#TITLE_ALTERNATIVE#

• Main Author: FAJAR SUSETYO (NIM 19005084), MAHAYUHADI
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/10834
• Institution: Institut Teknologi Bandung

Business activities in Indonesia are now undergone a new concept of trend which is Islmaic law based business or more popular with the terms syariah. Various products and services offered by this Islamic concept creates new possibilities for investors, for instance, syariah mutual fund. In this research, writer will compare the performance resulted from syariah mutual fund and conventional mutual fund.<p> <br /> <br /> There are som basic differences between conventional mutual fund and syariah mutual fund. First, the index that used as benchmark to calculate mutual fund erformance, whereas conventional mutual fund uses Jakarta Composite Index (IHSG), while syariah mutual fund used index called Jakarta Islamic Index (JII). On the other hand, conventional mutual fund syariah mutual fund also influenced by the interest rate. The intereset rate that used as the benchmark for those mutual fund also have different value. Conventional mutaul fund is influenced by Bank of Infdonesia rate (BI rate), while syariah mutual fund is influenced by certificate wadiah Bank of Indonesia (SWBI rate). For information, the value of BI rate is relatively higher compare to SWBI rate caused by several restricted components under Islamic law.<p> <br /> <br /> In this research, three methods will be used to identify and valuate the performance of these two types of mutual fund. Methods that will be applied are Sharpe Index measurement, Treynor Index measurement, Jensen-Alpha Index measurement. Ten mutual fund will be taken as research samples, with the composition of five conventional mutual fund and five syariah mutual fund. Analysis performed will also related with trends that happen in this two types of mutual fund, connnected with Indonesian economic factor and other influencing factors as well. From the data analysis, three conclusions can be drawned based on this three applied methods, whereas each methods will possibly contribute different results.