creators_name: 0611011043, Aria Aldini
type: article
datestamp: 2016-01-15 02:41:45
lastmod: 2016-01-15 02:41:45
metadata_visibility: show
title: MARKET TIMING PERFORMANCE MEASUREMENT AND EQUITY FUNDS
INVESTMENT MANAGER SELECTIVITY IN INDONESIA
AT BEARISH CONDITION
ispublished: pub
subjects: General
full_text_status: public
abstract: Abstrak

Capital market as one of the pillars of the economy, which describes the economy of a
country, need to be built and developed. Characteristics of investments in securities of one of
them is easy to set up its investment portfolio.
Today, with the global financial crisis which the market is experiencing bearish conditions, ie
the price of stocks or other investment instruments has decreased very drastic in stock prices
in BEI directly impact the value of portfolio equity funds.
Thus, the ability of investment managers posted positive returns during the global financial
crisis depends on the expertise of investment managers, namely expertise in terms of
selectivity and market timing of investment instruments.
Problems that would like raised in this study are:
"Is the equity fund investment manager in Indonesia have the ability to measure time in the
market (market timing) and selecting (selectivity) good securities during bearish conditions?"
The objective of this study was to measure the ability of investment managers in Indonesia in
the bearish period, during July to December 2008.
This study tested the ability of selectivity and market timing of mutual fund shares are
actively traded in the period July to December 2008 using computer models of TreynorMazuy. Based on the estimated average value of α in the period of this study, showed that
managers investment have the selectivity ability which can't increase return of equity funds
and exchange-value estimate of a positive β2 (β2> 0), this implies the existence of market
timing ability of well investment managers that is equal to 10,218.
date: 2012-01-14
date_type: published
publication: Digital Library
refereed: TRUE
citation:   0611011043, Aria Aldini  (2012) MARKET TIMING PERFORMANCE MEASUREMENT AND EQUITY FUNDS INVESTMENT MANAGER SELECTIVITY IN INDONESIA AT BEARISH CONDITION.  Digital Library.       
document_url: http://digilib.unila.ac.id/17551/1/abstrak.pdf