PENGARUH SUKU BUNGA SERTIFIKAT BANK INDONESIA, TINGKAT INFLASI, INDEKS HARGA SAHAM GABUNGAN, DAN BURSA ASING TERHADAP TINGKAT PENGEMBALIAN REKSA DANA SAHAM
ABSTRACT: This study aims to
determine the significant influence of SBI interest rate, inflation rate, stock
price index and foreign exchange (KLSI and HSI) on return of equity mutual
funds of 2008-2012 periods. From the calculation results as follows: 1) SBI
rate , inflation rate, stock price index and foreign stock exchange (KLSI and
HSI) simultaneously has significant effect to rate of return of equity mutual
funds; 2) Generally, SBI, inflation, stock index and foreign exchange can
explain the variation in equity fund return with a range of 21 % to 97.6 %. This
means, SBI interest rate, inflation, stock index and foreign exchange can be
used to estimate the rate of return on equity mutual fund; 3) results of
partial test generated several findings as follows: a) SBI interest rate
significantly influence the rate of return on almost all equity mutual fund; b)
rate of inflation did not significantly influence the rate of return on equity mutual
funds; c) JCI turned out to significantly influence the overall level of equity
fund returns; d) KLSE Composite index has a significant effects of six equity mutual
funds (YPDP, YGSP, YBDS, YPS, YSDPP, and YGDE), while HIS composite index, has
no significant effect on rate of return on equity funds.
Keywords: mutual fund,
emerging market, indonesia stock exchange, kuala lumpur stock exchange,
hangseng
Penulis: Rowland Bismark
Fernando Pasaribu, Dionysia Kowanda
Kode Jurnal: jpmanajemendd140523
