Pengaruh Market Timing Ability dan Stock Selection Skill terhadap Kinerja Reksa Dana Saham

Lampiran 1
Tabel 1.1
Data Market Timing Ability Reksa Dana Saham
Tahun 2010-2014
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16

17
18
19
20
21
22
23
24

Nama Reksa Dana Saham

PANIN DANA PRIMA
PANIN DANA MAKSIMA
AXA CITRADINAMIS
ABERDEEN INDONESIA EQUITY
FUND
BNI REKSADANA BERKEMBANG
REKSA DANA BNP PARIBAS
INSFRASTRUKTUR PLUS
PNB PARIBAS EKUITAS

PNB PARIBAS PESONA
BNP PARIBAS SOLARIS
DANA EKUITAS ANDALAN
DANA EKUITAS PRIMA
BATAVIA DANA SAHAM
BATAVIA DANA SAHAM
OPTIMAL
CIMB-PRINCIPAL EQUITY
AGGRESSIVE
RENCANA CERDAS
GROW-2-PROSPER
EMCO GROWTH FUND
FIRST STATE INDOEQUITY
VALUE SELECT FUND
FIRST STATE INDOEQUITY
SECTORAL FUND
FS INDOEQUITY DIVIDEND
YIELD FUND
MAYBANK GMT DANA EKUITAS
LAUTANDHANA EQUITY

MNC DANA EKUITAS
MANDIRI INVESTA ATRAKTIF

2010
-0,011697
-0,092050
-0,011128
-0,011310

Market Timing Ability
2011
2012
2013
0,273965
-0,702507
-3,894074
0,746423
-1,079512
-1,986877
-2,020229

0,983827
0,172736
-0,961738
2,110764
0,236345

2014
-0,957855
-3,941863
0,234005
-6,192196

0,024037
0,000126

1,612417
-0,103271

0,134395
0,123048

-0,904975
0,265273

-4,909694

-0,017644
-0,013637
-0,114062
0,037508
0,044652
0,012981
-0,005135

-0,416483
-0,808677
-0,160257
-1,888710
0,677446
-1,663003

-1,244216

-0,622291
-0,386122
-2,082606
0,295054
-1,430392
-0,169820
-3,241131

0,060238
-0,179989
1,458192
-0,611407
-0,78202
0,556394
-0,943155

-0,027763

-1,012522

0,331485

-2,883880

-5,188463

0,011350
-0,013982
-0,384194
0,004130

0,626647
0,126220
0,648734
-1,825450

2,744082
-5,231964

-5,027842
0,404785

1,244663
3,569193
2,476109
0,924012

-5,419624
32,030569
-11,858010
-5,681100

0,008161

-2,008849

0,028328

0,533071

-3,882454

0,017489

-2,280498

0,318761

0,969421

-4,742352

-0,011498
-0,384194
-0,238253
-0,009354

-0,032210
0,648734

-1,252326
0,229732

0,320905
-5,027842
0,084734
-0,537111

0,931764
-0,708818
2,221046
0,462622

-1,115951

-2,799457
-2,334531
-2,723307

-3,885154

9,368348
-7,478644
-3,717686
-7,557370

-1,329209
8,848220
0,151962

85

Lanjutan Tabel 1.1
No

25
26
27
28
29
30
31
32
33
34

Nama Reksa Dana Saham

MANDIRI INVESTA UGM
ENDOWMENT PLUS
MANULIFE DANA SAHAM
MANULIFE SAHAM ANDALAN
PRATAMA SAHAM
SCHRODER DANA PRESTASI
PLUS
SCHRODER DANA ISTIMEWA
SIMAS DANAMAS SAHAM
SYAILENDRA EQUITY
OPPORTUNITY FUND
TRIM KAPITAL
TRIM KAPITAL PLUS

2010
-0,015518

Market Timing Ability
2011
2012
2013
0,024526
-0,964673
-0,336619

-0,001391
-0,003613
-0,077167
-0,016391

-0,802011
-1,264364
1,292361
-0,531903

0,161035
-0,525511
-3,659522
0,128952

1,195524
0,416631
-0,504198
0,301529

-2,802677
-4,235824
-11,010014
-0,924886

0,034497
-0,025498
0,085230

0,548859
1,651106
0,983459

-0,220884
-3,494953
-0,020336

0,220232
-0,654765
-3,830854

-4,219791
-4,962013
-3,665287

0,004059
-0,067190

0,757044
-0,733649

-2,364345
-3,598626

-1,462292
-0,680539

0,033866
-3,504024

2014
1,079850

86

No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24

Tabel 1.2
Data Stock Selection Skill Reksa Dana Saham
Tahun 2010-2013

Nama Reksa Dana Saham

PANIN DANA PRIMA
PANIN DANA MAKSIMA
AXA CITRADINAMIS
ABERDEEN INDONESIA
EQUITY FUND
BNI REKSADANA
BERKEMBANG
REKSA DANA BNP
PARIBAS
INSFRASTRUKTUR PLUS
PNB PARIBAS EKUITAS
PNB PARIBAS PESONA
BNP PARIBAS SOLARIS
DANA EKUITAS
ANDALAN
DANA EKUITAS PRIMA
BATAVIA DANA SAHAM
BATAVIA DANA SAHAM
OPTIMAL
CIMB-PRINCIPAL EQUITY
AGGRESSIVE
RENCANA CERDAS
GROW-2-PROSPER
EMCO GROWTH FUND
FIRST STATE
INDOEQUITY VALUE
SELECT FUND
FIRST STATE
INDOEQUITY SECTORAL
FUND
FS INDOEQUITY
DIVIDEND YIELD FUND
MAYBANK GMT DANA
EKUITAS
LAUTANDHANA EQUITY
MNC DANA EKUITAS
MANDIRI INVESTA
ATRAKTIF

2010
-0,019457
0,001433
0,039335
-0,035622

Stock Selection Skill
2011
2012
2013
0,004520
-0,012169
0,014927
0,010428
-0,013238
0,028344
0,004989
0,000839
-0,007956
-0,005961
0,000297
-0,003962

2014
0,010117
0,009817

0,001349
0,004098

-0,038597

0,002723

0,003723

0,004308

0,001107

-0,034027

-0,000691

0,005559

0,003292

0,001279

-0,017644
-0,032230
-0,023933
-0,042997

-0,416483
0,000094
0,004937
-0,005164

-0,622291
-0,000935
0,000130
-0,005906

0,060238
0,001810
0,003015
0,004784

-2,334531
0,003201

-0,037091
-0,036143
-0,032909

0,007468
-0,004452
-0,000580

-0,001135
0,000303
-0,000703

0,007617
0,007403
0,010236

0,007054
0,006299
0,006713

-0,038478

-0,005798

-0,003454

0,000597

0,006261

-0,031832
-0,029824
-0,022675

0,005434
0,000609
0,014557

0,009969
-0,018053
-0,004263

-0,000493
0,003557
0,022526

0,005832
-0,001638
0,001572

-0,040374

-0,000220

0,003802

0,000657

0,002371

-0,036515

-0,001405

0,000191

-0,002203

0,003044

-0,037936

-0,003374

0,001841

0,000363

0,002268

-0,032823

0,003772

0,005028

0,006646

0,004947

-0,022675
-0,012885
-0,034249

0,014557
-0,009573
-0,001758

-0,004263
0,014115
-0,000418

0,002010
-0,001373
0,005619

0,001818
0,002392
0,001829

0,003703
0,043772

87

Lanjutan Tabel 1.2
No
25
26
27
28
29
30
31
32
33
34

Nama Reksa Dana Saham

MANDIRI INVESTA UGM
ENDOWMENT PLUS
MANULIFE DANA SAHAM
MANULIFE SAHAM ANDALAN
PRATAMA SAHAM
SCHRODER DANA PRESTASI
PLUS
SCHRODER DANA ISTIMEWA
SIMAS DANAMAS SAHAM
SYAILENDRA EQUITY
OPPORTUNITY FUND
TRIM KAPITAL
TRIM KAPITAL PLUS

2010
-0,032554

Stock Selection Skill
2011
2012
2013
-0,004916
-0,006438
0,015816

2014
0,002057

-0,035390
-0,032719
-0,029230
-0,034875

-0,005154
-0,001726
0,012849
0,001086

-0,001764
0,000800
-0,007785
-0,003340

-0,001373
0,007988
0,044681
0,001366

0,001476
0,002297
0,013373
0,002799

-0,033478
-0,038828
-0,027408

0,008497
0,005777
0,008471

-0,002507
-0,016462

0,005112

0,006776
0,022187
-0,005571

0,001251
0,003081
0,007423

-0,031965

0,018035
0,022299

0,001949
-0,002440

-0,008636
-0,001500

0,003034
0,002910

-0,026968

.

88

Tabel 1.3
Data Kinerja Reksa Dana Saham
Tahun 2010-2014
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24

Nama Reksa Dana Saham

PANIN DANA PRIMA
PANIN DANA MAKSIMA
AXA CITRADINAMIS
ABERDEEN INDONESIA EQUITY
FUND
BNI REKSADANA BERKEMBANG
REKSA DANA BNP PARIBAS
INSFRASTRUKTUR PLUS
PNB PARIBAS EKUITAS
PNB PARIBAS PESONA
BNP PARIBAS SOLARIS
DANA EKUITAS ANDALAN
DANA EKUITAS PRIMA
BATAVIA DANA SAHAM
BATAVIA DANA SAHAM OPTIMAL
CIMB-PRINCIPAL EQUITY
AGGRESSIVE
RENCANA CERDAS
GROW-2-PROSPER
EMCO GROWTH FUND
FIRST STATE INDOEQUITY VALUE
SELECT FUND
FIRST STATE INDOEQUITY
SECTORAL FUND
FS INDOEQUITY DIVIDEND YIELD
FUND
MAYBANK GMT DANA EKUITAS
LAUTANDHANA EQUITY
MNC DANA EKUITAS
MANDIRI INVESTA ATRAKTIF

2010
0,624391578
0,916209804
0,296570176
0,409475253

Stock Selection Skill
2012
2013
0,138336818 -0,008082332
0,083837459 -0,039401756
-0,105822098 0,129962159 -0,118665799
-0,115579591
0,017273398 -0,224014677

0,338098158
0,37555817

-0,124495446
-0,156499307

0,119057829
0,213300149

-0,253585173
-0,120128823

0,668242141
0,821730201

0,432216125
0,429481438
0,499705184
0,357114398
0,358546785
0,363334024
0,422944836
0,30393967

-0,055697633
-0,035269975
-0,11086274
-0,112134718
-0,071899462
-0,096744466
-0,076099462
-0,09123405

0,103853336
0,125902828
0,328469788
0,04879391
0,214401261
0,052626472
0,174446546
-0,017999718

-0,163273467
-0,163004366
-0,192853078
-0,135535756
-0,151258467
-0,006868156
0,021525288
-0,171054392

0,685422443
0,644087789

0,464834762
0,422486242
0,259792584
0,284273078

-0,047040687
-0,137755453
0,06072494
0,010497553

0,023367351
0,03203956
0,073223056
0,077623461

-0,215270478
0,325964767
-0,134673876
-0,182349239

0,697085848
-0,249494466
0,042361566
0,44901601

0,37470257

-0,008315484

0,080503265

-0,172652197

0,540497448

0,363648903

-0,029332745

0,124888379

-0,17074189

0,655415062

0,35104666
0,265788695
0,573713559
0,427926188

-0,031663418
-0,132786689
-0,016039458
-0,101719069

0,114889228
0,109808361
0,416309587
0,076479263

-0,095598525
-0,150814192
-0,162633921
-0,218732525

0,312716749
0,535320924
0,335758008
0,648521725

2011
0,033158387
0,064700219

89

2014
0,380230477
0,443538025

0,681025686
0,591087996

0,560823066
0,688564227
0,548582648
0,530252437
0,50151236
0,654571738

Lanjutan Tabel 1.3
No

25
26
27
28
29
30
31
32
33
34

Nama Reksa Dana Saham

MANDIRI INVESTA UGM
ENDOWMENT PLUS
MANULIFE DANA SAHAM
MANULIFE SAHAM ANDALAN
PRATAMA SAHAM
SCHRODER DANA PRESTASI
PLUS
SCHRODER DANA ISTIMEWA
SIMAS DANAMAS SAHAM
SYAILENDRA EQUITY
OPPORTUNITY FUND
TRIM KAPITAL
TRIM KAPITAL PLUS

Kinerja Reksa Dana
2012
2013
-0,076403457 -0,156856876

2010
0,472389126

2011
-0,142732638

0,404872617
0,452305965
0,352433255
0,402758818

-0,101887986
-0,095539397
-0,150815224
-0,035968201

0,146467855
0,101433816
-0,024699314
-0,029168989

-0,173657649
-0,142932071
0,125382657
-0,125948496

0,563009716
0,58202665
0,601577778
0,645307181

0,593877534
0,294219154
0,642713612

-0,080043245
-0,17386646
-0,043567548

0,066791955
-0,234283457

0,417702444

0,016088024
-0,024128477
-0,192877743

0,411796598
0,685267277
0,290573492

-0,989116629

-0,283591169
-0,260851537

0,173760379
0,212791057

-0,249730859
0,037882499

0,690121808
0,402195128

0,532701253

90

2014
0,660584796

Lampiran 2

NO
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39

Tabel 2.1
Populasi Berdasarkan Kriteria Penarikan Sampel

NAMA PRODUK REKSA DANA SAHAM
KHARISMA KAPITAL PRIMA
KHARISMA FLEXI TERBATAS
PANIN DANA ULTIMA
PANIN DANA PRIMA
PANIN DANA MAKSIMA
PANIN DANA TELADAN
AAA ENHANCED STRATEGY FUND
AAA BLUE CHIP VALUE FUND 2
AVRIST EQUITY - CROSS SECTORAL

AXA MAESTROSAHAM
AXA CITRADINAMIS
ABERDEEN INDONESIA EQUITY FUND
SENTRA DANA EKUITAS
ASHMORE DANA USD EQUITY NUSANTARA
ASHMORE DANA EKUITAS NUSANTARA
ASHMORE DANA PROGRESIF NUSANTARA

RD BNI-AM DANA SAHAM BANDAKALA
BNI REKSADANA BERKEMBANG

BNI-AM DANA SAHAM INSPIRING EQUITY FUND

BNP PARIBAS ASTRO
BNP PARIBAS INSFRASTRUKTUR PLUS
BNP PARIBAS EKUITAS
BNP PARIBAS PESONA
BNP PARIBAS STAR
BNP PARIBAS INSPIRA
BNP PARIBAS SOLARIS
BNP PARIBAS MAXI SAHAM
DANA EKUITAS ANDALAN

BAHANA TRAILBLAZER FUND
DANA EKUITAS PRIMA
BAHANA DANA PRIMA
BAHANA PRIMAVERA 99
BATAVIA DANA SAHAM
BATAVIA DANA SAHAM OPTIMAL
CIMB-PRINCIPAL INDO DOMESTIC EQUITY FUND
CIMB-PRINCIPAL SMART EQUITY FUND

CIMB-PRINCIPAL EQUITY AGGRESSIVE
CIMB - PRINCIPAL EQUITY FOCUS

CIPTA ALPHA EQUITY

KODE

KHARISMA KP
710801
GR003DAULSH
GR002PRIMASH
91033
00D88A
AAAESF
611702
87783
AXMH
BIIDINA
NISP
21RSDE
D0AS06
D0AS01
D0AS02
BANDAKALA
000D1B
21BNIS
8829400
FOIP
89763
MPPESON
83089
86918
FOSL
82214
00D42C
BTBF
RDEP
BDPR
BDPF
BAM SAH
86769
NIDE
CPSEF
99556
617431
00D74E

KRITERIA
1














-

2














-

91

SAMPEL
PENELITIAN

Sampel 1
Sampel 2

Sampel 3
Sampel 4

Sampel 5
Sampel 6
Sampel 7
Sampel 8
Sampel 9
Sampel 10
Sampel 11
Sampel 12
Sampel 13
Sampel 14

Lanjutan Tabel 2.1
KRITERIA
NO
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77

NAMA PRODUK REKSA DANA SAHAM
CIPTA BETA EQUITY
RENCANA CERDAS
CIPTA PRIMA
CORFINA GROW-2-PROSPER ROTASI STRATEGIS
GROW-2-PROSPER
DANAREKSA MAWAR EKUITAS PLUS
DANAREKSA MAWAR KONSUMER 10
DANAREKSA MAWAR
DANAREKSA MAWAR KOMODITAS 10
DANAREKSA MAWAR FOKUS 10
DANAREKSA MAWAR ROTASI SEKTOR STRATEGIS
EMCO MANTAP
EMCO GROWTH FUND
EURO PEREGRINE EQUITY
FIRST STATE INDOEQUITY OPPORTUNITIES FUND USD
FIRST STATE INDOEQUITY HIGH CONVICTION FUND
FIRST STATE INDOEQUITY VALUE SELECT FUND
FIRST STATE INDOEQUITY SECTORAL FUND
FIRST STATE INDOEQUITY PEKA FUND
FS INDOEQUITY DIVIDEND YIELD FUND
GAP EQUITY FOCUS FUND
GAP EQUITY FUND
GAP VALUE FUND
MAYBANK GMT DANA EKUITAS
HPAM SAHAM DINAMIS
HPAM ULTIMA EKUITAS
LAUTANDHANA SAHAM MAHADI
LAUTANDHANA SAHAM LIKUID
LAUTANDHANA SAHAM INTI
LAUTANDHANA EQUITY
LAUTANDHANA EQUITY PROGRESIF
LAUTANDHANA EQUITY AGRESIF
LAUTANDHANA SAHAM PRIMA
LAUTANDHANA EQUITY PLUS
LAUTANDHANA GROWTH FUND
MEGA ASSET MAXIMA
MEGA ASSET GREATER INFRASTRUCTURE
MEGA DANA CAPITAL GROWTH

1

2

00D74F
91017
00D74G
88195
86504
000D7S
RDMK
RDMW
RDMI
RDMF
DMRSS
00D68D
00D68B
00D55C
8835100




-




-

86892
85100
98566
FIPF
35600048431
RDGAPEFF
85126
87528
85209
HPAM SAHAM D
HPAM-UL
YJRDLDSM
LAUTAN SL
H7004
YJRDLEP
00D54N
620105
H7003
YJRDLEP
LAUTAN GF
0D10AQ
0D10AS
0D10AX






-







-

KODE

92

SAMPEL
PENELITIAN
Sampel 15
Sampel 16

Sampel 17

Sampel 18
Sampel 19
Sampel 20
Sampel 20

Sampel 21

Sampel 22

Lanjutan Tabel 2.1
KRITERIA
NO
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113

NAMA PRODUK REKSA DANA SAHAM
RDPT MEGA SAHAM MAXIMA
MILLENIUM BERKEMBANG
MILLENIUM EQUITY PRIMA PLUS
MILLENIUM EQUITY GROWTH FUND
MILLENIUM DYNAMIC EQUITY FUND
MILLENIUM EQUITY
MNC DANA EKUITAS
MANDIRI DYNAMIC EQUITY
MANDIRI SAHAM DINAMIS
MANDIRI INVESTA EQUITY DYNAMO FACTOR
MANDIRI INVESTA ATRAKTIF
MANDIRI ASA SEJAHTERA
MANDIRI INVESTA EKUITAS DINAMIS
MANDIRI INVESTA UGM ENDOWMENT PLUS
MANDIRI INVESTA EQUITY ASEAN 5
MANDIRI INVESTA EQUITY MOVEMENT
MANDIRI SAHAM ATRAKTIF
MANULIFE DANA SAHAM UTAMA
MANULIFE SAHAM STRATEGI UNGGULAN
MANULIFE SAHAM SMC PLUS
MANULIFE INSTITUTIONAL EQUITY FUND
MANULIFE DANA SAHAM
MANULIFE SAHAM ANDALAN
MANULIFE GREATER INDONESIA FUND
NARADA SAHAM INDONESIA
NIKKO INDONESIA EQUITY FUND
OSO SUSTAINABILITY FUND
PASIFIC SAHAM SYARIAH
PACIFIC EQUITY GROWTH FUND
PACIFIC EQUITY FUND
PACIFIC EQUITY OPTIMUM FUND
PACIFIC EQUITY PROGRESIF FUND
PG SAHAM DINAMIS
PNM SAHAM AGRESIF
PHILLIP EQUITY
PHILLIP PRIME EQUITY

KODE
0D10AI
00D61N
612202
612201
00D61B
00D61B
BIG-EQ
MDEQ
RD MSD
MIDF
35600055431
87627
83139
83303
MIEA
MIEM
MSAF
MLDS
MLSU
87593
83758
92882
35600022433
8458200
87767
RB001INDEQSH
OSUS
PACIFIC SY
21PEGF
PACIFIC EQ
21PEOF
21PEPF
PG003SDSH
84962
KKRDPE
88039

SAMPEL
PENELITIAN

1

2






-






-

93

Sampel 23

Sampel 24
Sampel 25

Sampel 26
Sampel 27

Lanjutan Tabel 2.1
NO

NAMA PRODUK REKSA DANA SAHAM

114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150

PRATAMA DANA INVESTASI SAHAM
PRATAMA INVESTA MANDIRI SAHAM
PRATAMA EQUITY
DANA PRATAMA EKUITAS
PRATAMA SAHAM
PRATAMA DANA OPTIMUM SAHAM
PRATAMA DANA ULTIMA SAHAM
PRATAMA DANA DINAMIS SAHAM
PRATAMA DANA MAKSIMUM SAHAM
PRATAMA DANA PRIMA SAHAM
PROSPERA BUMN GROWTH FUND
PROSPERA BIJAK
PROSPERA DANA
QUANT INVESTA SAHAM
RHB OSK ALPHA SECTOR ROTATION
RHB OSK PRIME EQUITY FUND
SUCORINVEST MAXI FUND
SUCORINVEST EQUITY FUND
SAM DANA CERDAS
SAM INDONESIAN EQUITY FUND
SCHRODER 90 PLUS EQUITY FUND
SCHRODER DANA PRESTASI DINAMIS
SCHRODER DANA PRESTASI PLUS
SCHRODER DANA ISTIMEWA
SCHRODER INDO EQUITY FUND
SCHRODER DANA PRESTASI
SEMESTA DANA SAHAM
SIMAS SYARIAH UNGGULAN
SIMAS SAHAM UNGGULAN
SIMAS SAHAM BERTUMBUH
SIMAS DANAMAS SAHAM
SYAILENDRA MARKET LEADER FUND
SYAILENDRA EQUITY OPPORTUNITY FUND
SYAILENDRA DANA EKUITAS PLUS
SYAILENDRA DANA EKUITAS SEJAHTERA
SYAILENDRA EQUITY ALPHA FUND
PENYERTAAN TERBATAS SYAILENDRA EQUITY
GROWTH FUND
TF SUPER MAXXI
TRIMEGAH BHAKTI BANGSA
TRAM ASA EQUITY
TRAM INFRASTRUKTUR PLUS
TRIM KAPITAL

151
152
153
154
155

Lanjutan Tabel 2.1

KODE

KRITERIA

621306

356118189
621303
00D79A



-

2







-

622101
00D2AK
D0TR15
035600246442
000D2B





PRAM-INV
88104
00D78A
94532
99424
88203
88807
88856
88831
PRAM-EQ
88815
84343

00D51E
RDQIS
0082982
D0SK02
342349962
0083154
0362257943
0084665
SPEF
SDPD
0090829
006600829471
SIEF
SDPT
0088534
21SMUN
000D8R
000D8T
000D8O
SYAIL MLF
0085290

1



-

SAMPEL
PENELITIAN

Sampel 28

Sampel 29
Sampel 30

Sampel 31
Sampel 32

Sampel 33

94

156
157
158
159
160
161
162
163
164

TRIM KAPITAL PLUS
TRAM CONSUMSITION PLUS
VALBURY EQUITY I
ARCHIPELAGO EQUITY GROWTH
REKSA DANA SAHAM EASTSPRING INVESTMENT
ALPHA NAVIGATOR
REKSADANA EASTSPRING INVESTMENTS VALUE
DISCOVERY
PRIMER EKUITAS MAKRO PLUS
RD INDOSURYA EQUITY FUND
PINNACLE STRATEGIC EQUITY FUND

ESIAN


-


-

ESIVD

-

-

0088245
INDOEQ
PI002SEFSH

-


-

000D2L
035600246432
0084699

Sampel 34

95

Lampiran 3
Data Hasil Pengolahan SPSS
1. Asumsi Klasik
a. Uji Normalitas

96

One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual

N
Normal Parameters

a,b

Most Extreme Differences
Kolmogorov-Smirnov Z
Asymp. Sig. (2-tailed)

Mean

Std. Deviation
Absolute
Positive

Negative

169

,0000000

,21240122

,092
,092

-,092

1,191

,117

a. Test distribution is Normal.
b. Calculated from data.

97

b. Uji Heteroskedastisitas
Correlations
StockSelectionS MarketTimingAb
kill

Correlation Coefficient
StockSelectionSkill

Spearman's rho

MarketTimingAbility

1,000

,092

-,047

.

,235

,541

N

169

169

169

Correlation Coefficient

,092

1,000

-,053

Sig. (2-tailed)

,235

.

,490

N

169

169

169

-,047

-,053

1,000

Sig. (2-tailed)

,541

,490

.

N

169

169

169

Sig. (2-tailed)

Correlation Coefficient
ABS_RES

ility

ABS_RES

c. Uji Multikolinearitas
Coefficients
Model

Unstandardized Coefficients
B

(Constant)

Std. Error
,086

,017

MarketTimingAbility

-,011

,004

StockSelectionSkill

-,029

1,311

a

Standardized
Coefficients

t

Sig.

Beta

Collinearity Statistics
Tolerance

VIF

5,185

,000

-,218

-2,878

,005

,998

1,002

-,002

-,022

,983

,998

1,002

a. Dependent Variable: KinerjaReksaDana

98

d. Uji Autokorelasi
Runs Test
Unstandardized
Residual

a

Test Value

-,01227

Cases < Test Value

84

Cases >= Test Value

85

Total Cases

169

Number of Runs

74

Z

-1,774

Asymp. Sig. (2-tailed)

,076

a. Median

2. Analisis Statistik Deskriptif
Descriptive Statistics
N

Minimum

StockSelectionSkill

169

KinerjaReksaDanaSaham

169

MarketTimingAbility
Valid N (listwise)

-,06

169

-26,00

-1,18

169

Maximum

Mean

Std. Deviation

,05

-,0012

,97

,0894

34,14

-,3173

,01258

4,20914

,21765

3. Analisis Regresi Linear Berganda
a. Uji

F
a

ANOVA
Model

Sum of Squares
Regression

1

df

Mean Square

,379

2

,190

Residual

7,579

166

,046

Total

7,958

168

F
4,152

Sig.
,017

b

a. Dependent Variable: KinerjaReksaDanaSaham

b. Predictors: (Constant), StockSelectionSkill, MarketTimingAbility

99

b. Uji

t
Coefficients

Model

Unstandardized Coefficients
B
(Constant)

1

a

Std. Error
,086

,017

MarketTimingAbility

-,011

,004

StockSelectionSkill

-,029

1,311

Standardized
Coefficients

t

Sig.

Beta
5,185

,000

-,218

-2,878

,005

-,002

-,022

,983

a. Dependent Variable: KinerjaReksaDanaSaham

100