ANALISIS PENGARUH SUKU BUNGA SBI, INFLASI, DAN KURS RUPIAH TERHADAP RETURN REKSA DANA SAHAM

Abstract

The purpose of this research is to test the partial influence of the interest rates of Bank Indonesia certificate, inflation rates, and rupiah exchange rates to the level of return on mutual fund share. The samples are 40 of 105 mutual fund which are listed in Capital Market Supervisory Agency (BAPEPAM) in 2013-2015 periods, so that the total of samples are 1.440 mutual fund from the data which has been obtained every month. There are four variables in this research i.e.: return on mutual funds as the dependent variable, whereas the interest rates of Bank Indonesia certificate, inflation rates, and rupiah exchange rates as the independent variables. The analysis instrument has been carried out by using multiple linear regressions analysis, the sample has been taken by using purposive sampling. The result of this research shows that partially the the interest rates of Bank Indonesia certificate and inflation rates does not give any influence to the return on mutual fund, whereas the rupiah exchange rates gives significant influence to the return on mutual funds. Rupiah exchange rate has dominant influence to the return on mutual fund.
Keywords : the interest rates of Bank Indonesia certificate, inflation rates, rupiah exchange rate and return mutual funds rates