The impact of financial and economic factors on Islamic mutual fund performance: Evidence from multiple fund categories

Uddin, Gazi Salah; Hernández, José Arreola; Labidi, Chiraz; Troster, Victor; Yoon, Seong‐Min

doi:10.1016/j.mulfin.2019.100607

Cited by 7 publications

(3 citation statements)

References 35 publications

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“…Hence, we do not expect any significant variance to our results from cross-country investments. Although Hoepner et al (2011) and ( Uddin et al, 2019 ) indicated that Islamic funds prefer to invest globally, we believe that this could be true for the funds domiciled in a location where there are limited Sharia-compliant options. As our sample is specifically from the countries where Islamic finance is very significant, the funds may not need to diversify across borders and incur additional transactional costs.…”

Section: Data and Research Methodologymentioning

confidence: 80%

The resilience of Islamic equity funds during COVID-19: Evidence from risk adjusted performance, investment styles and volatility timing

Mirza

Rizvi

Saba

et al. 2022

International Review of Economics & Finance

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This paper analyses the risk-adjusted performance of Islamic and conventional equity funds during the COVID-19 pandemic. We show that Islamic equity funds demonstrated differentials in risk-adjusted performance, investment styles, and volatility timing compared to their conventional counterparts. Specifically, the results revealed that Islamic equity funds are more resilient to COVID-19 shock since they outperformed non-Islamic peers during the peak months of the pandemic. The trend continues even when the spread smoothens. These findings confirm the safe-haven properties of Islamic equity funds, which is helpful for investors aiming to hedge pandemic risks. The style analysis reveals investment drift from riskier styles to more prudent options in response to each stage's uncertainties. The results suggest policymakers should further investigate Islamic financial assets and their underlying principles to improve the resilience of economic systems in any future black swan events.

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Section: Data and Research Methodologymentioning

confidence: 80%

The resilience of Islamic equity funds during COVID-19: Evidence from risk adjusted performance, investment styles and volatility timing

Mirza

Rizvi

Saba

et al. 2022

International Review of Economics & Finance

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“…Fourth, despite extensive research on SCF fund manager skills in the literature (Hammami & Oueslati, 2017; Khan et al, 2020; Mirza et al, 2022; Uddin et al, 2019; Zouaoui, 2019), there is relatively little information about how various skills dimensions of SCF fund managers are related causally. A fund manager may be more of a stock picker in one market condition than a market timer in another (Bollen & Busse, 2005).…”

Section: Introductionmentioning

confidence: 99%

Persistence of multidimensional time‐varying skills of fund managers: A comparison of conventional and Islamic equity funds

Nabi,

ur Rehman,

Ali

et al. 2023

Manage Decis Econ

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This comparative study investigates the time‐varying skills of Shariah‐Compliant and conventional equity fund managers in selectivity, volatility, market return, liquidity, and higher‐order of Multidimensional Time‐Varying Skills of Fund Managers: A Comparison of Conventional and Islamic Equity Fundsco‐moments. Additionally, it examines the persistence and causal relationships among these timing abilities. The analysis utilizes equity mutual funds data from January 2010 to June 2022, encompassing three major Islamic countries: Saudi Arabia, Malaysia, and Pakistan, representing over 80% of the Islamic funds market. Employing diverse time‐varying techniques, this study reveals the presence of selectivity, volatility, and co‐skewness timing skills while detecting the absence of a market, liquidity, and co‐kurtosis timing abilities among conventional and Islamic fund managers.

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“…The role of the Arabic language in promoting Islamic economic progress has been recognized (Ghlamallah et al, 2021). It has been identified as the most spoken language in the world (Uddin et al, 2019). One of the Arabic-speaking countries that have many dialects is Yemen.…”

Section: Introductionmentioning

confidence: 99%

Modern Standard Arabic and Yemeni Arabic Cognate: A Contrastive Study

Suparno

Azwar

Al-Rawafi

et al. 2022

lkw

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This study aims to investigate identical word pairs, word couples that have a phonemic correspondence, and the sound shift in phonological differences, sound variation, sound addition, and lenition. The study uses empirical data collected from 2 Yemeni college students who studied in Indonesia. Two hundred seven of Swadesh's basic vocabulary was used as the standard procedure for collecting data. The results indicated the relationship between form and meaning as a whole, a different pattern. Specifically, the three dimensions - cognate, phonemic correspondence, and a pair of words contain a different pattern, sound-change, phonological, and morpheme contrast in Modern Arabic Standard, Sana’a Yemeni Arabic (YEMS), Dhamar Yemeni Arabic (YEMD). The other sound change in the form of metathesis exposes that there are six rules: five kinds of word syllable systems and dissimilation, three forms of sound addition, and four types of sound loss. This study focuses on sound correspondence in three Arabic languages that influence more variations of Arabic. MSA, YEMS, and YEMD represent a case where two distinct language varieties exist in Yemen. It is anticipated that the findings of this study will help college students and lecturers to understand a phenomenon in Arabic-speaking communities and the significant impact it has on arranging Arabic teaching materials. The value of this research work is evident from the fact that the Arabic language teaching model has neglected the teaching of Arabic variation even though they are essential.

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The impact of financial and economic factors on Islamic mutual fund performance: Evidence from multiple fund categories

Cited by 7 publications

References 35 publications

The resilience of Islamic equity funds during COVID-19: Evidence from risk adjusted performance, investment styles and volatility timing

The resilience of Islamic equity funds during COVID-19: Evidence from risk adjusted performance, investment styles and volatility timing

Persistence of multidimensional time‐varying skills of fund managers: A comparison of conventional and Islamic equity funds

Modern Standard Arabic and Yemeni Arabic Cognate: A Contrastive Study

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