Comparative Analysis of Sharia Stock Mutual Fund Performance in Indonesia and Malaysia

DOI

10.2991/aebmr.k.211207.027How to use a DOI?

Keywords

Performance of mutual funds; Sharpe; Treynor; Jensen

Abstract

The purpose of this study is to determine the difference between Indonesian sharia equity mutual fund and Malaysian equity mutual funds. The population used for this study were all sharia equity mutual funds registered with the Indonesian Financial Services Authority (OJK) and Malaysian Securities from 2015 to 2018. The technique sample in this study is purposive sampling method. After sampling the sharia equity mutual funds registered with the OJK and Securities Malaysia, this study used a sample of 17 Indonesian Sharia stock mutual funds and 17 Malaysian Sharia stock mutual funds in an observation period of 4 years, namely the 2015-2018 period. This study uses secondary data in the form of annual financial statements of Investment Management companies registered with OJK and Securities Commission Malaysia with the end of the financial year on December 31, 2015 to December 31, 2018. The analysis used in this study is normality test to determine parametric or non-parametric analysis. Fund performance measured by the Sharpe index, Treynor index, and Index Jensen. The results of this study that the performance of sharia equity funds in Indonesia and in Malaysia based on the Sharpe method has a evident difference, whereas based on the Jensen and Treynor methods the sharia equity funds in Indonesia and Malaysia have no evident differences, for the performance when compared with the Sharpe method, the performance of Malaysian Sharia stock mutual funds is better than the performance of Indonesian Sharia stock mutual funds, when compared with Treynor index method Indonesian and Malaysian Sharia mutual funds has good performance, when compared with the Jensen method, the performance of Malaysian Sharia stock mutual funds is better than the performance of Indonesian Sharia stock mutual funds.

Copyright

© 2021 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Galuh Athira Hasanah
AU  - A Dewantoro Marsono
PY  - 2021
DA  - 2021/12/07
TI  - Comparative Analysis of Sharia Stock Mutual Fund Performance in Indonesia and Malaysia
BT  - Proceedings of the Conference Towards ASEAN Chairmanship 2023 (T-A-C 23 2021)
PB  - Atlantis Press
SP  - 175
EP  - 178
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.211207.027
DO  - 10.2991/aebmr.k.211207.027
ID  - Hasanah2021
ER  -