文章基本信息

标题：The Investment Performance of Ethical Equity Funds in Malaysia
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作者：Fadillah Mansor ; M. Ishaq Bhatti ; Shafiqur Rahman 等
期刊名称：Journal of Risk and Financial Management
印刷版ISSN：1911-8074
出版年度：2020
卷号：13
期号：9
页码：1-14
DOI：10.3390/jrfm13090219
语种：English
出版社：MDPI, Open Access Journal
摘要：This paper investigates the investment performance of Malaysian Islamic equity funds anda matching sample of conventional equity funds relative to their market benchmark. An integratedmodel is used to simultaneously capture the market timing and selectivity skills of fund managers.Our findings indicate that the Islamic funds do not match the performance of the conventionalfunds in terms of selectivity skill. However, Islamic funds perform no worse than their conventionalcounterparts in market timing, although neither outperform the market. These findings have crucialimplicationsnotonlyforfundmanagers’investmentdecisions,butalsoforsensitiveshariah-compliantinvestors and risk-seeking investors of Islamic equity funds in their investment portfolio preference.
关键词：Islamic finance; Islamic equity funds; market timing; portfolio investment; selectivity skill; investment performance