Performance of Sharia Mutual Fund: The Analysis of Asset Allocation in Indonesia

Abstract

Mutual fund has already existed in Indonesia since 1995 but it has not been socialized. It was due to lack of information to the public about how to invest in stock market, especially in mutual fund. So that, the public have difficulties in assessing and selecting the mutual fund that can provide optimum performance and has benefits affecting the growth of mutual fund. The purpose of this research is to analyze the effect of asset allocation policy (sharia stocks, sharia bonds (sukuk), and mudharabah deposits) on the performance of mixed sharia mutual fund in Indonesia during 2010—2013. The type of this research is descriptive-verification analysis. The samples used are seven mixed sharia mutual funds in each year. So the total number of samples are twenty eight mixed sharia mutual funds during 2010—2013. The result shows that asset allocation policy for sharia stocks, asset allocation policy for sharia bonds (sukuk), and asset allocation policy for mudharabah deposits are simultaneously affecting mixed sharia mutual fund performance. It is simultaniously indicated 0.522 or approximately 52.2%.

DOI: 10.5901/mjss.2017.v8n3p163