Abstract
Performance Evaluation of Islamic Unit Trust by Adapting Value at Risk: Some Evidence
Highlights
There are almost 2 billion Muslims from 7.6 billion people in the world
Kuala Lumpur Composite Index (KLCI) is the main index of Kuala Lumpur Stock Exchange (KLSE) that composed of the top 30 companies on the Bursa Malaysia Exchange
The objective of this study is to examine the performance of five selected CIMB unit trust funds from the year 2016 to 2019
Summary
There are almost 2 billion Muslims from 7.6 billion people in the world. Due to their religious beliefs, this enormous market of Muslims is actively seeking trusted and certified Halal sources for food, cosmetics, home care, pharmaceuticals and daily products and for investment products (Bakar et al, 2019). One of the most popular products is unit trust funds that comply with Islamic investment principles as revealed in the Quran and Sunnah. This is because unit trust is an affordable avenue for small investors to enjoy a professionally managed investment fund with a reasonable level of diversification, liquidity and risk minimization (Abdullah et al, 2012). Due to the absence of Islamic unit trust funds, this study focuses on Shariah-based funds that depend solely on the equity market to cater the need especially from Muslim investors
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