ANALISIS STOCK SELECTION SKILLS, MARKET TIMING ABILITY, SIZE REKSA DANA, UMUR REKSA DANA DAN EXPENSE RATIO TERHADAP KINERJA REKSA DANA SAHAM YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE TAHUN 2006-2010

Abstract

Mutual fund is an alternative of investment that the oretically provides some advantages: cheap, liquid, easy, managed to professionally, so that it expected to give maximum return and minimum risk for the investor. In an equity mutual funds investment, investor will normally decide on a high return equity mutual funds (could be known from its NAB growing). This research analyst do Stock Selection Skill, Market Timing Ability, Mutual Fund Return, Market return, Size, Age and Expense Ratio can influence the equity mutual funds performance with Sharpe’s measure. We used yearly data of 10 listed mutual fund firm in Jakarta stock exchange that have NAV,risk fee SBI, expense ratio, IHSG, mutual funds’s prospectus from 10 mutual funds periods 2006-2010. As a research methodology, we used F test and t test to examine hipothesis, also used classic test there are normality, heteroskedasticity, multicolinierity, and autocorrelation test to testing sample. The results show that in a simultaneous is known that stock selection skill, market timing ability, size, age and expense ratio significantly affected to the mutual funds performance. Being of the partial test result that stock selection skill and market timing ability have positive and significant effect on mutual funds performance, size have negative and not significant effect on mutual funds performance, age have positive and not significant effect on mutual funds performance, and expense ratio have negative and not significant effect on mutual funds performance.