The Study Of Islamic Fund Performance In Indonesia: A Meta Analysis

This paper focuses on risk-return performance analysis, comparative between Islamic funds and indices against their conventional benchmark. This study do not show the empirical result study, on the other hand this study simply evaluate the performance of Islamic fund in Indonesia using analysis of Islamic paper in Indonesia. Following international result, the objective of this study is to know the performance Islamic investment risk-return profile and risk adjusted return measures whether Islamic funds outperform, underperform, or similar performance against the conventional benchmark. This perspectives study showed inconsistency results while some evidences analyzed in Indonesia do not supporting the portfolio theory. The stakeholder might be able to be selecting their consideration of investment decision by using the meta analysis of this study. Therefore, from this conceptual paper the Indonesian perspective of Islamic index describes performance different than conventional benchmarking.