Performance Of Islamic Unit Trusts During The 2007 Global Financial Crisis: Evidence From Malaysia
By focusing on the Malaysian Islamic unit trusts over the period of January 2000 to December 2009, this study attempts to analyse the performance of the Islamic unit trusts in various economic conditions; during a crisis period and non-crisis period. The adjusted Sharpe index, adjusted Jensen Alp...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Asian Academy of Management (AAM)
2012
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| Subjects: | |
| Online Access: | http://eprints.usm.my/36581/ http://eprints.usm.my/36581/1/AAMJ_17.2.4.pdf |
| _version_ | 1848877950487756800 |
|---|---|
| author | H. Kassim, Salina Kamil, Saqinah |
| author_facet | H. Kassim, Salina Kamil, Saqinah |
| author_sort | H. Kassim, Salina |
| building | USM Institutional Repository |
| collection | Online Access |
| description | By focusing on the Malaysian Islamic unit trusts over the period of January 2000 to
December 2009, this study attempts to analyse the performance of the Islamic unit trusts
in various economic conditions; during a crisis period and non-crisis period. The
adjusted Sharpe index, adjusted Jensen Alpha index, and Treynor index are adopted to
compare the performance of the Islamic unit trusts against the market benchmark and
risk-free return. In measuring risk and diversification, the study relies on the standard
deviation and R2 coefficient of determination, respectively. The findings reveal that
during the non-crisis period, the performance of the Islamic unit trusts is comparable to
that of the market benchmark, while during the crisis period, the Islamic unit trusts
perform better compared to the non-crisis period. These findings suggests that the
Islamic unit trust funds can be an ideal hedging instrument during a down market and
provide potential portfolio diversification benefits for the investors. Based on these
findings, the investors could strategize and diversify their portfolio accordingly during
different market conditions |
| first_indexed | 2025-11-15T17:23:35Z |
| format | Article |
| id | usm-36581 |
| institution | Universiti Sains Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T17:23:35Z |
| publishDate | 2012 |
| publisher | Asian Academy of Management (AAM) |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | usm-365812017-09-18T09:06:21Z http://eprints.usm.my/36581/ Performance Of Islamic Unit Trusts During The 2007 Global Financial Crisis: Evidence From Malaysia H. Kassim, Salina Kamil, Saqinah HD28-70 Management. Industrial Management By focusing on the Malaysian Islamic unit trusts over the period of January 2000 to December 2009, this study attempts to analyse the performance of the Islamic unit trusts in various economic conditions; during a crisis period and non-crisis period. The adjusted Sharpe index, adjusted Jensen Alpha index, and Treynor index are adopted to compare the performance of the Islamic unit trusts against the market benchmark and risk-free return. In measuring risk and diversification, the study relies on the standard deviation and R2 coefficient of determination, respectively. The findings reveal that during the non-crisis period, the performance of the Islamic unit trusts is comparable to that of the market benchmark, while during the crisis period, the Islamic unit trusts perform better compared to the non-crisis period. These findings suggests that the Islamic unit trust funds can be an ideal hedging instrument during a down market and provide potential portfolio diversification benefits for the investors. Based on these findings, the investors could strategize and diversify their portfolio accordingly during different market conditions Asian Academy of Management (AAM) 2012 Article PeerReviewed application/pdf en http://eprints.usm.my/36581/1/AAMJ_17.2.4.pdf H. Kassim, Salina and Kamil, Saqinah (2012) Performance Of Islamic Unit Trusts During The 2007 Global Financial Crisis: Evidence From Malaysia. Asian Academy of Management Journal (AAMJ), 17 (2). pp. 1-20. ISSN 1394-2603 http://web.usm.my/aamj/17.2.2012/AAMJ_17.2.4.pdf |
| spellingShingle | HD28-70 Management. Industrial Management H. Kassim, Salina Kamil, Saqinah Performance Of Islamic Unit Trusts During The 2007 Global Financial Crisis: Evidence From Malaysia |
| title | Performance Of Islamic Unit Trusts
During The 2007 Global Financial Crisis:
Evidence From Malaysia |
| title_full | Performance Of Islamic Unit Trusts
During The 2007 Global Financial Crisis:
Evidence From Malaysia |
| title_fullStr | Performance Of Islamic Unit Trusts
During The 2007 Global Financial Crisis:
Evidence From Malaysia |
| title_full_unstemmed | Performance Of Islamic Unit Trusts
During The 2007 Global Financial Crisis:
Evidence From Malaysia |
| title_short | Performance Of Islamic Unit Trusts
During The 2007 Global Financial Crisis:
Evidence From Malaysia |
| title_sort | performance of islamic unit trusts
during the 2007 global financial crisis:
evidence from malaysia |
| topic | HD28-70 Management. Industrial Management |
| url | http://eprints.usm.my/36581/ http://eprints.usm.my/36581/ http://eprints.usm.my/36581/1/AAMJ_17.2.4.pdf |