Karakteristik Manajer Investasi dan Kinerja Reksadana Saham : Efek Pandemi COVID-19

Abstract

Kinerja reksa dana menjadi salah satu faktor utama para investor untuk berinvestasi pada produk reksa dana. Investor biasanya tertarik pada reksa dana yang kinerjanya baik, sehingga dapat menguntungkan para investor. Penelitian ini bertujuan menguji pengaruh dari pengalaman, kepemilikan, tata kelola dan ukuran manajer investasi terhadap kinerja reksa dana saham. Pada penelitian ini menggunakan data sekunder yang didapatkan dari beberapa web resmi dan menggunakan beberapa pengukuran kinerja reksa dana seperti, Sharpe Ratio, Treynor Ratio, Jensen Alpha, Sortino Ratio, Information Ratio (IR), dan M-square Measure (M2 ). Hasil yang didapatkan dari pengolahan data menunjukkan bahwa tata kelola manajer investasi berpengaruh terhadap kinerja reksa dana saham pada saat COVID-19. Sedangkan, pengalaman, kepemilikan, dan ukuran manajer investasi tidak berpengaruh terhadap kinerja reksa dana saham. Berdasarkan hal ini, maka bisa dikatakan bahwa lama-pendeknya pengalaman (umur) sebuah Manajer Investasi, besar-kecilnya risk management nilai AUM tidak mempengaruhi kinerja dari reksa dana saham tersebut.

Fund performance is one of the main factors for mutual fund investors to invest in mutual fund products. Therefore, investors are usually attracted to mutual funds that perform well so that they can benefit investors. This study aims to examine the effect of experience, ownership, governance and size of investment managers on the performance of equity mutual funds. This study uses secondary data obtained from several official websites and uses mutual fund performance measurements such as Sharpe Ratio, Treynor Ratio, Jensen Alpha, Sortino Ratio, Information Ratio (IR), and M-square Measure (M2). The results obtained from data processing show that investment manager governance affects the performance of equity mutual funds during COVID-19. Meanwhile, the experience, ownership, and size of the investment manager do not affect the mutual fund's performance. Based on this, it can be said that the length of experience (age) of an Investment Manager, the size of the risk management of the AUM value does not affect the performance of the stock mutual fund.