Equity Fund’s Performance Evaluation

DOI

10.2991/iceb-15.2015.15How to use a DOI?

Keywords

Equity Fund, Performance Evaluation, Sharpe Index, Treynor Index, Jensen Index

Abstract

One of the long-term investment’s option is equity fund, since it suitable for the investor who have limited fund, time, and information. In Indonesia, there are 132 products of equity fund that offer many investment alternatives, but in the other hand investors must choose it thrifty based on their investment’s purposes. The purpose of this study was to evaluate the performance of equity fund products that are still active as a reference for investors in the selection of long-term investment. Since the purpose’s for long-term investment, the objects used in this study were 43 equity funds’ products that are still active during the study period from 2009 to 2013. Datas that is used in this study are secondary data based on historical data taken from Net Asset Value (NAV) per unit with monthly sub-period of equity fund, data movement of Jakarta Stock Exchange Composite Index (CSPI), and BI’s rate as risk-free interest rate (risk-free rate). Performance measurement engage risk-adjusted factor by using Sharpe’s index, Treynor ‘s and Jensen’s. The performance’s evaluation resulted that there are only 6.98% of equity fund that measured having outperform the market. Other findings in this case study is that determinats coefficient also playing an important role on determining which index that can be used for investment’s reference

Copyright

© 2015, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Mirza Hedismarlina Yuneline
PY  - 2015/05
DA  - 2015/05
TI  - Equity Fund’s Performance Evaluation
BT  - Proceedings of the International Conference on Economics and Banking 2015
PB  - Atlantis Press
SP  - 100
EP  - 105
SN  - 2352-5428
UR  - https://doi.org/10.2991/iceb-15.2015.15
DO  - 10.2991/iceb-15.2015.15
ID  - Yuneline2015/05
ER  -