Analysis of Conventional Mutual Fund and Sharia Mutual Fund Performance for Investor’s Investment Decision

Abstract

The development of Sharia Mutual Funds in Indonesia from 2003 to date figures continue to show a positive and fairly stable. Development of Mutual Funds other than look at its NAB but also reflected an increasein the number of products of Mutual Funds progress sharia As of April 2014 there are 62 types of mutual fund products sharia. The problem of this study is limited to the analysis of the performance of Mutual Funds issued by 3 investment management companies that have a conventional share mutual fund products and sharia share Mutual Funds. Limitation of the scope of this study is to select the best performance of Mutual Funds shares products both conventional and sharia with a performance analysis in the period 2011 to 2013.The purpose of this study is to compare the performance of sharia mutual funds with  conventional mutual funds, so that it can be known that Mutual Funds are most optimal in performance and level of return.Samples are taken by purposive sampling, with the following criteria: (1) Mutual Fund shares, (2) Sharia mutual funds shares and conventional mutual fund shares which are products of the Investment Manager Company, (3) performance data taken from the period January 2011 to 2013.This study was conducted by using the data analysis and the research variable is performance data of each Fund with the performance measurement methods: (1) Treynor method, (2)Sharpe method, (3) Jensen method. Then from the result, it is obtained by comparing the performance with statistical tests (two different test average).The results of this study indicate that sharia mutual fund shares has a better performance than conventional mutual fund shares. Based on statistical tests it was concluded that there was no significant difference between the performance of sharia mutual fund shares and conventional mutual fund shares during 2011-2013. However, the study  shows that the performance of sharia mutual fund shares are worthy bought by potential investors, because its performance tends to be better than the performance of conventional mutual fund shares.