Macroeconomics and Net Asset Value (NAV) on Equity Mutual Funds

11Siti Komariah, 2Shendy Amalia, 3Agatha Rinta Suhardi

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Abstract:

The number of equity mutual funds in Indonesia continues to grow. The increase in the number of equity mutual funds pushed the net asset value (NAV) up 7.9 percent from the end of 2017. However, the development of the number of equity mutual funds was not followed by an increase in Net Asset Value per Participation Unit (NAB / UP). During the first semester of 2017 the equity mutual fund industry's performance showed a downward trend. The purpose of this study was to determine the effect of the Composite Stock Price Index (IHSG), Inflation, Interest Rates and Exchange Rates on Net Asset Value Per Unit Participation in Equity Mutual Funds in Indonesia in 2013-2017. This research sample consisted of 70 equity mutual funds that were actively traded during the study period which were taken using Purposive Sampling. The research method used is the description of analysis using multiple linear regression. Based on data processing, the results are obtained that only the exchange rate has an influence on the Price of Equity Mutual Funds, while the IHSG (NAB / UP), Inflation and Interest Rates have no effect on the Price of Equity Mutual Funds.

Keywords:

Macroeconomics, Net Asset Value, Equity Mutual Funds.

Paper Details
Month2
Year2020
Volume24
IssueIssue 2
Pages3164-3172