DETERMINAN CASH INFLOW REKSA DANA SAHAM (Periode 2010 – 2014)

Abstract

In Indonesia, equity funds have nearly fourfold growth over the period 2006 to 2014 with the greatest net asset value (NAV) among all types of mutual funds. NAV at the end of 2014 was 105.45 trillion rupiahs with an increase of 2.9 times from 2006 to 2014. This study aims to determine the determinants of cash inflow which is an indication of investors in choosing mutual funds that can be influenced in six factors namely size, expense ratio, age, rating, return and incentives of investment managers that serve as independent variables. The population in this research is active mutual fund as much as 15 equity fund product with minimum 5 years old. The analytical tools used in this research are t test and f test and complete before with classical assumption test. The result of this study is the size, age, rating and incentives of investment managers received by giving a significant influence on cash inflow. The variable return and expense ratio are rejected which states that those variables have no significant effect on cash inflow. Indication of return and expense ratio may indicate that investors do not see as a signal in choosing mutual fund products.