ATTRIBUTES AND PERFORMANCE OF FUND MANAGEMENT COMPANIES: EVIDENCE FROM THE LARGEST SHARIAH-COMPLIANT FUND MARKETS

Background and Purpose: The study examines the effect of fund management companies’ (FMCs) attributes on FMC performance in the four countries with the largest number of Islamic funds from 2007 to 2018. Methodology: The study uses pooled regression analysis on 70 FMCs, comprising Saudi Arabia (25), Malaysia (20), Indonesia (14) and Pakistan (11). The sample is further divided into FMC with Islamic funds focused (IFFMC) and conventional funds focused (CFFMC). Findings: Only past flows are insignificantly related to performance. Both proxies for size positively relate to returns, but only in the case of Saudi Arabia. In Pakistan, performance improves with assets under management (AUM), while in Malaysia and Indonesia, an increasing number of funds negatively relate to performance. A relatively high number of better performing funds positively affect FMC and vice versa. Additionally, there are significant differences in the factors determining IFFMC and CFFMC performance, with the number of funds and AUM positively affecting the performance of IFFMC but not CFFMC. Poorly performing funds adversely affect CFFMC but not IFFMC. Contributions: This study provides useful information for investors using a top-down approach to FMC then fund selection, and for managers in evaluating the impact of factors like FMC scale and scope on performance. The impact of these attributes differs between CFFMCs and IFFMCs which lies in the performance differences commonly observed, at the FMC and fund level. Keywords: Islamic funds management industries, Islamic mutual fund, fund performance, Islamic finance. Cite as: Marzuki, A., Bani Atta, A. A., & Worthington, A. (2022). Attributes and performance of fund management companies: Evidence from the largest Shariah-compliant fund markets. Journal of Nusantara Studies, 7(1), 114-141. http://dx.doi.org/10.24200/jonus.vol7iss1pp114-141

Analisis Penerapan PSAK 109 Dalam Penyajian Laporan Keuangan Lazismu

<p class="bdabstract">The amil zakat institution is formed by the government, mass organization, or community that functions as a forum for collecting, distributing, and utilizing zakat, infaq, and alms funds. Management of zakat and other funds must be carried out professionally, transparently, and according to PSAK 109 financial reporting standards because the management of these funds will be accounted. The purpose of this study was to determine the extent of the application of PSAK 109 contained in the financial statements 2020 of Lazismu Palopo city. The method used is descriptive qualitative. The results showed that the Lazismu of Palopo city had fulfilled the four elements of the report from PSAK 109. Only reports on changes in assets under management aren’t presented.</p>

THE EFFECTS OF DONOR FUNDING ON THE PERFORMANCE OF SEXUAL REPRODUCTIVE HEALTH NGOS IN MOMBASA COUNTY

Purpose: Local Non-Governmental Organizations (NGOs) play crucial role in uplifting livelihoods and overall economic development in Kenya. However, several local NGOs have experienced dwindling performance as a result of insufficient donor funding. It is in this vein that the current study assessed the effects of donor funding on the organizational performance of local sexual reproductive health NGOs in Mombasa County. The specific study objectives included; to establish the effect of availability of donor funds, funds management, and capacity building on the performance of local NGOs. Methodology: The study adopted a descriptive survey research design while the target population was all the employees of sexual reproductive health NGOs in Mombasa County. The study used simple random sampling technique. A structured questionnaire was self-administered to all employees of the 14 NGOs. The study utilized descriptive statistics and multiple regression analysis. Diagnostic tests such as normality and multicollinearity were used. Results: The research found that funds’ management, funds’ availability, capacity building, and government policies had positive relationship with NGOs project performance. The study concludes that NGOs had various sources of funding. It concludes that the NGOs ensured funds’ management by employing qualified accounting staff, embracing openness for regular donor evaluations, ensuring financial disclosures to stakeholders. The study concludes that NGOs’ staff had adequate experience in running projects. It was concluded that there was no level business environment for local NGOs, the available government NGO operation policies were unfriendly and the Co-ordination Act needed improvement. Unique contribution to theory, policy and practice: The study recommends that all NGOs should continue sourcing for multiple reliable funders. The study recommend that all NGOs should uphold proper planning for finances, monitoring, evaluation, and budgeting control to ensure accountability to promote successful completion of projects. The study recommends that NGOs’ staff should be subjected to regular timely task-oriented training.

Exploring Village Funds Management on The Perspective Capacity Village Apparatus’s of Bengkulu Province in 2018-2019

This study aimed to determine the extent to which the village apparatus’s capacity can manage village funds. This study used qualitative and quantitative approaches, namely frequency percentage statistics. Results of distribution utilized the total score of the answers. Data sources included primary and secondary data. Data sources included primary and secondary data. The object of research is 30 (thirty) villages, 2 respondents from each village are taken. Findings demonstrate that the village apparatus’s capacity in managing village funds is generally assessed from their basic Capability, management capability, and technical Capability, which fall into the ‘fair’ category. It indicates that the village apparatus needs to increase its capacity so that village funds can be managed optimally. The solutions include increasing the HR-village apparatus’s capacity through computer training, technical guidance, seminars, and socialization of related regulations. Besides, facilitation and mentoring are the best ways that the village apparatus needs to increase their capacity, considering that stakeholders are demanding a change in the paradigm of implementation in village governance and the era of disruption to balance and harmonize with current and future conditions.

Assessment of the possibility of extra-budgetary funds including in the income distribution from unified treasury account funds management

The modern specifics of the temporarily free funds management on Unified Treasury Account of the Federal budget have been analysed. The assessment of the possibility and expediency of using of the income part received from the management of these funds to transfer to the Pension Fund of Russia budget as an additional factor in balancing its income and expenditure obligations, – has been made. An analysis of the current legislation has shown that the Pension Fund of Russia is not included in the number of recipients of income shares from managing balances on a single treasury account. In this regard, an estimate of the approximate amount of income from managing balances on a single treasury account based on open data has been made. It is proposed to include the Pension Fund of Russia in process of distributing these revenues since their value is sufficient to cover up to 10 % of the budget deficit of the Pension Fund of Russia.

Analysis of the Hajj Fund Management Based on the Fatwa of the National Sharia Council (DSN) Number 122 Concerning the Management of BPIH Fund and Special BPIH Based on Sharia Principles

Badan Pengelola Keuangan Haji (BPKH) has the full authority to manage the existing Haj pilgrimage funds. However, the current issue is how to oversee the management of the Haj pilgrimage funds, which have crossed 100 trillion The monitoring of these funds management is not simple, particularly because the source of the funds comes from the ummah, where it belongs to the ummah, especially the pilgrims, and the benefits should be returned to the pilgrims representing the ummah and also for the benefit of the people and nation. This study aims to describe the fatwa of the National Shariah Board No. 122 concerning Funds Management of BPIH and Special BPIH based on Sharia Principles and to analyze whether the management of Hajj Pilgrimage Funding Costs (BPIH) is under the fatwa. This research used qualitative data. The research that produces descriptive data in the form of non-numeric data, which is a symptom, data information, based on facts obtained from the field, then conclusions are drawn. The result showed that the management of the hajj Pilgrimage Cost (BPIH) was by following the DSN-MUI fatwa. The suitability of Sharia in the management of hajj funds can be seen from the government transferring these funds to the halal sector as confirmed in the Law no. 34 of 2014 emphasizes that the management of hajj funds must comply with sharia principles, namely the sector that is avoided from maisir, gharar, usury, and other.

Evaluation of the maintenance level within the ambits of budgetary provisions in universities

This research was therefore, aimed at evaluating the level of maintenance within the ambits of budgetary provisions in Universities. The methodology involved survey design, review of related literature, questionnaires, direct observations and interviews. The sample techniques involved both purposive and stratified random sampling applied on a population of 1300 staff, students and 84 buildings respectively. Data was analyzed using frequencies, percentages and mean scores. Pearson correlation coefficient, regression analysis and student t-test were employed in testing the hypotheses. Results revealed that maintenance of buildings in the institution is not effective. The research concluded that lack of building maintenance, funding and management decision play an important role in the physical condition of buildings which in turn affect staff productivity and students’ academic achievement. The study recommends among others regular annual budgetary allocation to building maintenance; review the budgets from time to time to accommodate inflationary trends and early release of funds. Management should explore other ways and means of generating and sourcing funds for maintenance as a result of restrictions on government subsidies to institutions.

ZIS (Zakat, Infaq And Alms) Funds Management Methods In Improving The Quality Of Mustahiq Life In BAZNAS Karanganyar

Purpose: This study aims to analyze the role of philanthropy (ZIS) in reducing poverty and improving the quality of life in the Karanganyar society district.Method: This type of research is field research using a qualitative descriptive approach and applying an intrinsic case study model. The research data was obtained from the annual report of BAZNAS Karanganyar, interviews, and field observations as well as literature study conducted as secondary data.Findings: The results of this study found that ZIS can solve various problems and contribute to improving the quality of life of the Karanganyar community. Through the collaboration of BAZNAS with the city government, there are more than 600 UPZs scattered to collect zakat in government agencies, private companies, and the community. ZIS is realized in 5 flagship programs of BAZNAS Karanganyar, which can encourage productivity (being) and simultaneously increase mustahik's participation in their environment, such as family, social, workplace, school, and so on. And mustahik have hope and optimism to improve the quality of life (becoming).Originality/Values: Provide information to the public how ZIS management methods in BAZNAS Karanganyar, relationships with the city government, and the synergy of BAZNAS programs to improve the quality of mustahik.life

Pengaruh Pengendalian Internal Terhadap Pengelolaan Dana Zakat Pada BAZNAS Di Provinsi Gorontalo

The research was aimed at finding out the influence of internal control on zakat funds management at the National Zakat Board (BAZNAS) in Gorontalo Province. The method employed in this research was a quantitative method. The population of this research was the whole of employees at the National Zakat Board in Gorontalo Province, which amounted to 91 employees. In addition, the sampling technique used was saturated sampling, where the numbers of samples as much as 30 people. The technique of data collection applied simple linier regression analysis. The finding showed that the internal factor positively influenced zakat funds management at the National Zakat Board (BAZNAS) in Gorontalo Provinces. The value of the coefficient of determination (R2) was 36,3%.