Perbankan – Reksa Dana


reksa dana

PENGERTIAN
PENGERTIAN
Menurut UU No.8 tahun 1995 tentang pasar modal, reksadana :
Wadah yang dipergunakan untukmemngimpun dana dari masyarakat pemodal untuk selanjutny diinvestasikan dalm portofolio oleh manajer investasi.

BENTUK HUKUM
Reksa Dana Perseroan (PT)
Memiliki anggaran dasar, pemegang saham, pengurus atau direksi, kekayaan sendiri, da kewajiban-kewajiban.

Reksa Dana KIK
Melakukan kegiatan berdasarkan kontrak yang dibuat manajer investasi dan bank kustodian.

SIFAT REKSA DANA
Dibedakan menjadi 2 jenis :
1. reksa dana tertutup ( closed-end investment funds )
2. reksa dana terbuka ( closed-end investment fund )
Reksa dana berbentuk PT sifatnya tertutup.
Reksa dana berbentuk KIK sifatnya terbuka.

Reksa dana tertutup
karakteristiknya hanya dapat menjual saham reksa dana(bukan unit penyertaan seperti istilah dalam reksa dana terbuka. Tertutup dalam jumlah saham yang dapt diterbitkan dan dalam menerima pemodal baru.

Reksa dana terbuka
karakteristiknya dapat menjual unit penyertaannya secara terus-menerus sepanjang ada investor yang berminat. Investor dapat menjual kembali unit peyertaan sesuia NAB kepada manajer investasi kapan saja diinginkan.
JENIS REKSADANA BERDASARKAN PORTOFOLIO INVESTASINYA :
a. Reksa dana pasar uang
reksa dana yang hanya melakukan invstasi pada efek yang bersifat
utang dengan jatuh tempo < 1tahun.

b. Reksa dana pendapatan tetap
reksa dana yang melakukan investasi sekurang-kurangnya 80% dari
aktiva dalam bentuk efek yang bersifat hutang.

c. Reksa dana saham
reksa dana yang melakuka investasi sekurang-kurangnya 80%
dalam efek yang sifatnya ekuitas.

d. Reksa dana campuran
reksa dana yang melakukan investasi dalam efek bersifat ekuitas
dan bersifat utang yang perbandingannya tidak termasuk kategori
poin a,b,c.

NET ASSETS VALUE  (NILAI AKTIVA BERSIH)
NAV: per share value of a mutual fund’s investment holding.
Example :
A mutual fund has Rp.100 mil in assets and Rp. 3 mil in short
term liabilities. 10.765 mil shares outstanding. What is the
NAV?
Solution
(100 mil – 3 mil) / 10.765 mil = 9.0107 per share

NAV : Market value asset – Portofolio Liabilities
                                share outstanding

MUTUAL FUND ADVANTAGES
Broad Diversification :
◦ Diversified stock funds hold large and small company stocks broadly spread across industries and economic sectors
◦ Diversified bond funds hold bonds with different maturities, coupon, and credit quality

Ability to retain professional :
investment management at a
reasonable cost
Investor convenience
Many offer “fund family”

MUTUAL FUND DISADVANTAGES
Volatility can be significant
– Diversification doesn’t protect investors from the risk of loss from
an overall decline in financial markets.
– Mutual fund regulation doesn’t eliminate the risk of an
investment falling in value

High management fees and sales commissions

10 REASONS TO INVEST IN MUTUAL FUNDS
Expert on your side
      When you invest in a mutual fund, you buy into the experience and skills of
a fund manager and an army of professional analyst.

Limited risk
Mutual funds are diversification in action and hence do not rely on the
performance of a single entity.

More for less
For the price of one blue chip stock for instance, you could get yourself a
number of units across a number of companies and industries when invest.

Easy investing
You can invest in a mutual fund with as little as Rp. 500,000.
Salaried   individuals also have the option of investing in a monthly saving
plan.

Convenience
You can invest directly with a fund house, or through your bank or financial
adviser, or even over the internet.

Investor protection
A mutual fund in India is registered with SEBI, which also monitors the
operations of the fund to protect your interests.

Quick access to your money
It’s good to know that should you need your money at short
notice, you can usually get it in four working days.

Transparency
As an investor, you get updates on the value of your units, information on
specific investments made by the mutual fund and the fund manager’s
strategy and outlook.

Low transaction costs
A mutual fund, by sheer scale of its investments is able to carry out
cost-effective brokerage transactions.

Tax benefits
Over the years, tax policies on mutual funds have been favourable to
investors and continue to be so.

 

WARNING SIGNALS
 Fund’s management changes
 Performance slips compared to similar funds.
 Fund’s expense ratios climb
 Beta, a technical measure of risk, also climbs.
 Independent rating services reduce their ratings of the fund.
 It merges into another fund.
 Change in management style or a change in the objective of the fund.

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