Performance and Characteristics of Indonesian Mutual Funds

• Main Authors: Benny Tahir, 周善良
• Other Authors: Su, Jyh-Tay
• Format: Others
• Language: en_US
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/59437980246318155827

碩士 === 南台科技大學 === 企業管理系 === 98 === In recent years, there is indication that the trust of investors to capital markets is recovering and it could raise investment in mutual fund. The return of a fund is generally perceivable, but the proportion of which fund characteristics affects fund performance may not be observable to most of the investors. Along the increasing popularity of mutual fund, the details about how fund characteristics impact fund performance become more substantial for investors on deciding which fund to be invested. This research examines how mutual fund’s characteristics influencing its performance using correlation and regression analysis. The data in this study is made up of 50 Indonesian mutual funds from 2004 until 2009. The performances of the mutual funds are measured using Jensen alpha, Sharpe ratio, and Treynor ratio. The results show that the attributes which have some impact on mutual fund performance are risk, expense ratio, management tenure, fund size, and fund objective.