Authors:
Tresna Mutiara
;
Suryana Suryana
and
Suci Aprilliani Utami
Affiliation:
Universitas Pendidikan Indonesia, Bandung and Indonesia, Indonesia
Keyword(s):
Rupiah Exchange Rate, Inflation, SBIS, Net Asset Value, Sharia Mixed Mutual Fund.
Abstract:
Sharia Mutual Fund is the first sharia investment instrument in Indonesia on 1996 by Danareksa company, then there is a sharia mixed mutual funds whose performance is seen from Net Asset Value (NAV) issued by the Financial Services Authority (OJK). Net Asset Value of Sharia Mutual Funds has reached 16,204.97 Billion, the achievement is quite good. However, it is still smaller than the achievements made by conventional mutual funds that amounted to 340,186.39 billion. This study aims to examine the effect of macroeconomic variables which are Indonesia Rupiah Exchange Rate, Inflation and Bank Indonesia Sharia Certificates (SBIS) against NAV Sharia Mutual Funds. This research uses quantitative approach by using pooled data from January 2013 until February 2017. Data analysis technique used is pooled data regression analysis. The result of this research concludes Indonesia exchange rate has a significant negative effect on NAV of sharia mixed mutual fund, Inflation has positive significa
nt effect to NAV of sharia mixed mutual fund and SBIS has a significant positive effect on NAV of sharia mixed mutual fund. The implication of this study that if the exchange rate rises or in the sense of depreciated rupiah, then the influence is very significant to Sharia Mixed Mutual Funds NAV.
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