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Analisis Proses dan Strategi Portfolio Pelaburan Berteraskan Syariah

Kamarulzaman, Bakri (1999) Analisis Proses dan Strategi Portfolio Pelaburan Berteraskan Syariah. Masters thesis, Universiti Utara Malaysia.

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Abstract

This project paper was carried out at Amanah Saham Kedah Berhad (ASKB). The approach taken by the research is a case study method. The research intends to increase and enhance knowledge about syariah investment portfolio management by the Islamic unit trust fund managers in Malaysia. The main objective of the research is to explore the selection analysis and the process of syariah investment portfolio management that was undertaken by ASKB. This research also explored the investment strategies applied by ASKB at different market perspectives such as bullish, bearish and current condition. The data was collected from interviews, documents analysis and observation and direct involvement at extraordinary unit holders meetings. The finding of the research was discussed in three chapters based on the objective of this research that is to study the ASKB analysis, process and investment portfolio strategies. Firstly, the study found that the selection analysis carried out was fundamental analysis and technical analysis. The fundamental analysis is used to define and ensure the right and profitable securities or asset with potential to contribute to reasonable return. The fundamental analysis considered economic, industrial and companies analysis. The technical analysis is used to determine good timing of transactions such as selling, buying or holding the portfolio of investment. However, these analysis were only done for the security which is already approved by Securities Commission Syariah Advisory Council and ASKB Syariah Supervisory Committee. Secondly, the process of syariah investment scheme includes the cleansing mechanism of investments from none halal business activities, monitoring of company activity and the action to be taken if the halal status changing in ASK investment portfolio. Finally, the study found that in bullish market, the investment strategies is to increase investment portfolio in capital market and reduce investment in money market and the contrary is done in bearish market, for example increase investment portfolio in money market and reduce investment portfolio in capital market. The aim of these strategies is to increase return and reduce the risk of losses. Furthermore, the study also found that the diversification of asset and economic cycle strategies are the main strategies used to increase return and reduce risk in investment portfolio. Generally, the strategies implemented by ASKB are not significantly different from a conventional investment, which have been discussed in the literature review. The main difference is ASKB investment portfolio is only limited to securities and assets which are approved by the Securities Commission Syariah Advisory Council and ASKB Syariah Supervisory Committee.

Item Type: Thesis (Masters)
Uncontrolled Keywords: Investment Portfolio Management, Islamic Unit Trust, Case Studies, Amanah Saham Kedah Berhad (ASKB)
Subjects: H Social Sciences > HG Finance
Divisions: Faculty and School System > Sekolah Siswazah
Depositing User: Mrs Shamsiah Mohd Shariff
Date Deposited: 29 Oct 2009 06:13
Last Modified: 24 Jul 2013 12:07
URI: http://etd.uum.edu.my/id/eprint/579

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