The Influence of Assets Allocation, Inflation Levels, and Return Jakarta Composite Index (JCI) On Mutual Fund Performance

Abstract

This research is conducted to know the performance of equity fund by using Sharpe Ratio and look for asset allocation relationship, inflation rate and return of JCI to the performance of the mutual fund. The population in this study are all effective stock mutual funds and registered in OJK during the period January 2012 to December 2016. The sample in this study was selected by Purposive Sampling. The population of 236 mutual funds, taken as many as 67 mutual funds that meet the criteria of sampling. This research is correlation research. Analysis method used in this research is panel data regression. The results obtained that the asset allocation policy partially significant effect on the performance of equity funds while the inflation rate and returns JCI partially have no effect on the performance of equity funds. Simultaneous test with F statistic test obtained that asset allocation, inflation rate, and return of JCI together have an effect on to performance of equity fund. Increase/decrease of asset allocation, inflation rate, and JCI's return simultaneously affect the increase/decrease of sharpe ratio of equity fund. However, based on the value of R-square the influence is very small only equal to 1.88 percent, while 98.12 percent of the rest influenced by other factors