i ABSTRAK
PENGARUHMARKET TIMING ABILITYDANSTOCK SELECTION SKILLTERHADAP KINERJA REKSA DANA SAHAM
Penelitian ini bertujuan untuk menganalisis pengaruh market timing ability dan stock selection skill terhadap kinerja reksa dana saham. Populasi dalam penelitian ini adalah seluruh produk reksa dana saham yang terdaftar di periode 2010 sampai 2014 yang berjumlah 164 produk reksa dana dengan sampel berjumlah 34 produk reksa dana saham. Penelitian ini menggunakan analisis regresi linear berganda. Data dalam penelitian ini diperoleh dari laporan Nilai Aktiva Bersih (NAB) yang tersedia di Bapepam, data Suku Bunga Indonesia (SBI) yang tersedia di Bank Indonesia serta nilai Indeks IHSG yang tersedia di finance.yahoo.com. Hasil penelitian menunjukkan bahwa market timing ability berpengaruh negatif dan signifikan terhadap Kinerja Reksa Dana Saham periode 2010-2014. Sedangkan Stock Selection Skill berpengaruh negatif dan tidak signifikan terhadap Kinerja Reksa Dana Saham periode 2010-2014.
ABSTRACT
IFLUENCE OF MARKET TIMING ABILITY AND STOCK SELECTION SKILL ON EQUITY MUTUAL FUND S
PERFORMANCE.
This research was conducted to analyze the influence of market timing ability and stock selection skill on equity mutual fund s performance. The population of this study was equity mutual fund s product listed on BAPEPAM. There is 164 equity mutual fund s product around 2010 to 2014 with 34 samples. The method of this study is multiple-regression linear. The input of the research was acquired from BAPEPAM for Net Asset Value, Indonesian Central bank for BI rate and Jakarta Composite Index value from finance.yahoo.com. The result of the study shows that market timing ability has negative and significant influence toward equity mutual fund s performance around 2010 to 2014. And, stock selection skill has negative and insignificant influence toward equity of mutual fund s performance around 2010 to 2014.
