Influence of Indonesia Exchange Rate, Inflation and Bank Indonesia Sharia Certificates on Net Asset Value of Sharia Mixed Mutual Funds in Indonesia

Tresna Mutiara, Suryana Suryana, Suci Aprilliani Utami

2017

Abstract

Sharia Mutual Fund is the first sharia investment instrument in Indonesia on 1996 by Danareksa company, then there is a sharia mixed mutual funds whose performance is seen from Net Asset Value (NAV) issued by the Financial Services Authority (OJK). Net Asset Value of Sharia Mutual Funds has reached 16,204.97 Billion, the achievement is quite good. However, it is still smaller than the achievements made by conventional mutual funds that amounted to 340,186.39 billion. This study aims to examine the effect of macroeconomic variables which are Indonesia Rupiah Exchange Rate, Inflation and Bank Indonesia Sharia Certificates (SBIS) against NAV Sharia Mutual Funds. This research uses quantitative approach by using pooled data from January 2013 until February 2017. Data analysis technique used is pooled data regression analysis. The result of this research concludes Indonesia exchange rate has a significant negative effect on NAV of sharia mixed mutual fund, Inflation has positive significant effect to NAV of sharia mixed mutual fund and SBIS has a significant positive effect on NAV of sharia mixed mutual fund. The implication of this study that if the exchange rate rises or in the sense of depreciated rupiah, then the influence is very significant to Sharia Mixed Mutual Funds NAV.

Paper Citation

in Harvard Style

Mutiara T., Suryana S. and Utami S. (2017). Influence of Indonesia Exchange Rate, Inflation and Bank Indonesia Sharia Certificates on Net Asset Value of Sharia Mixed Mutual Funds in Indonesia.In 1st International Conference on Islamic Economics, Business, and Philanthropy - Volume 1: ICIEBP, ISBN 978-989-758-315-5, pages 78-82. DOI: 10.5220/0007077100780082

in Bibtex Style

@conference{iciebp17,
author={Tresna Mutiara and Suryana Suryana and Suci Aprilliani Utami},
title={Influence of Indonesia Exchange Rate, Inflation and Bank Indonesia Sharia Certificates on Net Asset Value of Sharia Mixed Mutual Funds in Indonesia},
booktitle={1st International Conference on Islamic Economics, Business, and Philanthropy - Volume 1: ICIEBP,},
year={2017},
pages={78-82},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0007077100780082},
isbn={978-989-758-315-5},
}

in EndNote Style

TY - CONF

JO - 1st International Conference on Islamic Economics, Business, and Philanthropy - Volume 1: ICIEBP,
TI - Influence of Indonesia Exchange Rate, Inflation and Bank Indonesia Sharia Certificates on Net Asset Value of Sharia Mixed Mutual Funds in Indonesia
SN - 978-989-758-315-5
AU - Mutiara T.
AU - Suryana S.
AU - Utami S.
PY - 2017
SP - 78
EP - 82
DO - 10.5220/0007077100780082