Effect of Rupiah Exchange Rate, Bi Rate and Money Supply on the Net Asset Value of Sharia Mutual Funds

Feliyawanti,; Zamzami, Rizal

doi:10.55047/cashflow.v1i4.306

Cited by 1 publication

(1 citation statement)

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“…This indicates that a decrease in exchange rates or the appreciation of the Rupiah results in an enhanced performance of equity mutual funds. This phenomenon can be attributed to the fact that a significant portion of companies in Indonesia depend a lot on foreign commodities (imports) so that production costs rise, the level of profit will decrease, and of course it will This contradicts the findings of research by Mochlasin et al, 2023, andZamzami, 2022, which indicate that the exchange rate does not exert a substantial impact on the Net Asset Value (NAV) of Sharia equity mutual funds. The rationale behind this is that Sharia-based stocks are not entirely reliant on the dollar; hence, fluctuations in the value of the Rupiah do not influence them significantly.…”

Section: The Effect Of Rupiah Exchange Rate On the Nav Of Sharia Equi...mentioning

confidence: 89%

Determinants of Net Asset Value of Sharia Equity Mutual Funds in Indonesia

Hazami,

Endri

2024

devotion

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This research aims to analyze the influence of the BI 7 days repo rate, inflation, exchange rate, JKSE, mutual fund size, stock selection skill and market timing ability on the net asset value of sharia equity mutual funds in Indonesia. The research was divided into 3 period results, namely overall (2017-2022), before the Covid-19 pandemic (2017-2019), and during the Covid-19 pandemic (2020-2022). Data processing uses Eviews 12. The method used is the Random Effect Model (REM) with the analysis model using Generalized Least Square (GLS). The results of this research state that over all the BI 7 days repo rate has a significant positive effect, however in the period before the pandemic the effect was significantly negative, whereas during the pandemic there was no effect. Inflation in whole period and when a pandemic has no effect, but in the period before the pandemic it has a significant positive effect. The exchange rate in whole period has a significantly negative effect, but in the period before the pandemic it has a significantly positive effect, whereas during the pandemic it has no effect. The JKSE in whole period has no effect, but in the period before and during the pandemic it had a significant positive influence. Mutual fund size in whole period and during the pandemic has a significant positive effect, but in the period before the pandemic it has no effect, stock selection skill in whole period, in the period before and during the pandemic has a significant positive effect. market timing ability in whole period, in the period before and during the pandemic had a significant positive effect. Differences in results in a period are due to changes in economic conditions in Indonesia.

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Section: The Effect Of Rupiah Exchange Rate On the Nav Of Sharia Equi...mentioning

confidence: 89%