The Comparative Analysis of the Performance of Fixed Income Fund of Mandiri Investa Dana Syariah (Midsya) and Fixed Income Fund of Mandiri Investa Dana Utama

Abstract

Mutual fund as an alternative to investment in Indonesia in its development has grown relatively constantly evolving. But in 2013 many Islamic mutual funds were dissolved and this causes a reduction in managed funds, causing less optimal allocation of product or portfolio investments, besides their screening process that limits the product in accordance with the principles of Islam and also this obstacle Islamic mutual fund to get optimum return. The formulation of the problem is as follows: How does the performance of fixed income funds Mandiri Investa Dana Syariah? How is the performance of fixed income funds Mandiri Investa Dana Utama? Is there a difference between the performance of fixed-income Mandiri Investa Dana Syariah funds and fixed income Mandiri Investa Dana Utama fund? The purpose of this study was to determine how the performance of fixed-income fund Mandiri Investa Dana Syariah, knowing how the performance of fixed income funds of Mandiri Investa Dana Utama, determine whether there are differences between the performance of fixed-income fund Mandiri Investa Dana Syariah and fixed income mutual fund Mandiri Investa Dana Utama. The method used in this study is a comparative analysis method. The data engineering was data reports NAV / unit Mandiri Investment Management, the value of JCI shares, and rate of SBI bungs period January 2011 to December 2014. The analysis is qualitative analysis and statistical techniques until the independent t-test to compare Islamic mutual funds and the performance of conventional mutual funds. Based on the results of the study, concluded that the return fixed income fund Sharia return higher than the conventional fixed income funds. Based on calculations using the method of Sharpe conventional mutual funds is higher than the Islamic mutual fund, unlike his thing with the performance by using the method of Treynor and Jensen Islamic mutual funds is higher compared to conventional mutual funds. In addition, the statistical result obtained that there is no significant difference between Sharia fixed income funds and fixed income funds based on the conventional method of Sharpe, Treynor, and Jensen.