Macroeconomics and Net Asset Value (NAV) on Equity Mutual Funds

Komariah, Siti; Amalia, Shendy; Suhardi, Agatha Rinta

doi:10.37200/ijpr/v24i2/pr200623

Cited by 4 publications

(3 citation statements)

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“…Sebuah fenomena yang dikenal sebagai inflasi terjadi ketika harga suatu barang dan jasa mengalami kenaikan secara berkelanjutan. Kenaikan ini akan berpengaruh pada daya beli masyarakat serta pada biaya operasional perusahaan (Komariah et al, 2020). Tingginya inflasi dapat berakibat adanya depresiasi daya beli uang dan return yang diperoleh investor dari kegiatan investasinya akan berkurang serta tingginya inflasi dapat mengurangi profitabilitas perusahaan, yang membuat efek ekuitas kurang menarik dan menurunkan NAB dan kinerja reksadana (Santi Hariyani et al, 2022).…”

Section: Inflasiunclassified

Determinan Faktor Makroekonomi Terhadap Kinerja Reksadana Syariah Pasar Uang Tahun 2018-2022

Oniek Ragil Puspitasari,

Muhammad Fikri Mahreza,

Siti Amaroh

2023

Iltizamat Journal

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Menguji variabel makroekonomi yang mempengaruhi kinerja melalui Nilai Aktiva Bersih (NAB) reksadana syariah pasar uang di Indonesia periode 2018-2022 menjadi tujuan dari penelitian ini. Penelitian kuantitatif dilakukan dengan memanfaatkan data sekunder melalui website milik Bank Indonesia, BPS, Danareksa, dan Bibit, antara lain informasi inflasi, kurs, BI 7 Days Repo Rate, dan NAB reksadana pasar uang syariah. Digunakan metode purposive sampling guna menentukan sampel pada penelitian ini dengan jumlah sampel sebanyak 10 unit reksadana pasar uang. IBM SPSS Statistics 26 digunakan untuk mendukung teknik analisis data, meliputi pengujian asumsi klasik, regresi linier berganda, serta koefisien determinasi. Temuan penelitian mengemukakan bahwa inflasi memberikan pengaruh terhadap NAB reksadana syariah pasar uang secara positif signifikan, kurs menunjukan pengaruh tidak signifikan terhadap NAB reksadana syariah pasar uang serta BI7DRR secara negatif signifikan memberikan pengaruh terhadap NAB reksadana syariah pasar uang. Temuan penelitian ini akan bermanfaat bagi investor untuk mengetahui bagaimana kondisi kinerja reksadana syariah pasar uang dan menjadi bahan perhitungan kegiatan investasi yang dilakukan khususnya pada reksadana syariah pasar uang.

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Section: Inflasiunclassified

Determinan Faktor Makroekonomi Terhadap Kinerja Reksadana Syariah Pasar Uang Tahun 2018-2022

Oniek Ragil Puspitasari,

Muhammad Fikri Mahreza,

Siti Amaroh

2023

Iltizamat Journal

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“…We used a novel timeseries analytical approach i.e. Vector Error Correction Model (Gomes & Paz, 2013;Komariah et al, 2020) to estimate the magnitude of macroeconomics effects to Islamic mutual funds in Indonesia.…”

Section: Figure 1 Growth In Sharia Mutual Funds Amount and Nav In Indonesiamentioning

confidence: 99%

The effect of macroeconomics variables to Net Asset Value (NAV) growth of sharia mutual funds in Indonesia

Ardhani

Effendi

Irfany

2020

JEKI

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Purpose -This study aims to perform the short-term and long-term relationships between net asset value of Islamic mutual funds within macroeconomic variables, to analyze responses towards the economic shock, and to analyze the composition of the net asset value of Islamic mutual funds within selected macroeconomic variables.Methodology -Monthly data over the 2015-2019 period were analyzed using the Vector Error Correction Model (VECM), impulse response test, and variance decomposition test.Findings -The results show that inflation, money supply, and gross domestic products had a positive and significant effect on the net asset value of Islamic mutual funds, on the other hand, the rupiah exchange rate had a negative thus insignificant effect on the net asset value of Islamic mutual funds.Research limitation/implication -The main limitation of this research is the lack of a variable that represents the Islamicity index, which can differentiate the driven factors of FDI in Muslim and non-Muslim organization countries.Practical implication -This study suggests that the society and the government should collaborate to maintain the stability of the rupiah exchange rate by buying domestic products, strengthening the real sector.Originality -Here we provide an update data of macroeconomics variables dynamics (e.g. GDP, inflation, exchange rate, and money supply) and its implication to Islamic mutual funds -i.e. net asset value over 2015-2019. We used a novel timeseries analytical approach (VECM) to estimate the magnitude of macroeconomics effects to Islamic mutual funds in Indonesia.

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“…It equals the per unit market value of the fund's assets minus its liability. The increase in NAV indicates that the investment value of shareholders per unit of investment is increasing, while if there is a decrease in NAV it means that the investment value of shareholders per unit of participation decreases (Komariah, Amalia, & Suhardi, 2020). Performance indicators of the mutual funds are performance persistence, turnover, expense ratio, asset size, load fee, investment style, mutual fund managers and the ownership style of the mutual funds (Goel, Mani, & Sharma, 2012).…”

Section: Introductionmentioning

confidence: 99%

Net Assets Value and its Determinants of Mutual Funds in Nepal: An Analysis of Monthly Returns

2023

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The research work has been conducted to examine the impact of age, total expense, total investment, and turnover ratio on financial performance of mutual funds in Nepal. Out of 29 mutual funds reported by Nepal Stock Exchange Ltd (as on 15 January, 2022), a total of 10 mutual funds following judgmental sampling technique have been selected as sample of the study. Samples are selected with the objective of getting 32 months data (from 12-Feb 2019 to 16-Sep 2021) resulted 320 observations. The required balanced panel data have been extracted from the monthly reports published on respective websites. Based on the regression result, it has been found that the age, total investment and turnover ratio have significant positive impact on net asset value but the magnitude of turnover ratio is negligible. However, impact of total expense on net asset value is positive but not found significant. The result can give mutual fund managers an insight on improving funds performance. On the other hand, the result can be helpful to investors in deciding their investment on mutual funds. Analysis with adding more variables will be beneficial in increasing the generalizability of the findings.

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Macroeconomics and Net Asset Value (NAV) on Equity Mutual Funds

Cited by 4 publications

References 0 publications

Determinan Faktor Makroekonomi Terhadap Kinerja Reksadana Syariah Pasar Uang Tahun 2018-2022

Determinan Faktor Makroekonomi Terhadap Kinerja Reksadana Syariah Pasar Uang Tahun 2018-2022

The effect of macroeconomics variables to Net Asset Value (NAV) growth of sharia mutual funds in Indonesia

Net Assets Value and its Determinants of Mutual Funds in Nepal: An Analysis of Monthly Returns

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