Analisis Hubungan Kepemilikan insider Dengan Fund Return, Fund Turn Over, dan Fund Tax Cost Reksa Dana Saham periode 2010-2013

NAB/NAV

  55.55 159,262,149,9

  03.93 3,082,769,775,9

  45.61 1,134,654,400,5

  51.52 538,281,728,8

  79.33 191,728,652,2

  00.27 112,217,016,3

  84.87 2,236,672,911,7

  71.89 264,103,288,2

  66.49 1,582,225,379,25

  9.00 2012

  292,661,968,7

  78.17 38,740,498,2

  11.94 3,186,558,735,6

  10.71 91,532,777,240.

  64 580,038,342,4

  25.06 224,793,718,8

  356,318,843,0

  01.67 856,270,675,8

  4.00

  62.91 1,805,460,489,94

  26.82 111,961,852,9

  27.07 1,494,473,646,6

  05.04 415,598,998,1

  17.10 417,024,847,2

  81.05 2,044,973,101,4

  23.01 1,763,383,508,2

  42.67 2,464,039,731,8

  11.07 37,747,787,8

  818,186,044,2

  8.85 2013

  39.46 1,454,461,493,36

  40.50 213,741,971,1

  48.68 37,397,206,2

  Perio de Batavia Dana

  Saham BNI Reksa

  54.14 264,928,192,27

  Dana Berkembang

  Manulife Dana Saham

  Panin Dana Prima

  Reksa Dana Dana Ekuitas

  Prima Reksa Dana

  Simas Danamas

  Saham Batavia Dana

  Saham Optimal

  BNP Paribas Pesona

  Danareksa Mawar

  Manulife Saham Andalan

  2009 134,224,970,0

  40.17 46,338,816,8

  06.49 2,163,146,433,2

  7.33 200,361,563,9

  30.36 1,934,968,159,95

  99.92 2,540,515,577,7

  69.65 229,403,984,9

  6.20 1,687,353,238,4

  01.90 96,200,025,05

  41.82 129,230,445,4

  5.30 297,552,006,7

  99.84 744,637,893,04

  01.10 34,057,068,7

  46.65 113,031,858,7

  134,803,019,5

  300.00 2010

  93.33 204,415,844,022,

  38.58 302,671,424,0

  8.70 1,398,325,515,3

  77.29 85,184,392,47

  8.00 2011

  

Jumlah Unit

  Periode Batavia Dana

  Saham BNI Reksa

  Dana Berkembang

  Manulife Dana Saham

  Panin Dana Prima

  Reksa Dana Dana Ekuitas

  Prima Reksa Dana

  Simas Danamas

  Saham Batavia Dana

  Saham Optimal BNP Paribas

  Pesona Danareksa

  Mawar Manulife Saham

  Andalan 2009 4,594,581.82 27,778,977.97 311,228,756.25 186,017,696.07 79,132,809.02 85,688,031.67 66,032,790.23 102,947,266.29 62,269,225.77 1,834,585,425.65 2010 3,467,209.13 15,965,735.47 273,129,909.18 321,068,172.13 87,800,098.10 77,385,403.39 54,167,884.36 90,004,663.25 34,612,951.16 1,258,926,377.93 2011 9,386,840.04 18,146,329.94 338,615,500.76 456,185,498.51 161,448,014.17 128,855,259.78 63,998,721.13 116,771,467.01 37,918,906.43 1,056,286,689.91 2012 7,160,487.62 16,861,567.38 312,468,515.91 331,283,465.28 149,468,142.39 118,340,983.22 111,497,963.18 82,734,027.43 29,275,620.29 879,455,377.13 2013 19,128,227.81 19,540,165.51 253,156,316.90 719,590,022.50 237,470,990.60 305,767,984.36 193,777,821.04 74,302,527.38 15,694,286.33 1,154,242,620.92

NAB/UP

  Periode Batavia Dana

  Saham BNI Reksa Dana

  Berkembang Manulife Dana

  Saham Panin Dana

  Prima Reksa Dana

  Dana Ekuitas Prima

  Reksa Dana Simas

  Danamas Saham

  Batavia Dana Saham

  Optimal BNP Paribas

  Pesona Danareksa

  Mawar Manulife

  Saham Andalan 2010 38,879.40 2,133.13 9,301.49 2,319.25 3,388.97 1,669.96 1,775.96 18,747.40 6,627.69 1,537.00

  2011 37,959.40 2,060.87 9,104.04 2,487.27 3,334.09 1,487.94 1,753.43 19,154.28 6,964.95 1,497.91 2012 40,871.79 2,297.56 10,198.02 276.30 3,880.68 1,345.79 2,016.12 21,313.88 7,301.02 1,653.82 2013 42,773.75 1,931.80 9,733.27 2,841.86 3,605.79 1,363.86 2,144.72 20,113.36 7,133.92 1,564.19

  

Saham Manajemen Perusahaan

  008.22 27,598,990,059

  6,455,068,046, 115.04

  22,207,654,726 ,972.90

  6,669,746,189, 805.93

  10,384,388,704 ,206.60

  2012 9,583,769,911,

  008.22 4,281,273,597,

  069.52 13,055,373,007

  ,324.30 7,797,241,898,

  146.60 13,124,562,547

  ,666.60 5,331,927,723,

  408.38 9,583,769,911,

  ,007.20 7,727,789,716,

  11,207,269,696 ,035.20

  824.42 13,055,373,007

  ,324.30 2013

  9,865,347,375, 073.50

  4,639,539,864, 986.50

  12,140,298,836 ,446.60

  10,641,557,540 ,919.80

  12,568,632,886 ,379.40

  5,183,131,368, 653.70

  9,865,347,375, 073.50

  25,499,549,728 ,601.40

  7,916,016,850, 392.87

  5,079,412,519, 330.67

  7,763,899,693, 150.73

  Perio de Batavia Dana

  Manulife Saham Andalan

  Saham BNI Reksa

  Dana Berkembang

  Manulife Dana Saham

  Panin Dana Prima

  Reksa Dana Dana Ekuitas

  Prima Reksa Dana

  Simas Danamas

  Saham Batavia Dana

  Saham Optimal

  BNP Paribas Dana Pesona

  Danareksa Mawar

  2010 5,099,223,065,

  10,384,388,704 ,206.60

  599.41 1,970,817,917,

  142.72 9,509,015,465,

  868.20 4,299,384,229,

  451.82 10,340,016,875

  ,754.10 3,765,462,896,

  182.23 5,099,223,065,

  599.41 20,574,273,411

  ,796.80 5,656,253,726,

  646.73 9,509,015,465,

  868.20 2011

  6,455,068,046, 115.04

  2,548,914,838, 319.36

  12,140,298,836 ,446.60

  5.41

  .20 13,795,136,00

  94 542,076,667.6 9,586,432,684.

  41 305,199,822.7 7,011,246,259.

  50 13,205,164,76

  1.57 79,111,269,03

  7.85 2012 2,097,083,287.

  20 671,608,947

  159,327,937,29

  0.44 4,576,638,875.8

  5 3,553,534,468.

  30 7,963,107,563.

  54 1,019,922,093

  0.75 10,687,098,92

  .24 154,138,489,25

  2.02 72,723,074,75

  1.13 2013

  40,909,304,34

  9.24 1,887,389,488

  .72 123,201,987,08

  0.72 102,248,655,21

  2.18 42,813,533,97

  1.14 20,851,242,42

  8.45 788,549,756.1

  20 5,598,093,004.

  84 90,273,024,57

  2.48 56,732,720,151.

  5 1,869,860,413

  

Fund Tax Cost (aftertax)

  Danareksa Mawar

  Periode Batavia Dana

  Saham BNI Reksa

  Dana Berkembang

  Manulife Dana Saham

  Panin Dana Prima

  Reksa Dana Dana Ekuitas

  Prima Reksa Dana

  Simas Danamas

  Saham Batavia Dana

  Saham Optimal

  BNP Paribas Dana Pesona

  Manulife Saham

  804,943,300.6

  Andalan 2010

  0.00

  0.00

  0.00

  0.00

  0.00

  0.00

  0.00

  0.00

  0.00

  0.00 2011

• 1,986,548,862.

  

Rata-rata NAB

  Reksa Dana BNI Reksa Reksa Dana Batavia Dana

  Batavia Dana Manulife Dana Panin Dana Simas BNP Paribas Danareksa Manulife Periode Dana Dana Ekuitas Saham

  Saham Saham Prima Danamas Dana Pesona Mawar Saham Andalan Berkembang Prima Optimal

  Saham 120,943,516,6 32,566,621,4 2,079,981,432,9 598,712,599,52 244,865,106,0 128,169,366,6 84,734,253,71 1,460,850,312,4 237,932,373,9 1,746,690,000,7

  2010

  04.16

  23.41

  42.12

  4.97

  09.83

  47.32

  6.10

  32.55

  84.22

  31.42 323,114,362,8 35,368,197,4 2,851,183,761,0 913,919,253,17 435,219,184,2 181,995,145,0 111,711,637,9 1,921,139,038,9 266,642,351,0 1,977,985,449,7

  2011

  24.08

  19.38

  13.39

  7.99

  01.02

  86.87

  42.86

  78.97

  17.80

  20.83 335,950,658,7 38,250,522,0 3,083,121,383,4 1,058,447,842,1 353,339,000,8 196,845,042,0 115,184,219,3 1,859,673,698,6 223,554,095,5 1,351,185,055,4

  2012

  18.36

  66.33

  97.78

  70.49

  68.53

  76.71

  14.58

  85.01

  75.79

  55.68 551,593,212,2 50,254,780,7 2,874,560,402,5 1,588,122,358,7 752,227,114,1 295,151,057,9 344,050,646,9 1,599,761,781,7 125,133,125,0 1,726,290,812,8

  2013

  12.12

  38.97

  58.97

  22.85

  70.15

  99.21

  07.67

  02.88

  95.92

  32.71

  

Fund Return

  Reksa Dana BNI Reksa Reksa Dana Batavia Dana Manulife

  Batavia Dana Manulife Dana Panin Dana Simas BNP Paribas Danareksa Periode Dana Dana Ekuitas Saham Saham

  Saham Saham Prima Danamas Pesona Mawar Berkembang Prima Optimal Andalan

  Saham 2010 0.004306572 -0.265042331 0.174453814 1.81071594 0.485075285 0.14330992 0.129315151 0.206695594 -0.242069232 -0.990534158 2011 1.643255651 0.098074718 0.213442579 0.523766667 0.809034107 0.483618288 0.166496748 0.325551082 0.151258503 -0.18229901 2012 -0.17865144 0.035919582 0.033667438 -0.919329818 0.077573901 -0.169335683 1.003205272 -0.21160421 -0.190687959 -0.080749486 2013 1.795669173 -0.025624615 -0.226739585 21.34142963 0.476231161 1.618480583 0.848801649 -0.152496527 -0.476182182 0.24132574

  

Fund Turn Over

  Periode Batavia Dana

  Saham BNI Reksa

  Dana Berkembang

  Manulife Dana Saham

  Panin Dana Prima

  Reksa Dana Dana Ekuitas

  Prima Reksa Dana

  Simas Danamas

  Saham Batavia Dana

  Saham Optimal

  BNP Paribas Pesona

  Danareksa Mawar

  Manulife Saham

  Andalan 2010 1.11459484 1.045766104 1.221412623 1.24373179 1.215167043 1.008278724 1.135314478 1.155048689 0.964156248 1.107791399 2011 1.102763863 1.057368171 1.081224514 1.241525875 1.23680607 1.053482235 1.004523955 1.164243122 0.990477646 0.799917603 2012 0.871145691 1.012809659 1.033549556 0.086478307 1.641591619 0.809073717 1.951601705 0.948221997 0.956108501 1.07643397 2013 1.4833142 0.751128296 0.857188365 1.287667219 1.138314027 1.412920049 1.207958775 0.934185117 0.894741923 1.045861147

  

Fund Tax Cost

  2010

  0.00

  0.00

  0.00

  0.00

  0.00

  0.00

  0.00

  0.00

  0.00

  Manulife Saham Andalan

  Periode Batavia Dana

  Danareksa Mawar

  BNP Paribas Pesona

  Batavia Dana Saham Optimal

  Simas Danamas Saham

  Prima Reksa Dana

  Reksa Dana Dana Ekuitas

  Panin Dana Prima

  Manulife Dana Saham

  Dana Berkembang

  Saham BNI Reksa

  0.00 2011 0.002259053 0.050000003 0.050000000 0.050000000 0.001007050 0.050000000 0.002719729 0.003134677 0.050000001 0.050000000 2012 0.007165548 0.017336095 0.050000000 0.050000000 0.006126379 0.050000000 0.004537147 0.007823106 0.050000002 0.050000000 2013 0.050000003 0.050000003 0.050000000 0.050000000 0.050000000 0.050000000 0.001897381 -0.001329263 0.050000003 0.050000000

  Kepemilikan insider

  Periode Batavia Dana

  Saham BNI Reksa

  Dana Berkembang

  Manulife Dana Saham

  Panin Dana Prima

  Reksa Dana Dana Ekuitas

  Prima Reksa Dana

  Simas Danamas

  Saham Batavia Dana

  Saham Optimal

  BNP Paribas Pesona

  Danareksa Mawar

  Manulife Saham

  Andalan 2010 37.82721696 57.86810159 3.74294712 5.773791892 34.75028446 29.13758352 53.00646297 12.19322246 24.6563011 4.914300743 2011 18.11598845 68.15789459 3.368525534 6.842523758 20.82045348 26.49271489 57.52307675 9.92887901 25.25430953 6.563153923 2012 32.74689209 110.5115782 4.097013139 85.18524329 22.62706029 33.4789385 42.63361966 15.65115582 36.15476023 8.976087072 2013 12.05758451 122.9089208 4.926989885 5.203764066 14.6783409 12.42883105 23.73765918 17.06256232 70.70280315 6.724211858

  14 Series: Y

  Sample 1 40

  12 Observations 40

  10 Mean 29.73579

  Median 21.72376

  8 Maximum 122.9089

  Minimum 3.368526

  6 Std. Dev. 28.90056

  Skewness 1.612232 Kurtosis 5.216091

  4 Jarque-Bera 25.51371

  2 Probability 0.000003

  10

  20

  30

  40

  50

  60

  70

  80 90 100 110 120 130

  30 Series: X1

  Sample 1 40

  25 Observations 40

  Mean 0.763233

  20 Median 0.136313

  Maximum 21.34143

  15 Minimum -0.990534

  Std. Dev. 3.397427 Skewness 5.756265

  10 Kurtosis 35.40323

  5 Jarque-Bera 1970.846

  Probability 0.000000

  5

  10

  

15

  20

24 Series: X2

  Sample 1 40

  20

  20 Series: X3

  Sample 1 40 Observations 40

  16 Mean 0.025082

  Median 0.012891

  12 Maximum 0.050000

  Minimum -0.001329 Std. Dev. 0.024209

  8 Skewness 0.056589

  Kurtosis 1.045059

  4 Jarque-Bera 6.391003

  Probability 0.040946

  0.00

  0.01

  0.02

  0.03

  0.04

  0.05 Dependent Variable: Y?

  Method: Pooled Least Squares Date: 07/17/14 Time: 10:51 Sample: 2010 2013 Included observations: 4 Cross-sections included: 10 Total pool (balanced) observations: 40 Variable Coefficient Std. Error t-Statistic Prob.

  X1? -2.096819 1.497949 -1.399794 0.1699 Cross-section random 0.494788 3 0.9200 Cross-section random effects test comparisons: Variable Fixed Random Var(Diff.) Prob.

X1? -0.848362 -0.863613 0.019802 0.9137

  X3? 155.925591 141.378488 441.119501 0.4885 Cross-section random effects test equation: Dependent Variable: Y? Method: Panel Least Squares Date: 08/21/14 Time: 14:12 Sample: 2010 2013 Included observations: 4 Cross-sections included: 10 Total pool (balanced) observations: 40 Variable Coefficient Std. Error t-Statistic Prob.

  C 67.88045 12.25556 5.538746 0.0000

X1? -0.848362 0.874019 -0.970646 0.3403

  X3? 155.9256 124.9439 1.247965 0.2228 Effects Specification

  Cross-section fixed (dummy variables) R-squared 0.819414 Mean dependent var 29.73579 Adjusted R-squared 0.739153 S.D. dependent var 28.90056 S.E. of regression 14.76043 Akaike info criterion 8.478735 Sum squared resid 5882.500 Schwarz criterion 9.027621 Log likelihood -156.5747 Hannan-Quinn criter. 8.677195 F-statistic 10.20941 Durbin-Watson stat 2.040413 Prob(F-statistic) 0.000000

  Dependent Variable: Y? Method: Pooled Least Squares Date: 08/21/14 Time: 15:29 Sample: 2010 2013 Included observations: 4 Cross-sections included: 10 Total pool (balanced) observations: 40 White cross-section standard errors & covariance (d.f.

  WARNING: estimated coefficient covariance matrix is Variable Coefficient Std. Erro

  C 67.88045 6.974502

X1? -0.848362 0.738102

  X3? 155.9256 70.70621 Fixed Effects (Cross)

  _RDBDS--C -0.641175 _RDBNIRDB--C 54.29344

  _RDMDS--C -29.59147 _RDPDP--C -6.279442 _RDDEP--C 3.485611 _RDSDS--C -6.978395

  _RDBDSO--C 27.07073 _RDBNPPP--C -14.37065

  _RDDM--C 1.659009 _RDMSA--C -28.64766

  Effects Specification Method: Pooled EGLS (Cross-section random effects) Date: 07/17/14 Time: 10:52 Sample: 2010 2013 Included observations: 4 Cross-sections included: 10 Total pool (balanced) observations: 40 Swamy and Arora estimator of component variances Variable Coefficient Std. Error t-Statistic Prob.

  C 67.76286 15.16891 4.467220 0.0001 X1? -0.863613 0.862616 -1.001156 0.3234 X2? -37.75762 10.34785 -3.648838 0.0008 X3? 141.3785 123.1660 1.147869 0.2586

  Random Effects (Cross) _RDBDS--C -0.765278

  _RDBNIRDB--C 51.00484 _RDMDS--C -27.57113

  _RDPDP--C -5.597115 _RDDEP--C 3.020624 _RDSDS--C -6.371747

  _RDBDSO--C 24.96460 _RDBNPPP--C -13.77952

  _RDDM--C 1.767788 _RDMSA--C -26.67306

  Effects Specification S.D. Rho

  Cross-section random 28.61113 0.7898 Idiosyncratic random 14.76043 0.2102

  Weighted Statistics R-squared 0.397457 Mean dependent var 7.427206 Adjusted R-squared 0.347245 S.D. dependent var 17.62225 S.E. of regression 14.23759 Sum squared resid 7297.522 F-statistic 7.915597 Durbin-Watson stat 1.623947 Prob(F-statistic) 0.000351