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Analysis towards the performance of fixed income fund in mutual fund market

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Mutual Fund, as one of the instruments in capital market were begin to introduce in Indonesia through Capital Market Law Number 8, year 1995 (effectively conducted in 1996) which declared the establishment of Mutual Fund. Since it was first introduced in Indonesia, this kind of products achieved positive responds from the investors, proved by the increasing number of Mutual Fund issuers from 25 issuers in 1996 to 77 issuers in 1997 (symbolized an increasing number up to 208%), and keep increasing year to year after. This analysis aimed to find out the actual performance of each Fixed Income Funds, which are one of the various types of Mutual funds, and determined the best Fixed Income Funds as the basis of decision making for conducting an investment throughout 2006 - April 2011 periods. Instead of only used common assumption for predicting performance or return taken from NAV/unit, researcher tried to measure the performance of Fixed Income Funds with consideration embraced the investment risk through 3 (three) systematical methods named Sharpe, Treynor, and Jensen, which will be more specified later in the thesis. The methodology conducted for the research are taken the data from possible literature review (books, internet, magazine, and journal) and the remaining comes from secondary data, comprise of Net Asset Value per Unit (NAV/unit); Bond Index; SBI (Sertifikat Bank Indonesia); and all numerical data related to Mutual Fund, especially about Fixed Income Fund. Afterwards, the data then processed statistically with Microsoft Excell 2007 in order to run Regression analysis, and further used SPSS version 16 with analysis package of One Sample t-Test and One Way ANOVA (Analysis of Variance) to answer the research question.rnThe study then found that measuring performance using NAV/unit contributed 100% investable condition (Outperformed), means that all fixed income fund samples have portfolio return above the market return (based on One Sample t-Test result). On the other side, performance measurement conducted with risk adjustment approach by Sharpe, Treynor, and Jensen produced different results, with only 80% outperformed (based on One Sample t-Test result). The research also discovered that measurement throughr Sharpe, Treynor, and Jensen produced no significant different mean results (based on One Way ANOVA result).

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Availability

B01013

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Available

Detail Information

Series Title

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Call Number

1013

Publisher

: Swiss German University., 2011

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Language

English

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Classification

NONE

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Subject(s)

Acctg

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