Analisis Persistensi Kinerja Reksa Dana di Indonesia Periode 2000-2003 = Persistence Analysis of Performance on Mutuarrunds in Indonesia Period 2000-2003

• Main Author: Perpustakaan UGM, i-lib
• Format: Article NonPeerReviewed
• Published: [Yogyakarta] : Universitas Gadjah Mada 2005
• Subjects: Jurnal i-lib UGM
• Online Access: https://repository.ugm.ac.id/24485/; http://i-lib.ugm.ac.id/jurnal/download.php?dataId=7460
• Institution: Universitas Gadjah Mada

Mutual Funds are managed by investment manager which posses much more knowledge and information than usual investor, so that more profit can be obtained from the market. This research is conducted towards mutual funds share, fixed income and mixed in Indonesia for period January 2000 until December 2003. From this research, it can be reported that not every mutual funds provide positive abnormal return. In fixed income mutual funds, inferiority performance is found and explained by the value of alpha Jensen is negative and significant. Persistence test is done to find out whether there is relation between mutual funds performance in the previous time and in the future, with positive significant result. It means, the previous outperform (undeperform) performance will tend to stay outperform (underperform) in the future. Keywords: mutual funds, abnormal return, persistence.