UUM Electronic Theses and Dissertation
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Islamic and conventional bond funds performance in Malaysia: a comparative study

M. Usha, Muruthi (2019) Islamic and conventional bond funds performance in Malaysia: a comparative study. Masters thesis, Universiti Utara Malaysia.

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This study is conducted with the aim to compare the performance of Islamic bond funds to the performance conventional bond funds. Two samples were generated and utilised in this study and the performance comparisons are also made 2 samples (first sample: 21 Islamic Bond funds and 49 Conventional Bond funds and second sample: 18 Islamic
Bond and 45 Conventional Bond funds are used respectively) to cater for performance inconsistency of the funds and the influence of economic conditions. The first sample is
intended to maximise the number of bond funds included in the study and the length of the study by including the data for all the active bond funds over the period from December 2010 to May 2016. In order to overcome biasness due to market condition or market influence, only Jensen Index which is market and risk adjust return is used as performance measure and the basis of comparison for funds in this sample. The second sample is set to allow for a fair comparison between funds that are launched at different years when risk adjusted return, namely Sharpe, Adjusted Sharpe, Jensen and Adjusted
Jensen and Treynor Index, are used. In addition to non-adjusted and risk adjusted return, the risk and diversification of the funds are also compared. The results provides evidence that Islamic bonds are more stable than conventional bonds.

Item Type: Thesis (Masters)
Supervisor : Hanafi, Norshafizah
Item ID: 8321
Uncontrolled Keywords: Conventional bond funds, Islamic bond funds, Performance, Risk
Subjects: H Social Sciences > HG Finance
Divisions: Othman Yeop Abdullah Graduate School of Business
Date Deposited: 02 Jun 2021 09:16
Last Modified: 02 Jun 2021 09:16
Department: Othman Yeop Abdullah Graduate School of Business
Name: Hanafi, Norshafizah
URI: https://etd.uum.edu.my/id/eprint/8321

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