Comparative Analysis of the Performance of PNM Saham Agresif and Other Conventional Stock Mutual Funds in Indonesia for the Period of 2019-2023

Abstract

This study aims to conduct a comparative analysis of mutual fund performance, focusing on the PNM Saham Agresif mutual fund and other conventional stock mutual funds in Indonesia for the 2019-2023 period. Using a quantitative approach and purposive sampling method, a sample of 26 mutual fund products was analyzed through the documentation technique. The performance was measured using the Sharpe, Treynor, and Jensen methods. The results showed significant differences in performance between PNM Saham Agresif and conventional stock mutual funds using the Sharpe and Jensen methods, but no significant difference was found using the Treynor method. These findings highlight that stock mutual fund performance is influenced by various factors such as interest rates, inflation, and market volatility. For investment managers, continuous market monitoring is essential to optimize portfolio performance. Additionally, prospective investors should carefully evaluate mutual fund portfolios with consistent longterm performance to achieve optimal returns while managing associated risks effectively.

Keywords: PNM Saham Agresif; Conventional Stock Mutual Fund; Sharpe Method; Treynor Method; Jensen Method.