ANALISIS PENGARUH PAST PERFORMANCE, FUND CASH FLOW, FUND SIZE, FUND LONGEVITY, DAN FAMILY FUND SIZE TERHADAP KINERJA REKSADANA (Studi Kasus: Reksadana Saham Periode Tahun 2009-2013)

Abstract

The growth of mutual fund investments was increased rapidly because the mutual fund is an investment that is profitable and does not require a large capital. Beneficial because mutual funds managed by the investment manager to manage the fund in accordance with its investment objectives. This study was conducted to examine the relationship between the performance of mutual fund shares by five characteristics include past returns, fund cash flow, fund size, fund age, and fund family size. The data used in this study are monthly data NAV, mutual fund cash flow, fund age, and total NAV of 50 mutual fund investment manager shares in the period 2009-2013 with a total number of 193 as many observation data. The method used is the classical assumption by using a normality test, heteroscedasticity, multicollinearity test, autocorrelation test. The method used to test the hypothesis is the F test and T test. The results of this test showed partially past performance and cash flow have a positive significant effect on the performance of mutual funds. While the fund size, fund age, and family size effect is not significant and shows a negative correlation to the beta coefficient. Based on the test results show the value of the coefficient of determination adjusted R square of 0.287 so that the variables in this study may explain the variable performance of mutual funds amounted to 28.7%