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

UPI Challenges and Direction in Fund Management with Special Reference Banking Sector

After demonetization, there was a massive requirement for currency notes, but the government was unable to provide the required quantity of currency notes, and also Indian government wanted to promote cashless transactions. UPI is built over Immediate Payment Service (IMPS) for transferring funds using Virtual Payment Address (a unique ID provided by the bank). Unified Payments Interface is a payment system launched by (NPCI), which is National Payments Corporation of India, and is regulated by the (RBI) Reserve Bank of India, which provides the facility of instant fund transfer between two bank accounts online through payment apps. Digital transactions by UPI have been made very easy. The UPI service is available 24X7, and it is not like RTGS and NEFT, which do not work on holidays and non-banking hours. This will bring tremendous efficiency to the system and help India become a cashless economy. Keywords: Digital illiteracy, Online payments, cashless economy UPI, Mobile phone, digital payment mode

Akuntabilitas Pengelolaan Dana Desa Di Desa Umbulsari, Kabupaten Jember

This research was conducted to describe and study the Village Fund Management Accountability System from the planning, implementation and accountability stages. This research uses a qualitative exploratory method through a case study approach. This study uses interviews which are carried out in depth to each informant. The results of this study indicate that the implementation stage of the Village Fund in Umbulsari Village has implemented the principles of participation and transparency. For the implementation stage of village funds, the principles of participation, transparency and accountability have been implemented. Meanwhile, at the accountability stage, village funds have implemented the principle of accountability.

FINANCING MANAGEMENT OF SCHOOL OPERATIONAL FUND (BOS) IN IMPROVING LEARNING AT BABAHROT STATE JUNIOR HIGH SCHOOLS (SMPN) OF SOUTHWEST ACEH REGENCY

In achieving the management objectives used and the resources that run them, this research objectives are: knowing the planning, use, supervision, control, and obstacle of BOS fund management to improve the quality of learning. The data collection method used qualitative method and data collection techniques through: observation, interviews and documentation studies. The research subjects were the principal, vice principal, treasurer, school committee, vice curriculum, and teachers. The results showed that the planning was formulated through RAPBS or RKAS by involving the deputy head, treasurer and committee, the use of funds in accordance with technical guidelines, supervision carried out by schools and agencies, accountability in the form of reports reported by the treasurer, and the obstacles faced were the procurement of school necessities that are not as desired. This means that when procuring high-quality school needs, it must adjust to standard quality, then there will be no BOS fund overrun.Abstrak:Dalam mencapai tujuan organisasi dipengaruhi manajemen yang diterapkan dan sumber daya yang menjalankannya, sesuai dengan itu tujuan penelitian ini adalah: untuk mengetahui perencanaan, penggunaan, pengawasan, pertanggungjawaban serta kendala dalam pengelolaan dana BOS untuk meningkatkan kualitas pembelajaran. Metode pengumpulan data menggunakan metode kualitatif dan teknik pengumpulan data melalui: observasi, wawancara dan studi dokumentasi. Subjek penelitian adalah kepala sekolah, wakil kepala sekolah, bendahara, komite sekolah, wakilkurikulum, dan guru. Hasil penelitian menunjukan bahwa perencanaan dirumuskan melalui RAPBS atau RKAS dengan melibatkan Wakil Kepala, bendahara serta komite, penggunaan dana sesuai dengan juknis, pengawasan dilaksanakan oleh pihak sekolah dan dinas, pertanggungjawaban berupa laporan yang dilaporkan oleh bendahara, dan kendala yang dihadapi adalah pengadaan barang kebutuhan sekolah yang terkadang tidak sesuai dengan yang diinginkan. Artinya pada saat pengadaan kebutuhan sekolah dengan kualitas tinggi harus menyesuaikan kualitas yang standar tidak terjadi pembengkakan dana BOS.

MODEL PENGELOLAAN DANA DESA DAN PEMBERDAYAAN PETANI DI DESA PERBATASAN INDONESIA DENGAN TIMOR LESTE

<p>Village funds allocation has been provided to village government by central government starting in 2015. The provision of village funds aims at ingreasing equitable development in urban areas. This study aims to design a model of implementation of village funds management and farmer empowerment, with a case of Manusasi Village, Timor Tengah Utara Distict, bordering with Timor Leste. This research was conducted in August-September 2020. The methods used in this research were quantitative descriptive analysis and SEM based on variance, namely Partial Least Square (PLS). The sampling method used in this study was accidental sampling, with the chosen sample of 75 households from the total popultation 258 huosehold farmers. Results of this study indicated that planning had a significant effect on the evaluation process of village funds. The multiplier effect value of village funds in Manusasi Village was 1.39. There was no direct effect between physical capital, social capital, and human capital on the empowermeny of farming community in Manusasi Village. An important component of the implementation model of village fund management and farmer empowerment is the socialisation of the use of village funds which aims to increase public knowledge about village funds and build partnerships with universities or other institutions as sources of experts. The role of experts is to help improve village fund management and improve the quality of programs and planning. </p>

Faktor yang Memengaruhi Akuntabilitas Pengelolaan Dana Desa Di Kecamatan Denpasar Utara

Accountability is the responsibility of the village government regarding the management of village funds to the community in a transparent, honest, orderly and disciplined manner. The purpose of providing village funds is in line with Law no. 6 of 2014 which is to improve the welfare of the community. This study aims to determine the effect of village head leadership, village apparatus competence and community participation on fund management accountability in 8 villages in North Denpasar District with 178 respondents. Data collection by using a questionnaire. The data analysis technique used is multiple linear regression analysis. The results showed that the leadership of the village head and the competence of the village apparatus had a positive influence on the accountability of village fund management in North Denpasar District, while community participation had no significant effect on the accountability of village fund management in North Denpasar District. Keywords : Accountability; Leadership; Competence; And Community Participation.