PENGARUH NET ASSET VALUE TERHADAP PENJUALAN REKSADANA SYARIAH PT TRIM MEGA SYARIAH DI BURSA EFEK INDONESIA CABANG MEDAN TAHUN 2015-2019

Abstract

This study aims to determine the effect of inflation and the composite stock price index on the net asset value of Islamic mutual funds. In addition, this study also aims to determine the effect of the rupiah exchange rate in moderating the relationship between inflation and the composite stock price index on the net asset value of Islamic mutual funds. The object of research in this study are all sharia mutual fund companies registered with the Financial Services Authority during the 2015-2019 period which opened 181 companies. The type of research used in this study is quantitative research, where the sampling method in this study was carried out using purposive sampling method. The sample in this study is the net asset value of Islamic mutual fund companies, inflation, the rupiah exchange rate at Bank Indonesia for the period, and the JCI on the Indonesia Stock Exchange for the period 2011 to 2017 so that the number of samples. Methods of data analysis using multiple regression and moderating regression analysis using the residual test. The results of this study indicate that inflation has a negative and insignificant effect, and the JCI has a positive and significant effect on the net asset value of Islamic mutual funds. In addition, the rupiah exchange rate variable which acts as a moderating variable can be seen to moderate the relationship between inflation and the net asset value of sharia mutual funds. As for the composite stock price index variable, the rupiah exchange rate variable can moderate the net asset value of sharia mutual funds.