PERBANDINGAN KINERJA REKSADANA SYARIAH SAHAM DENGAN KINERJA PASAR (ISSI) DI BURSA EFEK

Abstract

The purpose of this study is to determine whether there is a difference
between the performance of sharia mutual fund shares with market
performance by using the Sharpe Method, Treynor, TT Index and
MM Index. This study is comparative, IE compares the return rate of
sharia mutual fund shares with ISSI index return as a benchmark.
The samples taken there are 7 sharia mutual fund shares of the total
population of 85 sharia mutual fund shares during the study period.
The data used are NAV/investment units of each sharia mutual fund
shares, SWBI, and ISSI return. The data are in the form of daily data
for 6 months, from October 1, 2015 to March 2016. The results of this
study indicate that the Shariah mutual fund performance measured by
the Sharpe method during the period October 2015 to March 2016 has
a positive performance. Shariah mutual fund performance measured
by the Treynor method during the period October 2015 to March 2016
has 6 positive Treynor values and 1 negative Treynor value. Sharia
mutual fund performance measured by the TT index method during
the period October 2015 to March 2016 has 6 positive TT index values
and 1 negative TT index value. Sharia mutual fund performance
measured by MM index method during period of October 2015 until
March 2016 has MM index positive value, but the return is smaller
than market performance return (ISSI).