<> "The repository administrator has not yet configured an RDF license."^^ . <> . . . "EVALUATING PORTFOLIO PERFORMANCE OF ISLAMIC MUTUAL FUNDS; A STUDY OF DANAREKSA SYARI'AH BERIMBANG, \r\nBATASA SYARI'AH AND PNM SYARI'AH\r\n(From January 2003 Until March 2005)"^^ . "Islamic mutual fund is one of new alternative products, which is more potential in Indonesia. \r\nBecause this product is still \"young\" and full of barriers concerned with the shari'a confom1ity, \r\nit needs more observation in order to be better in the future. Measuring its performance is an \r\nimportant way to evaluate this product. The relevance of the mutual funds as a source of financing \r\nwill depend on the performance of the portfolio managers. In addition, the strength of the mutual \r\nfund industries is based on a record of good results achieved by fund managers. Good performance \r\nattracts new investments, bad performance results in redemption of units. To cover this issue, \r\nusing three Islamic mutual funds (Batasa Syari'ah, PNM Syari'ah and Danareksa Syari'ah Berimbang), \r\nthe author conducts a study to evaluate portfolio of this product from the January 3, 2003 until \r\nMarch 28, 2005.\r\nThe essence of performance evaluation in investment is to compare\r\nthe return obtained from some portfolio with the return that could have been obtained from \r\ncomparable alternative. The measurement process must involve a relevant and obtainable alternative \r\ncalled the benchmark portfolio. Benchmark approved by Shari'ah Supervisory Board (DSN) to be \r\nbenchmark of securities investing based on shari'ah is 30 equities included in Jakarta Islamic \r\nIndex (JII). JII is launched by a joint effort of PT. Danareksa Investment Management (PT.DIM) and \r\nJakarta Stock Exchange (JSX). Therefore, in this evaluation, the author applied JII as the \r\nbenchmark.\r\nMeanwhile to measure performance of the portfolio, the author applies two traditional performance \r\nmeasures. First method is the measurement based on comparison of realized return obtained by \r\nportfolio and the benchmark. Second is measurement on the basis of risk adjusted return of Sharpe \r\nRatio, Treynor Ratio, and Jensen's Alpha.\r\nComparing return obtained from portfolio of Islamic funds and return obtained from the benchmark \r\n(JII), performance of Islamic mutual funds underperformed that of the benchmark. Nonetheless, its \r\ntotal risk notated by standard deviation is lower than that of the benchmark. This is evidence that \r\nthe higher return, the higher risk.\r\nIn contrast, involving risk adjusted return of Sharpe Ratio, Treynor Ratio, and Jensen's Alpha, \r\nIslamic funds are outperformed performance of\r\nJII. Using Sharpe and Treynor Ratio, three Islamic mutual funds can be\r\nranked. The best of all is performance of Batasa Syari'ah (BASA). The second position is settled by \r\nportfolio of PNM Syari'ah (PNMS). And Danareksa Syari'ah Berimbang is in the third performance of \r\nall. However, Islamic mutual funds beat the benchmark (JII) during the period of measurement. The \r\nsimilar rankings indicate that portfolio of Islamic funds are well-diversified."^^ . "2005-12-02" . . . . "UIN SUNAN KAIJAGA"^^ . . . "FAKULTAS SYARIAH DAN HUKUM, UIN SUNAN KAIJAGA"^^ . . . . . . . . . "NIM:01390740"^^ . "MUZLIFATUL AZIZAH"^^ . "NIM:01390740 MUZLIFATUL AZIZAH"^^ . . . . . . "EVALUATING PORTFOLIO PERFORMANCE OF ISLAMIC MUTUAL FUNDS; A STUDY OF DANAREKSA SYARI'AH BERIMBANG, \r\nBATASA SYARI'AH AND PNM SYARI'AH\r\n(From January 2003 Until March 2005) (Text)"^^ . . . . . "BAB I, V, DP.pdf"^^ . . . "EVALUATING PORTFOLIO PERFORMANCE OF ISLAMIC MUTUAL FUNDS; A STUDY OF DANAREKSA SYARI'AH BERIMBANG, \r\nBATASA SYARI'AH AND PNM SYARI'AH\r\n(From January 2003 Until March 2005) (Text)"^^ . . . . . "EVALUATING PORTFOLIO PERFORMANCE OF ISLAMIC MUTUAL FUNDS; A STUDY OF DANAREKSA SYARI'AH BERIMBANG, \r\nBATASA SYARI'AH AND PNM SYARI'AH\r\n(From January 2003 Until March 2005) (Other)"^^ . . . . . . "EVALUATING PORTFOLIO PERFORMANCE OF ISLAMIC MUTUAL FUNDS; A STUDY OF DANAREKSA SYARI'AH BERIMBANG, \r\nBATASA SYARI'AH AND PNM SYARI'AH\r\n(From January 2003 Until March 2005) (Other)"^^ . . . . . . "EVALUATING PORTFOLIO PERFORMANCE OF ISLAMIC MUTUAL FUNDS; A STUDY OF DANAREKSA SYARI'AH BERIMBANG, \r\nBATASA SYARI'AH AND PNM SYARI'AH\r\n(From January 2003 Until March 2005) (Other)"^^ . . . . . . "EVALUATING PORTFOLIO PERFORMANCE OF ISLAMIC MUTUAL FUNDS; A STUDY OF DANAREKSA SYARI'AH BERIMBANG, \r\nBATASA SYARI'AH AND PNM SYARI'AH\r\n(From January 2003 Until March 2005) (Other)"^^ . . . . . . "EVALUATING PORTFOLIO PERFORMANCE OF ISLAMIC MUTUAL FUNDS; A STUDY OF DANAREKSA SYARI'AH BERIMBANG, \r\nBATASA SYARI'AH AND PNM SYARI'AH\r\n(From January 2003 Until March 2005) (Other)"^^ . . . . . . "lightbox.jpg"^^ . . . "EVALUATING PORTFOLIO PERFORMANCE OF ISLAMIC MUTUAL FUNDS; A STUDY OF DANAREKSA SYARI'AH BERIMBANG, \r\nBATASA SYARI'AH AND PNM SYARI'AH\r\n(From January 2003 Until March 2005) (Other)"^^ . . . . . . "preview.jpg"^^ . . . "EVALUATING PORTFOLIO PERFORMANCE OF ISLAMIC MUTUAL FUNDS; A STUDY OF DANAREKSA SYARI'AH BERIMBANG, \r\nBATASA SYARI'AH AND PNM SYARI'AH\r\n(From January 2003 Until March 2005) (Other)"^^ . . . . . . "medium.jpg"^^ . . . "EVALUATING PORTFOLIO PERFORMANCE OF ISLAMIC MUTUAL FUNDS; A STUDY OF DANAREKSA SYARI'AH BERIMBANG, \r\nBATASA SYARI'AH AND PNM SYARI'AH\r\n(From January 2003 Until March 2005) (Other)"^^ . . . . . . "small.jpg"^^ . . 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