The Sharpe,Treynor,Jensen,M And Methods. Indonesian Interdisciplinary Journal Of Sharia Economics (IIJSE), Vol 1 No . E-ISSN:2621-606X.
  9. Reksoatmodjo, R. N. (2019). Statistics For Psychology And Education. Bandung: PT. Refika Aditama.
  10. Sugiyono. (2014). Quantitative,Qualitative Anda Rnd Research Methods,20th Edition. Bandung: Alfabet
  11. Tandelilin, E. (2011). Portofolio And Investmen Theory And Application. Yogyakarta: Kanisius.