University of Tehran Press Interdisciplinary Journal of Management Studies 2981-0795 12 4 2019 11 01 Factors Affecting the Performance of Sharia Equity Funds in Indonesia عوامل موثر بر عملکرد صندوق های سهام شریعت در اندونزی 481 508 71509 10.22059/ijms.2019.263411.673253 EN Chandra Setiawan Faculty of Business, President University, Jawa Barat, Indonesia 0000-0001-8778-671X Ni Putu Kanila Wati Faculty of Business, President University, Jawa Barat, Indonesia Journal Article 2018 09 28 By the end of 2018, the net asset value in total and the number of Sharia mutual funds in Indonesia is dominated by the Sharia equity fund. Therefore, this study sought to address the factors of internal and external factors affecting the Sharia equity funds’ performance in Indonesia in the period 2010-2018. The fund performance is measured with the Sharpe ratio. The determinants of fund performance are investment manager’s Stock selection skill, Market timing ability, and Percentage change in asset under management as internal factors. In addition, the selected external factors are Inflation rate and Percentage change in exchange rate. This study adopted panel data analysis using secondary data of 8 selected samples of Sharia equity funds. The results revealed that investment manager’s Stock selection skill, Percentage change in asset under management, and Inflation rate positively and significantly affect performance of Sharia equity funds. On the other hand, investment manager’s Market timing ability insignificantly affects Sharia equity fund performance. While, Percentage change in exchange rate negatively and significantly affects Sharia Equity Funds Performance. Sharpe ratio Stock selection skill Market timing ability Inflation rate Exchange rate https://ijms.ut.ac.ir/article_71509_b6ad36c7ed1f208f9e8cb11da322e2db.pdf