Conventional Versus Sharia Money Market Mutual Funds: Which Performs Better During the Covid-19 Pandemic?

  • Dina Yeni Martia Accounting Department, Politeknik Negeri Semarang, Semarang, Central Java, Indonesia
  • Muhammad Rois Accounting Department, Politeknik Negeri Semarang, Semarang, Central Java, Indonesia
  • Muliasari Accounting Department, Politeknik Negeri Semarang, Semarang, Central Java, Indonesia
  • Latifah Risqiana Accounting Department, Politeknik Negeri Semarang, Semarang, Central Java, Indonesia
  • Noverdi Radja Dwilega Accounting Department, Politeknik Negeri Semarang, Semarang, Central Java, Indonesia
Keywords: Money Market Mutual fund performance, pandemic covid-19, Conventional Money Market Mutual Fund, Sharia Money Market Mutual Fund

Abstract

This study aims to determine whether conventional money market mutual funds perform better than sharia money market mutual funds or vice versa during the COVID-19 pandemic in Indonesia. This research method is descriptive with a quantitative comparison approach. This study employed secondary data obtained from IDX, Indonesian Bank, and Pasar Dana website.  The research employed the money market mutual funds data, Net Asset Value, BI 7 Days Repo rate during year 2020. Sharpe ratio utilized in this research to determine the money market mutual funds performance. Then, the result compared by using Independent sample T-test on SPSS. The result uncovers that in general the performance of conventional money market mutual funds performance superior the sharia money market mutual funds performance during covid-19 in Indonesia. However, both mutual funds average Sharpe ratio show the negative number during 2020. Moreover, there are no significant difference between conventional and sharia money market mutual funds returns during the period 2020. The high different return on the maximum return due to some conventional mutual fund perform exceptional during 2020.

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Published
2021-11-13
How to Cite
Martia, D. Y., Muhammad Rois, Muliasari, Latifah Risqiana, & Noverdi Radja Dwilega. (2021). Conventional Versus Sharia Money Market Mutual Funds: Which Performs Better During the Covid-19 Pandemic?. The Journal of Management Theory and Practice (JMTP), 2(3), 35-40. https://doi.org/10.37231/jmtp.2020.2.3.174