Macroeconomic Determinants Of Net Asset Value Of Islamic Equity Unit Trust Funds

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Macroeconomic Determinants of Net Asset Value of Islamic Equity Unit Trust Funds

Author : Anwar Hasan Abdullah Othman
Publisher :
ISBN 13 :
Total Pages : 284 pages
Book Rating : 4.:/5 (957 download)

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Book Synopsis Macroeconomic Determinants of Net Asset Value of Islamic Equity Unit Trust Funds by : Anwar Hasan Abdullah Othman

Download or read book Macroeconomic Determinants of Net Asset Value of Islamic Equity Unit Trust Funds written by Anwar Hasan Abdullah Othman and published by . This book was released on 2011 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this study is to examine the relationship between the NAV of the Islamic equity unit trust funds and macroeconomic variables, namely consumer price index, Industrial production index, three-month treasury bill rate, money supply (M3) and crude oil price as well as the recent global financial crisisin Malaysian financial industry. The analysis based on monthly closing price for a sample of 68 equity unit trust fundsovera period of 6 years, from January 2004 to December 2009, where the years from 2007 to 2009 are consideredas crisis period.Multiple regression and analysis model has been adopted for analyzingthe relationship. The study also compares the performance of Islamic and conventional equity unit trust funds for Malaysian capital market. The major findings of the study show that, CPI, IPI, M3, and crude oil price have significant relationship with the NAV of the Islamic equity unit trust funds in Malaysian capital market. In addition, the current global financial crisis records the highest positive relationship with the NAV of the Islamic unit trust funds. However, the three-month treasury bill rate has no statistically significant relationship with the NAV of the Islamic equity unit trust funds. The results also reveal that Islamic equity unit trust funds achieve higher capital appreciation than the conventional equity unit trust funds. This study facilitates the investors in taking effective investment decisions by estimating the future direction of NAV of the Islamic equity unit trust funds using the expected trend in the macroeconomic variables such as CPI, IPI and Oil Price as well as the effect of the recent global financial crisis. Therefore, the study suggests that macroeconomic policy should be designed keeping in view the response of the Islamic unit trust industry as the efficient market respond to the new information. In addition, the empirical result of this study also will present the investors with new prospective of selecting the type of funds as the part of their portfolio selection, whether Islamic equity fund or conventional equity fund.

Micro and Macroeconomic Determinants of Net Asset Value of Islamic Equity Unit Trust Funds

Author : Anwar Hasan Abdullah Othman
Publisher :
ISBN 13 :
Total Pages : 586 pages
Book Rating : 4.:/5 (957 download)

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Book Synopsis Micro and Macroeconomic Determinants of Net Asset Value of Islamic Equity Unit Trust Funds by : Anwar Hasan Abdullah Othman

Download or read book Micro and Macroeconomic Determinants of Net Asset Value of Islamic Equity Unit Trust Funds written by Anwar Hasan Abdullah Othman and published by . This book was released on 2015 with total page 586 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, the Islamic unit trust industry in Malaysia has experienced rapid growth and continues to grow at a fast pace. This high growth highlights the uniqueness of the Islamic unit trust investment which diversifies Sharī`ah compliant asset investments and provides several advantages. Even though the unit trust industry has witnessed high growth in portfolio size, performances, and regulations, various aspects of the industry remain poorly understood due to a general lack of information on the funds' unit price behaviours and mechanisms. Forecasting the price movements in the equity unit trust industry has been a major challenge for various investors, management funds, brokers, and policy makers. This research investigates the effects of microeconomic and macroeconomic variables and the 2007-2008 Global Financial Crisis on the NAV of the Islamic equity unit trust funds. This research utilised the Autoregressive Distributed Lag (ARDL) model and the Vector Autoregression (VAR) model to analyse this relationship over the January 2006 to December 2012 period using monthly data. The results showed a significant long-run equilibrium relationship between the Fund Dividends, Fund Historical Performance, Fund Size, Hedge Funds, Industrial Production Index, Money Supply (M3), Foreign Exchange Rate, Crude Oil Price, Corruption Index, and the NAV of the Islamic equity unit trust funds in the Malaysian capital market. In addition, the causality tests results showed that the Industrial Production Index, National Political Election, and 2007/2008 Global Financial Crisis have significant unidirectional causal effects on the NAV of Islamic equity unit trust funds, while Crude Oil Price has bidirectional causal effect with the NAV of the Islamic equity unit trust funds. The findings of this research will assist investors, fund managers, industry players, and policy makers to estimate and predict the future trend direction of the NAV of Islamic equity unit funds and accordingly make sufficient investment decisions. Key words: Net Asset Value, Islamic Unit Trust, Micro and Macroeconomic Variables, Malaysia.

Relationship Between Macroeconomic Variables and Net Asset Value (NAV) of Islamic Equity Unit Trust Funds

Author : Anwar Hasan Abdullah Othman
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Relationship Between Macroeconomic Variables and Net Asset Value (NAV) of Islamic Equity Unit Trust Funds by : Anwar Hasan Abdullah Othman

Download or read book Relationship Between Macroeconomic Variables and Net Asset Value (NAV) of Islamic Equity Unit Trust Funds written by Anwar Hasan Abdullah Othman and published by . This book was released on 2017 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: Objective - Even though the unit trust industry witnessed high growth in portfolios size, performances and regulations, however, there is still insufficient understanding of various aspects of the industry such as the lack of information on the funds' unit price behavior and their trend in the long-term investment. This study, therefore, aims to investigate the long-run relationship between the chosen macroeconomic factors and the NAV of the Islamic equity unit trust funds as well as the effect of the (2007-2008) global financial crisis on the performance of Islamic equity unit trust funds and their unit prices. Methodology/Technique - The study utilized Vector Autoregression (VAR) framework in order to analyze this relationship over the period January 2006 to December 2012 using monthly data. Findings - The findings of the investigations confirmed that the selected macro-economic variables do share long-run relationship with the NAV of the Islamic equity unit trust funds in the Malaysian capital market. Novelty - A successful innovation of the relationship between the funds NAV and the selected macroeconomic variables will assist the entire interested group, such as, investors, management of the funds, government agencies, industry players and policy makers to estimate the future trend direction of the NAV and accordingly decide on the operational, managerial, and sustainable growth decisions.

Islamic Equity Unit Trust Funds

Author : Anwar Al Abbasy
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783845472454
Total Pages : 144 pages
Book Rating : 4.4/5 (724 download)

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Book Synopsis Islamic Equity Unit Trust Funds by : Anwar Al Abbasy

Download or read book Islamic Equity Unit Trust Funds written by Anwar Al Abbasy and published by LAP Lambert Academic Publishing. This book was released on 2011-09 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this study is to examine the relationship between the NAV of the Islamic equity unit trust funds and selected macroeconomic variables as well as the effect of the recent global financial crisis in the Malaysian financial industry. The study also compares the performance of Islamic and conventional unit trust funds for Malaysian capital market. This study facilitates the investors in making effective investment decisions by estimating the future direction of NAV of the Islamic equity unit trust fund using the expected trend in the macroeconomic variables. In addition, the empirical result of this study also presents the investors with new perspective of selecting the type of funds in their portfolio selection, whether Islamic equity fund or conventional equity fund.

An Overview of Islamic Finance

Author : Mr.Mumtaz Hussain
Publisher : International Monetary Fund
ISBN 13 : 1513565621
Total Pages : 35 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis An Overview of Islamic Finance by : Mr.Mumtaz Hussain

Download or read book An Overview of Islamic Finance written by Mr.Mumtaz Hussain and published by International Monetary Fund. This book was released on 2015-06-02 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations.

Monetary and Financial Statistics Manual

Author : International Monetary Fund. Statistics Dept.
Publisher : International Monetary Fund
ISBN 13 : 9781557759740
Total Pages : 176 pages
Book Rating : 4.7/5 (597 download)

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Book Synopsis Monetary and Financial Statistics Manual by : International Monetary Fund. Statistics Dept.

Download or read book Monetary and Financial Statistics Manual written by International Monetary Fund. Statistics Dept. and published by International Monetary Fund. This book was released on 2000-09-14 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Manual offers guidelines for the presentation of monetary and financial statistics. It provides a set of tools for identifying, classifying, and recording stocks and flows of financial assets and liabilities, describes the standard, analytically oriented frame works in which the statistics may be presented, and identifies a set of analytically useful aggregates within those frameworks. The concepts and principles set out in the Manual are harmonized with those of the System of National Accounts 1993.

Handbook of Islamic Banking

Author : Kabir Hassan
Publisher : Edward Elgar Publishing
ISBN 13 : 9781847205414
Total Pages : 472 pages
Book Rating : 4.2/5 (54 download)

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Book Synopsis Handbook of Islamic Banking by : Kabir Hassan

Download or read book Handbook of Islamic Banking written by Kabir Hassan and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Islamic Banking comprises 25 studies by leading international experts on Islamic banking and finance specially commissioned to analyse the various debates and the current state of play in the field. From its origins thirty years ago, Islamic banking has expanded rapidly to become a distinctive and fast growing segment of the international banking and capital markets. Despite this expansion, Islamic banking still remains poorly understood in many parts of the Muslim world and continues to be a mystery in much of the West. This comprehensive Handbook provides a succinct analysis of the workings of Islamic banking and finance, accessible to a wide range of readers. At the same time, it seeks to bring the current research agenda and the main issues on Islamic banking before a wider audience. Islamic banking offers, as an alternative to conventional interest-based financing methods, a wide variety of financial instruments and investment vehicles based on profit-and-loss sharing arrangements. These are all explored in detail along with other subjects such as governance and risk management, securities and investment, structured financing, accounting and regulation, economic development and globalization. M. Kabir Hassan, Mervyn Lewis and the other contributors have created an authoritative and original reference work, which will contribute to a wider understanding of Islamic banking as well as provoking further discussion and research. It will be invaluable to all scholars, researchers and policymakers with an interest in this subject.

Economic Development and Islamic Finance

Author : Zamir Iqbal
Publisher : World Bank Publications
ISBN 13 : 0821399535
Total Pages : 376 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Economic Development and Islamic Finance by : Zamir Iqbal

Download or read book Economic Development and Islamic Finance written by Zamir Iqbal and published by World Bank Publications. This book was released on 2013-08-05 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although Islamic finance is one of the fastest growing segments of emerging global financial markets, its concepts are not fully exploited especially in the areas of economic development, inclusion, access to finance, and public policy. This volume is to improve understanding of the perspective of Islamic finance on economic development, social and economic justice, human welfare, and economic growth.

Islamic Capital Market

Author : Malaysia. Suruhanjaya Sekuriti
Publisher :
ISBN 13 : 9789835371127
Total Pages : 0 pages
Book Rating : 4.3/5 (711 download)

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Book Synopsis Islamic Capital Market by : Malaysia. Suruhanjaya Sekuriti

Download or read book Islamic Capital Market written by Malaysia. Suruhanjaya Sekuriti and published by . This book was released on 2011-11-16 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic Capital Market is a series of six titles endorsed by the Securities Commission Malaysia and published by LexisNexis. The publication of the books is in response to the expanding role of Islamic capital market, resulting from the phenomenal growth of Islamic capital market globally. The six titles provide an understanding of the basic concepts of Islamic capital market, its features and philosophy, the applicable regulatory principles, legal and accounting frameworks, important challenges, key trends, fundamentals and the governing principles of Islamic commercial law (Fiqh al-muamalat), as well as the distinctive features and structures of Islamic equities and Islamic securities (sukuk).It is an excellent reference for professionals in both Islamic and conventional capital markets. Anyone aspiring to become a practitioner or be engaged in the Islamic capital market will find these books useful as reference materials. The six titles in the Islamic Capital Market series are:(1) Introduction to Islamic Capital Market(2) Islamic Commercial Law (Fiqh al-Muamalat) (3) Regulatory Requirements, Legal Documentation, Accounting, Auditing and Taxation in the Islamic Capital Market (4) Islamic Equity Market(5) Islamic Securities (Sukuk) Market(6) Valuation of Securities

Islamic Banking

Author : Mr.Luca Errico
Publisher : International Monetary Fund
ISBN 13 : 1451980418
Total Pages : 33 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Islamic Banking by : Mr.Luca Errico

Download or read book Islamic Banking written by Mr.Luca Errico and published by International Monetary Fund. This book was released on 1998-03-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the implications of Islamic precepts on banks’ structure and activities, focusing on banking supervision issues. It points out and discusses these issues in the context of a paradigm version of Islamic banking, as well as in frameworks that fall between the paradigm version and conventional banking. The case of Islamic banks operating in a conventional system is also examined.

Private Finance for Development

Author : Hilary Devine
Publisher : International Monetary Fund
ISBN 13 : 1513571567
Total Pages : 161 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Private Finance for Development by : Hilary Devine

Download or read book Private Finance for Development written by Hilary Devine and published by International Monetary Fund. This book was released on 2021-05-14 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Covid-19 pandemic has aggravated the tension between large development needs in infrastructure and scarce public resources. To alleviate this tension and promote a strong and job-rich recovery from the crisis, Africa needs to mobilize more financing from and to the private sector.

International Convergence of Capital Measurement and Capital Standards

Author :
Publisher : Lulu.com
ISBN 13 : 9291316695
Total Pages : 294 pages
Book Rating : 4.2/5 (913 download)

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Book Synopsis International Convergence of Capital Measurement and Capital Standards by :

Download or read book International Convergence of Capital Measurement and Capital Standards written by and published by Lulu.com. This book was released on 2004 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financial Sector Crisis and Restructuring

Author : Carl-Johan Lindgren
Publisher :
ISBN 13 : 9781557758712
Total Pages : 103 pages
Book Rating : 4.7/5 (587 download)

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Book Synopsis Financial Sector Crisis and Restructuring by : Carl-Johan Lindgren

Download or read book Financial Sector Crisis and Restructuring written by Carl-Johan Lindgren and published by . This book was released on 1999 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: An IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.

Practical Portfolio Performance Measurement and Attribution

Author : Carl R. Bacon
Publisher : John Wiley & Sons
ISBN 13 : 1119995477
Total Pages : 488 pages
Book Rating : 4.1/5 (199 download)

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Book Synopsis Practical Portfolio Performance Measurement and Attribution by : Carl R. Bacon

Download or read book Practical Portfolio Performance Measurement and Attribution written by Carl R. Bacon and published by John Wiley & Sons. This book was released on 2011-02-23 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: Performance measurement and attribution are key tools in informing investment decisions and strategies. Performance measurement is the quality control of the investment decision process, enabling money managers to calculate return, understand the behaviour of a portfolio of assets, communicate with clients and determine how performance can be improved. Focusing on the practical use and calculation of performance returns rather than the academic background, Practical Portfolio Performance Measurement and Attribution provides a clear guide to the role and implications of these methods in today's financial environment, enabling readers to apply their knowledge with immediate effect. Fully updated from the first edition, this book covers key new developments such as fixed income attribution, attribution of derivative instruments and alternative investment strategies, leverage and short positions, risk-adjusted performance measures for hedge funds plus updates on presentation standards. The book covers the mathematical aspects of the topic in an accessible and practical way, making this book an essential reference for anyone involved in asset management.

Socially Responsible Investment

Author : Russell Sparkes
Publisher : John Wiley & Sons
ISBN 13 : 0470856580
Total Pages : 422 pages
Book Rating : 4.4/5 (78 download)

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Book Synopsis Socially Responsible Investment by : Russell Sparkes

Download or read book Socially Responsible Investment written by Russell Sparkes and published by John Wiley & Sons. This book was released on 2003-03-14 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over recent years there has been rapid consumer-led growth in investing in socially responsible companies to the extent that it has had an influence on corporate policies. New regulations recognise the public interest by requiring all pension funds to declare their ethical policy. Investors can no longer just consider the financial aspects of a company before investing but also have to consider the complex world of ethical investments. Should the ethical policy take precedence over the financial aspects? Should policies be inclusive or exclusive? What percentage of a company's income has to come from unacceptable sources before the source is excluded? Should any exclusion policy also extend to those involved in selling or transporting goods deemed unacceptable? This is the first book to look at socially responsible investment from the perspective of the institutional investor, who will be led through the complex dilemmas of socially responsible investment with practical examples and advice.

Coordinated Portfolio Investment Survey Guide (second edition)

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1589060938
Total Pages : 167 pages
Book Rating : 4.5/5 (89 download)

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Book Synopsis Coordinated Portfolio Investment Survey Guide (second edition) by : International Monetary Fund

Download or read book Coordinated Portfolio Investment Survey Guide (second edition) written by International Monetary Fund and published by International Monetary Fund. This book was released on 2002-05-10 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the coordinated portfolio investment survey (CPIS) guide. The objectives of CPIS are to collect comprehensive information, with geographical detail on the country of residence of the issuer, on the stock of cross-border equities, long-term bonds and notes, and short-term debt instruments for use in the compilation or improvement of international investment position statistics on portfolio investment capital. This paper discusses the scope and modalities of the CPIS. It also presents key findings of the 1997 CPIS and 2001 CPIS.

Multi-Country Report

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484303016
Total Pages : 102 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Multi-Country Report by : International Monetary Fund. Middle East and Central Asia Dept.

Download or read book Multi-Country Report written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2017-06-21 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: This background paper, which is a supplement to the board paper on “Ensuring Financial Stability in Countries with Islamic Banking (IB) Sectors”, presents country experiences with reforms to strengthen regulatory oversight of the IB sector. It reviews experiences with and the progress made in adapting prudential, safety nets and resolution frameworks to the specifics of IB. The selection of several countries from a range of regions with different levels of development and approaches to IB was designed to provide a representative sample of country experiences so as to enrich the policy conclusions. Such a multiplicity of experiences can help to identify common challenges that countries face in reforming their regulatory frameworks and to distill best practices. The countries, for which detailed case studies have been undertaken, are: Bahrain, Djibouti, Indonesia, Kenya, Kuwait, Malaysia, Nigeria, Pakistan, Sudan, Turkey and the United Kingdom.