文章基本信息

标题：Evaluating Performance of Islamic Mutual Funds in Indonesia and Malaysia
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作者：Miranti Kartika Dewi ; Ilham Reza Ferdian
期刊名称：Journal of Applied Economics and Business Research
电子版ISSN：1927-033X
出版年度：2012
卷号：2
期号：1
页码：11-33
出版社：Journal of Applied Economics and Business Research
摘要：This study measures the performance of Islamic mutual funds in Indonesia and Malaysia, two countries which have growing Islamic Capital Markets. By using 5 measurement tools, namely Sharpe, Treynor and Jensen Indices, as well as Snail Trail Methodology and Market Timing, the study finds that Malaysian Islamic stocks seem to outperform the Indonesian Islamic mutual funds, even in the period of global economic crises. This study also discovers that risk-return relationship of debt Islamic mutual funds is relatively stable as compared with asset allocation and equity Islamic mutual funds. Lastly, this study finds that market timing ability of investment managers of Islamic mutual funds in the two countries cannot increase the funds’ returns as a whole.
关键词：Islamic mutual funds; performance; Sharpe; Treynor; Jensen; Snail Trail; Market Timing