The performance of unit trust fund in Malaysia / Nur Nadhirah Sabar
This paper is to identify the performance of unit trust funds in relation to the return on investment and the risk free rate of the portfolio. According to the earlier studies shows that unit trust do not outperform the market as well as the manager‟s ability to beat the market (Sharpe, 1996;...
| Main Author: | |
|---|---|
| Format: | Student Project |
| Language: | English |
| Published: |
Faculty of Business Management
2017
|
| Subjects: | |
| Online Access: | http://ir.uitm.edu.my/id/eprint/22269/ http://ir.uitm.edu.my/id/eprint/22269/1/PPb_NUR%20NADHIRAH%20SABAR%20J%20BM16_5.pdf |
| Summary: | This paper is to identify the performance of unit trust funds in relation to the return on
investment and the risk free rate of the portfolio. According to the earlier studies
shows that unit trust do not outperform the market as well as the manager‟s ability to
beat the market (Sharpe, 1996; Jensen 1968; Firth, 1977). Thus, the evidence shows
indirectly that the market is strangely efficient and yet the studying of past stock
prices still not supporting in the prediction of future price movements. The objective
of this study is to examine the performance measure of return in unit trust funds in
relation to the market return and to determine the factors affecting the performance
return of unit trust funds for investor‟s decision making process. Furthermore the
research paper will be using market price as net assets value as dependent variable
and the independent variables is the performance return measure as Treynor Ratio,
Jensen‟s Alpha and Sharpe Ratio as a model to measure the performance. This
research study more focused on using the secondary data collected by using
Fundsupermart, Morningstar, Finance Yahoo, Bursa Malaysia and Federation of
Investment Managers Malaysia (FiMM). The study is conducted starting from the
period of 2013 until 2015 on monthly basis. There are four companies selected in this
study which are Cimb Berhad, Eastspring Investment, RHB Bank Berhad and Affin
Hwang Investment Bank Berhad. Based on the four companies there are eight unit
trust funda are selected. Besides that, Statistical method will be used in this study by
using panel least square to test the relationship between the dependent variable and
independent variables. Thus, descriptive analysis, unit root test, regressions analysis
and heteroskedasticity – white test were used in the analysis. By using E-views
program the data can be easily analyze for the interpretation of results. |
|---|