UIN Sultan Maulana Hasanuddin, Banten - Indonesia
Fakultas Ekonomi dan Bisnis Islam
A Comparative Study: Return and Risk Measurement Gold versus Islamic Mutual Fund
Anita Anita
Srawut Aree
Institute of Asian Studies Chulalongkorn University, Bangkok - Thailand
Institute of Asian Studies Chulalongkorn University, Bangkok
(*) Corresponding Author
DOI : 10.32678/ijei.v13i2.418
This study aims to determine the comparison between the return and risk of metal “gold” investment with the return of Islamic mutual fund during the period 2011 to 2019. The information Using data of gold prices and Net Asset Value (NAV) for the daily period. This study exploits the purposive sampling techniques and obtained 5 islamic mutual fund companies. This research applied an independent t-Test to Compare the return of the two investment instruments by Mann-Whitney. Test and result prove that there are differences at alpha 0,05. It was concluded that "gold" investment provides higher return than Islamic mutual fund but a non-significant difference in risk
Keywords : Return; Risk; Gold; Mutual Fund
- Adhitya Indra Gunawan dan Ni Gusti Putu Wirawati. 2013. “Perbandingan Berinvestasi Antara Logam Mulia Emas Dengan Saham Perusahaan Pertambangan Emas.” E-Jurnal Akuntansi Universitas Udayana 4 (2): 406–20.
- Akin Oyedele. 2018. “‘It Didn’t Produce Anything:’ Warren Buffett Uses $10,000 to Demonstrate Why Buying Gold Is Much Worse than Buying Stocks.” Business Insider, 2018.
- Apriyanti. 2011. Anti Rugi Dengan Berinvestasi Emas. Pustaka Baru Press.
- Basuki Pujoalwanto. 2014. Perekonomian Indonesia. Yogyakarta: Graha Ilmu.
- Darmadji, Tjiptono; dan Hendy M. Fakhruddin. 2001. Pasar Modal Indonesia :Pendekatan Tanya Jawab. Jakarta: Salemba Empat.
- Dea Chadiza Syafina. 2019. “Apakah Harga Emas Masih Berkilau Pada 2019?,” 2019. https://tirto.id/apakah-harga-emas-masih-berkilau-pada-2019-dddk.
- desmond wira. 2015. Memulai Investasi Saham. Kedua.
- Erwin. 2005. “Analisis Perbandingan Investasi Kontrak Berjangka Komoditi Olein Dengan Kontrak Berjangka Komoditi Emas Ditinjau Dari Risiko Dan Tingkat Pengembaliannya (Expected Return).” Universitas Widyatama.
- Hafiyyan Hafiyyan. 2019. “Begini Peluang Investasi Emas 2019.” Market Bisnis, 2019. https://market.bisnis.com/read/20190228/235/894816/begini-peluang-investasi-emas-2019.
- Irham Fahmi. 2013. Manajemen Risiko: Teori, Kasus, Dan Solusi. Bandung: Alfabeta.
- Jogiyanto. 2010. Analisis Dan Desain Sistem Informasi. IV. Yogyakarta: Andi Offset.
- Mita Setyo Arum Ningtyas. 2014. “Pengaruh Harga Minyak Dunia, Harga Emas, Dan Tingkat Inflasi Terhadap Pertumbuhan Ekonomi Indonesia Studi Pada Bank Indonesia Periode Tahun 2003-2012.” Jurnal Administrasi Bisnis 10 (1).
- Nur Ayu Eva Feriyani. 2013. “Analisis Komparasi Invedasi Dinar Dan Investasi Reksadana Pasar Uang Syariah.” Al-Iqtishad 5 (2): 337–52.
- Olivier Garret. n.d. “Warren Buffett Hates Gold... But Here’s Five Reasons You Need To Own It.” https://www.forbes.com/sites/oliviergarret/2017/04/27/warren-buffett-hates-gold-but-heres-five-reasons-you-need-to-own-it/?sh=5532f73e6cbb.
- Proctor. 2012. “Prospecting For Gold.” Black Enterprise, 2012.
- Sapriyani. 2012. “Analisis Emas Dan Investasi Saham IHSG Pada Bursa Efek Indonesia Berdasarkan Risk Dan Return Tahun 2008-2011.” UPN Veteran Yogyakarta.
- Sapto Rahardjo. 2004. Panduan Investasi Reksa Dana. Jakarta: PT Elex Media Komputindo.
- Serfianto D. Purnomo, R dkk. 2013. Buku Pintar Investasi & Gadai Emas. Jakarta: Gramedia Pustaka Utama.
- Sri Pangestuti. 2011. “Analisis Return LQ45 Dibandingkan Return Emas Dan Faktor-Faktor Yang Mempengaruhi Return LQ45 Dan Return Emas Selama Periode 1995 –2010.” Universitas Indonesia.
- Thamrin Abdullah. 2010. Bank Dan Lembaga Keuangan. Depok: Raja Grafindo Persada.
- Wirawan ED Radianto, and Citra Ayuningtyas. 2010. “Perbandingan Risk Dan Return Investasi Pada Emas, Saham Dan Reksadana Dalam Menentukan Keputusan Investasi.” Akrual 1 (2): 105–17.
- Wirawan ED Radianto dan Citra Ayuningtyas. 2010. “Perbandingan Risk Dan Return Investasi Pada Emas, Saham Dan Reksadana Dalam Menentukan Keputusan Investasi.” Akrual 1 (2): 105–17.
