Mutual Fund Performance Comparison During Covid-19 Outbreak
Cindy Cleodora

Faculty of Economic, University of Indonesia
Jl. Salemba Raya No. 4, Jakarta Pusat 10430, Indonesia
cindycleodora[at]gmail.com

Abstract

This study aims to determine the comparison of mutual fund performance between money market, mixed, and equity mutual funds before and during Covid-19 outbreak. Performance measurement is done using Sharpe Ratio, Treynor Index, Jensen^s Alpha, and Fama-French Three Factor Model. Using purposive sampling method, this study used a sample of 304 mutual funds consisting of 52 money market mutual funds, 85 mixed mutual funds, and 167 equity mutual funds. The result showed that before Covid-19 outbreak, money market mutual fund have better performance before and during Covid-19 outbreak with Sharpe Ratio and Treynor Index method. Meanwhile, using Jensen^s Alpha and Fama-French Three Factor Model, mixed mutual funds performance surpassed money market and equity mutual funds.

Keywords: Covid-19- Mutual fund performance

Topic: Economics