PENGARUH INFLASI, UKURAN, DAN UMUR TERHADAP KINERJA REKSA DANA SAHAM DI INDONESIA

Abstract

The development of investment in the capital market has developed in line with industry changes, especially investments in equity funds. This research aims to determine the effect of the inflation variable, the size of the equity fund, and the maturity of the equity fund on the performance variable of the equity fund. The sample was conducted using a purposive sampling technique for equity funds registered in the Financial Services Authority of Indonesia (OJK) for the 2010-2019 period. Based on the sampling criteria, a sample of 37 equity funds was obtained. The sample were analyzed using multiple linear regression analysis. Based on the results, it was concluded that inflation had a significant effect on the performance of equity funds. The size of the equity fund and the maturity of the equity fund do not affect the performance of the equity fund. Based on the results, the Investment Manager as the investors' trusted party for managing their investment funds needs to pay attention to inflation to manage the assets properly. As an investor, it is required to pay attention to the investment policy in the fund fact sheet, prospectus, and strategy of each equity fund in order to make the right decision. Perkembangan investasi di pasar modal sudah berkembang mengikuti perubahan industri terutama berinvestasi pada reksa dana saham. Penelitian ini bertujuan untuk mengetahui pengaruh variabel inflasi, ukuran reksa dana saham, dan umur reksa dana saham terhadap variabel kinerja reksa dana saham. Pengumpulan sampel menggunakan teknik purposive sampling untuk reksa dana saham yang terdaftar di Otoritas Jasa Keuangan periode 2010-2019. Berdasarkan kriteria sampling, diperoleh sampel sebanyak 37 reksa dana saham. Data sampel dianalisis dengan menggunakan analisis regresi linier berganda. Berdasarkan hasil penelitian disimpulkan bahwa inflasi berpengaruh signifikan terhadap kinerja reksa dana. Ukuran reksa dana dan umur reksa dana tidak mempengaruhi kinerja reksa dana saham. Melihat dari hasil penelitian tersebut maka manajer investasi sebagai pihak yang dipercaya oleh para investor dalam mengelola dana investasinya perlu memperhatikan inflasi dalam mengelola aset secara tepat. Sebagai investor perlu memperhatikan kebijakan investasi dalam fund fact sheet, prospectus, dan strategi masing-masing reksa dana saham yang ingin diinvestasikan agar dapat mengambil keputusan yang tepat.