KINERJA MANAJER INVESTASI REKSADANA SAHAM SYARIAH DI INDONESIA

ANITA ANITA

Abstract


The purpose of this study is to test the ability of investment managers in Islamic mutual funds in their ability
to conduct stock selection and market timing. The model developed in this study uses the Henriksson-Merton
model. With purposive sampling technique obtained a sample of 31 mutual funds. After testing the results
obtained, the performance of Islamic stock mutual funds in Indonesia underperformed compared to the ISSI
market performance. The stock selection results contribute negatively to a = 5%, while the ability of market
timing has a significant positive effect on mutual fund returns.

Keywords


Excess Return, Market Timing, Portfolio, Stock Selection

References


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DOI: http://dx.doi.org/10.15548/al-masraf.v4i1.204

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