Stock Selection and Market Ability Analysis Timing Of Investment Manager In Equity Mutual Fund Sharia In Indonesia
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Abstract
ABSTRACT:
The purpose of this study was to determine the ability of investment managers in stock selection and stock purchase decisionsin Islami equity mutual funds in Indonesia for the period 2014-2017. The populati on in this study isall share Islamic mutual funds that are actively tradedin the period 2014-2017. The sample in this study were 15 Islamic equity mutual fund swhich wereselected with certain criteri ausing the purposive sampling method.The data in this study is quantitative data. The data source in this study is a secondary source obtained from the daily net asset value report published from the Financial Services Authority for the period2014-2017.Data collection techniques using documentation techniques.The data analysis method used the classicalas sumption test and multiplere gressionan alysisof the Henriksson Merton model.The results show that investment managers of Islamic equity mutual funds in Indonesia have the ability to choose stocks as evidenced by 13 of the 15 Islamic stock mutual funds that have a positive , but in the ability to make decisions when buy ing shares,its hows that all Islamic stock mutual funds have apositive.which has a negative 2, in other words, investment managers of Islamic equity mutual funds in Indonesia do not have market timing capabilities.
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References
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