Te Effect BI Rate, Inflation, and Return on Net Asset Value (NAV) Sharia Mutual Funds in (OJK) Period 2017-2022

Abstract

Development of islamic mutual funds shows an upward trend to 2020 total coverage of 74,37% followed by a decline the following year after the covid 19 pandemic the increasing number of dissolved islamic mutual funds is causing a decrease in the number of mutual funds in 2021-2022. According to the provisions of POJK article 68 letter A concerning mutual funds in the form of KIK. If the net asset value (NAV) managed is less that IDR 10 billion for 120 consecutive trading days mutual funds must be dissolved. This is to the ability of management by fund manager and macroeconomic factors of a country will affect investor choice in invest capital. As a result, the objective of this research is to determine the impact of the BI rate, inflation, and return on the NAV of islamic mutual funds. This type of reseach is a quantitative method with multiple linear regression. The type of data in this secondary data the form month period 2017-2022. Based on the findings of the analysis, BI rate, inflation and return a significant effect on NAV simultaneously. Just variable inflation had a significant effect on NAV, whereas of BI rate and return has insignificant impact on the NAV sharia mutual funds. That influential variables need to be consired by investors in making decisions on approp investment instruments in sharia mutual funds.