ANALISIS KINERJA REKSA DANA SAHAM DENGAN MENGGUNAKAN METODE SHARPE DAN JENSEN UNTUK PERIODE 2005 – 2009
Oleh TRISIWI PUJIARTI H24066047
PROGRAM SARJANA MANAJEMEN PENYELENGGARAAN KHUSUS DEPARTEMEN MANAJEMEN FAKULTAS EKONOMI DAN MANAJEMEN INSTITUT PERTANIAN BOGOR BOGOR 2010
ANALISIS KINERJA REKSA DANA SAHAM DENGAN MENGGUNAKAN METODE SHARPE DAN JENSEN UNTUK PERIODE 2005 – 2009
SKRIPSI Sebagai salah satu syarat untuk memperoleh gelar SARJANA EKONOMI pada Program Sarjana Manajemen Penyelenggaraan Khusus Departemen Manajemen Fakultas Ekonomi dan Manajemen Institut Pertanian Bogor
Oleh TRISIWI PUJIARTI H24066047
PROGRAM SARJANA MANAJEMEN PENYELENGGARAAN KHUSUS DEPARTEMEN MANAJEMEN FAKULTAS EKONOMI DAN MANAJEMEN INSTITUT PERTANIAN BOGOR BOGOR 2010
Judul Skripsi : Analisis Kinerja Reksa Dana Saham Dengan Menggunakan Metode Sharpe Dan Jensen Untuk Periode 2005-2009 Nama
: Trisiwi Pujiarti
NIM
: H24066047
Menyetujui,
Dosen Pembimbing
(Farida Ratna Dewi, SE, MM) NIP : 197103072005012001
Mengetahui, Ketua Departemen
(Dr.Ir. Jono M.Munandar.M.Sc) NIP : 19610123 198601 1002
Tanggal Lulus :
RINGKASAN TRISIWI PUJIARTI. H24066047. Analisis Kinerja Reksa Dana Saham Dengan menggunakan Metode Sharpe dan Jensen Untuk Periode 2005 – 2009. Di bawah bimbingan FARIDA RATNA DEWI. Setiap pilihan investasi untuk menghasilkan imbal hasil di masa datang mengandung risiko karena menyangkut masa datang yang mengandung ketidakpastian, yang berarti mengandung unsur risiko bagi investor. Umumnya, risiko selalu terdapat pada setiap alternatif investasi, tetapi besar kecilnya risiko tersebut tergantung pada jenis investasinya. Makin tinggi imbal hasil yang diharapkan akan memiliki kadar risiko yang tinggi juga, high risk high return. Masing-masing instrumen investasi memiliki tingkat risiko yang berbeda. ”Don’t put all your eggs into one basket” adalah peringatan yang sering dikumandangkan kepada investor yang mengisyaratkan upaya untuk meminimalisasi risiko dari setiap alternatif investasi dengan berinvestasi pada portofolio yang terdiversifikasi untuk menghindari kerugian secara total (total loss). Tujuan yang ingin dicapai dalam penelitian ini adalah (1) Untuk mengetahui kinerja masing-masing reksa dana saham berdasar metode Sharpe tahun 2005, 2006, 2007, 2008, 2009 dan selama tahun 2005-2009 dan (2) Untuk mengetahui kinerja masing-masing reksa dana saham berdasar metode Jensen tahun 2005, 2006, 2007, 2008, 2009 dan selama tahun 2005-2009. Penelitian ini dilaksanakan di Jakarta pada bulan April hingga bulan Juni tahun 2010 terhadap reksa dana saham yang dikelola oleh sepuluh manajer investasi dengan dana kelolaan terbesar pada akhir bulan Desember 2009 untuk periode tahun 2005 hingga tahun 2009. Berdasarkan metode Sharpe, kinerja reksa dana saham paling baik adalah: Tahun 2005 (reksa dana TRIM Kapital), Tahun 2006 (reksa dana TRIM Kapital), Tahun 2007 (reksa dana Fortis Ekuitas), Tahun 2008 (reksa dana Batavia Dana Saham), Tahun 2009 (reksa dana Schroder Dana Prestasi Plus), Selama tahun 2005-2009 (reksa dana Schroder Dana Prestasi Plus). Berdasarkan metode Jensen, kinerja reksa dana saham paling adalah: Tahun 2005 (reksa dana TRIM Kapital), Tahun 2006 (reksa dana Fortis Pesona), Tahun 2007 (reksa dana Fortis Ekuitas), Tahun 2008 (reksa dana Schroder Dana Prestasi Plus), Tahun 2009 (reksa dana Fortis Ekuitas), Selama tahun 2005-2009 (reksa dana Fortis Ekuitas). Dengan adanya pemeringkatan atas kinerja reksa dana saham tersebut, tentunya dapat membantu investor maupun calon investor dalam menilai baik buruknya suatu reksa dana. Namun pemeringkatan ini bukan merupakan gambaran mutlak bahwa kemampuan manajer investasi dalam menghasilkan kinerja reksa dana saham dengan peringkat tertinggi lebih baik dibandingkan dengan kemampuan manajer investasi lainnya.
RIWAYAT HIDUP
Penulis dilahirkan di kota Jakarta pada tanggal 9 Maret 1969 dan merupakan anak ketiga dari delapan bersaudara dari pasangan (Alm.) Ramdani dan Suharti. Penulis telah lulus pendidikan sekolah dasar pada tahun 1983 di SDN Pisangan Timur 01 Pagi, Jakarta, pendidikan tingkat menengah pertama pada tahun 1985 di SMP PSKD III, Jakarta dan tingkat menengah atas pada tahun 1988 di SMEA II PSKD, Kramat Sentiong, Jakarta. Selanjutnya penulis melanjutkan pendidikan di Akademi Bahasa Asing “Indonesia”, Jakarta atau ABA Cikini dan lulus sebagai Diploma III pada tahun 1992. Penulis mengawali karirnya dengan bekerja pada PT Aqua Golden Mississippi pada bulan September 1992.
Pada awal tahun 1993, penulis
bergabung pada perusahaan manajer investasi asing yaitu PT MeesPierson Finas Investment Management (saat ini telah berubah nama menjadi BNP Paribas Investment Partner). Pada bulan Februari 2003 hingga saat ini, penulis memutuskan untuk bergabung dengan perusahaan manajer investasi lokal yaitu PT Mandiri Manajemen Investasi yang merupakan subsidiari dari PT Bank Mandiri (Persero) Tbk., dan bekerja dibagian Marketing & Product Development. Saat bekerja pada PT Mandiri Manajemen Investasi, penulis memutuskan untuk melanjutkan studinya pada Program Sarjana Manajemen Penyelenggaraan Khusus, Departemen Manajemen, Fakultas Ekonomi dan Manajemen Institut Pertanian Bogor.
iii
KATA PENGANTAR
Dengan mengucapkan syukur Alhamdulillah, penulis panjatkan ke kehadirat Allah SWT yang telah melimpahkan rahmat kasih sayang dan karuniaNya sehingga skripsi berjudul Analisis Kinerja Reksa Dana Saham Dengan Menggunakan Metode Sharpe dan Jensen Untuk Periode 2005 - 2009 dapat di selesaikan. Adapun tujuan penelitian ini disusun adalah dalam rangka menyelesaikan tugas akhir di Program Sarjana Manajemen Penyelenggaraan Khusus Departemen Manajemen, Fakultas Ekonomi dan Manajemen, Institut Pertanian Bogor. Pada kesempatan ini penulis mengucapkan terima kasih yang sebesarbesarnya kepada : 1.
Ibu Farida Ratna Dewi, SE, MM, selaku dosen pembimbing yang telah meluangkan waktunya untuk memeriksa dan memberikan pengarahan dengan sabar kepada penulis untuk menyelesaikan penelitian ini.
2.
Ibu Wita Juwita Ermawati, STP, MM dan Ibu Hardiana Widyastuti, S.Hut, MM yang telah berkenan menjadi dosen penguji.
3.
Staf Pengajar dan Staf Administrasi Program Sarjana Manajemen Penyelenggaraan Khusus yang telah membimbing dan membantu penulis selama
menempuh
pendidikan
di
Program
Sarjana
Manajemen
Penyelenggaraan Khusus Departemen Manajemen, Fakultas Ekonomi dan Manajemen, Institut Pertanian Bogor. 4.
Kedua orang tua, khususnya Ibu atas doa dan perhatian yang telah diberikan baik secara moril maupun materil selama ini.
5.
Suami dan anak-anak tercinta (Harish dan Hadrian), atas doa dan perhatian serta dukungan yang telah diberikan baik secara moril maupun materil selama ini.
6.
PT Mandiri Manajemen Investasi khususnya kepada Bapak Abiprayadi Riyanto dan Bapak Andreas Muljadi Gunawidjaja atas dukungan dan sarannya.
iv
7.
Seluruh rekan-rekan di PT Mandiri Manajemen Investasi yang telah memberikan dukungan dan perhatiannya.
8.
Bapak Denny R. Thaher, atas dukungan dan saran kepada penulis untuk melanjutkan pendidikan.
9.
Teman-teman penulis pada Program Sarjana Manajemen Penyelenggaraan Khusus Ekstensi Manajemen atas dukungan dan perhatiannya. Penulis menyadari bahwa laporan skripsi ini masih jauh dari sempurna.
Untuk itu penulis mengharapkan kritik dan saran yang bersifat membangun demi kesempurnaan skripsi ini.
Bogor, Agustus 2010 Penulis
v
DAFTAR ISI Halaman RINGKASAN RIWAYAT HIDUP ......................................................................................... iii KATA PENGANTAR ..................................................................................... iv DAFTAR TABEL .......................................................................................... ix DAFTAR GAMBAR ........................................................................................ x DAFTAR LAMPIRAN ................................................................................... xii I.
PENDAHULUAN ................................................................................... 1 1.1. 1.2. 1.3. 1.4. 1.5.
II.
Latar belakang ............................................................................. Perumusan masalah ..................................................................... Tujuan penelitian ........................................................................ Manfaat penelitian ...................................................................... Ruang lingkup ..............................................................................
1 4 6 6 7
TINJAUAN PUSTAKA ......................................................................... 8 2.1.
2.2.
2.3. 2.4. 2.5. 2.6. 2.7. 2.8.
2.9. 2.10. 2.11. 2.12. 2.13.
Investasi ....................................................................................... 2.1.1 Pengertian Investasi ....................................................... 2.1.2 Jenis Investasi ................................................................ 2.1.3 Tujuan Investasi ............................................................. 2.1.4 Proses Investasi .............................................................. Portofolio Investasi ...................................................................... 2.2.1 Pengertian Portofolio Investasi ...................................... 2.2.2 Risiko dan Tingkat Pengembalian Return ..................... 2.2.3 Mengendalikan Risiko ................................................... 2.2.4 Pengukuran Risiko ......................................................... 2.2.5 Tipe Investor dan Kaitannya dengan Risiko .................. Pengertian Reksa Dana ................................................................ Bentuk Hukum dan Klasifikasi Reksa Dana ................................ Karakteristik Reksa Dana ............................................................ Manfaat dan Risiko Reksa Dana .................................................. Nilai Aktiva Bersih (NAB) Reksa Dana ...................................... Pelaku-Pelaku Terkait Reksa Dana .............................................. 2.8.1 Manajer Investasi ........................................................... 2.8.2 Bank Kustodian .............................................................. 2.8.3 Agen Penjual Efek Reksa Dana (APERD) .................... 2.8.4 Wakil Agen Penjual Efek Reksa Dana (APERD).......... Mekanisme Reksa Dana ............................................................... Model Pengukuran Kinerja .......................................................... Tolok Ukur Pembanding (Benchmark) ........................................ Desain penelitian ......................................................................... Penelitian terdahulu ....................................................................
vi
8 10 10 11 11 12 12 13 16 18 19 21 22 25 26 28 30 30 31 31 32 32 34 37 38 39
III. METODOLOGI PENELITIAN ............................................................ 41 3.1. 3.2.
3.3.
Kerangka pemikiran .................................................................... Metode penelitian......................................................................... 3.2.1 Waktu penelitian ........................................................... 3.2.2 Desain penelitian ........................................................... 3.2.3 Jenis data ....................................................................... 3.2.4 Metode pengumpulan data ............................................ 3.2.5 Sampel dan populasi ..................................................... Metode pengolahan dan analisis data .......................................... 3.3.1 Analisis Data ..................................................................
41 41 41 41 42 42 42 43 44
IV. HASIL DAN PEMBAHASAN ............................................................... 46 4.1.
4.2. 4.3.
4.4.
4.5.
4.6.
4.7.
4.8.
Gambaran Mengenai Reksa Dana Saham …………………… ... 4.1.1 Reksa dana saham – Danareksa Mawar ......................... 4.1.2 Reksa dana saham – Bahana Dana Prima ...................... 4.1.3 Reksa dana saham – Batavia Dana Saham..................... 4.1.4 Reksa dana saham – TRIM Kapital ............................... 4.1.5 Reksa dana saham – Fortis Pesona ................................ 4.1.6 Reksa dana saham – Schroder Dana Prestasi Plus ......... 4.1.7 Reksa dana saham – Fortis Ekuitas ................................ 4.1.8 Reksa dana saham – Manulife Dana Saham .................. 4.1.9 Reksa dana saham – Schroder Dana Istimewa............... Analisis Kinerja Saham................................................................ Periode Tahun 2005 ..................................................................... 4.3.1 Penilaian dari average return ......................................... 4.3.2 Penilaian dari indeks Sharpe & Jensen .......................... 4.3.3 Ringkasan tahun 2005 .................................................... Periode Tahun 2006 ..................................................................... 4.4.1 Penilaian dari average return ......................................... 4.4.2 Penilaian dari indeks Sharpe & Jensen .......................... 4.4.3 Ringkasan tahun 2006 .................................................... Periode Tahun 2007 ..................................................................... 4.5.1 Penilaian dari average return ......................................... 4.5.2 Penilaian dari indeks Sharpe & Jensen .......................... 4.5.3 Ringkasan tahun 2007 .................................................... Periode Tahun 2008 ..................................................................... 4.6.1 Penilaian dari average return ......................................... 4.6.2 Penilaian dari indeks Sharpe & Jensen .......................... 4.6.3 Ringkasan tahun 2008 .................................................... Periode Tahun 2009 ..................................................................... 4.7.1 Penilaian dari average return ......................................... 4.7.2 Penilaian dari indeks Sharpe & Jensen .......................... 4.7.3 Ringkasan tahun 2009 .................................................... Selama Periode Tahun 2005 –2009 ............................................. 4.8.1 Penilaian dari average return ......................................... 4.8.2 Penilaian dari indeks Sharpe & Jensen .......................... 4.8.3 Ringkasan selama tahun 2005-2009 ..............................
vii
46 46 48 48 49 49 50 50 51 51 52 52 52 53 54 56 56 56 57 59 59 59 60 61 61 62 63 65 65 66 67 69 69 69 70
KESIMPULAN DAN SARAN ....................................................................... 73 1. 2.
Kesimpulan .............................................................................................. 73 Saran ........................................................................................................ 73
DAFTAR PUSTAKA ...................................................................................... 75 LAMPIRAN ..................................................................................................... 77
viii
DAFTAR TABEL
No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27.
Halaman Nilai Aktiva Bersih (NAB) reksa dana per jenis periode 2005 hingga 2009 ............................................................................. 5 Matriks risiko .................................................................................. 16 Pengendalian risiko ......................................................................... 17 Perbedaan reksa dana tertutup dan reksa dana terbuka .................. 23 Jenis reksa dana .............................................................................. 25 Daftar sampel reksa dana saham.................................................... 44 Alokasi aset Danareksa Mawar ....................................................... 48 Alokasi aset Schroder Dana Prestasi Plus...................................... 50 Alokasi aset Schroder Dana Istimewa............................................ 52 Peringkat average return periode 2005.......................................... 53 Peringkat indeks Sharpe dan Jensen periode 2005........................... 53 Peringkat tertinggi dan terendah berdasarkan metode Sharpe Jensen tahun 2005............................................................................. 55 Peringkat average return periode 2006............................................ 56 Peringkat indeks Sharpe dan Jensen periode 2006........................... 56 Peringkat tertinggi dan terendah berdasarkan metode Sharpe Jensen tahun 2006 ........................................................................... 58 Peringkat average return periode 2007........................................... 59 Peringkat indeks Sharpe dan Jensen periode 2007.......................... 60 Peringkat tertinggi dan terendah berdasarkan metode Sharpe Jensen tahun 2007 .......................................................................... 61 Peringkat average return periode 2008........................................... 62 Peringkat indeks Sharpe dan Jensen periode 2008.......................... 62 Peringkat tertinggi dan terendah berdasarkan metode Sharpe Jensen tahun 2008 ......................................................................... 65 Peringkat average return periode 2009......................................... 65 Peringkat indeks Sharpe dan Jensen periode 2009......................... 66 Peringkat tertinggi dan terendah berdasarkan metode Sharpe Jensen tahun 2009 ......................................................................... 68 Peringkat average return periode 2005-2009................................ 69 Peringkat indeks Sharpe dan Jensen periode 2005-2009.............. 69 Peringkat tertinggi dan terendah berdasarkan metode Sharpe Jensen tahun 2005-2009 ................................................................... 72
ix
DAFTAR GAMBAR
No.
Halaman
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25.
Perbandingan risk dan return profile .................................................... 2 Jumlah reksa dana periode 1996 hingga 2009 ....................................... 3 Jumlah unit penyertaan periode 1996 hingga Desember 2009 .............. 3 Jumlah unit penyertaan periode tahun 1996 hingga tahun 2009............ 4 Risiko sistematis dan risiko tidak sistematis .......................................... 16 Mekanisme kerja reksa dana................................................................ .. 33 Kerangka pemikiran................................................................................. 41 Grafik peringkat average return tertinggi periode 2005 .................... 53 Grafik peringkat Sharpe periode 2005..................................... .............. 54 Grafik peringkat Jensen periode 2005..................................... .............. 54 Grafik pergerakan kinerja reksa dana TRIM Kapital periode 2005....... 55 Grafik pergerakan kinerja reksa dana Fortis Ekuitas periode 2005.... ... 55 Grafik peringkat average return periode 2006...................... ................ 56 Grafik peringkat Sharpe periode 2006..................................... .............. 57 Grafik peringkat Jensen periode 2006...................................... ............. 57 Grafik pergerakan kinerja reksa dana TRIM Kapital periode 2006....... 58 Grafik pergerakan kinerja reksa dana Fortis Pesona periode 2006.... .... 58 Grafik peringkat average return periode 2007...................... ................ 59 Grafik peringkat Sharpe periode 2007..................................... .............. 60 Grafik peringkat Jensen periode 2007..................................... .............. 60 Grafik pergerakan kinerja reksa dana Fortis Ekuitas periode 2007... .... 61 Grafik peringkat average return periode 2008...................... ................ 62 Grafik peringkat Sharpe periode 2008..................................... .............. 63 Grafik peringkat Jensen periode 2008...................................... ............. 63 Grafik pergerakan kinerja reksa dana Batavia Dana Saham periode 2008............................................................................................. 64 Grafik pergerakan kinerja reksa dana Schroder Dana Prestasi Plus periode 2008............................................................................................. 65 Grafik peringkat average return periode 2009...................... ................ 66 Grafik peringkat Sharpe periode 2009..................................... .............. 66 Grafik peringkat Jensen periode 2009..................................... .............. 67 Grafik pergerakan kinerja reksa dana Schroder Dana Prestasi Plus periode 2009..................................................................................... 68 Grafik pergerakan kinerja reksa dana Fortis Ekuitas periode 2009............................................................................................ 68 Grafik peringkat average return periode 2005-2009........ ..................... 69 Grafik peringkat Sharpe periode 2005-2009.......................................... 70 Grafik peringkat Jensen periode 2005-2009........................ .................. 70 Grafik pergerakan kinerja reksa dana Fortis Ekuitas periode 2005-2009............................................................................................... 72 Grafik pergerakan kinerja reksa dana Schroder Dana Prestasi Plus periode 2005-2009.......................................................................... 72
26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36.
x
DAFTAR LAMPIRAN
No. 1. 2. 3. 4. 5. 6.
Halaman Perhitungan tahun 2005.................................................................... 78 Perhitungan tahun 2006.................................................................... 82 Perhitungan tahun 2007.................................................................... 86 Perhitungan tahun 2008.................................................................... 90 Perhitungan tahun 2009.................................................................... 94 Perhitungan tahun 2005-2009.......................................................... 98
xi
I. PENDAHULUAN
1.1.
Latar Belakang Investasi pada dasarnya adalah membeli suatu aset yang diharapkan dapat dijual kembali di masa datang dengan harga yang lebih tinggi atau dapat menghasilkan imbal hasil optimal dimasa datang. Bagi sebagian besar orang, investasi merupakan upaya untuk mengoptimalkan hasil dari sebagian dana yang disisihkan yang dimiliki dengan memanfaatkan berbagai sarana investasi yang ada dan berharap dana yang diinvestasikan akan bertambah di kemudian hari. Ada tiga hal utama yang mendasari investasi yaitu pertama adanya kebutuhan masa depan atau kebutuhan saat ini yang belum mampu untuk dipenuhi saat ini, kedua adanya keinginan untuk menambah nilai aset dan adanya kebutuhan untuk melindungi nilai aset yang sudah dimiliki, ketiga karena adanya inflasi (Pratomo dan Nugraha, 2009). Dalam melakukan investasi untuk mendapatkan imbal hasil dihadapkan pada beberapa pertimbangan investasi, yaitu tujuan melakukan investasi, jangka waktu investasi, sumber dana investasi, jumlah dana yang dimiliki, kemampuan menanggulangi risiko, tingkat toleransi atas risiko, imbal hasil yang tersedia, alternatif investasi yang tersedia, informasi yang tersedia, ketersediaan sumber daya waktu dan tenaga untuk memonitor kinerja investasi dan kemampuan menentukan pilihan investasi yang sesuai.
Karakteristik investor akan menyebabkan perbedaan dalam
menentukan pilihan investasi. Setiap pilihan investasi untuk menghasilkan imbal hasil di masa datang mengandung risiko karena menyangkut masa datang yang mengandung ketidakpastian, yang berarti mengandung unsur risiko bagi investor. Pengetahuan tentang risiko merupakan hal yang penting dimiliki oleh setiap investor maupun calon investor.
Seorang investor yang
rasional sebelum mengambil keputusan investasi, paling tidak harus mempertimbangkan 2 (dua) hal, yaitu pendapatan yang diharapkan
2
(expected return) dan risiko (risk) yang terkandung dari alternatif investasi yang dilakukannya. return
saham obligasi deposito
risiko
Gambar 1. Perbandingan risk dan return profile (Pratomo, 2008) Umumnya, risiko selalu terdapat pada setiap alternatif investasi, tetapi besar kecilnya risiko tersebut tergantung pada jenis investasinya. Makin tinggi imbal hasil yang diharapkan akan memiliki kadar risiko yang tinggi juga, high risk high return. Masing-masing instrumen investasi memiliki tingkat risiko yang berbeda, Sertifikat Bank Indonesia maupun deposito mendekati risk free (bebas risiko) dengan imbal hasil yang ditetapkan dalam persentase, sedangkan obligasi, investasi dalam pasar uang dan saham cenderung lebih berisiko. ”Don’t put all your eggs into one basket” adalah peringatan yang sering dikumandangkan kepada investor yang mengisyaratkan upaya untuk meminimalisasi risiko dari setiap alternatif investasi dengan berinvestasi pada portofolio yang terdiversifikasi untuk menghindari kerugian secara total (total loss). Ada beberapa sarana berinvestasi yang dapat dilakukan oleh seorang investor. Salah satu media investasi yang sering dipilih oleh investor adalah jenis reksa dana. Menurut Undang-Undang Pasar Modal Nomor 8 Tahun 1995, reksa dana adalah merupakan “wadah yang dipergunakan untuk menghimpun dana dari masyarakat pemodal untuk selanjutnya diinvestasikan dalam salah satu efek portofolio oleh manajer investasi”. Upaya pemerintah melalui BAPEPAM & LK dalam mengembangkan industri reksa dana telah menunjukkan hasil yang cukup baik, dimana perkembangannya dalam kurun waktu ± tiga belas tahun sejak tahun 1996, awal diterbitkannya reksa dana hanya berjumlah 25
3
(duapuluh lima) reksa dana dan hingga tahun 2009 jumlahnya terus mengalami peningkatan hingga 610 (enamratus sepuluh) reksa dana.
Gambar 2. Jumlah reksa dana periode tahun 1996 hingga tahun 2009 (BAPEPAM & LK, 2010). Peningkatan jumlah reksa dana tersebut diikuti juga dengan peningkatan jumlah unit penyertaan yang dipasarkan, peningkatan tersebut dapat dilihat pada gambar dibawah.
Gambar 3. Jumlah unit penyertaan periode tahun 1996 hingga Desember 2009 (BAPEPAM & LK, 2010). Peningkatan jumlah reksa dana dari tahun 1996 hingga tahun 2009 diikuti juga dengan peningkatan jumlah pemegang unit penyertaan yang dapat dilihat pada gambar berikut ini:
4
Gambar 4. Jumlah unit penyertaan periode tahun 1996 hingga tahun 2009 (BAPEPAM & LK, 2010). Walaupun jumlah pemegang unit penyertaan reksa dana mengalami peningkatan, namun jumlah tersebut masih sangat kecil apabila dibandingkan dengan total populasi penduduk Indonesia, menurut BPS dalam wikipedia tentang artikel mengenai sensus penduduk Indonesia tahun 2010, jumlah penduduk Indonesia tahun 2010 lebih banyak dari 237 juta orang namun tidak akan melebihi 238 juta orang (wikipedia.com, 2010).
Hal tersebut menandakan masih kurangnya pengetahuan
masyarakat akan reksa dana dan jika dilihat dari jumlah pemegang unit penyertaan yang relatif kecil, menunjukkan potensi berkembangnya industri reksa dana masih sangat besar. 1.2.
Perumusan Masalah Pada akhir tahun 2009 reksa dana saham mengalami peningkatan yang signifikan seiiring dengan membaiknya laju pertumbuhan Indeks Harga Saham Gabungan (IHSG). Menurut data Badan Pengawas Pasar Modal dan Lembaga Keuangan (BAPEPAM & LK, 2010) menunjukkan reksa dana saham memiliki gain paling tinggi dibandingkan reksa dana pasar uang, campuran dan pendapatan tetap, reksa dana saham mencatat gain sebesar 53% selama bulan Januari hingga Mei 2009, hal tersebut menunjukkan walaupun risiko pada reksa dana saham tinggi, namun gain yang diperoleh juga tinggi (high risk high return). Pertumbuhan Nilai Aktiva Bersih reksa dana saham meningkat dari tahun 2005 sejumlah Rp. 4.928,44 miliar hingga menjadi Rp. 36.506,79
5
miliar pada tahun 2009, peningkatan tersebut dapat dilihat pada Tabel dibawah ini. Tabel 1. Nilai Aktiva Bersih reksa dana per jenis periode 2005 hingga 2009 Nilai Aktiva Bersih reksa dana per jenis periode 2005 hingga 2009 Rp (miliar) Periode Saham Pasar Campuran Pendapatan Uang Tetap 2005 4.928,44 2.079,99 5.455,60 13.855,26 2006 8.250,85 3.800,62 8.471,09 19.520,85 2007 34.799,67 4.828,54 14.232,58 21.285,54 2008 19.891,42 2.301,84 10.002,12 10.931,32 2009 36.506,79 5.219,71 15.657,72 20.087,30 Sumber : BAPEPAM & LK, 2010 Risiko saham tercermin dari tajamnya fluktuasi harga di pasar modal dan berakibat pada perubahan kinerja reksa dana saham. Perubahan kinerja reksa dana saham lebih berfluktuasi dibandingkan dengan jenis reksa dana lainnya. Karena mengejar pertumbuhan Nilai Aktiva Bersih yang tinggi, maka reksa dana saham juga disebut sebagai reksa dana pertumbuhan. Dengan sifat seperti itu, maka reksa dana saham cocok digunakan sebagai sarana investasi bagi investor yang menginginkan pertumbuhan dananya dalam jangka panjang, misalnya lima tahun ke atas. Diantara jumlah populasi reksa dana saham, ada beberapa diantaranya yang mempunyai tujuan investasi yang lebih agresif dibandingkan dengan yang lain. Tingkat agresivitas ini dapat terlihat dari kebijakan investasinya, seperti berapa besar porsi portofolionya di saham, seratus persen, sembilan puluh persen atau delapan puluh persen. Selain itu pilihan jenis komposisi saham juga menunjukkan apakah sebuah reksa dana saham mengejar pertumbuhan secara agresif atau tidak. Misalkan, ada yang investasinya di saham berkapasitas kecil dan ada yang di saham berkapasitas besar.
Sifat kedua saham inipun tidak sama.
Dalam
memutuskan untuk membeli suatu reksa dana ada beberapa hal yang harus diperhatikan oleh seorang investor, antara lain tujuan investasi yang dilakukan apakah untuk jangka panjang atau jangka pendek, pengelola reksa dana tersebut (manajer investasi), track record reksa dana tersebut
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dan juga kinerjanya. Kinerja suatu reksa dana saham secara umum dapat dilihat dengan membandingkan Nilai Aktiva Bersih (NAB) per unit penyertaan dengan perubahan Indeks Harga Saham Gabungan (IHSG) yang ada di Bursa Efek Indonesia. Berdasarkan hal di atas, maka yang menjadi permasalahan pokok dalam penelitian ini adalah: 1.
Reksa dana saham manakah yang memiliki kinerja paling baik berdasar metode Sharpe untuk tahun 2005, 2006, 2007, 2008, 2009 dan selama tahun 2005-2009?
2.
Reksa dana saham manakah yang memiliki kinerja paling baik berdasar metode Jensen untuk tahun 2005, 2006, 2007, 2008, 2009 dan selama tahun 2005-2009?
1.3.
Tujuan Penelitian 1.
Untuk mengetahui kinerja masing-masing reksa dana saham berdasar metode Sharpe tahun 2005, 2006, 2007, 2008, 2009 dan selama tahun 2005-2009.
2.
Untuk mengetahui kinerja masing-masing reksa dana saham berdasar metode Jensen tahun 2005, 2006, 2007, 2008, 2009 dan selama tahun 2005-2009.
1.4.
Manfaat Penelitian Penulisan ini diharapkan memberikan manfaat antara lain : 1.
Bagi calon investor Diharapkan dapat melakukan diversifikasi investasi melalui reksa dana saham dengan memahami karakteristik dan risiko-risiko yang terdapat pada reksa dana saham serta dapat memilih manajer investasi yang memiliki track record yang baik berdasarkan hasil kinerja historis reksa dana.
2.
Bagi dunia pendidikan Diharapkan dapat sebagai bahan diskusi mengenai karakteristik reksa dana saham dan masukan dalam pengembangan dunia keuangan.
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1.5.
Ruang Lingkup Ruang lingkup dari penelitian ini dibatasi pada perbandingan kinerja reksa dana saham menggunakan metode Sharpe dan metode Jensen untuk periode tahun 2005 hingga tahun 2009. Adapun alasan pemilihan batasan ruang lingkup penelitian ini adalah sebagai berikut : 1.
Sampel merupakan reksa dana saham terbuka dan telah beroperasi selama lebih dari lima tahun atau telah efektif dipasarkan sejak tahun 2005.
2.
Periode yang diteliti adalah lima tahun yaitu dari tahun 2005 hingga tahun 2009. Hal ini dilakukan karena perkembangan reksa dana mulai dari tahun 2005 sehingga tahun 2009 mengalami peningkatan yang signifikan dan investasi pada reksa dana saham merupakan investasi jangka panjang.
3.
Data-data sekunder berupa Nilai Aktiva Bersih reksa dana saham per unit dari dua puluh empat reksa dana yang diteliti adalah data harian untuk akhir bulan Desember 2004 hingga akhir bulan Desember 2009, data Indeks Harga Saham Gabungan untuk periode yang sama, serta data tingkat suku bunga SBI untuk jangka waktu 1 bulan yang diperoleh dari laporan-laporan
yang
dikeluarkan oleh Bursa Efek Indonesia, BAPEPAM & LK, serta lembaga-lembaga lain yang terkait dengan penelitian ini. 4.
Metode pengukuran tingkat pengembalian, kinerja portofolio diukur dengan membandingkan tingkat pengembalian yang dihasilkan portofolio dengan tingkat pengembalian pasar yang diukur dari Indeks Harga Saham Gabungan.
5.
Metode pengukuran dengan penyesuaian risiko, kinerja portofolio diukur
dengan
menggunakan
metode
pengukuran
tingkat
pengembalian yang disesuaikan dengan risiko yang terkandung didalamnya. Metode pengukuran yang akan digunakan adalah metode Sharpe dan Jensen.
II. TINJAUAN PUSTAKA
2.1.
Investasi 2.1.1 Pengertian Investasi Menurut Malkiel dalam Pratomo dan Nugraha (2009), investasi adalah method of purchasing aset in order to gain profit in the form of reasonably predictable income (dividen, interest or rentals) and/or appreciation over the long term (metode pembelian aset untuk mendapatkan keuntungan dalam pendapatan yang dapat diprediksi (dividen, bunga atau sewa) dan/atau penghargaan jangka panjang). Sedangkan menurut Ahmad (2004), definisi investasi adalah menempatkan uang atau dana dengan harapan untuk memperoleh tambahan atau keuntungan tertentu atas uang atau dana tersebut. Artinya, satu pihak baik perorangan maupun lembaga akan menunda konsumsinya dan membeli instrumen investasi dan kemudian menjual instrumen investasi dengan adanya tambahan yang dikenal dengan tingkat
bunga/capital
gain/dividen.
Tingkat
bunga/capital
gain/dividen diharapkan lebih tinggi dari tingkat bunga yang berlaku sehingga dana yang dimiliki tidak mengalami penurunan kemampuan akibat adanya inflasi. Ada tiga hal utama yang mendasari perlunya melakukan investasi, yaitu pertama adanya kebutuhan masa depan atau kebutuhan saat ini yang belum mampu untuk dipenuhi saat ini, kedua adanya keinginan untuk menambah nilai aset atau melindungi nilai aset yang sudah dimiliki, ketiga adanya inflasi (Pratomo dan Nugraha, 2009). Ada dua hal yang melekat pada pengertian mengenai investasi di atas yakni waktu dan risiko. Pengertian tersebut pada dasarnya berkaitan erat dengan konsep time value of money (nilai komoditi saat ini lebih tinggi dibandingkan nilainya di masa datang).
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2.1.2 Jenis Investasi Menurut Ahmad (2004), umumnya investasi dikategorikan dalam dua jenis yaitu real assets dan financial assets. Real assets atau aset riil adalah bersifat berwujud seperti gedung-gedung, kendaraan dan sebagainya.
Sedangkan financial assets atau aset
keuangan merupakan dokumen (surat-surat) klaim tidak langsung pemegangnya terhadap aktiva riil pihak yang menerbitkan sekuritas tersebut. Perbedaan antara aktiva riil dengan aktiva keuangan yang mengundang daya tarik adalah likuiditas.
Likuiditas diartikan
mudahnya mengkonversi suatu aset menjadi uang, dan biaya transaksi cukup rendah. Aset riil secara umum kurang likuid daripada aset keuangan, hal ini disebabkan sifat heterogennya dan khusus kegunaannya.
Disamping itu return aset riil biasanya sulit untuk
diukur secara akurat, kepemilikan tidak luas, juga tidak tersedianya pasar yang aktif. Bagi seseorang yang ingin melakukan investasi yang menguntungkan atau setidak-tidaknya untuk mengamankan kekayaan dari berbagai risiko yang mungkin terjadi, dia mempunyai banyak pilihan investasi. Investasi di pasar modal masih relatif baru bagi masyarakat Indonesia, karena belum banyak orang mengenal bagaimana melakukan investasi di pasar modal.
Pasar modal di
Indonesia
investasi
sementara
ini
mempunyai
objek
yang
diperdagangkan berupa surat-surat berharga seperti saham, obligasi dan reksa dana. Untuk melakukan investasi di pasar modal, selain diperlukan dana, diperlukan pengetahuan yang cukup, pengalaman serta naluri bisnis untuk menganalisa efek atau surat berharga mana yang akan dibeli, yang mana yang akan dijual dan efek mana yang akan dipegang (hold). 2.1.3 Tujuan Investasi Secara luas tujuan orang melakukan investasi adalah untuk mendapatkan keuntungan sebagai imbalan dimasa yang akan datang.
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Namun jika dikaji lebih khusus lagi, ada beberapa alasan mengapa seseorang melakukan investasi, menurut Ahmad (2004) antara lain: 1.
Untuk mendapatkan kehidupan yang lebih layak di masa yang akan datang. Seseorang yang bijaksana akan berpikir bagaimana cara meningkatkan taraf hidupnya dari waktu ke waktu atau setidak-tidaknya bagaimana berusaha untuk mempertahankan tingkat pendapatan yang ada sekarang agar tidak berkurang di masa yang akan datang;
2.
Mengurangi tekanan inflasi.
Dengan melakukan investasi
dalam memilih perusahaan atau objek lain, seseorang dapat menghindarkan diri agar kekayaan atau harta miliknya tidak merosot nilainya karena digerogoti oleh inflasi; 3.
Dorongan untuk menghemat pajak. Beberapa negara di dunia banyak melakukan kebijakan yang sifatnya mendorong tumbuhnya
investasi
perpajakan
yang
di
masyarakat
diberikan
kepada
melalui
fasilitas
masyarakat
yang
melakukan investasi pada bidang-bidang usaha tertentu. 2.1.4 Proses Investasi Suatu proses investasi meliputi pemahaman mengenai dasardasar
keputusan
investasi,
tujuan
investasi
dan
bagaimana
mengorganisir aktivitas-aktivitas dalam proses keputusan investasi. Untuk memahami proses investasi, seorang investor harus terlebih dahulu mengetahui konsep dasar investasi yang akan menjadi dasar pijakan dalam setiap tahap pembuatan keputusan investasi yang dibuat. Hal yang paling mendasar dalam proses keputusan investasi adalah pemahaman hubungan antara return yang diharapkan dengan risiko suatu investasi. Hubungan risiko dan return yang diharapkan dari suatu investasi merupakan hubungan yang searah dan linier.
Artinya
semakin besar risiko yang harus ditanggung semakin besar pula tingkat return yang diharapkan. Hubungan seperti ini yang menjawab pertanyaan mengapa tidak semua investor hanya berinvestasi pada
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aset yang menawarkan tingkat return yang paling tinggi. Karena disamping memperhatikan return yang tinggi, investor juga harus mempertimbangkan tingkat risiko yang harus ditanggung. 2.2.
Portofolio Investasi 2.2.1 Pengertian Portofolio Investasi Portofolio investasi adalah kombinasi berbagai surat berharga yang dimaksudkan untuk mengurangi risiko investasi.
Dalam
prakteknya investor sering melakukan diversifikasi dalam investasi mereka. Diversifikasi dilakukan untuk mengurangi risiko investasi yang harus ditanggung. Pada dasarnya semua investor tidak menyukai adanya risiko (risk aversion) sehingga untuk mengurangi faktor ketidakpastian dan risiko, investor akan melakukan portofolio investasi.
Perbedaan antara investor yang satu dengan yang lain
adalah pada preferensi atau ketidaksediaannya menanggung risiko. Hampir semua investasi mengandung risiko yang disebabkan adanya unsur ketidakpastian. Investor tidak akan mengetahui dengan pasti yang diperolehnya atas investasinya. Ada berbagai macam surat berharga dalam suatu bisnis investasi. Pertama-tama yang akan dibahas adalah saham. Saham merupakan surat berharga yang diperdagangkan di pasar modal. Saham adalah tanda penyertaan atau kepemilikan dalam suatu perusahaan.
Penghasilan yang didapat dari saham adalah berupa
dividen dan capital gain.
Dividen sendiri adalah keuntungan
perusahaan yang dibagikan kepada pemegang saham melalui keputusan rapat umum pemegang saham. Sedangkan capital gain adalah kelebihan harga jual saham diatas harga beli.
Risiko
berinvestasi dalam saham bagi investor adalah tidak diterimanya pembayaran dividen karena alasan tertentu, misalnya perusahaan tidak mendapatkan laba ataupun laba sengaja tidak dibagikan untuk kepentingan re-investasi perusahaan dan capital loss. Obligasi adalah surat berharga atau sertifikat yang berisi kontrak antara pemberi pinjaman (dalam hal ini pemodal) dengan
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yang diberi pinjaman (emiten). Jadi surat obligasi adalah selembar kertas yang menyatakan bahwa pemilik kertas tersebut memberikan pinjaman kepada perusahaan yang menerbitkan surat obligasi. Seperti saham, pemilik obligasi juga akan mendapatkan penghasilan. Penghasilan itu berupa bunga obligasi dan capital gain. Capital gain bisa didapat jika harga jual kembali obligasi lebih tinggi daripada harga belinya. Capital gain juga bisa didapat jika pemegang obligasi mendapat diskon pada saat membeli. Sedangkan deposito adalah salah satu bentuk simpanan di bank.
Sebagai simpanan berjangka, deposito tidak dapat diambil
sewaktu-waktu sebelum jatuh tempo yang disepakati, kecuali jika deposan mau menanggung biaya denda. Penghasilan yang didapat dari deposito adalah bunga, dimana bunga tersebut lebih tinggi daripada bunga simpanan biasa. Hampir dapat dipastikan deposito adalah investasi yang relatif aman dan pasti. Risiko yang mungkin timbul adalah kebangkrutan bank yang bersangkutan. 2.2.2 Risiko dan Tingkat Pengembalian (Return) Investor yang melakukan suatu investasi selalu melibatkan dua parameter utama yang tidak dapat dipisahkan. Parameter tersebut berupa risiko dan return yang diharapkan dalam suatu periode tertentu. Apabila investor merasa sebuah sekuritas yang akan dibeli mempunyai tingkat risiko yang tinggi pula, maka sudah sewajarnya jika investor mengharapkan tingkat return yang tinggi pula. Fenomena tersebut merupakan suatu hal yang sangat wajar dimana investor selalu memperhitungkan setiap investasi dengan opportunity cost atau tingkat bunga pada periode investasi. Hampir seluruh investasi yang dilakukan oleh seorang investor dapat dikatakan mengandung unsur ketidakpastian atau risiko. Investor tidak tahu dengan pasti hasil yang akan diperolehnya dari investasi yang ditanamkan. Pada prinsipnya semua keputusan yang diambil oleh manajer keuangan baik yang menyangkut keputusan investasi, keputusan pembelanjaan dan kebijaksanaan dividen
13
memiliki tujuan yang sama. Kesemuanya mensyaratkan suatu estimasi hasil yang diharapkan serta risiko yakni kemungkinan tidak diperolehnya hasil seperti yang diharapkan.
Yang bisa dilakukan
dalam menyikapi ketidakpastian itu adalah memperkirakan berapa keuntungan yang diharapkan dari investasinya dan seberapa jauh kemungkinan hasil yang sebenarnya nanti akan menyimpang dari hasil yang diharapkan. Return yang diharapkan tersebut dapat diartikan dalam tingkat keuntungan yang diharapkan atau expected return, sedangkan risiko diartikan sebagai probabilitas tidak tercapainya tingkat keuntungan yang diharapkan.
Semakin besar
penyimpangan yang didapat atas tingkat keuntungan yang diharapkan, maka semakin besar pula tingkat risikonya. Risiko yang terjadi mengacu pada volatilitas, artinya risiko disebabkan oleh naik dan turunnya aktivitas pasar dan sekuritas yang terjadi dengan berjalannya waktu. Volatilitas disebabkan oleh berbagai macam faktor seperti perubahan tingkat suku bunga, inflasi atau kondisi perekonomian yang terjadi pada saat periode investasi. Keadaan tersebut membuat para investor dipaksa untuk menerima suatu bentuk pengembalian yang tidak pasti di masa mendatang. Investor dihadapkan pada suatu kemungkinan untuk menerima keuntungan atau kerugian yang tidak dapat diperkirakan datangnya. Namun dengan volatilitas yang terjadi secara historis pada suatu saham, maka dapat diperkirakan risiko yang akan diterima dan investor akan meminta suatu tingkat pengembalian yang sesuai dengan volatilitas saham yang bersangkutan. Menurut Widoatmodjo (2009), risiko dapat dikelompokkan menjadi dua yaitu risiko domestik (domestic risk) dan risiko internasional (international risk).
Yang dimaksud dengan risiko
domestik adalah risiko yang ditimbulkan oleh penyebab-penyebab domestik, misalnya inflasi, kenaikan suku bunga oleh pemerintah, terjadinya kerusuhan massa di dalam negeri, dan lain sebagainya. Sedangkan risiko internasional adalah risiko yang penyebabnya
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datang
akibat pergaulan
internasional,
misalnya
ekonomi nasional dengan peningkatan
harga
minyak
ekonomi di
pasar
internasional, yang menyebabkan melambungnya harga BBM (bahan bakar minyak) di dalam negeri, perubahan suku bunga di Amerika Serikat yang mengakibatkan suku bunga di dalam negeri juga ikut berubah, perubahan harga-harga saham di bursa Wall Street yang berdampak pada harga saham domestik dan lain sebagainya. Selain dikelompokkan atas dasar batas negara (domestik dan internasional), risiko juga lazim dikelompokkan menjadi risiko sistematis (systemic risk) atau lebih populer disebut risiko pasar (market risk) dan risiko tidak sistematis (unsystemic risk) atau sering disebut risiko unik (unic risk). Risiko sistematis adalah risiko yang dampaknya dirasakan oleh seluruh instrumen investasi, seperti inflasi, kenaikan suku bunga, resesi ekonomi dan lain sebagainya, sedangkan risiko tidak sistematis adalah risiko yang dampaknya hanya dirasakan oleh perusahaan tertentu yang berhubungan dengan risiko tersebut. Sebagai contoh pemogokan pekerja pada industri tekstil tentu hanya akan berpengaruh pada saham-saham perusahaan tekstil. Demikian pula peraturan pemerintah tentang larangan merokok, tentu hanya berdampak pada saham atau obligasi perusahaan yang memproduksi rokok. Matriks risiko dapat dilihat pada Tabel berikut ini: Tabel 2. Matriks Risiko. Risiko
Sistematis (Risiko Pasar)
Tidak Sistematis
Domestik Inflasi Suku bunga Resesi ekonomi Perpajakan Harga BBM Gagal bayar Likuiditas Pemogokan Pembayaran sebelum jatuh tempo Teknologi
Internasional Nilai tukar mata uang Inflasi Suku bunga Resesi ekonomi Harga minyak Risiko negara Teknologi Sumber bahan baku Nilai Tukar Teknologi
Sumber : Widoatmodjo, 2009 Investasi tidak mungkin mendapatkan return yang maksimal, tetapi dapat menghasilkan return yang optimal dengan risiko minimal.
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Investasi selalu menghadapi masalah penentuan komposisi antara berbagai instrumen investasi, misalnya berapa persentase aset berisiko dan berapa persentase aset tanpa risiko, yang disebut alokasi aset investasi (asset allocation). Risiko
Risiko tidak sistematis
Risiko sistematis
0 Jumlah jenis saham
2.2.3
Gambar 5. Risiko sistematis dan risiko tidak sistematis (Samsul 2006) Mengendalikan Risiko Risiko investasi tidak dapat dihilangkan, tetapi risiko masih dapat dikendalikan.
Pengendalian risiko menurut Widoatmodjo
(2009) dapat dilakukan dengan dua cara, yaitu menghindarinya atau menurunkannya, sebab selain setiap instrumen investasi memiliki jenis
risiko
sendiri-sendiri,
setiap
investor
juga
beragam
pemahamannya terhadap risiko. Untuk bisa memahami risiko investasi masing-masing instrumen investasi di pasar modal, investor harus mencari informasi mengenai hal-hal yang berkaitan dengan risiko tersebut. Seperti telah disebutkan sebelumnya, pengendalian risiko bisa dilakukan dengan dua cara yaitu menghindari atau menurunkan. Risiko yang dapat dihindari adalah risiko tidak sistematis, baik itu yang berasal dari dalam negeri (risiko domestik) maupun risiko internasional, sedangkan risiko yang bisa diturunkan adalah risiko sistematis, termasuk yang domestik dan internasional. Matriks pengendalian risiko seperti dibawah ini:
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Tabel 3. Pengendalian risiko Sumber Risiko Domestik Internasional Domestik Internasional
Jenis Risiko
Pengendalian
Sistematis
Diturunkan
Tidak Sistematis
Dihindari
Sumber : Widoatmodjo, 2009 Berikut ini adalah ulasan ringkas mengenai beberapa risiko dan cara pengendaliannya. 1.
Risiko sistematis, atau risiko yang sering disebut risiko pasar adalah risiko yang timbul akibat dampak dari suatu kejadian terbaru (current event) yang sangat berpengaruh terhadap pasar.
Risiko pasar ini bisa datang dari berbagai macam
kejadian, mulai dari kondisi politik, sosial maupun (terutama) ekonomi. Disebut sebagai risiko pasar, karena risiko ini akan dirasakan dampaknya oleh semua peserta pasar. Risiko ini bisa datang dari dalam negeri (risiko domestik) maupun dari luar
negeri
(risiko
internasional).
Sebagai
contoh,
meningkatnya harga minyak mentah di pasar internasional, kondisi ini akan mempengaruhi pasar modal global.
Wall
Street, pasar modal Amerika Serikat, misalnya menurun tajam indeksnya. Selanjutnya, gejolak harga-harga saham di Wall Street itu bergulir mempengaruhi harga-harga saham di Indonesia yang dicerminkan oleh IHSG (indeks harga saham gabungan) di BEI (Bursa Efek Indonesia).
Risiko pasar
tergolong sebagai risiko yang tidak bisa dihindari, risiko ini hanya bisa diturunkan, salah satu cara untuk menurunkannya adalah dengan menunda pembelian bagi investor beli dan sejenak meninggalkan pasar bagi investor jual. 2.
Risiko tidak sistematis, untuk bisa mengendalikan risiko unik ini adalah dengan menghindarinya. Arti menghindari disini adalah benar-benar tidak melakukan investasi pada instrumen investasi yang mengandung risiko unik tersebut, tetapi juga bukan berarti tidak boleh menginvestasikan pada seluruh
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instrumen investasi yang memiliki risiko unik ini.
Justru
dengan menghindari instrumen investasi tertentu yang mempunyai risiko unit tertentu pula, investor harus mencari ganti instrumen investasi lain yang tidak memiliki risiko unik yang tidak diinginkan. 2.2.4 Pengukuran Risiko Menurut Radcliffe (1990), ada beberapa cara yang dapat digunakan untuk menggambarkan suatu risiko, antara lain: 1.
Range, menunjukkan interval kemungkinan return tertinggi dengan return terendah.
Perhitungannya dilakukan dengan
cara mengurangi nilai riil return tertinggi dengan terendah sehingga diperoleh suatu angka interval. Kelemahan dalam menggunakan cara ini adalah tidak dapat menggambarkan kemungkinan-kemungkinan yang terdapat di antaran kedua nilai ekstrim tersebut, serta tidak menunjukkan perimbangan antara kemungkinan terjadinya return tertinggi dengan return terendah. Dengan kelemahan ini, range tidak dapat dipakai untuk membandingkan risiko antara dua portofolio, karena portofolio yang memiliki range yang sama tidak berarti memiliki risiko yang sama. 2.
Mean
absolute
deviation,
menunjukkan
kemungkinan
perbedaan antara return yang mungkin diterima dengan expected return-nya. Meskipun cara ini cukup masuk akal untuk menunjukkan tingkat risiko suatu portofolio, namun secara statistik cukup sulit digunakan. Berdasarkan kenyataan dilapangan, sangat sulit untuk mengetahui hubungan atau correlation diantara return suatu efek. 3.
Probability of negative return, menunjukkan kemungkinan persentase return yang berada dibawah nilai nol. Meskipun sangat mudah dilakukan, namun perhitungan dengan cara ini tidak dapat mengetahui secara menyeluruh aspek-aspek dari suatu risiko.
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4.
Semivariance, adalah perhitungan statistik yang menghitung variasi dari return yang berada dibawah expected return-nya. Kelemahan angka ini tidak mencakup ketidakpastian ketika return yang dihasilkan lebih besar dari expected-nya. Disamping sulit, perhitungan ini tidak dapat melihat correlation antara masing-masing return suatu efek.
5.
Standard deviation, adalah mengukur volatilitas dari return, cara ini sering digunakan untuk mengukur risiko. Secara statistik metode standar deviasi memiliki beberapa kelebihan diantaranya pengukuran dilakukan dengan cara menyebarkan return (memperhitungkan nilai yang terjadi di atas dan dibawah expected return. Disamping itu, standar deviasi juga dapat digunakan dengan menggunakan data aktual return masa lalu atau dari estimasi potensial return-nya.
2.2.5 Tipe Investor Dan Kaitannya Dengan Risiko Menurut Mandiri Investasi (www.mandiriinvestasi.co.id,2010) tipe investor terdiri dari: 1.
Investor Konservatif, umumnya tidak berani menghadapi ketidakpastian dan kerugian, sehingga cenderung memilih instrumen yang sangat aman dengan hasil yang sudah diketahui
sebelumnya,
seperti
deposito.
Kalaupun
mempertimbangkan jenis instrumen berisiko seperti obligasi atau saham, hanya porsi kecil dari dana investasinya yang akan dialokasikan ke dalam instrumen berisiko. 2.
Investor Moderat, umumnya berani mengambil risiko yang lebih tinggi dan akan mempertimbangkan secara hati-hati jenis instrumen yang akan dimilikinya serta membatasi jumlah dana yang akan diinvestasikannya ke dalam instrumen berisiko hingga porsi tertentu.
3.
Investor Agresif, memiliki keberanian menerima risiko lebih tinggi lagi, serta berani mengalokasikan sebagian besar dana investasinya pada instrumen berisiko.
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Menurut Widoatmodjo (2009), secara umum, kepekaan investor menghadapi risiko dapat dikelompokkan menjadi empat, yaitu: (1) risk averter, (2) risk taker dengan premium, (3) risk taker, (4) indifferent to risk. 1.
Risk averter, adalah kelompok orang yang paling penakut menghadapi risiko. Jika termasuk dalam kelompok ini sebaiknya tidak berinvestasi, karena berinvestasi mengandung risiko.
Kelompok ini sebaiknya tidak bertindak sebagai
investor, melainkan cukup menjadi saver atau penabung. Bagi risk averter, penghindar risiko pertimbangan utama dalam memilih instrumen investasi bukanlah penghasilan yang tinggi, melainkan risiko terendah. 2.
Risk taker dengan premium, adalah kelompok yang cukup berani menghadapi risiko yang bakal menimpanya. Meskipun demikian, bukan berarti risiko yang datang diterima tanpa reserve. Kelompok ini selalu mengharapkan risiko yang akan diterima itu dikompensasikan atau ditambahkan ke dalam penghasilan yang akan diterimanya.
Dengan demikian,
penghasilan yang akan diterima selalu lebih tinggi dari risiko yang menyertai penghasilan tersebut.
Risk taker dengan
premium selalu mengaitkan penghasilan dengan risiko. 3.
Risk taker, adalah kelompok yang juga disebut sebagai risk taker, risk seeker atau risk lover.
Kelompok ini berani
menerima tawaran investasi yang memiliki risiko yang tinggi, namun
masih
disertai
kebiasaan
memperhitungkan
penghasilan. Kelompok ini selalu menghendaki RR (required rate of return/penghasilan yang disyaratkan) yang tinggi. Karena fokus kelompok ini pada penghasilan yang tinggi, maka risiko tidak begitu menarik perhatian kelompok ini. Bagi
risk
taker,
selama
penghasilan
yang
mungkin
diterimanya masih dianggap fair, sesuai dengan tujuan investasinya, maka risiko menjadi pertimbangan kedua. Untuk
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mengkompensasi ”pengabaian risiko” itu, risk taker biasanya mengajukan persyaratan, tawaran investasi yang diajukan haruslah memiliki penghasilan yang lebih tinggi dari yang diterima kelompok risk taker with premium. 4.
Indifferent Risk, adalah kelompok yang memiliki kepekaan menghadapi risiko netral (neutral risk, nama lain indifferent risk).
Kelompok ini tidak tertarik dengan risiko, dimana
menurut kelompok ini risiko tidak relevan dibicarakan dalam urusan investasi. Dalam melakukan investasi, indifferent risk tidak mengaitkan sama sekali risiko dengan penghasilan. Artinya kelompok ini bersedia menerima penghasilan berapa pun, termasuk terendah, meskipun harus menghadapi risiko yang sangat tinggi.
Kelompok ini tidak akan pernah
memperhitungkan risiko yang mengiringi penghasilan mereka. Kelompok ini sering dikatakan tidak memiliki tujuan investasi, selain menikmati risiko itu sendiri, mereka enjoy dengan risiko. 2.3.
Pengertian Reksa Dana Unit trust dan mutual fund atau investment fund adalah istilah-istilah yang memiliki pengertian sama dengan reksa dana, yaitu bentuk investasi kolektif yang memungkinkan bagi investor yang memiliki tujuan investasi sejenis untuk mengumpulkan dananya agar dapat diinvestasikan dalam bentuk portofolio yang dikelola manajer investasi (Achsien, 2000). Menurut kamus keuangan, reksa dana diidentifikasikan sebagai portofolio aset keuangan yang terdiversifikasi, dicatatkan sebagai perusahaan investasi yang terbuka, yang menjual saham kepada masyarakat dengan harga penawaran dan penarikannya pada harga Nilai Aktiva Bersihnya. Menurut Undang-Undang Pasar Modal Nomor 8 Tahun 1995 pasal 1, ayat (27) ”reksa dana adalah wadah yang dipergunakan untuk menghimpun dana dari masyarakat investor untuk selanjutnya diinvestasikan dalam portofolio efek oleh manajer investasi. Reksa dana merupakan salah satu alternatif investasi bagi masyarakat investor khususnya investor kecil dan
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investor yang tidak memiliki banyak waktu dan keahlian untuk menghitung risiko atas investasi mereka. Reksa dana dirancang sebagai sarana atau wadah untuk menghimpun dana dari masyarakat yang memiliki modal, mempunyai keinginan melakukan investasi tetapi memiliki waktu dan pengetahuan yang terbatas (Pratomo dan Nugraha, 2009). 2.4.
Bentuk Hukum dan Klasifikasi Reksa Dana Berdasarkan Undang-Undang Pasar Modal Nomor 8 Tahun 1995 pasal 18, ayat (1), bentuk hukum reksa dana di Indonesia ada dua yaitu: 1.
Reksa dana berbentuk perseroan, yaitu perusahaan penerbit reksa dana menghimpun dana dengan menjual saham dan selanjutnya dana dari hasil penjualan tersebut diinvestasikan pada berbagai jenis investasi yang diperdagangkan di pasar modal dan di pasar uang.
2.
Reksa dana berbentuk kontrak investasi kolektif, yaitu kontrak antara manajer investasi dan bank kustodian yang mengikat pemegang unit penyertaan dimana manajer investasi diberi wewenang untuk mengelola portofolio investasi kolektif. Menurut Achsien (2000), berdasarkan sifatnya reksa dana dapat
dibedakan menjadi dua, yaitu reksa dana tertutup (closed-end fund) dan reksa dana terbuka (open-end fund); 1.
Reksa dana tertutup (closed-end fund) beroperasi sebagaimana perusahaan publik. Saham-saham atau unit penyertaannya diperjual belikan di pasar sekunder reguler atau bursa, dengan harga saham yang ditentukan oleh permintaan dan penawaran di pasar, sehingga reksa dana tertutup tidak membeli kembali dan tidak melakukan redemption saham yang telah dijual kepada investor. Dengan kata lain, pemegang saham tidak dapat menjual kembali sahamnya kepada manajer investasi. Nilai Aktiva Bersih (NAB) dari reksa dana tertutup tergantung dari nilai portofolionya, tetapi harga pasar saham reksa dana tertutup tidak harus selalu sama dengan NAB per saham.
2.
Reksa dana terbuka (open-end fund) adalah perusahaan investasi yang menawarkan
dan
membeli
kembali
saham-sahamnya
(unit
22
penyertaan) dari investor sampai sejumlah unit penyertaan yang sudah dikeluarkan. Setelah initial public offering, manajer investasi dapat menjual tambahan unit penyertaan dengan harga senilai NAB, ditambah atau tidak ditambah dengan biaya penjualan (sales charge/subscription fee).
Manajer investasi juga berkewajiban
membeli kembali (redeem) unit penyertaan yang dijual pemegang unit, pada harga sebesar NAB, dengan atau tanpa redemption fees. Dengan demikian, harga unit penyertaan selalu sama dengan NAB yang ditentukan oleh nilai portofolio yang dikelola oleh manajer investasi. Perbedaan antara reksa dana tertutup dan reksa dana terbuka dapat dilihat pada tabel berikut ini: Tabel 4. Perbedaan reksa dana tertutup dan reksa dana terbuka Jenis
Bentuk
Satuan Investasi
Penawaran Umum
Tercatat di Bursa
Transaksi Setelah Umum
Tertutup
PT
Saham
Ya
Ya
Antar Investor melalui Pialang
PT
Saham
Ya
Tidak
Investor dengan Manajer Investasi
KIK
Unit Penyertaan
Ya
Tidak
Investor dengan Manajer Investasi
Terbuka
Sumber: Mandiri Investasi, 2010 Menurut Achsien (2000), berdasarkan tipe penempatan portofolionya, reksa dana lazimnya diklasifikasikan menjadi empat jenis: money market funds, fixed-income funds, equity funds dan balanced funds. 1.
Money market funds, adalah reksa dana yang hanya melakukan investasi pada sekuritas atau efek jangka pendek di pasar uang. Likuiditas, current income dan pemeliharaan modal prinsipal adalah tujuannya. Risiko yang ditanggung reksa dana ini tergolong paling kecil karena memilih instrumen investasi berupa surat hutang jangka pendek, yang biasanya berumur tidak lebih dari satu tahun. T-bills, deposito, commercial paper (CP) dan bank acceptance merupakan efek-efek yang dibeli untuk mengkonstruksi portofolionya.
23
2.
Fixed-income funds melakukan investasi dalam instrumen-instrumen yang berupa surat hutang berjangka menengah dan panjang, dari obligasi pemerintah hingga corporate bonds. Strategi pengelolaannya bisa dengan buy-and-hold untuk memberikan return yang stabil (fixed income) dari penerimaan bunga atau kupon, atau extensive-trading untuk memperoleh pertumbuhan agresif dari capital gain di samping juga kupon dan bunga.
Seringkali, money market funds pun
digolongkan sebagai fixed-income funds ini. 3.
Equity funds melakukan diversifikasi portofolio pada saham atau ekuitas. Jenis ini dianggap memiliki risiko yang paling tinggi, yang tentunya dikompensasi dengan potensial return yang tinggi pula. Untuk horizon yang lebih panjang, equity funds dianggap memberikan tawaran lebih menarik karena dalam jangka panjang saham memberikan return yang paling tinggi. Equity unit trusts mempunyai lagi jenis yang didasarkan pada preferensi risk-return. Aggressive growth funds mengandalkan apresiasi harga dengan melakukan investasi pada saham yang memiliki potensi pertumbuhan tinggi yang juga dibarengi dengan karakteristik risiko yang besar. Growth funds lebih mengutamakan apresiasi harga dalam jangka panjang dengan melakukan penempatan pada saham-saham yang diproyeksikan memiliki earning yang tinggi terus menerus. Sementara income funds memprioritaskan pendapatan dari dividen dengan melakukan investasi ada saham yang menawarkan dividen yang lebih signifikan. Adapula growth-income funds yang mencoba mengkombinasikan karakteristik antara growth dan income funds.
4.
Balanced funds melakukan diversifikasi portofolio pada berbagai instrumen yang tersedia, baik di pasar uang maupun di pasar modal. Aset yang dimilikinya memiliki proporsi cukup seimbang dalam saham, surat hutang pasar uang, dan juga obligasi (fixed-income securities). moderat.
Tujuannya adalah mencapai risiko dan return yang
24
Sedangkan berdasarkan peraturan BAPEPAM & LK Nomor IV.C.3, definisi reksa dana terbagi atas empat kategori yaitu: 1.
Reksa dana pasar uang, adalah reksa dana yang hanya melakukan investasi pada efek bersifat utang dengan jatuh tempo kurang dari satu tahun;
2.
Reksa dana pendapatan tetap, adalah reksa dana yang melakukan investasi sekurang-kurangnya delapan puluh persen dari aktivanya dalam bentuk efek bersifat utang;
3.
Reksa dana saham, adalah reksa dana yang melakukan investasi sekurang-kurangnya delapan puluh persen dari aktivanya dalam efek bersifat ekuitas;
4.
Reksa dana campuran, adalah reksa dana yang melakukan investasi dalam efek
bersifat ekuitas dan efek
bersifat utang
yang
perbandingannya tidak termasuk huruf 2 dan huruf 3. Secara singkat jenis reksa dana dapat dilihat pada tabel berikut ini: Tabel 5. Jenis reksa dana Jenis Reksa Dana
Alokasi Investasi Dari Seluruh Dana Yang Terkumpul
Pasar Uang
100% Efek Pasar Uang
Pendapatan Tetap
Minimum 80% Efek Hutang Kombinasi Efek Hutang & Efek Saham Minimum 80% Efek Saham
Campuran Saham
Potensi Hasil & Risiko Investasi
Jangka Waktu yang disarankan
Rendah
Pendek < 1 tahun
Sedang
Menengah 1 – 3 tahun
Sedang/Tinggi
Menengah /Panjang
Tinggi
Panjang > 3 tahun
Sumber: Pratomo (2008) 2.5.
Karakteristik Reksa Dana Menurut Manurung (2008) reksa dana memiliki beberapa karakteristik yaitu: 1.
Kumpulan dana dan pemodal, dimana pemodal reksa dana adalah berbagai pihak yang menginvestasikan atau memasukkan dananya ke reksa dana.
Pemodal reksa dana dapat berupa perorangan atau
lembaga / institusi; 2.
Diinvestasikan dalam efek yang disebut instrumen investasi. Dana yang dikumpulkan dari pemodal diinvestasikan ke dalam instrumen
25
investasi seperti deposito, surat utang jangka pendek (repurchase agreement/REPO, commercial paper, promissory notes), surat utang jangka panjang (medium term notes, obligasi dan obligasi konversi) dan efek saham maupun efek yang berisiko tinggi (opsi, future dan sebagainya); 3.
Reksa dana dikelola oleh manajer investasi. Manajer investasi ini dapat diperhatikan dari dua sisi, yaitu sebagai lembaga dan sebagai perorangan. Sebagai lembaga harus memiliki izin perusahaan untuk mengelola dana, dimana izin tersebut diperoleh dari BAPEPAM & LK (Badan Pengawas Pasar Modal dan Lembaga Keuangan) bagi perusahaan yang bergerak dan berusaha di Indonesia. Perusahaan tersebut dapat mempunyai izin mengelola reksa dana harus mempunyai orang yang mempunyai izin sebagai pengelola dana.
2.6.
Manfaat dan Risiko Reksa Dana Menurut
Mandiri
Investasi
(www.mandiriinvestasi.co.id,2010),
pemegang unit penyertaan reksa dana dapat memperoleh manfaat investasi sebagai berikut: 1.
Pengelolaan secara profesional Pengelolaan portofolio investasi dalam bentuk efek bersifat utang atau efek bersifat ekuitas meliputi pemilihan instrumen, penentuan jangka waktu investasi serta administrasi investasinya memerlukan analisa yang sistematis, monitoring yang terus menerus serta keputusan investasi yang cepat dan tepat (market timing). Disamping itu diperlukan keahlian khusus serta hubungan dengan berbagai pihak untuk dapat melakukan pengelolaan suatu portofolio investasi yang terdiversifikasi. Hal ini akan sangat menyita waktu dan konsentrasi bagi investor jika dilakukan sendiri. Melalui reksa dana, investor akan memperoleh kemudahan karena terbebas dari pekerjaan tersebut di atas dan mempercayakan pekerjaan tersebut kepada manajer investasi yang profesional di bidangnya.
26
2.
Diversifikasi Investasi Untuk investasi di luar surat berharga yang dijamin oleh Bank Indonesia atau pemerintah Indonesia yang memiliki risiko terendah, diversifikasi investasi perlu dilakukan dengan maksud mengurangi risiko investasi. Jika dana investasi yang dimiliki relatif kecil, sulit untuk memperoleh manfaat diversifikasi tanpa kehilangan kesempatan memperoleh hasil investasi yang baik. Melalui reksa dana dimana dana dari berbagai pihak dapat dikumpulkan, diversifikasi investasi dapat lebih mudah dilakukan.
3.
Potensi Pertumbuhan Nilai Investasi Dengan akumulasi dana dari berbagai pihak, reksa dana mempunyai kekuatan penawaran (bargaining power) dalam memperoleh tingkat suku bunga yang lebih tinggi serta biaya investasi yang lebih rendah, serta akses kepada instrumen investasi yang sulit jika dilakukan secara individual. Hal ini memberikan kesempatan yang sama kepada seluruh pemegang unit penyertaan memperoleh hasil investasi yang relatif baik sesuai dengan tingkat risikonya.
4.
Kemudahan Pencairan Investasi Reksa dana terbuka memungkinkan investor mencairkan unit penyertaan pada setiap hari bursa dengan melakukan penjualan kembali unit penyertaan yang dimilikinya kepada manajer investasi. Hal ini memberikan tingkat likuiditas yang tinggi bagi investor. Sedangkan risiko investasi dalam reksa dana dapat disebabkan oleh
beberapa faktor antara lain: 1.
Risiko Perubahan Kondisi Ekonomi dan Politik Perubahan atau memburuknya kondisi perekonomian dan politik di dalam maupun di luar negeri atau perubahan peraturan dapat mempengaruhi perspektif pendapatan yang dapat pula berdampak pada kinerja bank dan penerbit surat berharga atau pihak dimana reksa dana melakukan investasi. Hal ini akan juga mempengaruhi kinerja portofolio investasi reksa dana.
27
2.
Risiko Wanprestasi Manajer investasi akan berusaha memberikan hasil investasi terbaik kepada pemegang unit penyertaan. Namun dalam kondisi luar biasa penerbit surat berharga dimana reksa dana berinvestasi atau pihak lainnya yang berhubungan dengan reksa dana dapat wanprestasi (default) dalam memenuhi kewajibannya. Hal ini akan mempengaruhi hasil investasi reksa dana.
3.
Risiko Likuiditas Dalam hal terjadi tingkat penjualan kembali (redemption) oleh pemegang unit penyertaan yang sangat tinggi dalam jangka waktu yang pendek, pembayaran tunai oleh manajer investasi dengan cara mencairkan portofolio reksa dana dapat tertunda. Dalam kondisi luar biasa (force majeure) atau kejadian-kejadian (baik yang dapat maupun tidak dapat diperkirakan sebelumnya) diluar kekuasaan manajer investasi, penjualan kembali dapat pula dihentikan untuk sementara sesuai ketentuan dalam kontrak investasi kolektif dan peraturan BAPEPAM & LK.
4.
Risiko Berkurangnya Nilai Aktiva Bersih Setiap Unit Penyertaan Nilai setiap unit penyertaan reksa dana dapat berubah akibat kenaikan atau penurunan Nilai Aktiva Bersih reksa dana yang bersangkutan. Terjadinya penurunan Nilai Aktiva Bersih setiap unit penyertaan dapat disebabkan antara lain oleh perubahan harga efek dalam portofolio.
2.7.
Nilai Aktiva Bersih (NAB) Reksa Dana Menurut Achsien (2000), istilah Nilai Aktiva Bersih (NAB) tidak dapat dipisahkan dari reksa dana karena istilah ini merupakan salah satu tolok ukur dalam memantau hasil portofolio suatu reksa dana. NAB adalah total nilai investasi dan kas yang dipegang (uninvested) dikurangi biaya-biaya hutang dari kegiatan operasional yang harus dibayarkan. Yang dimaksud dengan NAB per unit penyertaan adalah harga wajar dari portofolio reksa dana setelah dikurangi biaya operasional kemudian dibagi jumlah unit penyertaan yang beredar (dimiliki investor) pada saat tertentu. NAB/unit
28
dihitung tiap hari oleh bank kustodian setelah mendapat data dari manajer investasi dan nilainya dapat dilihat dari surat kabar yang dibuat reksa dana bersangkutan setiap hari.
Besarnya NAB bisa berfluktuasi setiap hari,
tergantung dari perubahan nilai efek dari portofolio. Meningkatnya NAB mengindikasikan naiknya nilai investasi pemegang unit penyertaan. Begitu juga sebaliknya, menurun berarti berkurangnya nilai investasi pemegang unit penyertaan. Menurut Pratomo dan Nugraha (2009), perhitungan NAB/unit diserahkan kepada bank kustodian sesuai peraturan BAPEPAM & LK Nomor IV.C.3. Didalam melakukan perhitungan, bank kustodian harus mengetahui harga pasar dari instrumen-instrumen investasi reksa dana yang bersangkutan. Adapun biaya-biaya yang dibebankan kepada reksa dana adalah biaya pengelolaan investasi yang diterima oleh manajer investasi (investment manajemen fee), biaya bank kustodian dan biaya-biaya lainnya. Pembebanan biaya tersebut dalam perhitungannya akan dikurangkan dari reksa dana pada setiap hari, sehingga NAB yang diumumkan setiap hari sudah merupakan nilai investasi bersih harian yang dmiliki oleh investor. NAB dihitung sebagai berikut: NABt = NAKt-TKWt
……………… (1)
Dimana: NABt = Nilai Aktiva Bersih pada periode t NAKt = nilai aktiva pada periode t TKWt = total kewajiban Reksa Dana pada periode t NAB per unit penyertaan dihitung sebagai berikut:
NAB/UPt = NABt/NUPt .
……………… (2)
Dimana: NAB/UPt
= NAB per unit penyertaan pada periode t
NABt
= NAB pada periode t
NUPt
= Jumlah unit penyertaan pada periode t
29
2.8.
Pelaku-Pelaku Terkait dengan Reksa Dana Menurut Badan Pengawas Pasar Modal dan Lembaga Keuangan (BAPEPAM & LK), pelaku-pelaku yang terkait dengan reksa dana adalah sebagai berikut: 2.8.1 Manajer Investasi Menurut Undang Undang Pasar Modal Nomor 8 tahun 1995, Pasal 1 ayat (11) manajer investasi adalah pihak yang kegiatan usahanya mengelola portofolio efek untuk para nasabah atau mengelola portofolio investasi kolektif untuk sekelompok nasabah, kecuali perusahaan asuransi, dana pensiun dan bank yang melakukan sendiri kegiatan usahanya berdasarkan peraturan perundang-undangan yang berlaku. Sedangkan menurut wikipedia (http://id.wikipedia.org, 2010) manajemen investasi adalah manajemen profesional yang mengelola beragam sekuritas atau surat berharga seperti saham, obligasi dan aset lainnya seperti properti dengan tujuan untuk mencapai target investasi yang menguntungkan bagi investor. Investor tersebut dapat berupa institusi (perusahaan asuransi, dana pensiun, perusahaan dll) atau dapat juga merupakan investor perorangan, dimana sarana yang digunakan biasanya berupa kontrak investasi atau yang umumnya digunakan adalah berupa kontrak investasi kolektif (KIK) seperti reksa dana. Dengan kata lain, manajer investasi adalah badan hukum yang berbentuk perseroan terbatas (PT) yang kegiatan utamanya adalah mengelola dana investor perorangan, maupun investasi kolektif untuk sekelompok investor yang dikenal dengan reksa dana, baik yang berbentuk perseroan maupun kontrak investasi kolektif (KIK). Untuk
menjamin
agar
pengelolaan
suatu
reksa
dana
dilaksanakan secara profesional, manajer investasi yang boleh beroperasi adalah manajer investasi yang telah mendapatkan izin usaha dari BAPEPAM & LK.
Dalam pengelolaannya, manajer
investasi wajib memiliki 2 (dua) tenaga profesional yang disebut
30
wakil manajer investasi (WMI) yang telah mendapatkan izin perorangan dari BAPEPAM & LK. 2.8.2 Bank Kustodian Menurut Undang Undang Pasar Modal Nomor 8 tahun 1995, Pasal 1 ayat (8) kustodian adalah pihak yang memberikan jasa penitipan efek dan harta lain yang berkaitan dengan efek serta jasa lain, termasuk menerima dividen, bunga dan hak-hak lain, menyelesaikan transaksi efek dan mewakili pemegang rekening yang menjadi nasabahnya. Bank kustodian adalah bank umum yang telah mendapatkan izin dari BAPEPAM & LK. Dalam hubungannya dengan reksa dana, bank kustodian mempunyai wewenang dan tanggung jawab dalam menyimpan, menjaga dan mengadministrasikan kekayaan baik dalam pencatatan serta pembayaran atau penjualan kembali suatu reksa dana berdasarkan kontrak yang dibuat antara manajer investasi dan bank kustodian. Dalam Undang Undang Pasar Modal disebutkan bahwa kekayaan reksa dana wajib disimpan pada bank kustodian sehingga pihak manajer investasi tidak memegang langsung kekayaan tersebut. Selain itu, bank kustodian dilarang terafiliasi dengan manajer investasi dengan tujuan untuk menghindari adanya benturan kepentingan (conflict of interest) dalam pengelolaan kekayaan reksa dana. 2.8.3 Agen Penjual Efek Reksa Dana (APERD) Menurut Peraturan BAPEPAM & LK Nomor V.B.3, agen penjual efek reksa dana adalah pihak yang melakukan penjualan efek reksa dana berdasarkan kontrak kerja sama dengan manajer investasi sebagai pengelola reksa dana. Agen penjual efek reksa dana wajib terlebih dahulu memperoleh surat tanda terdaftar sebagai agen penjual efek reksa dana dari BAPEPAM & LK. Agen penjual efek reksa dana hanya dapat melakukan kegiatan penjualan efek reksa dana melalui pegawai yang telah memperoleh
31
izin sebagai wakil perusahaan efek atau wakil agen penjual efek reksa dana (WAPERD) dan pegawai dimaksud wajib mendapat penugasan secara khusus dari agen penjual efek reksa dana yang bertindak untuk dan atas nama agen penjual efek reksa dana. 2.8.4 Wakil Agen Penjual Efek Reksa Dana (WAPERD) Menurut Peraturan BAPEPAM & LK Nomor V.B.2, wakil agen penjual efek reksa dana adalah orang perseorangan yang mendapat izin dari BAPEPAM & LK untuk bertindak sebagai penjual efek reksa dana. Untuk memperoleh izin sebagai wakil agen penjual efek reksa dana orang perseorangan wajib: 1.
Memiliki sertifikat lulus ujian kecakapan wakil agen penjual efek reksa dana yang diselenggarakan oleh asosiasi yang berkaitan dengan reksa dana atau memiliki sertifikat kecakapan profesi lain yang diakui oleh BAPEPAM & LK untuk melakukan kegiatan penjualan efek reksa dana;
2.
Cakap melakukan perbuatan hukum;
3.
Memiliki akhlak dan moral yang baik; dan
4.
Tidak pernah melakukan perbuatan tercela dan atau dihukum karena terbukti melakukan tindak pidana di bidang keuangan atau pasar modal.
2.9.
Mekanisme Kerja Reksa Dana Menurut Pratomo dan Nugraha (2009), pada prinsipnya reksa dana dikelola oleh dua pihak yaitu manajer investasi dan bank kustodian. Manajer investasi bertanggung jawab atas kegiatan investasinya yang meliputi: 1.
Analisa dan pemilihan jenis investasi;
2.
Mengambil keputusan-keputusan investasi;
3.
Memonitor pasar investasi; dan
4.
Melakukan tindakan-tindakan yang dibutuhkan untuk kepentingan investor. Sedangkan bank kustodian bertindak sebagai penyimpan kekayaan
serta administrasi reksa dana. Dana yang terkumpul dari beberapa investor melalui reksa dana bukan merupakan kekayaan dari manajer investasi dan
32
bank kustodian. Dana dan kekayaan (surat-surat berharga) yang dimiliki oleh reksa dana adalah milik para investor dan disimpan atas nama reksa dana di bank kustodian. Menurut Pratomo (2008), mekanisme kerja reksa dana dapat digambarkan sebagai berikut:
Gambar 6. Mekanisme kerja reksa dana (Pratomo, 2008) Hubungan kerja antar pihak yang terlibat dalam reksa dana secara ringkas sebagai berikut: 1.
Transaksi pembelian, penjualan kembali, pengalihan unit penyertaan.
2.
Informasi adanya dana investasi/kebutuhan pencairan dana.
3.
Penyetoran dana pembelian atau pembayaran atas penjualan kembali.
4.
Perintah transaksi investasi kepada bank atau pialang.
5.
Eksekusi transaksi oleh bank atau pialang ke pasar uang/pasar modal.
6.
Konfirmasi transaksi kepada manajer investasi dan bank kustodian.
7.
Perintah penyelesaian (settlement) transaksi kepada bank kustodian.
8.
Eksekusi penyelesaian transaksi dan penyimpanan surat berharga.
9.
Laporan valuasi harian kepada manajer investasi
10.
Perhitungan dan informasi NAB/unit dan kepemilikan unit
11.
Laporan bulanan kepada BAPEPAM & LK
12.
BAPEPAM & LK melakukan pengawasan terhadap kegiatan reksa dana.
33
2.10.
Model Pengukuran Kinerja Reksa Dana Seperti layaknya evaluasi terhadap kinerja perusahaan, portofolio yang telah dibentuk (kaitannya dengan reksa dana) juga perlu dievaluasi kinerjanya.
Menurut Tandelilin (2002), evaluasi kinerja portofolio akan
terkait dengan dua isu utama, yaitu (1) mengevaluasi apakah return portofolio yang telah dibentuk mampu memberikan return yang melebihi (diatas) return portofolio lainnya yang dijadikan patokan (benchmark) dan (2) mengevaluasi apakah return yang diperoleh sudah sesuai dengan tingkat risiko yang harus ditanggung. Penilaian kinerja suatu portofolio umumnya dimulai dengan mengukur tingkat return dari portofolio tersebut. Menurut Achsien (2000), imbal hasil bukan sekadar mengukur return tapi risk-adjusted, karena biasanya trade off antara return dan risiko. Asumsi bahwa investor biasanya risk averse juga membuat risk-adjusted return sebagai parameter yang relevan untuk perbandingan. Investor yang rasional akan memilih return yang lebih baik untuk tingkat risiko tertentu, makin tinggi suatu tingkat risiko membuat return yang diekspektasikan pun makin naik. Asumsi risk averse akan mendorong investor meminta kenaikan return untuk setiap penambahan tingkat risiko. Ukuran kinerja portofolio yang sudah memasukkan faktor risiko beberapa diantaranya adalah metode Sharpe dan Jensen.
Sebelum
mengetahui model-model pengukuran kinerja reksa dana tersebut, sebaiknya diketahui terlebih dahulu rumusan dalam menghitung return suatu portofolio. Rate of return adalah suatu perubahan kekayaan investor dari awal tahun sampai dengan akhir investasinya (Sharpe and Gordon,1995) Rate of return dari suatu portofolio dapat dihitung dengan rumusan sebagai berikut:
Rate of Return =
Kekayaant – Kekayaan t-1 Kekayaan t-1
……………… (3)
Sedangkan untuk mengukur tingkat pengembalian dari suatu reksa dana adalah sebagai berikut:
Return reksa dana =
NABup t – NABup t-1 NABup t-1
……………… (4)
34
Setelah perhitungan return reksa dana maka model yang akan digunakan dalam pengukuran kinerja dari suatu portofolio atau kinerja reksa dana adalah sebagai berikut: 1.
Metode Sharpe Metode ini dikembangkan oleh William Sharpe dan sering disebut dengan reward-to-variability ratio.
Metode Sharpe mendasarkan
perhitungannnya pada konsep garis pasar modal (capital market line) sebagai patok duga, yaitu dengan cara membagi premi risiko portofolio dengan standar deviasinya.
Dengan demikian, metode
Sharpe akan bisa dipakai untuk mengukur premi risiko untuk setiap unit risiko pada portofolio tersebut. Untuk menghitung metode Sharpe, bisa menggunakan persamaan sebagai berikut:
Sp = (Rp – Rf) σp
…………… (6)
Dimana: Sp
= metode Sharpe
Rp
= return rata-rata portofolio selama periode penelitian
Rf
= rata-rata risk-free selama periode penelitian
σp
= standard deviasi portofolio selama periode penelitian
Pengukuran Sharpe membagi risk premium (Rp – Rf) dengan standar deviasi dari portofolio selama periode pengukuran. Standar deviasi (σ) merupakan risiko fluktuasi yang dihasilkan karena berubahubahnya laba yang dihasilkan dari sub periode berikutnya selama seluruh periode. Standar deviasi merupakan risiko total yang mana penjumlahan dari risiko pasar (systemic risk/market risk) dan risiko unit usaha (unsystematic risk).
Dengan membagi risk premium
dengan standar deviasi, indeks Sharpe mengukur risk premium yang dihasilkan per unit risiko yang diambil.
Pengertiannya adalah,
35
investasi pada SBI yang risk free dengan jaminan bunga sebesar Rf, sedangkan investasi pada reksa dana mengandung risiko sebesar Rp, sehingga diharapkan menghasilkan tingkat laba yang lebih besar dari Rf.
Dengan memperhitungkan risiko, maka semakin tinggi nilai
indeks Sharpe, semakin baik kinerja reksa dana tersebut, namun tanpa informasi lain tetap sulit bagi investor untuk mengetahui apakah Sharpe
1,5
baik
atau
buruk.
Oleh
karena
itu
perlu
membandingkannya dengan reksa dana lain sehingga baru diketahui bagaimana risk adjusted return relatif terhadap investasi lain. Disamping itu indeks Sharpe pada dasarnya hanya menghasilkan peringkat relatif kinerja portofolio dan bukan peringkat absolut sehingga tidak dapat dikatakan dengan pasti apakah perbedaan tersebut signifikan secara statistik atau tidak. Risk-free rate merujuk pada return sekuritas yang dianggap tidak memiliki risiko, atau standar deviasi (σ) sama dengan nol; biasanya surat hutang pemerintah, misalnya T-bills di Amerika Serikat, dianggap sebagai risk-free. 2.
Metode Jensen Pengukuran dengan metode Jensen pada dasarnya menilai kinerja manajer investasi yang didasarkan atas seberapa besar manajer investasi mampu memberikan laba portofolio diatas laba pasar sesuai dengan risiko yang dimilikinya. Kelebihan inilah yang digambarkan oleh Jensen sebagai perpotongan garis regresi linier atau sering disebut dengan perpotongan Jensen (Jensen Intercept), yang dinyatakan dengan nilai alpha (α). Semakin tinggi nilai α positif, makin baik kinerja reksa dana tersebut. Metode Jensen diformulasikan sebagai berikut: α = (Rp – Rf)– ß(Rm-Rf) …………… (7)
Dimana: Rp
= return portofolio selama periode penelitian
36
Rf
= risk free selama periode penelitian
Rm
= return market
ß
= risiko sistematik dari portofolio
Terdapat catatan yang perlu digarisbawahi dalam penggunaan ukuranukuran risk-adjusted return ini. Angka peringkat tidak absolut tapi bersifat relatif dan tidak bisa menunjukkan dengan pasti apakah perbedaan-perbedaan yang timbul tersebut signifikan secara statistik. Selanjutnya adalah kemungkinan penafsiran yang rancu pada saat indeks yang dihasilkan bernilai negatif. Kemungkinan ini bisa terjadi untuk risiko premium (return portofolio minus risk-free return) negatif atau nilai beta yang negatif. Beta negatif dimungkinkan muncul, jika portofolio mempunyai korelasi negatif dengan portofolio pasar. Informasi mengenai kinerja yang disertai pengukuran risiko akan lebih bermanfaat bagi investor, karena setiap investor memiliki toleransi risiko yang berbeda-beda, sehingga dalam memilih reksa dana, investor tersebut dapat menyesuaikan dengan tingkat risiko yang dimilikinya. Kinerja suatu reksa dana dapat lebih baik daripada reksa dana lainnya disebabkan oleh hal-hal sebagai berikut: •
Kemampuan untuk mendapatkan return di atas rata-rata pada tingkat risiko tertentu;
•
Kemampuan untuk mendiversifikasi portofolio dengan baik dengan menghilangkan sebagian besar risiko unsystematic;
•
Kemampuan untuk mendapatkan return di atas rata-rata pada tingkat risiko tertentu sekaligus mampu mendiversifikasikan portofolio dengan baik sehingga sebagian besar risiko unsystematic dapat dihilangkan.
2.11.
Tolok Ukur Pembanding (Benchmark) Dalam melakukan suatu penilaian kinerja terhadap portofolio, manajer investasi umumnya membutuhkan suatu tolok ukur atau benchmark. Tujuan dari penggunaan tolok ukur ini adalah agar dapat membandingkan kinerja atau return portofolio yang dihasilkan oleh seorang manajer investasi
37
dengan return yang diperoleh dari suatu alternatif investasi lain. Sebagai contoh benchmark yang umumnya digunakan dalam mengukur kinerja suatu portofolio adalah IHSG (indeks harga saham gabungan), indeks obligasi, tingkat suku bunga deposito 1 bulan, 3 bulan dan alternatif investasi lainnya. 2.12.
Desain Penelitian Menurut Umar (2007), jenis penelitian terbagi ke dalam 3 (tiga) jenis, yaitu : 1.
Desain Eksploratori Biasanya suatu riset dilaksanakan dalam rangka menguji hipotesishipotesis berdasarkan data masa lampau atau teori-teori yang ada. Akan tetapi hipotesis sulit dibuat berhubung tidak ada dasar yang kuat untuk persoalan-persoalan yang sifatnya relatif baru. Jadi riset yang dilakukan sifatnya hanya melakukan eksplorasi, yaitu berusaha untuk mencari ide-ide atau hubungan-hubungan yang baru, sehingga dapat dikatakan bahwa riset ini bertitik tolak dari variabel, bukan dari fakta. Desain riset ini dapat dianggap sebagai langkah pertama yang diharapkan dapat dipakai untuk merumuskan persoalan dimana pemecahannya dapat memakai jenis riset yang lain. Penelitian ini relatif tidak memerlukan teorisasi dan hipotesis serta bekerja pada satu variabel saja.
2.
Desain Deskriptif Desain ini bertujuan untuk menguraikan sifat atau karakteristik dari suatu fenomena tertentu. Jadi dalam riset dengan desain ini jangan melakukan kesimpulan yang terlalu jauh atas data yang ada, karena tujuan
dari
desain
ini
hanya
mengumpulkan
fakta
dan
menguraikannya secara menyeluruh dan teliti sesuai dengan persoalan yang akan dipecahkan. Perencanaan sangat dibutuhkan agar uraiannya dapat mencakup seluruh persoalan dan informasi yang dibutuhkan dapat dihasilkan. Data yang deskriptif biasanya langsung digunakan sebagai dasar untuk membuat keputusan-keputusan. Penelitian ini relatif sedikit memerlukan teorisasi dan hipotesis serta dapat bekerja pada satu variabel saja.
38
3.
Desain Kausal Desain kausal berguna untuk menganalisa hubungan-hubungan antar satu variabel dengan variabel lainnya atau bagaimana suatu variabel mempengaruhi variabel lainnya. Sifat hubungan yang mungkin terjadi di antaranya variabel-variabel ini ada tiga kemungkinan yaitu simetris, asimetris dan timbal-balik. Suatu desain dikatakan simetris jika dua variabel berfluktuasi bersamaan, tetapi kita menganggap di antara keduanya tidak ada hubungan apa-apa. Desain dikatakan asimetris jika hubungan yang terjadi akibat dari variabel bebas terhadap variabel tidak bebasnya. Sedangkan suatu desain dikatakan timbal balik jika dua variabel saling mempengaruhi atau memperkuat satu sama lain.
2.13.
Penelitian Terdahulu Hastuti (2003) melakukan penelitian mengenai analisis kinerja reksa dana pendapatan tetap berdasarkan metode Sharpe, Treynor, dan Jensen sebagai alternatif investasi di Indonesia (studi kasus terhadap reksa dana pendapatan tetap yang dikelola oleh manajer investasi lokal periode 20002001). Variabel yang diamati pada penelitian ini adalah return dari Nilai Aktiva Bersih dua belas reksa dana pendapatan tetap yaitu: Melati, Melati II, Seruni, Niaga Pendapatan Tetap Seri A, Sam Dana Pasti Plus, Megah Pendapatan Tetap, BILLIS Superpundi Plus, Big Jayakarta, BNI Reksa Berbunga, Indovest Obligasi, Panin Dana Optima, dan Yudhistira periode tahun 2000-2001, return dari pasar berupa indeks obligasi, suku bunga bebas risiko dari SBI, standar deviasi. Metode dalam penelitian ini menggunakan metode Sharpe, Treynor dan Jensen untuk pengukuran kinerja reksa dana dan benchmark (indeks obligasi), dimana ketiga pengukuran tersebut digunakan untuk menentukan baik atau buruknya kinerja reksa dana dibandingkan dengan benchmarknya yaitu kinerja pasarnya.
Hasil yang didapat dari
pengukuran terhadap kedua belas reksa dana pendapatan tetap yang dikelola oleh manajer investasi lokal untuk periode tahun 2000 hingga tahun 2002 menggunakan metode Sharpe, Treynor dan Jensen tidak menunjukkan hasil yang memuaskan dimana kinerja reksa dana masih banyak yang bernilai
39
negatif dibandingkan dengan benchmark-nya sehingga underperformed (memiliki nilai dibawah nilai pasar) untuk melakukan investasi. Aroem (2005) melakukan penelitian yang bertujuan untuk mengetahui perkembangan reksa dana di Indonesia yang dapat diukur dengan indikator Nilai Aktiva Bersih (NAB) dan untuk menganalisis faktor-faktor yang mempengaruhi perkembangan reksa dana tersebut selama periode 2000 hingga 2004. Hasil penelitian tersebut menunjukkan bahwa selama bulan Januari 2000 sampai dengan Desember 2004, perkembangan reksa dana di Indonesia mengalami peningkatan yang ditunjukkan dengan semakin meningkatnya dana kelolaan reksa dana atau Nilai Aktiva Bersih (NAB) reksa dana.
Hal ini menunjukkan bahwa perkembangan reksa dana di
Indonesia secara umum menunjukkan kondisi positif. Faktor-faktor yang signifikan mempengaruhi perkembangan reksa dana adalah suku bunga SBI dua bulan sebelumnya, IHSG bulan sebelumnya, jumlah reksa dana dua bulan sebelumnya, nilai tukar Rupiah terhadap Dollar dan inflasi bulan sebelumnya. Suku bunga SBI, IHSG, nilai tukar Rupiah terhadap Dollar dan inflasi berpengaruh secara negatif terhadap perkembangan reksa dana. Sedangkan jumlah reksa dana memberikan dampak yang positif terhadap perkembangan reksa dana.
III. METODOLOGI PENELITIAN
3.1.
Kerangka Pemikiran Tidak ada investasi yang tidak mempunyai risiko karena didalam investasi terdapat unsur ketidakpastian. Karena tujuan investor melakukan investasi adalah untuk mendapatkan keuntungan (return), sama halnya dengan reksa dana sebagai salah satu alternatif investasi. Yang seringkali menjadi kendala bagi investor dan kerap kali menyulitkan adalah memilih reksa dana yang paling sesuai dengan kemampuan yang dimiliki karena banyaknya reksa dana di Indonesia seperti reksa dana saham, reksa dana pendapatan tetap, reksa dana campuran dan reksa dana pasar uang. Penulisan skripsi ini hanya dibatasi pada reksa dana saham yang merupakan alternatif investasi jangka panjang. Untuk mengetahui apakah reksa dana saham tersebut layak untuk dijadikan alternatif investasi jangka panjang maka diperlukan perhitungan yang jelas dan cermat, karena jika terjadi kesalahan akan menimbulkan risiko yang lebih besar.
Untuk menghitung kinerja reksa dana saham tersebut
digunakan metode penghitungan Sharpe dan Jensen. Dimana pada penelitian ini yang diutamakan adalah metode Sharpe karena pada perhitungan risikonya sudah merupakan risiko keseluruhan (systematic dan unsystematic risk) sedangkan penghitungan dengan metode Jensen pada dasarnya menilai kinerja manajer investasi. Reksa dana dikatakan menguntungkan dengan metode Sharpe apabila nilai Sharpe positif dan reksa dana dikatakan tidak menguntungkan apabila nilai Sharpe negatif. Reksa dana dikatakan superior performance dengan metode Jensen apabila nilai alpha (α) positif dan dikatakan inferior performance apabila nilai alpha (α) bernilai negatif. Adapun skema kerangka pemikiran secara garis besar dapat dilihat sebagai berikut:
41
Investor Investasi Reksa Dana Saham
Kinerja Reksa Dana Saham
Sharpe Measurement (Sp)
Jensen Measurement (α)
Reksa Dana menguntungkan: - jika Sharpe positif maka kinerjanya baik (outperformed atau memiliki nilai diatas nilai pasar) Reksa Dana tidak menguntungkan: - jika Sharpe negatif maka kinerjanya buruk (underperform atau memiliki nilai dibawah nilai pasar)
Reksa Dana superior performance: - jika alpha (α) positif maka kinerjanya baik Reksa Dana inferior performance: - jika alpha (α) negatif maka kinerjanya buruk
Rekomendasi Gambar 7. Kerangka pemikiran 3.2.
Metode Penelitian 3.2.1 Waktu Penelitian Penelitian ini dilakukan selama lima periode yaitu mulai tahun 2005 hingga tahun 2009.
Alasan diambilnya kurun waktu
tersebut karena peneliti ingin mengetahui kinerja dan perkembangan reksa dana khususnya reksa dana saham karena berinvestasi adalah investasi jangka panjang (5 hingga 10 tahun). 3.2.2 Desain Penelitian Penelitian ini dilakukan dengan menggunakan metode analisis deskriptif kuantitatif dimana penelitian dilakukan dengan menggali
42
dan menganalisis kinerja reksa dana terbuka, yang masih aktif dikelola oleh manajer investasi, yang dirumuskan berdasarkan fakta dan teori yang relevan. Adapun rancangan penelitian bersifat deskriptif karena menjelaskan secara sistematik mengenai fakta dan karakteristik situasi atau kondisi dan mencari informasi yang berupa data yang relevan dalam penelitian. Sedangkan pengukuran kinerja reksa dana pada penelitian ini menggunakan metode Sharpe dan Jensen. 3.2.3 Jenis Data Jenis data yang digunakan dalam menyusun penelitian ini adalah
data
sekunder.
Data
sekunder
adalah
data
yang
pengumpulannya tidak diusahakan sendiri oleh peneliti, tetapi berupa hasil publikasi. Berkaitan dengan penelitian ini, datanya banyak diperoleh dari berbagai publikasi yang diterbitkan oleh BAPEPAM dan LK dan Bursa Efek Indonesia. 3.2.4 Metode Pengumpulan Data Untuk mendapatkan data yang diperlukan, maka metode yang dipergunakan adalah metode Penelitian Kepustakaan. Metode ini merupakan teknik pengumpulan data yang dilakukan dengan cara membaca, mempelajari, serta mengumpulkan pendapat ahli dari bukubuku dan tulisan ilmiah yang berhubungan dengan pokok bahasan penelitian ini. 3.2.5 Sampel dan Populasi Penentuan
sampel
dan populasi dalam penelitian
ini
didasarkan pada metode purposive sampling, dimana menurut Umar (2007) bahwa dalam hal ini pemilihan sampel berdasarkan pada karakteristik tertentu yang dianggap mempunyai sangkut paut dengan karakteristik populasi yang sudah diketahui sebelumnya. Kriteria sampel dilakukan dengan batasan-batasan sebagai berikut: 1.
Reksa dana tersebut adalah reksa dana saham yang dikelola oleh sepuluh manajer investasi yang memiliki dana kelolaan terbesar pada akhir Desember 2009.
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2.
Reksa dana tersebut adalah reksa dana saham terbuka dan telah beroperasi selama lebih dari lima tahun atau telah efektif dipasarkan sejak tahun 2005. Setelah ditelusuri lebih lanjut berdasarkan data yang diperoleh
dari BAPEPAM & LK maka dari 24 jenis reksa dana saham yang diperoleh dari persyaratan diatas, 15 reksa dana dikeluarkan dari sampel penelitian karena tidak memenuhi kriteria persyaratan penelitian ini. Ke 15 reksa dana tersebut adalah: Fortis Solaris, Fortis Infrastruktur Plus, Mandiri Investa Atraktif, Dana Ekuitas Andalan, Dana Ekuitas Prima, Manulife Saham Andalan, Batavia Dana Saham Optimal, Batavia Dana Saham Agro, Danareksa Mawar Agresif, Mega Dana Saham, Mega Dana Ekuitas, TRIM Kapital Plus, First State Indoequity Sectoral Fund, First State Indoequity Dividen Yield Fund dan First State Indoequity Value Select Fund. Sehingga hanya 9 reksa dana yang dapat digunakan sebagai sampel dalam penelitian ini. Berikut adalah sampel reksa dana saham yang dikelola oleh sepuluh Manajer Investasi dengan dana kelolaan terbesar pada akhir bulan Desember 2009 dan telah efektif dipasarkan.yang menjadi objek penelitian. Tabel 6. Daftar sampel reksa dana saham No.
Reksa Dana
Manajer Investasi
1 2 3 4 5 6
Danareksa Mawar Bahana Dana Prima Batavia Dana Saham TRIM Kapital Fortis Pesona Schroder Dana Prestasi Plus Fortis Ekuitas Manulife Dana Saham Schroder Dana Istimewa
PT Danareksa Investment Management PT Bahana TCW Inv’t Management PT Batavia Prosperindo PT Trimegah Securities Tbk. BNP Paribas Investment Partners PT Schroder Investment Mgt Indonesia
7 8 9
BNP Paribas Investment Partners PT Manulife Aset Manajemen Indonesia PT Schroder Investment Mgt Indonesia
Tanggal Peluncuran 17-Jul-96 8-Aug-96 16-Dec-96 17-Mar-97 10-Nov-97 25-Sep-00 28-Feb-01 1-Aug-03 27-Dec-04
Sumber : BAPEPAM & LK 3.3.
Metode Pengolahan dan Analisis Data Metode pengolahan dalam perhitungan evaluasi kinerja reksa dana saham yang akan digunakan adalah metode Sharpe dan Jensen, sehingga diperlukan tiga data mentah yang nantinya akan digunakan dalam penelitian ini, yaitu:
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1.
Data NAB per unit penyertaan harian periode akhir bulan Desember 2004 sampai dengan akhir bulan Desember 2009 dari 9 reksa dana saham yang akan digunakan sebagai sampel dalam penelitian. Sumber data NAB per unit penyertaan harian 9 reksa dana saham tersebut diperoleh dari harian Bisnis Indonesia.
2.
Data indeks harga saham gabungan (IHSG) harian di Bursa Efek Indonesia yang selanjutnya akan digunakan sebagai benchmark dalam penelitian ini. Data tersebut juga diambil dari periode yang sama yaitu dari akhir bulan Desember 2004 sampai dengan akhir bulan Desember 2009. Data IHSG tersebut diperoleh dari internet www.idx.co.id yang merupakan situs Bursa Efek Indonesia.
3.
Data tingkat suku bunga Sertifikat Bank Indonesia (SBI) periode 1 bulan, yang akan digunakan sebagai risk free dalam penelitian ini. Data tersebut diambil dari periode akhir bulan Desember 2004 sampai dengan akhir bulan Desember 2009. Data tingkat suku bunga SBI 1 bulan tersebut diperoleh dari internet www.bi.go.id, yang merupakan situs Bank Indonesia.
3.3.1 Analisis Data Dalam menganalisa data-data mentah tersebut, penelitian menggunakan beberapa rumus sehingga data tersebut nantinya dapat dimasukkan dalam perhitungan selanjutnya antara lain: 1.
Rumus tingkat pengembalian (return) Nilai ini diperoleh dari angka NAB per unit penyertaan untuk masing-masing reksa dana saham yang diteliti, dengan rumus yang telah dijelaskan sebelumnya pada BAB II yaitu menggunakan rumus (4).
2.
Rumus tingkat pengembalian pasar (return market) Nilai ini diperoleh dari angka IHSG untuk periode harian yang diteliti, dengan rumus: Tingkat pengembalian pasar (return market) = IHSGt – IHSGt-1 IHSGt-1
…………… (8)
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Sedangkan untuk mengukur kinerja dari masing-masing reksa dana saham, peneliti menggunakan empat model perhitungan, yakni: 1.
Metode Sharpe Perhitungan kinerja reksa dana dengan metode Sharpe didasarkan atas apa yang disebut premium atas risiko atau risk premium.
Risk premium adalah perbedaan (selisih) antara
rata-rata kinerja yang dihasilkan oleh reksa dana dengan ratarata kinerja investasi yang bebas risiko (risk free asset). Dengan membagi risk premium dengan standar deviasi (σ), indeks Sharpe mengukur risk premium yang dihasilkan per unit risiko yang diambil. Artinya, investasi pada SBI tidak mengandung risiko dengan kinerja investasi tertentu. Investasi pada reksa dana mengandung risiko, sehingga diharapkan memberikan imbal hasil investasi yang lebih besar dari pada kinerja investasi bebas risiko.
Indeks Sharpe mengukur
seberapa besar penambahan hasil investasi yang diperoleh (risk premium) untuk setiap unit risiko yang diambil. Makin tinggi nilai rasio Sharpe, makin baik kinerja reksa dana. 2.
Metode Jensen Pengukuran dengan metode Jensen menilai kinerja manajer investasi berdasarkan atas seberapa besar manajer investasi tersebut mampu memberikan kinerja di atas pasar sesuai dengan risiko yang dimilikinya. Semakin tinggi nilai alpha (α) positif, semakin baik kinerja reksa dana tersebut, sebaliknya jika alpha (α) negatif, maka kinerja reksa dana tersebut semakin buruk.
IV. HASIL DAN PEMBAHASAN
4.1.
Gambaran Mengenai Reksa Dana Saham Seperti telah dijelaskan pada Bab III sebelumnya, reksa dana yang menjadi sampel dalam penelitian ini adalah reksa dana saham yang dikelola oleh sepuluh manajer investasi yang memiliki dana kelolaan terbesar pada akhir Desember 2009 dan merupakan reksa dana saham terbuka (open-end) serta telah beroperasi selama lebih dari lima tahun atau telah efektif dipasarkan sejak tahun 2005. Berdasarkan kriteria tersebut hanya sembilan reksa dana yang memenuhi kriteria persyaratan yang dapat dijadikan sampel penelitian, ke sembilan reksa dana saham tersebut adalah: (1) Danareksa Mawar, (2) Bahana Dana Prima, (3) Batavia Dana Saham, (4) TRIM Kapital, (5) Fortis Pesona, (6) Schroder Dana Prestasi Plus, (7) Fortis Ekuitas, (8) Manulife Dana Saham dan (9) Schroder Dana Istimewa. Gambaran umum mengenai reksa dana saham yang menjadi sampel dalam penelitian ini akan dijelaskan sebagai berikut: 4.1.1 Reksa Dana Saham – Danareksa Mawar Reksa dana Danareksa Mawar (“Danareksa Mawar”) adalah reksa dana saham terbuka berbentuk kontrak investasi kolektif yang dikelola oleh PT Danareksa Investment Management sebagai manajer investasi. Danareksa Mawar mulai dipasarkan pada tanggal 17 Juli 1996. Danareksa Mawar bertujuan untuk memperoleh pertumbuhan nilai investasi yang tinggi dalam jangka panjang melebihi tingkat pertumbuhan saham-saham di Indonesia pada umumnya melalui investasi pada efek ekuitas dan efek hutang yang diterbitkan oleh perusahaan-perusahaan berbadan hukum di Indonesia yang dijual melalui penawaran umum serta instrumen pasar uang yang berjangka waktu kurang dari dua belas bulan. Kebijakan investasi dari Danareksa Mawar adalah portofolio dikelola secara aktif guna mendapatkan peragaman (diversifikasi) yang menunjang tujuan
47
investasi. Kekayaan Danareksa Mawar akan diinvestasikan dengan jangkauan alokasi aset sebagai berikut: Tabel 7. Alokasi Aset Danareksa Mawar Jenis Instrumen Efek ekuitas
Jangkauan
Komposisi Berimbang
80 – 100%
80%
0 – 20% 0 – 20%
20% 20%
Efek hutang Instrumen pasar uang
4.1.2 Reksa Dana Saham – Bahana Dana Prima Reksa dana Bahana Dana Prima (“Bahana Dana Prima”) adalah reksa dana saham terbuka berbentuk kontrak investasi kolektif yang dikelola oleh PT Bahana TCW Investment Management sebagai manajer investasi.
Bahana Dana Prima mulai dipasarkan (pada
tanggal 8 Agustus 1996. Bahana Dana Prima bertujuan untuk mencapai apresiasi modal dalam jangka panjang melalui penempatan dana dalam efek bersifat ekuitas dan efek bersifat utang di pasar modal dan pasar uang dengan berpegang pada proses investasi yang sistematis, disiplin dan memperhatikan faktor risiko.
Kebijakan
investasi dari Bahana Dana Prima adalah memperhatikan peraturan perundang-undangan yang berlaku dan ketentuan-ketentuan lain dalam
kontrak
investasi
kolektif,
manajer
investasi
akan
menginvestasikan Bahana Dana Prima dengan target komposisi investasi sebagai berikut: - minimum delapan puluh persen dalam bentuk efek bersifat ekuitas yang tercatat di Bursa Efek di Indonesia; dan - maksimum dua puluh persen)pada instrumen pasar uang dan obligasi. 4.1.3 Reksa Dana Saham – Batavia Dana Saham Reksa dana Batavia Dana Saham (“Batavia Dana Saham”) adalah reksa dana saham terbuka berbentuk kontrak investasi kolektif yang dikelola oleh PT Batavia Prosperindo Aset Manajemen sebagai manajer investasi. Batavia Dana Saham dipasarkan pada tanggal 16 Desember 1996. Batavia Dana Saham bertujuan untuk meningkatkan
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nilai investasi melalui investasi dalam berbagai saham perusahaanperusahaan Indonesia dengan pengelolaan yang mengurangi dampak risiko pasar dalam jangka panjang. Komposisi portofolio investasi dari Batavia Dana Saham adalah: - Efek bersifat ekuitas 80% - 100% - Kas dan pasar uang 0% - 20% 4.1.4 Reksa Dana Saham – TRIM Kapital Reksa dana TRIM Kapital (“TRIM Kapital”) adalah reksa dana saham terbuka berbentuk kontrak investasi kolektif yang dikelola oleh PT Trimegah Securities sebagai manajer investasi. TRIM Kapital mulai dipasarkan pada tanggal 17 Maret 1997. TRIM Kapital bertujuan mempertahankan investasi dan memperoleh peningkatan nilai investasi yang optimal dalam jangka panjang berupa capital gain dan dividen melalui investasi dalam efek ekuitas yang tercatat di Bursa Efek di Indonesia. Target komposisi investasi: - Efek bersifat ekuitas : 70% - 90% - Efek bersifat hutang dan/atau instrumen pasar uang : 10% - 20% 4.1.5 Reksa Dana Saham – Fortis Pesona Reksa dana Fortis Pesona (“Fortis Pesona”) adalah reksa dana saham terbuka berbentuk kontrak investasi kolektif yang dikelola oleh BNP Paribas Investment Partners (dahulu Fortis Investments) sebagai manajer investasi. Fortis Pesona mulai dipasarkan pada tanggal 10 November 1997. Fortis Pesona bertujuan untuk memberikan tingkat pertumbuhan nilai investasi jangka panjang yang menarik melalui investasi pada saham. Fortis Pesona mempunyai target komposisi portofolio delapan puluh persen pada efek ekuitas yang dijual dalam penawaran umum dan/atau diperdagangkan di Indonesia dan dua puluh persen pada efek berpendapatan tetap.
Fortis Pesona
mempunyai kebijakan investasi sebagai berikut: - Minimum lima puluh persen dan maksimum sembilan puluh persen, dengan target delapan persen dalam efek ekuitas yang ditawarkan melalui penawaran umum di Indonesia.
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- Minimum lima persen dan maksimum tiga puluh persen dengan target sepuluh persen dalam instrumen pasar uang yang mempunyai jatuh tempo kurang dari 1 (satu) tahun meliputi Sertifikat Bank Indonesia, Surat Berharga Komersial (Commercial Paper) yang telah memperoleh peringkat dari lembaga pemeringkat efek yang telah memperoleh persetujuan dari BAPEPAM & LK. - Maksimum dua puluh persen dengan target sepuluh persen dalam efek hutang di pasar modal. 4.1.6 Reksa Dana Saham – Schroder Dana Prestasi Plus Reksa dana Schroder Dana Prestasi Plus (“Schroder Dana Prestasi Plus”) adalah reksa dana saham terbuka berbentuk kontrak investasi kolektif yang dikelola oleh PT Schroder Investment Management Indonesia sebagai manajer investasi. Schroder Dana Prestasi Plus mulai dipasarkan pada tanggal 25 September 2000. Schroder Dana Prestasi Plus bertujuan untuk memperoleh keuntungan dari pertumbuhan ekonomi Indonesia dengan investasi modal dalam jangka panjang pada saham. Schroder Dana Prestasi Plus bertujuan untuk memperoleh pertumbuhan modal dalam jangka panjang dengan pengelolaan portofolio secara aktif pada saham, obligasi dan pasar uang. Tabel 8. Alokasi Aset Schroder Dana Prestasi Plus Efek
Minimum
Maksimum
Efek ekuitas badan hukum Indonesia
80 %
100%
0%
20%
Instrumen pasar uang 4.1.7 Reksa Dana Saham – Fortis Ekuitas
Reksa dana Fortis Ekuitas (“Fortis Ekuitas”) adalah reksa dana saham terbuka berbentuk kontrak investasi kolektif yang dikelola oleh BNP Paribas Investment Partners (dahulu Fortis Investments) sebagai manajer investasi. Fortis Ekuitas mulai dipasarkan pada tanggal 28 Februari 2001.
Fortis Ekuitas bertujuan untuk memberikan
pengembalian nilai investasi melalui alokasi yang strategis dalam efek bersifat ekuitas yang dijual melalui penawaran umum dan/atau
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diperdagangkan pada Bursa Efek di Indonesia, dan instrumen pasar uang seperti halnya deposito berjangka, sertifikat deposito, Sertifikat Bank Indonesia, Surat Berharga Pasar Uang, obligasi yang jatuh temponya kurang dari 1 tahun dan instrumen pasar uang lainnya. Kebijakan investasi Fortis Ekuitas adalah melakukan investasi minimum delapan puluh persen pada efek bersifat ekuitas dan maksimum
dua puluh persen pada instrumen pasar uang seperti
deposito berjangka, sertifikat deposito, Sertifikat Bank Indonesia, Surat Berharga Pasar Uang, obligasi yang jatuh temponya kurang dari 1 tahun dan instrumen pasar uang lainnya. 4.1.8 Reksa Dana Saham – Manulife Dana Saham Reksa dana Manulife Dana Saham (“Manulife Dana Saham”) adalah reksa dana saham terbuka berbentuk kontrak investasi kolektif yang dikelola oleh PT Manulife Aset Manajemen Indonesia sebagai manajer investasi.
Manulife Dana Saham mulai dipasarkan pada
tanggal 1 Agustus 2003.
Manulife Dana Saham bertujuan untuk
mendapatkan peningkatan investasi yang tinggi dalam jangka panjang. Kebijakan investasi Manulife Dana Saham adalah minimum delapan puluh persen dan maksimum seratus persen pada efek bersifat ekuitas dalam mata uang rupiah yang diterbitkan melalui penawaran umum dan/atau dicatatkan di Bursa Efek serta minimum nol persen dan maksimum dua puluh persen pada efek bersifat utang dalam mata uang rupiah yang diterbitkan melalui penawaran umum dan/atau dicatatkan di Bursa Efek (efek bersifat utang tersebut termasuk maksimum dua puluh persen pada instrumen pasar uang yang mempunyai jatuh tempo kurang dari 1 (satu) tahun dan diterbitkan berdasarkan
peraturan
perundang-undangan
yang
berlaku
di
Indonesia). 4.1.9 Reksa Dana Saham – Schroder Dana Istimewa Reksa dana Schroder Dana Istimewa (“Schroder Dana Istimewa”) adalah reksa dana saham terbuka berbentuk kontrak investasi kolektif yang dikelola oleh PT Schroder Investment
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Management Indonesia sebagai manajer investasi. Schroder Dana Istimewa mulai dipasarkan pada tanggal 29 Mei 1997. Schroder Dana Prestasi bertujuan untuk memberikan tingkat pertumbuhan investasi yang menarik dalam jangka panjang. Kebijakan investasi Schroder Dana Prestasi mengutamakan investasi sebagai berikut: Tabel 9. Alokasi Aset Schroder Dana Istimewa
4.2.
Efek
Minimum
Target
Maksimum
Efek Hutang di Pasar Modal Instrumen pasar uang Efek Ekuitas
0%
15%
25%
5% 70%
5% 80%
30% 95%
Analisis Kinerja Saham Pada pembahasan ini, analisa pembahasan dibagi menjadi dua bagian yaitu : 1.
Periode tahunan yang meliputi tahun 2005, 2006, 2007, 2008 dan 2009
2.
Periode selama lima tahun mulai dari tahun 2005 – 2009
Hal ini ini bertujuan untuk memberikan gambaran kinerja masing-masing reksa dana sebagai alternatif investasi.
Dimana dalam perhitungannya
menggunakan metode Sharpe dan Jensen dan akan dibandingkan dengan benchmark-nya (IHSG). 4.3.
Periode tahun 2005 Setelah dilakukan perhitungan pada masing-masing reksa dana saham berdasarkan data per akhir Desember 2004 hingga akhir Desember 2005, ringkasan hasil yang diperoleh seperti keterangan dibawah ini: 4.3.1 Penilaian dari average return Dari tabel dibawah dapat dilihat bahwa return yang dihasilkan pasar (IHSG) pada tahun 2005 adalah sebesar 0,0136602 (1,36%), peringkat tertinggi berdasarkan average return ditempati oleh TRIM Kapital yaitu sebesar 0,0331847 (33,2%).
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Tabel 10. Peringkat average return periode 2005 Peringkat
Reksa Dana
1 2 3 4 5 6 7 8 9 10
TRIM Kapital Fortis Ekuitas Manulife Dana Saham Batavia Dana Saham Fortis Pesona Schroder Dana Istimewa Schroder Dana Prestasi Plus Danareksa Mawar Bahana Dana Prima IHSG
Average Return 0.0331847 0.0286304 0.0219741 0.0211142 0.0182038 0.0172367 0.0149785 0.0146678 0.0144996 0.0136602
Sumber : BAPEPAM & LK (data diolah)
Gambar 8. Grafik peringkat average return periode 2005 (sumber: BAPEPAM & LK, data diolah) 4.3.2 Penilaian dari indeks Sharpe dan Jensen Peringkat reksa dana berdasarkan perhitungan menggunakan metode Sharpe dan Jensen dapat terlihat pada tabel dibawah: Tabel 11. Peringkat indeks Sharpe dan Jensen periode 2005 Peringkat
Reksa Dana
1 2 3 4 5 6 7 8 9 10
TRIM Kapital Fortis Ekuitas Manulife Dana Saham Batavia Dana Saham Fortis Pesona Danareksa Mawar Schroder Dana Istimewa Bahana Dana Prima Schroder Dana Prestasi Plus IHSG
Sharpe 0.7134214 0.6677913 0.4166935 0.3480754 0.2944876 0.2718058 0.2633965 0.2467212 0.2194949 0.1892673
Peringkat 1 2 3 4 5 6 7 8 9 10
Sumber : BAPEPAM & LK (data diolah)
Reksa Dana TRIM Kapital Fortis Ekuitas Manulife Dana Saham Batavia Dana Saham Fortis Pesona Schroder Dana Istimewa Schroder Dana Prestasi Danareksa Mawar Bahana Dana Prima IHSG
Jensen 0.0187529 0.0155250 0.0094707 0.0085525 0.0052215 0.0023712 0.0050165 0.0022811 0.0024799 0.0000402
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Gambar 9. Grafik peringkat Sharpe periode BAPEPAM & LK, data diolah)
2005
(sumber
Gambar 10. Grafik peringkat Jensen periode 2005 (sumber BAPEPAM & LK, data diolah) 4.3.3 Ringkasan tahun 2005 Tahun 2005 merupakan krisis ketiga yang dialami oleh industri reksa dana, dipicu oleh jatuhnya harga obligasi domestik, dimana yang terkena imbasnya adalah reksa dana pendapatan tetap yang berbasis obligasi. Adanya misleading informasi dari pihak yang memasarkan reksa dana menjadi salah satu penyebab terjadinya pencairan dana besar-besaran. Asumsi investor bahwa reksa dana pendapatan tetap merupakan reksa dana yang memberikan hasil tetap dan tidak mengandung risiko serta memberikan return lebih besar dari pada deposito menyebabkan investor lebih memilih reksa dana tersebut sebagai sarana berinvestasi, sehingga ketika harga obligasi mengalami kejatuhan yang berimbas pada menurunnya NAB reksa dana tersebut menyebabkan investor melakukan aksi pencairan (redemption) dana yang dimilikinya.
54
Tahun 2005 merupakan masa bullish reksa dana saham dimana reksa dana saham mengalami peningkatan pada jumlah unit penyertaan dan NAB.
Kondisi bullish ini mempengaruhi hasil
perhitungan kinerja seluruh sampel seperti terlihat pada gambar 11, dan 12 dibawah.
Gambar 11. Grafik pergerakan kinerja reksa dana TRIM Kapital periode 2005 (sumber BAPEPAM & LK, data diolah)
Gambar 12. Grafik pergerakan kinerja reksa dana Fortis Ekuitas periode 2005 (sumber BAPEPAM & LK, data diolah) Berdasarkan metode Sharpe dan Jensen, berikut adalah peringkat teratas dan terbawah. Tabel 12. Peringkat tertinggi dan terendah berdasarkan metode Sharpe dan Jensen 2005 Tertinggi Terendah Sharpe
Jensen
TRIM Kapital TRIM Kapital
IHSG IHSG
55
4.4.
Periode tahun 2006 Setelah dilakukan perhitungan pada masing-masing reksa dana saham berdasarkan data per akhir Desember 2005 hingga akhir Desember 2006, ringkasan hasil yang diperoleh seperti keterangan dibawah ini: 4.4.1 Penilaian dari average return Dari tabel dibawah dapat dilihat peringkat average return untuk tahun 2006 Tabel 13. Peringkat average return periode 2006. Peringkat
Reksa Dana
1 2 3 4 5 6 7 8 9 10
TRIM Kapital Fortis Pesona Manulife Dana Saham Fortis Ekuitas Bahana Dana Prima Schroder Dana Prestasi Plus Schroder Dana Istimewa IHSG Batavia Dana Saham Danareksa Mawar
Average Return 0.05043934 0.04630499 0.04148040 0.04135044 0.04066331 0.03972034 0.03878084 0.03869330 0.03771849 0.03676159
Standar Deviasi 0.05143680 0.05195139 0.04583419 0.05027867 0.05640427 0.04915624 0.05579161 0.05322443 0.05420269 0.05039091
Sumber BAPEPAM & LK (data diolah)
Gambar 13. Grafik peringkat average return periode 2006 (sumber BAPEPAM & LK, data diolah) 4.4.2 Penilaian dari indeks Sharpe dan Jensen Peringkat reksa dana berdasarkan perhitungan menggunakan metode Sharpe dan Jensen dapat terlihat pada tabel dibawah: Tabel 14. Peringkat indeks Sharpe dan Jensen periode 2006 Peringkat 1 2 3 4 5 6 7 8 9 10
Reksa Dana TRIM Kapital Fortis Pesona Manulife Dana Saham Fortis Ekuitas Schroder Dana Prestasi Plus IHSG Bahana Dana Prima Danareksa Mawar Schroder Dana Istimewa Batavia Dana Saham
Sharpe 0.87606454 0.78780566 0.78768727 0.71547355 0.69864898 0.62595153 0.62558949 0.62281481 0.59871813 0.59666966
Peringkat
Reksa Dana
1 2 3 4 5 6 7 8 9 10
Fortis Pesona TRIM Kapital Manulife Dana Saham Fortis Ekuitas Bahana Dana Prima Schroder Dana Prestasi Plus Batavia Dana Saham IHSG Danareksa Mawar Schroder Dana Istimewa
Sumber : BAPEPAM & LK (data diolah)
Jensen 0.00706484 0.00646398 0.00460575 0.00335935 0.00177338 0.00152191 0.00070856 0.00013940 -0.00054100 -0.00069041
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Gambar 14. Grafik peringkat Sharpe periode 2006 (sumber BAPEPAM & LK, data diolah)
Gambar 15. Grafik peringkat Jensen periode 2006 (sumber BAPEPAM & LK, data diolah) 4.4.3 Ringkasan tahun 2006 Memasuki tahun 2006 industri reksa dana menunjukkan pemulihan sebagai dampak dari peningkatan harga aset keuangan. Pulihnya kondisi ini ditandai dengan menurunnya tingkat inflasi dari tahun 2005 yang sebesar 17,11% (merupakan inflasi tertinggi pasca krisis moneter Indonesia pada tahun 1997-1998), menjadi sebesar 6,6% (www.bi.go.id, 2010). Pemulihan ini menciptakan semangat baru dunia investasi, dimana sebagai indikatornya adalah Indeks Harga Saham Gabungan yang terus meningkat yang menyebabkan harga-harga saham juga mengalami peningkatan, hal ini membuat reksa dana saham menjadi menarik untuk dijadikan sebagai salah satu alternatif investasi. Nilai Aktiva Bersih reksa dana saham pada tahun 2006 mencatat pertumbuhan sebesar 67,3% dari Nilai Aktiva Bersih tahun sebelumnya yaitu sebesar 4,9 triliun di tahun 2005 menjadi 8,2 triliun di tahun 2006 (www.bapepam.go.id, 2010).
57
Berdasarkan
perhitungan
yang
dilakukan
dengan
menggunakan indeks Sharpe dan dari segi tingkat return maka diperoleh reksa dana TRIM Kapital menempati peringkat pertama, sedangkan menurut perhitungan Jensen peringkat pertama ditempati oleh Fortis Pesona. Apabila dibuatkan grafik pergerakan kinerjanya dan dibandingkan dengan benchmark-nya maka dapat dilihat pada gambar 16 dan 17 berikut ini.
Gambar 16. Grafik pergerakan kinerja reksa dana TRIM Kapital periode 2006 (sumber BAPEPAM & LK, data diolah)
Gambar 17. Grafik pergerakan kinerja reksa dana Fortis Pesona periode 2006 (sumber BAPEPAM & LK, data diolah) Berdasarkan metode Sharpe dan Jensen, berikut adalah peringkat teratas dan terbawah. Tabel 15. Peringkat tertinggi dan terendah berdasarkan metode Sharpe dan Jensen 2006 Tertinggi Terendah Sharpe
Jensen
TRIM Kapital Fortis Pesona
Batavia Dana Saham Schroder Dana Istimewa
58
4.5.
Periode tahun 2007 Setelah dilakukan perhitungan pada masing-masing reksa dana saham berdasarkan data per akhir Desember 2006 hingga akhir Desember 2007, ringkasan hasil yang diperoleh seperti keterangan dibawah ini: 4.5.1 Penilaian dari average return Dari tabel dibawah dapat dilihat peringkat dari average return untuk tahun 2007. Tabel 16. Peringkat average return periode 2007 Peringkat
Reksa Dana
1
Fortis Ekuitas TRIM Kapital Bahana Dana Prima Fortis Pesona Danareksa Mawar Manulife Dana Saham Schroder Dana Istimewa Schroder Dana Prestasi Plus IHSG Batavia Dana Saham
2 3 4 5 6 7 8 9 10
Average Standar Return Deviasi 0.05326079 0.06145839 0.04664788 0.07575725 0.04545820 0.06990176 0.04500716 0.06703678 0.04190339 0.06507960 0.04157466 0.06438539 0.03938580 0.06282172 0.03928638 0.05906242 0.03721176 0.05714867 0.03595876 0.06320683
Sumber : BAPEPAM & LK (data diolah)
Gambar 18. Grafik peringkat average return periode 2007 (sumber BAPEPAM & LK, data diolah) 4.5.2 Penilaian dari indeks Sharpe dan Jensen Peringkat reksa dana berdasarkan perhitungan menggunakan metode Sharpe dan Jensen dapat terlihat pada tabel dibawah:
59
Tabel 17. Peringkat indeks Sharpe dan Jensen periode 2007 Peringkat
Reksa Dana
1 2 3 4 5 6 7 8 9 10
Fortis Ekuitas Fortis Pesona Schroder Dana Prestasi Plus Bahana Dana Prima Manulife Dana Saham Danareksa Mawar IHSG Schroder Dana Istimewa TRIM Kapital Batavia Dana Saham
Sharpe 0.80446113 0.61439779 0.60049137 0.59566870 0.58638685 0.58518321 0.58429805 0.56614002 0.56533166 0.50847120
Peringkat 1 2 3 4 5 6 7 8 9 10
Reksa Dana
Jensen
Fortis Ekuitas 0.01596688 Fortis Pesona 0.00686719 Bahana Dana Prima 0.00592671 Danareksa Mawar 0.00538015 Manulife Dana Saham 0.00392367 TRIM Kapital 0.00333798 Schroder Dana Prestasi Plus 0.00306972 Schroder Dana Istimewa 0.00211006 IHSG 0.00014030 Batavia Dana Saham -0.00314654
Sumber : BAPEPAM & LK (data diolah)
Gambar 19. Grafik peringkat Sharpe periode 2007 (sumber BAPEPAM & LK, data diolah)
Gambar 20. Grafik peringkat Jensen periode BAPEPAM & LK, data diolah) 4.5.3 Ringkasan tahun 2007
2007
(sumber
Krisis subprime mortgage pada pertengahan tahun 2007 yang terjadi di negara Amerika Serikat telah memicu krisis ekonomi global. Krisis keuangan global yang berimbas pada penurunan IHSG tidak berpengaruh banyak terhadap kinerja reksa dana. Penarikan (redemption) dana yang terjadi tidak sehebat gelombang redemption
60
di tahun 2005 akibat jatuhnya harga pasar obligasi domestik. Investor telah belajar dari kasus tahun 2005 bahwa investor yang tidak panik dan memilih bertahan justru mendapatkan keuntungan lebih besar di saat pasar kembali pulih. Berdasarkan
perhitungan
yang
dilakukan
dengan
menggunakan indeks Sharpe dan indeks Jensen yang menempati peringkat pertama adalah Fortis Ekuitas. Grafik kinerja untuk peringkat pertama dan kedua dapat dilihat pada gambar dibawah ini.
Gambar 21. Grafik pergerakan kinerja reksa dana Fortis Ekuitas periode 2007 (sumber BAPEPAM & LK, data diolah) Berdasarkan metode Sharpe dan Jensen, berikut adalah peringkat teratas dan terbawah. Tabel 18. Peringkat tertinggi dan terendah berdasarkan metode Sharpe dan Jensen 2007 Tertinggi Terendah Sharpe
Fortis Ekuitas Fortis Ekuitas
Jensen 4.6.
Batavia Dana Saham Batavia Dana Saham
Periode tahun 2008 Setelah dilakukan perhitungan pada masing-masing reksa dana saham berdasarkan data per akhir Desember 2007 hingga akhir Desember 2008, ringkasan hasil yang diperoleh seperti keterangan dibawah ini: 4.6.1 Penilaian dari average return Dari tabel dibawah dapat dilihat peringkat dari average return untuk tahun 2008.
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Tabel 19. Peringkat average return periode 2008 Peringkat 1
Reksa Dana Schroder Dana Prestasi Schroder Dana Istimewa Batavia Dana Saham Fortis Pesona Manulife Dana Saham Bahana Dana Prima IHSG Danareksa Mawar Fortis Ekuitas TRIM Kapital
2 3 4 5 6 7 8 9 10
Average Return -0.03770712 -0.03895305 -0.04053840 -0.04670160 -0.04966275 -0.05152930 -0.05200484 -0.05349214 -0.05583987 -0.05886202
Standar Deviasi 0.10865090 0.10865957 0.11610576 0.12094137 0.11536483 0.13845386 0.11601395 0.12120631 0.14264124 0.13853341
Sumber : BAPEPAM & LK (data diolah)
Gambar 22. Grafik peringkat average return periode 2008 (sumber BAPEPAM & LK, data diolah) 4.6.2 Penilaian dari indeks Sharpe dan Jensen Peringkat reksa dana berdasarkan perhitungan menggunakan metode Sharpe dan Jensen dapat terlihat pada tabel dibawah: Tabel 20. Peringkat indeks Sharpe dan Jensen periode 2008 Peringkat 1 2 3 4 5 6 7 8 9 10
Reksa Dana Batavia Dana Saham Schroder Dana Prestasi Schroder Dana Istimewa Bahana Dana Prima Fortis Pesona Fortis Ekuitas TRIM Kapital Manulife Dana Saham Danareksa Mawar IHSG
Sharpe -0.38357828 -0.38383819 -0.39527397 -0.40104733 -0.41920187 -0.41949383 -0.45374808 -0.46513309 -0.47431015 -0.48271857
Peringkat 1 2 3 4 5 6 7 8 9 10
Sumber : BAPEPAM & LK (data diolah)
Reksa Dana Schroder Dana Prestasi Schroder Dana Istimewa Batavia Dana Saham Bahana Dana Prima TRIM Kapital Fortis Pesona Fortis Ekuitas Danareksa Mawar Manulife Dana Saham IHSG (Pasar)
Jensen 0.01484402 0.01274242 0.01155827 0.01125363 0.00894044 0.00845716 0.00499338 0.00267024 0.00249580 -0.00023432
62
Gambar 23. Grafik peringkat Sharpe tertinggi periode 2008 (sumber BAPEPAM & LK, data diolah)
Gambar 24. Grafik peringkat Jensen tertinggi periode 2008 (sumber BAPEPAM & LK, data diolah) 4.6.3 Ringkasan tahun 2008 Krisis subprime mortgage yang terjadi di pertengahan tahun 2007 mencapai puncaknya pada September 2008, mengakibatkan indeks Dow Jones merosot tajam dan beberapa lembaga finansial raksasa dunia mengumumkan kebangkrutannya seperti General Motor, Lehman Brothers di Amerika dan Nothern Rock di Inggris. Limbungnya nama-nama besar dalam industri finansial tersebut menimbulkan kepanikan di kalangan investor, yang membuat indeks bursa Dow Jones merosot tajam. Jika di awal 2008, indeks Dow Jones berada pada level 13.036, maka pada Oktober 2008 terjerembab ke level 8.175 atau terkoreksi 37%.
Kejatuhan indeks Dow Jones
berimbas kepada jatuhnya Indeks Harga Saham Gabungan, dimana pada awal 2008 berada di level 2.830, akibat kepanikan investor
63
terhadap krisis subprime mortgage indeks turun ke level 1.174 atau terkoreksi sebesar 59%. Walaupun krisis keuangan global berimbas pada penurunan IHSG, namun hal tersebut tidak menyebabkan gelombang redemption besar-besaran seperti pada tahun 2005 yang diakibatkan oleh jatuhnya pasar obligasi domestik. Kinerja reksa dana saham menurun secara keseluruhan, namun penurunan tersebut disebabkan oleh menurunnya IHSG yang berimbas pada penurunan harga saham pada reksa dana saham atau reksa dana campuran dan bukan karena redemption, dimana menurut BAPEPAM & LK, Nilai Aktiva Bersih pada bulan Mei sebesar Rp. 97 triliun menurun menjadi Rp. 72 triliun di bulan Oktober 2008. Tingkat redemption dan subscription masih dalam kisaran normal/berimbang dan tidak terlalu fluktuatif, dimana pada bulan September 2008 tingkat redemption adalah sebesar Rp. 6,5 triliun sedangkan tingkat subscription adalah sebesar Rp. 7,1 triliun, dan di bulan Oktober tingkat redemption sebesar Rp. 1,7 triliun dan subscription sebesar Rp. 1,3 triliun (www.bapepam.go.id, 2010). Berdasarkan perhitungan dengan indeks Sharpe peringkat pertama ditempati oleh Batavia Dana Saham sedangkan berdasarkan perhitungan Jensen, peringkat pertama ditempati oleh Schroder Dana Prestasi Plus. Grafik perkembangan kinerja dari peringkat tertinggi tersebut akan disajikan pada gambar dibawah ini.
Gambar 25.
Grafik pergerakan kinerja reksa dana Batavia Dana Saham periode 2008 (sumber BAPEPAM & LK, data diolah)
64
Gambar 26. Grafik pergerakan kinerja reksa dana Schroder Dana Prestasi Plus periode 2008 (sumber BAPEPAM & LK, data diolah) Berdasarkan metode Sharpe dan Jensen, berikut adalah peringkat teratas dan terbawah. Tabel 21. Peringkat tertinggi dan terendah berdasarkan metode Sharpe dan Jensen Tertinggi Terendah Sharpe
Batavia Dana Saham Schroder Dana Prestasi Plus
Jensen 4.7.
Danareksa Mawar Manulife Dana Saham
Periode tahun 2009 Setelah dilakukan perhitungan pada masing-masing reksa dana saham berdasarkan data per akhir Desember 2008 hingga akhir Desember 2009, ringkasan hasil yang diperoleh seperti keterangan dibawah ini: 4.7.1 Penilaian dari average return Dari tabel dibawah dapat dilihat peringkat dari average return untuk tahun 2009. Tabel 22. Peringkat average return periode 2009 Peringkat
Reksa Dana
1 2 3 4 5 6 7 8 9 10
Fortis Ekuitas Batavia Dana Saham Bahana Dana Prima TRIM Kapital Manulife Dana Saham Fortis Pesona Schroder Dana Prestasi Plus Schroder Dana Istimewa Danareksa Mawar IHSG
Average Return 0.06671349 0.06663419 0.06396181 0.06241500 0.06128591 0.06127622 0.06054903 0.05996255 0.05893135 0.05464394
Sumber : BAPEPAM & LK (data diolah)
Standar Deviasi 0.08530840 0.09836955 0.08237204 0.09395221 0.07507968 0.07595727 0.07211889 0.07348434 0.07866426 0.07150707
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Gambar 27. Grafik peringkat average return periode 2009 (sumber BAPEPAM & LK, data diolah) 4.7.2 Penilaian dari indeks Sharpe dan Jensen Peringkat reksa dana berdasarkan perhitungan menggunakan metode Sharpe dan Jensen dapat terlihat pada tabel dibawah: Tabel 23. Peringkat indeks Sharpe dan Jensen periode 2009 Peringkat
Reksa Dana
Sharpe
Peringkat
Reksa Dana
Jensen
1 2 3 4 5 6 7 8 9 10
Schroder Dana Prestasi Plus Manulife Dana Saham Schroder Dana Istimewa Fortis Pesona Fortis Ekuitas Bahana Dana Prima IHSG Danareksa Mawar Batavia Dana Saham TRIM Kapital
0.79422106 0.77271532 0.77148210 0.76366000 0.74368759 0.73679275 0.71843590 0.70757234 0.64413723 0.62951483
1 2 3 4 5 6 7 8 9 10
Fortis Ekuitas Batavia Dana Saham Manulife Dana Saham Schroder Dana Prestasi Plus Schroder Dana Istimewa Fortis Pesona Bahana Dana Prima IHSG Danareksa Mawar TRIM Kapital
0.00741616 0.00645629 0.00536045 0.00486959 0.00456265 0.00328193 0.00220229 0.00062869 -0.00322530 -0.00842384
Sumber : BAPEPAM & LK (data diolah)
Gambar 28. Grafik peringkat Sharpe tertinggi periode 2009 (sumber BAPEPAM & LK, data diolah)
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Gambar 29. Grafik peringkat Jensen tertinggi periode 2009 (sumber BAPEPAM & LK, data diolah) 4.7.3 Ringkasan tahun 2009 Pada Juli 2009, Indeks Harga Saham Gabungan (IHSG) berada pada level 2.380,25 atau meningkat sebesar 75,61% dibandingkan dengan posisi awal tahun yang sebesar 1.355,41 (www.idx.co.id). Sejalan dengan peningkatan IHSG tersebut, Nilai Aktiva Bersih reksa dana saham pun mengalami peningkatan dan berangsur menguat, didukung oleh kondisi politik dan keamanan di Indonesia yang relatif stabil, walaupun di tahun 2009 adalah tahun pemilu (pemilihan anggota legislatif dan presiden). Kondisi ekonomi makro juga mengalami perbaikan, khususnya di tingkat inflasi yang mengalami penurunan sebesar 26,49% dari Desember 2008 sebesar 11,06%
menjadi
sebesar
9,17%
di
bulan
Januari
2009
(http://id.wikipedia.org). Pemulihan pasar modal yang cepat tersebut mendapat pujian dari Philip Kotler, tokoh yang kerap disebut sebagai The Father of Modern Marketing dalam kunjungannya ke Indonesia di bulan Juni 2009, sebagai salah satu yang tercepat di dunia, saat itu IHSG sudah tembus ke level 2.100. Berdasarkan data BAPEPAM & LK, reksa dana saham per bulan Februari 2009 berhasil naik 26% dari total dana kelolaan reksa dana pada bulan yang sama yaitu Rp. 73,44 triliun. Dan pada bulan Maret 2009, total dana kelolaan reksa dana mencapai Rp. 77,39 triliun atau naik 5,39% dibandingkan bulan sebelumnya.
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Berdasarkan perhitungan dengan menggunakan indeks Sharpe peringkat pertama ditempati oleh Schroder Dana Prestasi Plus, sedangkan jika berdasarkan indeks Jensen, peringkat pertama ditempati oleh Fortis Ekuitas,. Pergerakan kinerja Schroder Dana Prestasi Plus dan Fortis Ekuitas dapat dilihat pada gambar dibawah.
Gambar 30. Grafik pergerakan kinerja reksa dana Schroder Dana Prestasi Plus periode 2009 (sumber BAPEPAM & LK, data diolah)
Gambar 31. Grafik pergerakan kinerja reksa dana Fortis Ekuitas periode 2009 (sumber BAPEPAM & LK, data diolah) Berdasarkan metode Sharpe dan Jensen, berikut adalah peringkat teratas dan terbawah. Tabel 24. Peringkat tertinggi dan terendah berdasarkan metode Sharpe dan Jensen 2009 Tertinggi Terendah Sharpe
Jensen
Schroder Dana Prestasi Plus Fortis Ekuitas
TRIM Kapital TRIM Kapital
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4.8.
Selama periode 2005 –2009 Setelah dilakukan perhitungan berdasarkan data per akhir Desember 2004 hingga akhir Desember 2009, diperoleh seperti keterangan dibawah ini: 4.8.1 Penilaian dari average return Dari tabel dibawah dapat dilihat peringkat dari average return selama tahun 2005-2009. Tabel 25. Peringkat average return selama periode 2005-2009 Peringkat
Reksa Dana
1 2 3 4 5 6 7 8 9 10
Fortis Ekuitas TRIM Kapital Fortis Pesona Batavia Dana Saham Schroder Dana Prestasi Plus Manulife Dana Saham Schroder Dana Istimewa Bahana Dana Prima Danareksa Mawar IHSG
Average Return 0.31150084 0.31025717 0.28588641 0.27689610 0.27165868 0.27129956 0.26762707 0.26109024 0.22849845 0.21230959
Standar Deviasi 0.57976883 0.58659206 0.51763098 0.47926296 0.45597407 0.51798322 0.45825409 0.54345936 0.52827295 0.50576844
Sumber: BAPEPAM & LK, data diolah
Gambar 32. Grafik peringkat average return tertinggi periode 20052009 (sumber BAPEPAM & LK, data diolah) 4.8.2 Penilaian dari indeks Sharpe dan Jensen Peringkat reksa dana berdasarkan perhitungan menggunakan metode Sharpe dan Jensen dapat terlihat pada tabel dibawah: Tabel 31. Peringkat indeks Sharpe dan Jensen selama periode 2005-2009 Peringkat
Reksa Dana
Sharpe
Peringkat
Reksa Dana
1 2 3 4 5 6 7 8 9 10
Schroder Dana Prestasi Plus Schroder Dana Istimewa Batavia Dana Saham Fortis Pesona Fortis Ekuitas TRIM Kapital Manulife Dana Saham Bahana Dana Prima Danareksa Mawar IHSG
0.48949615 0.47826292 0.47663806 0.45867673 0.45369758 0.44630002 0.43020396 0.39125118 0.34080360 0.32395944
1 2 3 4 5 6 7 8 9 10
Fortis Ekuitas Fortis Pesona Batavia Dana Saham Schroder Dana Prestasi Plus Manulife Dana Saham TRIM Kapital Schroder Dana Istimewa Bahana Dana Prima Danareksa Mawar IHSG
Sumber : BAPEPAM & LK (data diolah)
Jensen 0.08523408 0.06662326 0.06175099 0.06019384 0.05962297 0.05798080 0.05613601 0.02992200 0.00898878 0.00013688
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Gambar 33. Grafik peringkat Sharpe tertinggi selama periode 20052009 (sumber BAPEPAM & LK, data diolah)
Gambar 34.
Grafik peringkat Jensen tertinggi selama periode 2005-2009 (sumber BAPEPAM & LK, data diolah) 4.8.3 Ringkasan selama tahun 2005 - 2009 Hingga tahun 2009, reksa dana di Indonesia telah mengalami tiga kali krisis; krisis pertama tahun 1997 pemicunya adalah krisis ekonomi Indonesia, krisis kedua tahun 2003, pemicunya adalah belum semua pengelola reksa dana (manajer investasi) menerapkan metode marked to market dalam penghitungan NAB dan krisis ketiga tahun 2005 pemicunya adalah turunnya harga obligasi domestik. Memasuki tahun 2006 industri reksa dana menunjukkan pemulihan sebagai dampak dari peningkatan harga aset keuangan. Pemulihan ini menciptakan semangat baru dunia investasi, dimana sebagai indikatornya adalah Indeks Harga Saham Gabungan yang terus meningkat.
Kenaikan IHSG tersebut menyebabkan harga-harga
saham juga mengalami peningkatan, hal ini membuat reksa dana saham menjadi menarik untuk dijadikan sebagai salah satu alternatif
70
investasi. Krisis subprime mortgage pada pertengahan tahun 2007 yang terjadi di negara Amerika Serikat telah memicu krisis ekonomi global, mengakibatkan indeks Dow Jones merosot tajam. Jika di awal 2008, indeks Dow Jones berada pada level 13.036, maka pada Oktober 2008 terjerembab ke level 8.175 atau terkoreksi 37%. Kejatuhan indeks Dow Jones berimbas kepada jatuhnya Indeks Harga Saham Gabungan, dimana pada awal 2008 berada di level 2.830, akibat kepanikan investor terhadap krisis subprime mortgage indeks turun ke level 1.174 atau terkoreksi sebesar 59%. Walaupun krisis keuangan global berimbas pada penurunan IHSG, namun hal tersebut tidak menyebabkan gelombang redemption besar-besaran seperti pada tahun 2005 yang diakibatkan oleh jatuhnya pasar obligasi domestik. Pada Juli 2009, Indeks Harga Saham Gabungan (IHSG) berada pada level 2.380,25 atau meningkat sebesar 75,61% dibandingkan dengan posisi awal tahun yang sebesar 1.355,41 (www.idx.co.id). Pemulihan IHSG tersebut berdampak positif kepada pertumbuhan reksa dana saham, berdasarkan data BAPEPAM & LK, reksa dana saham per bulan Februari 2009 berhasil naik 26% dari total dana kelolaan reksa dana pada bulan yang sama yaitu Rp. 73,44 triliun. Dan pada bulan Maret 2009, total dana kelolaan reksa dana mencapai Rp. 77,39 triliun atau naik 5,39% dibandingkan bulan sebelumnya. Dari hasil perhitungan terhadap sampel reksa dana selama periode 2005 hingga 2009, berdasarkan indeks Sharpe peringkat pertama ditempati oleh Schroder Dana Prestasi Plus, sedangkan berdasarkan indeks Jensen peringkat pertama ditempati oleh Fortis Ekuitas. Pergerakan kinerja kedua reksa dana tersebut dapat dilihat pada gambar dibawah.
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Gambar 35. Grafik pergerakan kinerja reksa dana Fortis Ekuitas periode 2005-2009 (sumber BAPEPAM & LK, data diolah).
Gambar 36. Grafik pergerakan kinerja reksa dana Schroder Dana Prestasi Plus periode 2005-2009 (sumber BAPEPAM & LK, data diolah). Berdasarkan metode Sharpe dan Jensen, berikut adalah peringkat teratas dan terbawah. Tabel 27. Peringkat tertinggi dan terendah berdasarkan metode Sharpe dan Jensen selama 2005-2009 Tertinggi Terendah Sharpe
Jensen
Schroder Dana Prestasi Plus Fortis Ekuitas
IHSG IHSG
72
KESIMPULAN DAN SARAN
1.
Kesimpulan Berdasarkan hasil pengolahan dan analisa data pada Bab IV dan uraian pada bab-bab sebelumnya, dapat ditarik kesimpulan yaitu: a.
Reksa dana yang memiliki kinerja paling baik berdasarkan metode Sharpe adalah: -
Tahun 2005 (reksa dana TRIM Kapital),
-
Tahun 2006 (reksa dana TRIM Kapital),
-
Tahun 2007 (reksa dana Fortis Ekuitas),
-
Tahun 2008 (reksa dana Batavia Dana Saham),
-
Tahun 2009 (reksa dana Schroder Dana Prestasi Plus),
-
Selama tahun 2005-2009 (reksa dana Schroder Dana Prestasi Plus),
b.
Reksa dana yang memiliki kinerja paling baik berdasarkan metode Jensen adalah:
2.
-
Tahun 2005 (reksa dana TRIM Kapital),
-
Tahun 2006 (reksa dana Fortis Pesona),
-
Tahun 2007 (reksa dana Fortis Ekuitas),
-
Tahun 2008 (reksa dana Schroder Dana Prestasi Plus),
-
Tahun 2009 (reksa dana Fortis Ekuitas),
-
Selama tahun 2005-2009 (reksa dana Fortis Ekuitas).
Saran a.
Untuk mahasiswa, penelitian ini masih menggunakan data sekunder, sehingga masih dapat dikembangkan dengan menggunakan data primer yang langsung diperoleh dari manajer investasi pengelola reksa dana. Beberapa data primer yang dapat digali adalah seperti alokasi sektor maupun saham yang di-overweight pada reksa dana kelolaan mereka. Data primer tersebut diharapkan dapat menginformasikan beberapa hal seperti tingkat agresifitas manajer investasi dalam
73
mengelola reksa dana saham yang dikaitkan dengan pandangan manajer investasi mengenai kondisi pasar saham. Hal tersebut akan menghasilkan evaluasi kinerja reksa dana secara kualitatif yang akurat. b.
Untuk investor, penelitian ini bermanfaat untuk mengevaluasi kinerja masing-masing reksa dana saham pada kondisi pasar yang sedang naik maupun turun. Penelitian ini menunjukkan bahwa saat yang tepat untuk membeli reksa dana saham adalah saat dimana kondisi pasar saham turun. Investor sebaiknya membeli reksa dana saham pada saat kondisi saham berada pada titik terendah. Keunggulan metode Sharpe yang digunakan dalam penelitian ini adalah evaluasi kinerja reksa dana yang bukan hanya mempertimbangkan tingkat imbal hasilnya namun juga tingkat risikonya. Hal tersebut sesuai dengan prinsip investasi ”high risk high return’’, sehingga dalam berinvestasi selalu terdapat dua faktor yang sebaiknya dipertimbangkan yaitu tingkat imbal hasil dan tingkat risiko, yang kemudian dikaitkan dengan tingkat toleransi risiko investor
c.
Untuk manajer investasi, penelitian dengan menggunakan metode Sharpe dan Jensen ini bermanfaat untuk mengevaluasi kinerja historis reksa dana saham dalam berbagai kondisi pasar. Evaluasi terhadap kinerja historis reksa dana tersebut tentunya akan membantu para manajer investasi dalam mengelola portofolio mereka lebih efektif guna mencapai imbal hasil yang optimal bagi para investor. Manajer investasi dapat menggunakan evaluasi kinerja historis reksa dana tersebut yang dikaitkan dengan prediksi pasar ke depannya sebagai pertimbangan dalam membuat strategi dan keputusan investasi yang akurat.
DAFTAR PUSTAKA
Achsien, I.H. 2000. Investasi Syariah di Pasar Modal Menggagas Konsep dan Praktek Manajemen Portofolio Syariah. Penerbit PT Gramedia Pustaka Utama, Jakarta. Ahmad, K. 2004. Dasar-Dasar Manajemen Investasi dan Portofolio. Penerbit PT Rineka Cipta, Jakarta Aroem, S.P. 2005. Analisis Faktor-Faktor yang Mempengaruhi Perkembangan Reksa Dana di Indonesia Periode 2000-2004. Skripsi pada Fakultas Ekonomi dan Manajemen, Institut Pertanian Bogor, Bogor. Bank Indonesia. http://www.bi.go.id/web/id/Moneter/BI+Rate/Data+BI+Rate/1 Juni 2010. BAPEPAM & LK. Pengawasan Pasar Modal http://www.bapepam.go.id/pasar_modal/publikasi_pm/statistik_pm/index.ht m.30 Juni 2010. Fabozzi, F.J. 2000. Manajemen Investasi. Penerbit Salemba Empat, Jakarta. Hastuti, A.T. 2003. Analisis Kinerja Reksa Dana Pendapatan Tetap Berdasarkan Metode Sharpe, Treynor, Jensen Sebagai Alternatif Investasi di Indonesia. Tesis pada Fakultas Ekonomi Program Studi Magister Manajemen, Universitas Indonesia, Jakarta. http://www.bni.co.id/Portals/0/Document/Ulasan%20Ekonomi/Artikel%20Ekonomi %20dan%20Bisnis/Pasar%20modal-sep08.pdf. 8 September 2008 http://id.wikipedia.org/wiki/Inflasi_dan_perekonomian_Indonesia, 1 September 2009 Indonesian Central Securities Depostitory. http://www.ksei.co.id/1 September 2009 Jurnal Management, http://jurnal-sdm.blogspot.com/2009/06/reksadana-mutual funddefinisi-dan.html. 5 Juli 2009 Manurung, A.H. 2008. Reksa Dana Investasiku. Penerbit Buku Kompas, Jakarta. Mandiri Investasi. http://www.mandiriinvestasi.co.id/pojok-investasi.html. 30 Juli 2010. Manajemen Investasi Dari Wikipedia Bahasa Indonesia, Ensiklopedia Bebas. http://id.wikipedia.org/wiki/Manajemen_investasi. 10 Juli 2010.
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Pratomo, E.P. dan U. Nugraha. 2009. Reksa Dana Solusi Perencanaan Investasi di Era Modern. PT Gramedia Pustaka Utama, Jakarta. Pratomo, E.P. 2008. Berwisata Ke Dunia Reksa Dana. PT Gramedia Pustaka Utama, Jakarta. Radcliffe, R. 1990. America.
Investment,Concepts-Analysis-Strategy.
Harper
Collins,
Samsul, M. 2006. Pasar Modal & Manajemen Portofolio. Penerbit Erlangga, Jakarta. Sharpe, W dan Gordon, A. 1995. Investments Bailey Jeffrey.5th Edition. Prentice Hall Inc, Amerika Tandelilin, E. 2002. Analisa Investasi dan Manajemen Portofolio. PT BPFE, Yogyakarta Umar, H. 2007. Metode Penelitian Untuk Skripsi Dan Tesis Bisnis. PT Raja Grafindo Persada, Jakarta. Undang-Undang Pasar Modal. 1995. UU Pasar Modal No. 8 Tahun 1995, Pasal 1 ayat 27. Jakarta Widoatmodjo, S.2009. Pasar Modal Indonesia, Pengantar & Studi Kasus. Penerbit Ghalia Indonesia, Jakarta. 2009. Wikipedia Bahasa Indonesia, Ensiklopedia Bebas. http://id.wikipedia.org/wiki/Sensus Penduduk Indonesia 2010.1 Juli 2010
LAMPIRAN
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Lampiran 1. Perhitungan tahun 2005 Date 1/3/2005 1/4/2005 1/5/2005 1/6/2005 1/7/2005 1/10/2005 1/11/2005 1/12/2005 1/13/2005 1/14/2005 1/17/2005 1/18/2005 1/19/2005 1/20/2005 1/24/2005 1/25/2005 1/26/2005 1/27/2005 1/28/2005 1/31/2005 2/1/2005 2/2/2005 2/3/2005 2/4/2005 2/7/2005 2/8/2005 2/11/2005 2/14/2005 2/15/2005 2/16/2005 2/17/2005 2/18/2005 2/21/2005 2/22/2005 2/23/2005 2/24/2005 2/25/2005 2/28/2005 3/1/2005 3/2/2005 3/3/2005 3/4/2005 3/7/2005 3/8/2005 3/9/2005 3/10/2005 3/14/2005 3/15/2005 3/16/2005 3/17/2005 3/18/2005 3/21/2005 3/22/2005 3/23/2005 3/24/2005 3/28/2005 3/29/2005 3/30/2005 3/31/2005 4/1/2005 4/4/2005 4/5/2005 4/6/2005 4/7/2005 4/8/2005 4/11/2005 4/12/2005 4/13/2005 4/14/2005
1 2 3 4 5 6 7 8 9 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Danareksa Fortis Ekuitas Fortis Pesona TRIM Kapital Prestasi Plus Istimewa Prima Saham Saham Mawar 0.31% 0.05% 0.17% 0.76% -0.15% 0.10% 1.00% -0.46% 0.69% 1.67% 1.65% 2.24% 2.09% 1.89% 2.26% 2.05% 1.64% 2.14% -0.41% -0.91% -0.72% -0.24% 0.17% -0.51% -0.57% -0.22% -0.42% 1.24% 1.29% 1.60% 1.52% 1.43% 1.29% 1.07% 0.87% 1.77% -0.36% 0.50% -0.67% 0.18% 0.21% -0.04% 0.26% -0.59% 2.05% -1.32% -0.65% -1.44% -1.42% -1.41% -1.19% -1.04% -1.28% -4.38% -0.48% 0.02% -0.72% -0.76% -0.92% -0.92% -0.34% -0.23% -0.55% -0.27% 0.40% -0.31% -0.22% -0.33% -0.12% -0.11% -0.10% -0.35% 0.99% 0.80% 1.08% 1.31% 1.39% 1.45% 1.10% 1.28% 1.37% 0.13% -0.53% 0.14% -0.01% 0.02% 0.09% 0.00% -0.08% -0.13% 0.42% 0.08% 0.56% 0.49% 0.49% 0.59% 0.42% 0.64% 0.73% -0.74% -0.27% -1.12% -0.60% -0.40% -0.86% -0.59% -0.73% -0.73% 0.84% 2.61% 1.12% 1.06% 0.98% 1.16% 1.04% 1.05% 1.58% 1.00% 0.23% 1.02% 1.02% 0.75% 0.56% 0.63% 0.77% 0.90% -0.52% -0.11% -0.34% -0.28% -0.34% -0.66% -0.31% 0.00% -0.64% -0.54% -0.22% -0.78% -0.27% -0.27% -0.38% -0.32% -0.40% -0.46% 1.33% 0.46% 1.52% 0.90% 1.21% 0.95% 1.36% 1.13% 1.17% 0.93% 0.54% 1.33% 0.51% 0.63% 0.30% 0.84% 1.21% 0.47% 0.36% 0.00% 0.68% 0.14% -0.20% 0.34% 0.20% 0.20% 0.43% -0.22% -0.06% -0.19% -0.20% -0.04% -0.09% -0.07% -0.42% -0.16% 0.57% 0.00% 0.75% 0.54% 0.37% 0.68% 0.71% 0.63% 0.71% 0.57% 0.00% 0.43% 0.79% 0.70% 0.47% 0.44% 0.38% 0.84% -0.40% 0.00% -0.96% -0.47% -0.49% -0.95% -0.31% -0.31% -0.41% 0.13% 0.85% 0.39% 0.22% 0.09% 0.43% 0.09% -0.07% 0.17% -0.44% -0.05% -0.53% -0.50% -0.57% -0.59% -0.27% -0.55% -0.51% -0.51% -0.02% -0.30% -0.48% -0.52% -0.43% -0.23% -0.56% -0.50% 0.47% 0.49% 0.66% 0.48% 0.53% 0.59% 0.21% 0.42% 0.44% 0.55% 0.36% 0.55% 0.38% 0.80% 0.47% 0.19% 0.69% 0.78% 1.80% 0.63% 2.38% 1.47% 1.43% 1.57% 1.29% 1.83% 1.75% 0.25% 0.35% 0.54% 0.65% 0.40% 0.77% 0.36% 0.03% 0.58% 0.83% 0.91% 1.19% 0.78% 1.00% 1.39% 0.73% 1.01% 0.80% 0.47% 0.69% 1.00% 0.83% 0.34% 0.87% 0.50% 0.18% 1.22% 0.02% -0.06% 0.14% 0.26% 0.01% 0.45% 0.32% -0.08% 0.41% 0.23% 0.36% 0.05% 0.33% 0.50% 0.23% 0.46% 0.48% 0.36% 0.62% 0.88% 0.60% 0.14% 0.54% 0.40% 0.40% 0.54% 0.41% 0.41% 0.58% 0.93% 0.00% 0.37% 0.53% 0.17% 0.31% -0.74% -1.58% -1.61% -2.10% -1.67% -1.48% -1.83% -1.52% -1.29% -0.83% -0.96% -0.55% -1.13% -0.95% -0.95% -0.84% -0.90% -0.73% 1.82% 1.48% 0.84% 1.86% 1.81% 1.11% 1.95% 1.50% 1.27% -0.90% -1.00% -0.86% -1.09% -0.90% -0.78% -0.92% -0.72% -0.94% -6.21% 0.89% 1.34% 0.76% 0.67% 0.70% 0.60% 0.90% 0.77% -0.05% 1.04% 0.80% 1.23% 0.80% 0.73% 0.88% 0.72% 1.16% 5.32% 0.34% 0.53% 0.35% 0.36% 0.49% 0.63% 0.15% 0.39% -1.05% 0.55% 0.52% 0.80% 0.44% 0.79% 0.91% 0.63% 0.49% 3.27% 0.48% 0.52% 0.73% 0.51% 0.66% 0.30% 0.47% -0.16% -4.72% -0.66% -0.45% -0.60% -0.58% -0.77% -0.67% -0.45% -0.74% -5.04% 2.11% 1.17% 2.26% 1.41% 1.89% 1.50% 2.00% 1.14% 8.71% -0.22% 0.47% 0.00% -0.63% -0.36% 0.28% -0.49% -0.07% 0.47% 1.84% 2.03% 1.87% 1.26% 1.72% 1.83% 1.79% 1.36% 4.76% -0.58% -0.65% -0.70% -0.03% -0.15% -0.52% -0.22% -0.35% -0.78% 1.28% 0.74% 0.31% 0.84% 1.13% 0.59% 0.89% 0.76% 1.09% 0.30% 0.12% 0.24% 0.10% 0.15% 0.20% 0.00% 0.18% 0.21% -0.03% -0.16% -0.29% 0.18% -0.20% -0.14% -0.21% -0.16% -0.30% -1.01% -0.94% -1.72% -0.94% -0.62% -1.04% -1.06% -1.10% -1.05% -2.26% -2.64% -2.82% -2.34% -2.57% -2.50% -2.40% -1.99% -2.55% -1.14% -1.25% -0.89% -1.18% -1.23% -0.88% -1.27% -0.75% -1.59% -2.09% -2.10% -2.69% -2.47% -2.48% -2.52% -2.97% -1.92% -2.60% -0.62% -0.48% -1.17% -0.66% -0.64% -0.94% -0.55% -0.29% -0.73% 1.68% 1.61% 2.12% 1.55% 1.51% 2.09% 1.47% 1.55% 1.70% 1.05% 1.25% 1.68% 1.33% 1.18% 1.54% 1.82% 1.38% 1.52% 0.55% 0.23% 0.52% 0.43% 0.37% 0.42% 0.42% 0.38% 0.57% -0.39% -0.32% -0.69% -0.26% -0.51% -0.41% -0.16% -0.32% -0.35% 0.28% 0.35% 0.91% 0.61% 0.34% 0.76% 0.65% 0.21% 0.60% 0.62% 0.75% 0.95% 0.88% 0.75% 0.62% 0.66% 0.46% 0.90% -0.40% -0.26% 0.18% -0.35% -0.57% -0.14% 0.10% -0.46% 0.01% -0.26% -0.32% -0.34% -0.47% -0.26% -0.25% -0.25% -0.17% -0.34% 0.29% 0.40% 0.47% 0.21% 0.20% 0.29% 0.25% 0.25% 0.51% 0.24% 0.48% 0.61% 0.39% 0.44% 0.55% 0.47% 0.70% 0.38% -0.63% -0.55% -0.78% -0.65% -0.69% -0.83% -0.87% -0.65% -0.89%
IHSG 0.06% 1.77% -0.31% 1.42% 0.26% -1.65% -0.37% -0.31% 1.30% -0.03% 0.35% -0.70% 0.99% 0.77% -0.49% -0.37% 1.03% 0.72% 0.14% -0.10% 0.20% 0.51% -0.33% -0.09% -0.65% -0.48% 0.89% 0.47% 1.57% 0.59% 0.89% 0.88% 0.12% 0.56% 0.27% -0.08% -1.69% -0.88% 1.81% -0.96% 1.09% 0.77% 0.21% 0.81% 0.23% -0.78% 1.39% -0.40% 1.72% -0.32% 1.17% 0.32% 0.09% -0.91% -2.42% -1.28% -2.72% -0.48% 1.41% 1.38% 0.47% -0.33% 0.62% 0.76% -0.04% -0.47% 0.44% 0.52% -0.74%
SBI 1 BLN 0.017% 0.017% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017%
79
Lanjutan Lampiran 1. Date 4/15/2005 4/18/2005 4/19/2005 4/20/2005 4/21/2005 4/25/2005 4/26/2005 4/27/2005 4/28/2005 4/29/2005 5/2/2005 5/3/2005 5/4/2005 5/6/2005 5/9/2005 5/10/2005 5/11/2005 5/12/2005 5/13/2005 5/16/2005 5/17/2005 5/18/2005 5/19/2005 5/20/2005 5/23/2005 5/25/2005 5/26/2005 5/27/2005 5/30/2005 5/31/2005 6/1/2005 6/2/2005 6/3/2005 6/6/2005 6/7/2005 6/8/2005 6/9/2005 6/10/2005 6/13/2005 6/14/2005 6/15/2005 6/16/2005 6/17/2005 6/20/2005 6/21/2005 6/22/2005 6/23/2005 6/24/2005 6/27/2005 6/28/2005 6/29/2005 6/30/2005 7/1/2005 7/4/2005 7/5/2005 7/7/2005 7/8/2005 7/11/2005 7/12/2005 7/13/2005 7/14/2005 7/15/2005 7/18/2005 7/19/2005 7/20/2005 7/21/2005 7/22/2005 7/25/2005 7/26/2005
1 2 3 4 5 6 7 8 9 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Danareksa Fortis Ekuitas Fortis Pesona TRIM Kapital Prestasi Plus Istimewa Prima Saham Saham Mawar -0.90% -1.02% -1.48% -1.11% -0.94% -1.23% -1.02% -0.92% -1.17% -2.53% -2.87% -3.09% -2.92% -3.02% -2.98% -3.13% -2.62% -3.03% 0.21% 0.18% 0.25% 0.18% 0.30% 0.27% 0.35% 0.68% 0.45% 1.08% 0.96% 1.16% 0.83% 0.85% 1.01% 0.79% 0.92% 1.18% -1.84% -2.28% -1.91% -2.25% -2.00% -1.65% -1.72% -1.63% -1.92% -2.18% -2.21% -1.98% -2.80% -2.31% -2.41% -2.18% -2.28% -2.98% 1.27% 1.00% 0.83% 1.28% 1.24% 1.07% 1.44% 0.97% 1.95% -0.22% -0.03% 0.05% 0.40% -0.17% -0.01% 0.00% 0.19% 0.49% 0.01% 0.29% 0.63% 0.86% 0.08% 0.71% 0.19% 0.64% 0.64% -0.50% -0.77% -1.00% -0.67% -0.46% -0.66% -0.31% -0.25% -0.81% -0.28% 0.05% -0.07% -0.21% -0.41% -0.12% -0.12% -0.12% -0.26% 0.41% 0.26% 0.48% 0.59% 0.53% 0.61% 0.80% 0.35% 0.83% 1.66% 1.81% 1.80% 1.69% 1.63% 1.50% 1.18% 1.05% 1.42% 1.64% 1.67% 1.02% 1.59% 1.59% 1.19% 1.51% 1.05% 1.98% 0.80% 1.34% 0.71% 0.91% 0.55% 1.20% 0.92% 0.87% 0.97% -0.49% -0.46% -0.44% -0.62% -0.49% -0.54% -0.62% -0.60% -0.55% -1.15% -1.15% -1.41% -1.06% -1.07% -1.53% -1.36% -1.42% -1.40% 0.49% 0.43% 0.69% 0.43% 0.34% 0.59% 0.68% 0.37% 0.95% -0.17% -0.20% 0.04% -0.24% -0.01% -0.16% -0.12% -0.07% -0.51% -1.00% -0.85% -0.56% -0.81% -0.82% -0.87% -0.87% -0.79% -0.91% -0.61% -0.80% -0.28% -0.06% 0.29% -0.45% 0.26% 0.26% -0.06% 0.48% 0.10% -0.54% -0.70% -0.55% -0.03% -0.47% -0.60% -0.33% 1.01% 1.29% 1.18% 0.92% 0.69% 0.94% 1.06% 0.52% 1.00% 0.24% 0.13% -0.18% 0.16% 0.19% -0.14% -0.04% 0.14% 0.19% -0.26% -0.29% -0.34% -0.28% -0.25% -0.31% -0.43% -0.22% -0.32% 0.10% -0.13% 0.10% 0.32% 0.37% 0.24% 0.14% 0.33% 0.12% 0.46% 0.35% 0.74% 0.44% 0.41% 0.49% 0.65% 0.37% 0.57% 0.63% 0.66% 0.61% 0.68% 0.51% 0.68% 0.72% 0.31% 1.06% 0.29% 0.56% -0.09% 0.10% 0.12% 0.19% 0.24% 0.14% 0.54% 2.19% 1.88% 1.83% 2.17% 2.37% 2.40% 2.63% 3.04% 2.17% -0.25% 0.27% -0.18% -0.16% -0.37% -0.43% -0.50% -1.12% 0.17% 0.86% 1.06% 0.75% 0.57% 0.90% 0.91% 0.93% 0.68% 1.08% 0.37% 0.65% 0.51% 0.16% 0.01% 0.24% 0.64% 0.00% 0.42% 0.13% -0.03% 0.13% 0.36% 0.19% 0.15% 0.11% 0.50% -0.36% -0.41% -0.11% -0.25% -0.50% -0.52% -0.64% -0.34% -0.56% 0.03% -0.10% -0.38% 0.74% 0.03% 0.09% 0.29% 0.33% 0.24% 0.75% -0.03% 0.05% 0.02% 0.09% 0.13% 0.13% -0.11% -0.06% 0.03% -0.10% -0.37% -0.23% -0.14% -0.17% -0.07% -0.17% 0.00% -0.28% 0.59% 0.53% 0.64% 0.71% 0.60% 0.58% 0.26% 0.29% 0.66% 0.49% 0.20% 0.49% 0.65% 0.65% 0.55% 0.50% 0.53% 0.70% 1.30% 1.78% 2.20% 1.48% 1.27% 1.58% 1.59% 1.35% 1.81% 0.37% 0.40% 0.50% 0.40% 0.51% 0.67% 0.57% 0.42% 0.66% 1.53% 1.60% 1.93% 1.59% 1.37% 1.41% 1.35% 1.05% 1.78% 0.70% 0.60% 0.51% 0.63% 0.59% 0.63% 0.26% 0.62% 0.52% -0.68% -0.53% -0.57% -0.75% -0.65% -0.82% -0.81% -0.93% -0.45% 0.06% 0.01% 0.41% 0.01% -0.25% 0.14% 0.18% 0.17% 0.14% 0.07% -0.03% 0.20% 0.28% 0.04% 0.11% 0.23% 0.24% 0.00% 0.11% 0.03% -0.17% 0.04% 0.17% 0.02% -0.10% -0.25% 0.16% -1.22% -1.28% -1.87% -1.60% -1.43% -1.54% -1.59% -1.30% -2.05% 0.54% 0.62% 1.07% 0.81% 0.53% 0.80% 0.70% 0.70% 0.81% 0.30% 0.34% -0.10% 0.11% 0.27% 0.27% 0.04% 0.38% -0.04% -0.33% -0.24% -0.60% -0.15% -0.17% -0.48% -0.40% -0.39% -0.30% 1.15% 1.00% 1.46% 1.28% 0.99% 1.35% 1.13% 1.29% 1.49% 0.08% 0.07% -0.14% 0.02% -0.28% 0.09% 0.10% 0.43% -0.13% -0.80% -0.97% -0.52% -0.76% -0.86% -0.75% -0.73% -0.84% -0.95% -1.74% -1.68% -1.34% -1.57% -1.08% -1.49% -1.73% -1.51% -1.64% 0.36% 0.50% 0.32% 0.16% 0.18% 0.35% 0.20% 0.29% 0.15% 1.20% 1.13% 1.23% 1.55% 1.66% 1.27% 1.15% 1.02% 1.48% 0.57% 0.80% 0.56% 0.72% 0.68% 0.44% 0.45% 0.48% 0.61% -0.16% -0.13% -0.45% -0.07% -0.08% 0.01% -0.19% -0.16% 0.18% 0.41% 0.49% 0.17% 0.35% 0.52% 0.19% 0.23% 0.31% 0.39% -0.35% -0.46% -0.45% -0.52% -0.49% -0.43% -0.25% -0.21% -0.44% 0.23% 0.07% 0.76% 0.04% 0.29% 0.18% 0.27% 0.12% 0.46% 0.21% 0.03% 0.22% 0.33% 0.31% 0.30% 0.11% 0.33% 0.40% 0.95% 0.79% 1.44% 0.50% 0.18% 1.31% 1.24% 1.00% 1.07% 1.42% 1.32% 1.85% 1.61% 1.71% 1.80% 1.41% 1.48% 1.59% 0.90% 1.21% 0.50% 0.94% 0.73% 0.81% 0.94% 0.85% 1.02% -0.45% -0.10% -0.91% -0.16% -0.45% -0.44% -0.53% -0.53% -0.56% 1.09% 0.93% 1.70% 1.08% 1.09% 1.40% 1.28% 1.09% 1.19%
IHSG -1.08% -3.31% 0.24% 0.78% -2.16% -2.67% 1.17% 0.04% 0.59% -0.84% -0.30% 0.68% 1.56% 1.78% 1.12% -0.84% -1.31% 0.64% -0.43% -0.99% -0.29% -0.53% 0.50% 0.25% -0.28% 0.37% 0.51% 0.68% 0.14% 2.37% -0.48% 0.79% 0.10% 0.40% -0.37% 0.25% -0.12% 0.25% 0.36% 0.46% 1.24% 0.55% 1.43% 0.52% -1.25% 0.12% 0.24% -0.15% -1.39% 0.71% -0.09% -0.40% 1.48% -0.01% -0.68% -2.01% 0.19% 1.16% 0.50% 0.33% 0.33% -0.45% -0.27% 0.32% 0.76% 1.48% 1.27% -0.21% 0.71%
SBI 1 BLN 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019%
80
Lanjutan Lampiran 1. Date 7/27/2005 7/28/2005 7/29/2005 8/1/2005 8/2/2005 8/3/2005 8/4/2005 8/5/2005 8/8/2005 8/9/2005 8/10/2005 8/11/2005 8/12/2005 8/15/2005 8/16/2005 8/18/2005 8/19/2005 8/22/2005 8/23/2005 8/24/2005 8/25/2005 8/26/2005 8/30/2005 8/31/2005 9/1/2005 9/5/2005 9/6/2005 9/7/2005 9/8/2005 9/9/2005 9/12/2005 9/13/2005 9/14/2005 9/15/2005 9/16/2005 9/19/2005 9/20/2005 9/21/2005 9/22/2005 9/23/2005 9/26/2005 9/27/2005 9/28/2005 9/29/2005 9/30/2005 10/3/2005 10/4/2005 10/5/2005 10/6/2005 10/7/2005 10/10/2005 10/11/2005 10/12/2005 10/13/2005 10/14/2005 10/17/2005 10/18/2005 10/19/2005 10/20/2005 10/21/2005 10/24/2005 10/25/2005 10/26/2005 10/27/2005 10/28/2005 10/31/2005 11/1/2005 11/9/2005 11/10/2005
1 2 3 4 5 6 7 8 9 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Danareksa Fortis Ekuitas Fortis Pesona TRIM Kapital Prestasi Plus Istimewa Prima Saham Saham Mawar -0.20% -0.17% 0.37% 0.01% 0.29% 0.08% -0.09% -0.19% -0.02% 0.68% 0.87% 0.10% 0.38% 0.19% 0.33% 0.80% 0.00% 0.37% 0.23% 0.33% 0.04% 0.12% -0.04% 0.32% 0.21% 0.00% 0.00% -0.07% -0.23% -0.48% 0.01% 0.17% -0.07% -0.20% 0.79% 0.04% 0.48% 0.48% 0.56% 0.77% 0.81% 0.66% 0.48% 0.37% 0.65% 0.01% -0.35% 0.33% 0.12% 0.31% 0.26% 0.03% 0.05% 0.17% -0.42% -0.50% 0.19% -0.34% -0.43% -0.23% -0.37% -0.44% -0.34% -1.27% -1.08% -0.60% -0.94% -1.08% -0.78% -1.13% -1.01% -1.14% -1.02% -0.98% -0.96% -1.03% -0.95% -0.96% -1.16% -1.06% -1.13% 0.11% 0.24% 0.04% -0.01% -0.30% -0.11% 0.11% 0.18% 0.15% 1.02% 1.01% 0.71% 1.09% 0.81% 1.00% 1.02% 0.96% 1.14% 0.00% -0.42% 0.00% -0.40% -0.48% 0.00% 0.02% -0.39% -0.35% -1.60% -1.39% -1.43% -0.96% -1.07% -1.38% -0.89% -0.81% -1.03% -2.67% -2.35% -3.20% -2.99% -2.85% -2.87% -3.12% -2.95% -3.11% -0.45% -0.35% -0.67% -0.35% -0.51% -0.47% -0.85% -0.58% -0.53% -0.77% -1.06% -0.78% -0.78% -0.78% -0.76% -0.74% -0.63% -0.62% -1.47% -1.44% -1.57% -1.26% -1.38% -1.08% -1.14% -1.12% -1.36% -1.06% -1.19% -1.14% -1.24% -1.34% -1.23% -1.16% -1.13% -1.04% -0.89% -0.99% -0.52% -0.89% -0.33% -0.50% -0.72% -0.72% -0.76% -1.56% -1.23% -1.30% -2.18% -1.17% -1.64% -1.60% -1.74% -1.52% 1.91% 1.97% 2.18% 2.20% 1.31% 2.29% 2.20% 2.04% 2.41% -1.19% -1.19% -1.67% -0.95% -1.37% -1.28% -1.31% -1.48% -1.57% -0.74% -0.26% 4.54% -0.96% 4.31% 0.21% -1.02% -0.09% 4.78% 1.11% 1.13% 1.41% 1.00% 0.89% 1.10% 1.17% 1.07% 1.60% -0.94% -0.85% -0.65% -0.91% -1.56% -1.01% -0.98% -1.08% -0.83% -0.72% -0.34% -1.13% -0.56% -0.34% -0.64% -0.77% -0.63% -1.02% 1.46% 1.29% 0.87% 1.00% 1.29% 1.02% 0.91% 1.15% 1.14% 0.63% 0.45% 1.07% 0.82% 0.93% 0.63% 0.72% 0.65% 0.97% 1.69% 1.26% 1.49% 2.12% 0.00% 1.37% 1.46% 1.45% 2.09% 1.22% 0.98% 1.00% 1.52% 3.46% 1.25% 1.36% 1.09% 1.24% 0.59% 0.48% 0.54% 0.64% 0.19% 0.55% 0.35% 0.66% 0.90% -1.83% -1.84% -1.89% -1.73% -1.80% -1.31% -1.42% -1.78% -1.99% -2.19% -1.73% -2.32% -2.14% -1.87% -1.56% -1.81% -2.20% -2.34% -0.76% -0.57% -0.04% -0.68% -0.88% -0.22% -0.39% -0.26% -0.36% 0.23% 0.23% 0.40% 0.49% 0.77% 0.35% 0.70% 0.41% 0.16% 0.78% 0.52% 0.93% 0.66% 0.04% 0.77% 0.58% 0.87% 0.81% -0.87% -1.25% -0.83% -0.82% -0.79% -0.88% -0.98% -0.94% -1.12% -0.93% -1.20% -0.96% -0.98% -1.90% -0.74% -1.00% -0.69% -1.12% -2.44% -1.99% -2.46% -2.24% -2.33% -2.12% -1.82% -2.74% -2.73% -0.53% -0.57% -0.23% -0.77% -0.46% -0.35% -0.52% -0.46% -0.62% 2.13% 2.09% 2.14% 1.80% 1.87% 1.63% 1.56% 2.09% 2.06% 0.22% 0.21% 0.74% 0.49% 0.93% 0.43% 0.74% 0.38% 0.50% -1.19% -1.05% -1.04% -0.98% -1.02% -0.71% -0.92% -0.82% -1.07% 1.81% 1.90% 1.43% 1.77% 1.79% 1.41% 1.45% 1.66% 2.10% 2.66% 2.94% 3.11% 2.97% 2.32% 2.84% 2.70% 2.74% 3.65% 0.19% 0.11% 2.16% 0.59% 0.01% 1.03% 0.96% 1.58% 1.61% 1.52% 1.63% 3.52% 2.07% 1.40% 1.99% 1.92% 2.46% 2.76% -0.11% 0.36% -0.83% -0.22% -0.48% -0.29% -0.14% -0.69% -0.53% -1.21% -1.27% -1.58% -1.01% -1.57% -1.42% -1.16% -1.45% -1.72% -0.87% -0.86% 0.61% -0.04% -0.51% 0.18% 0.14% 0.22% 0.19% 0.67% 0.76% 0.29% 0.22% 0.23% 0.13% -0.03% 0.54% 0.19% -0.15% 0.04% -0.08% 0.12% 0.15% 0.10% -0.05% 0.05% 0.30% -0.56% -0.31% 0.00% -0.47% -0.61% 0.08% 0.11% -0.06% -0.45% -0.80% -1.14% -0.97% -0.56% -0.68% -0.74% -0.30% -0.91% -0.70% 0.56% 0.71% 0.28% 0.68% 0.33% 0.23% 0.46% 0.19% 0.70% -0.28% -0.30% -0.41% -0.28% -0.23% -0.29% -0.25% -0.35% 0.03% 0.64% 0.78% 0.14% 0.51% 0.64% 0.36% 0.47% 0.47% 0.65% -1.69% -1.76% -1.53% -2.02% -1.44% -1.64% -1.57% -1.55% -2.09% 0.05% 0.28% -0.11% 0.22% -0.05% 0.06% 0.42% -0.02% 0.48% 0.02% 0.16% -0.02% -0.09% -0.01% -0.31% 0.08% -0.08% -0.05% -0.44% -0.71% -0.45% -0.22% -0.34% -0.16% -0.37% -0.24% -0.51% -0.74% -0.59% -0.52% -1.01% -0.79% -0.60% -0.58% -0.64% -0.63% -0.11% -0.30% 0.09% -0.06% -0.09% -0.06% 0.13% 0.02% -0.07% 0.41% 1.69% 0.36% 0.03% 0.43% 0.21% -0.26% 0.40% 0.50% -0.58% -0.71% -0.33% -0.48% -0.19% -0.36% -0.47% -0.24% -0.42% 0.62% 0.50% 0.35% 1.87% 0.41% 0.35% 0.51% 0.42% 0.44% -0.18% -0.55% -0.01% -0.13% -0.01% 0.05% -0.18% 0.05% -0.16% -1.06% -1.01% -1.31% -1.45% -2.04% -1.31% -1.07% -1.33% -1.46% -0.81% -0.94% -0.76% -0.52% -0.95% -0.64% -1.30% -0.87% -0.70%
IHSG 0.01% 0.72% -0.36% -0.34% 0.94% 0.24% -0.58% -0.95% -1.32% 0.36% 1.21% -0.75% -1.20% -3.09% -0.40% -1.21% -1.12% -1.07% -0.95% -2.87% 2.55% -1.22% -0.86% 0.99% -1.03% -0.32% 1.52% 0.74% 1.99% 1.67% 0.66% -1.80% -2.50% -0.73% 0.55% 0.93% -1.03% -1.09% -2.61% -0.38% 2.15% 0.29% -0.94% 1.99% 2.95% 0.38% 1.64% 0.26% -0.70% -0.16% 0.74% 0.26% -0.24% -1.13% 0.57% -0.60% 0.53% -1.82% -0.05% 0.05% -0.27% -1.02% 0.00% 0.14% -0.51% 0.75% -0.12% -1.14% -0.87%
SBI 1 BLN 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.021% 0.021% 0.021% 0.021% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.027% 0.027%
81
Lanjutan Lampiran 1. Date 11/11/2005 11/14/2005 11/15/2005 11/16/2005 11/17/2005 11/18/2005 11/21/2005 11/22/2005 11/23/2005 11/24/2005 11/25/2005 11/28/2005 11/29/2005 11/30/2005 12/1/2005 12/2/2005 12/5/2005 12/6/2005 12/7/2005 12/8/2005 12/9/2005 12/12/2005 12/13/2005 12/14/2005 12/15/2005 12/16/2005 12/19/2005 12/20/2005 12/21/2005 12/23/2005 12/27/2005 12/28/2005 12/29/2005
1 2 3 4 5 6 7 8 9 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Danareksa Fortis Ekuitas Fortis Pesona TRIM Kapital Prestasi Plus Istimewa Prima Saham Saham Mawar -1.27% -1.88% -1.75% -1.12% -1.59% -1.45% -1.22% -1.61% -1.39% -0.81% -0.46% -1.19% -1.02% -1.08% -0.86% -0.94% -1.29% -1.28% 0.62% 0.56% 0.28% 0.54% 0.24% 0.39% 0.20% 0.02% 0.85% 1.01% 0.97% 0.72% 0.36% 0.20% 0.28% 0.14% 0.40% 0.49% 0.64% 0.67% 0.27% 0.39% 0.88% 0.20% 0.42% 0.62% 1.18% 1.88% 1.87% 2.09% 1.80% 1.68% 1.65% 2.37% 2.09% 2.34% 0.58% 0.72% 0.92% 0.69% 0.75% 0.47% 0.76% 0.76% 0.75% 0.57% 0.73% 0.55% 0.60% 0.58% 0.61% 1.35% 0.49% 0.87% -0.38% -0.50% -0.57% -0.05% -0.75% -0.19% -0.20% -0.63% -0.10% 1.17% 1.33% 2.00% 1.71% 1.04% 1.44% 1.27% 1.48% 1.85% -0.17% -0.31% -0.10% -0.48% -0.44% -0.23% -0.62% -0.19% -0.32% 0.74% 0.54% 0.17% 0.21% 0.38% 0.40% 0.34% 0.53% 0.26% -0.10% -0.39% 0.70% 0.14% 0.18% 0.56% 0.80% 0.51% 0.36% 0.90% 0.65% 1.65% 1.75% 0.91% 1.67% 2.14% 0.97% 1.99% 0.12% 0.23% -0.70% -0.14% 0.23% -0.46% -0.37% -0.17% -0.27% 1.99% 2.01% 2.38% 2.19% 2.04% 1.87% 2.35% 2.36% 2.53% -0.01% -0.25% 0.02% -0.34% -0.24% 1.56% -0.33% -0.13% 0.11% 0.41% 0.55% 0.28% 0.30% 0.36% -0.14% -0.31% 0.56% -0.09% 2.14% 2.31% 1.83% 2.27% 1.85% 1.58% 1.20% 1.82% 1.89% 0.47% 0.20% 0.36% 0.78% 0.32% 0.54% 0.29% 0.60% 0.59% -0.25% -0.07% 3.51% 0.15% 0.61% 0.33% 1.53% 0.12% 0.39% 1.06% 1.41% 0.59% 1.08% 1.85% 1.50% 2.19% 1.11% 1.57% 0.45% 0.60% 0.13% 0.30% 0.25% 0.32% 0.03% 0.14% -0.07% -0.51% -0.51% -0.23% -0.80% -0.76% -0.53% -1.03% -0.41% -0.62% -1.72% -1.62% -1.57% -1.58% -1.53% -1.60% -1.57% -1.80% -1.94% -0.87% -0.72% -1.42% -1.17% -1.00% -1.12% -1.19% -1.00% -1.32% 1.68% 1.44% 1.72% 1.59% 1.64% 1.39% 1.58% 1.52% 1.79% 0.28% 0.22% 0.42% -0.02% 0.32% 0.28% 0.42% 0.30% 0.55% -0.37% -0.73% -0.43% -0.26% -0.40% -0.27% -0.27% -0.20% -0.55% 0.01% -0.34% -0.47% 0.14% 0.15% -0.10% 0.05% -0.01% 0.43% 0.23% 0.18% 0.28% 0.52% 0.70% 0.42% 0.91% 0.37% 0.88% 0.08% 0.16% -0.29% 0.12% 0.12% -0.02% 0.79% -0.10% 0.39% -0.22% -0.21% -0.14% -0.51% -0.27% -0.26% -0.14% -0.48% -0.32%
Schroder Dana Prestasi Plus 4.36% 3.04% 2.37% -4.26% 6.44% 4.32% 5.79% -10.55% 1.03% -2.86% 3.32% 4.97%
Date January-05 February-05 March-05 April-05 May-05 June-05 July-05 August-05 September-05 October-05 November-05 December-05 Average Return Standard Deviasi Beta SHARPE JENSEN 2005
Schroder Bahana Dana Manulife Batavia Dana Danareksa Dana Fortis Ekuitas Fortis Pesona TRIM Kapital Prima Dana Saham Saham Mawar Istimewa 5.88% 5.19% 5.97% 5.12% 4.33% 6.62% 4.28% 5.46% 3.81% 4.59% 2.80% 3.06% 4.21% 2.63% 2.92% 7.31% 1.16% 0.58% 0.20% 1.08% 1.62% 0.18% 0.58% -2.05% -4.74% -3.05% -4.05% -5.17% -3.34% -2.49% -2.50% -2.29% 6.63% 5.26% 6.04% 5.99% 5.88% 6.76% 4.99% 7.47% 5.19% 6.12% 4.63% 3.76% 4.49% 3.67% 2.54% 6.24% 6.03% 6.91% 6.02% 5.56% 7.11% 5.99% 5.24% 6.65% -10.18% -4.34% -10.12% -5.41% -7.83% -10.38% -8.69% -3.52% 0.97% 2.15% 2.46% 0.62% 2.71% 1.94% 1.54% 2.40% -0.95% 0.98% -0.15% -3.39% -1.13% 0.01% 0.13% 0.68% 2.02% 3.67% 3.43% -0.04% 3.03% 4.27% 1.99% 5.53% 4.86% 6.28% 4.62% 6.24% 5.28% 6.14% 4.60% 5.93%
1.50% 0.05001 0.88 0.219494887 0.002
1.72% 0.05025 0.85 0.263396498 0.005
2.86% 0.03688 0.94 0.667791251 0.016
1.82% 0.04823 0.93 0.294487606 0.005
1.45% 0.04255 0.85 0.246721175 0.002
2.20% 0.04313 0.88 0.416693457 0.009
13.61%
14.80%
29.17%
15.88%
12.28%
22.04%
IHSG -1.41% -1.09% 0.43% 0.37% 0.73% 2.10% 0.71% 0.36% -0.49% 1.61% -0.35% 0.62% 0.11% 1.33% -0.02% 2.10% 0.10% 0.25% 2.49% 0.60% 0.15% 1.29% 0.60% -0.70% -1.51% -1.08% 1.65% 0.06% -0.21% -0.19% 0.29% 0.21% -0.13%
IHSG
SBI 1 BLN 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028%
SBI 1 BLN
4.49% 2.73% 0.75% -4.63% 5.62% 3.15% 5.27% -11.66% 2.99% -1.16% 2.89% 5.94%
0.33% 0.30% 0.35% 0.34% 0.35% 0.39% 0.38% 0.41% 0.46% 0.51% 0.46% 0.53%
2.11% 1.47% 3.32% 1.37% 0.04916 0.03924 0.04091 0.05103 0.89 0.86 1.08 1.00 0.348075352 0.27180582 0.713421362 0.189267315 0.009 0.002 0.019 0.0000402
0.40% 0.00076 0.00 0 0.000
18.72%
13.32%
34.36%
11.90%
4.47%
82
Lampiran 2. Perhitungan tahun 2006 Date 1/2/2006 1/3/2006 1/4/2006 1/5/2006 1/6/2006 1/9/2006 1/11/2006 1/12/2006 1/13/2006 1/16/2006 1/17/2006 1/18/2006 1/19/2006 1/20/2006 1/23/2006 1/24/2006 1/25/2006 1/26/2006 1/27/2006 1/30/2006 2/1/2006 2/2/2006 2/3/2006 2/6/2006 2/7/2006 2/8/2006 2/9/2006 2/10/2006 2/13/2006 2/14/2006 2/15/2006 2/16/2006 2/17/2006 2/20/2006 2/21/2006 2/22/2006 2/23/2006 2/24/2006 2/27/2006 2/28/2006 3/1/2006 3/2/2006 3/3/2006 3/6/2006 3/7/2006 3/8/2006 3/9/2006 3/10/2006 3/13/2006 3/14/2006 3/15/2006 3/17/2006 3/20/2006 3/21/2006 3/22/2006 3/23/2006 3/24/2006 3/27/2006 3/28/2006 3/29/2006 4/3/2006 4/4/2006 4/5/2006 4/6/2006 4/7/2006 4/11/2006 4/12/2006 4/13/2006 4/17/2006
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 0.60% 0.47% 0.73% 0.72% 0.60% 0.52% 0.11% 1.19% 1.30% 0.81% 1.06% 0.93% 0.69% 0.42% 3.03% 3.01% 2.72% 2.34% 2.73% 2.13% 1.56% -0.09% -0.44% 0.43% 0.53% 0.15% 0.83% 1.37% 1.06% 0.82% 1.25% 1.14% 1.08% 1.15% 1.35% 1.75% 1.68% 1.23% 2.04% 1.71% 1.82% 1.87% 0.68% 0.70% 0.59% 1.14% 1.05% 0.90% 1.65% -0.66% -0.88% 0.24% 0.09% -0.21% 0.39% 0.73% -0.83% -0.97% -0.33% -0.01% 0.01% 0.20% 0.94% -1.33% -1.51% -1.60% -1.37% -0.80% -1.25% -1.72% -1.82% -1.68% -2.15% -2.04% -1.75% -1.70% -1.93% -1.78% -1.59% -1.28% -1.48% -1.99% -1.39% -1.13% 3.38% 3.38% 3.23% 3.37% 3.14% 2.87% 2.44% -0.45% -0.51% -0.28% -0.33% -0.32% -0.24% -0.36% -2.33% -2.36% -2.04% -1.96% -2.37% -1.79% -1.48% 0.88% 0.68% 0.86% 0.72% 0.82% 0.64% 0.56% 1.93% 1.97% 1.40% 2.25% 2.17% 1.30% 1.60% -0.34% -0.19% -0.36% 0.05% 0.70% 0.28% 0.65% 0.60% 0.79% 0.31% 0.16% 0.02% -0.05% -0.04% 0.01% -0.35% -0.04% 0.09% 0.80% 0.29% 0.46% 0.73% 1.00% 0.79% 0.70% 0.50% 0.80% 0.71% -0.05% -0.02% 0.25% 0.08% 0.32% 0.47% 0.56% -0.05% 0.02% -0.22% 0.06% 0.21% 0.11% -0.42% 0.34% 0.38% 0.22% 0.29% 0.06% 0.19% 0.35% 0.81% 0.77% 1.68% 0.94% 0.92% 1.82% 1.11% -1.58% -1.73% -1.61% -1.40% -1.74% -1.82% -1.08% 0.69% 0.58% 1.02% 0.96% 0.64% 0.81% 1.30% 0.18% 0.06% 0.60% 0.81% 0.33% 1.04% 1.96% -0.36% 0.08% -0.02% -0.14% 0.11% 0.47% 0.76% -1.72% -1.58% -2.31% -1.73% -2.33% -1.99% -1.32% 0.69% 0.44% 0.73% 1.11% 0.89% 0.72% 0.73% 0.22% 0.09% 0.29% 0.13% -0.13% -0.17% -0.39% 0.56% 0.26% 0.26% 0.73% 0.24% -0.06% 0.13% 0.16% 0.23% 0.63% 0.50% 0.69% 0.44% 0.50% -1.02% -1.17% -0.89% -0.85% -0.57% -0.94% -0.70% -0.48% -0.31% -0.25% -0.16% -0.33% -0.28% 0.14% -0.78% -0.61% -0.57% -0.91% -0.28% -0.42% -0.36% -0.48% -0.56% -0.54% -1.05% -0.02% -0.68% -0.22% 1.92% 1.85% 1.88% 1.67% 1.48% 1.14% 0.71% -0.12% -0.19% -0.13% -0.31% -0.06% -0.06% -0.17% 0.68% 0.43% 0.16% 0.94% 0.63% 0.75% 0.50% 0.68% 0.91% 0.64% 0.64% 0.96% 0.70% 0.54% 0.72% 0.85% 1.08% 0.97% 1.41% 0.73% 0.92% 0.09% 0.03% -0.15% 0.48% 0.34% 0.11% 0.48% -1.42% -1.29% -1.11% -1.84% -1.27% -1.20% -1.01% -0.81% -1.01% -1.13% -0.98% -1.24% -1.19% -0.70% 0.53% 0.48% 0.46% 0.47% 0.15% 0.68% -0.05% 1.05% 1.14% 1.25% 0.95% 1.59% 0.94% 0.50% -0.45% -0.40% -0.26% 0.24% -0.12% -0.18% 1.45% -0.02% -0.10% 0.07% -0.21% -0.08% -0.01% 0.05% -0.17% -0.13% -0.29% 0.07% -0.30% -0.22% 0.10% 5.35% 5.36% 4.82% 4.90% 4.89% 4.00% 3.50% 2.07% 2.32% 1.68% 1.88% 1.37% 1.37% 1.61% -0.16% -0.29% -0.42% -0.01% -0.45% -0.33% 0.20% -2.16% -2.16% -2.41% -2.14% -2.39% -1.72% -1.47% 0.13% 0.12% 0.20% -0.04% 0.17% 0.14% 0.38% 0.36% 0.53% 0.31% 0.35% 0.73% 0.38% 0.36% 0.05% -0.05% 0.15% 0.13% -0.03% 0.13% 0.69% 1.81% 1.77% 1.69% 1.56% 1.44% 1.20% 1.14% -0.16% -0.15% -0.26% -0.17% -0.12% -0.62% -0.34% 0.71% 0.66% 0.73% 0.48% 0.33% 0.62% 0.36% -0.19% 0.05% -0.18% -0.41% -0.44% -0.24% -0.26% 1.48% 1.62% 1.30% 1.37% 1.52% 1.22% 0.18% 0.92% 0.67% 1.04% 1.21% 1.50% 1.10% 1.13% 0.97% 0.97% 1.34% 1.05% 1.77% 0.71% 1.33% -0.07% -0.21% 0.03% -0.51% -0.09% 0.03% -0.50% 0.64% 0.45% 0.95% 0.43% 1.20% 0.82% 0.77% 0.44% 0.80% -0.05% 0.21% -0.21% -0.44% 0.06% 0.19% 0.25% 0.23% 0.53% 0.75% 0.50% 0.96%
8 9 Danareksa TRIM Kapital Mawar 0.64% 0.57% 0.86% 1.02% 2.41% 2.95% 0.52% 0.42% 0.86% 1.53% 1.46% 2.32% 0.99% 1.66% -0.28% 0.43% -0.53% 0.06% -1.26% -1.45% -1.89% -2.36% -1.27% -1.91% 2.64% 3.69% -0.39% -0.53% -1.73% -2.42% 1.00% 0.85% 1.65% 2.02% -0.10% -0.18% 0.21% 0.07% -0.07% 0.60% 0.57% 0.86% -0.04% 0.08% -0.35% 0.55% 0.00% 0.48% 1.15% 1.72% -1.40% -1.84% 0.54% 1.28% 0.43% 1.03% -0.02% 0.29% -2.01% -2.68% 0.64% 0.43% 0.08% 0.04% 0.81% 0.33% 0.44% 0.97% -0.69% -0.54% -0.29% -0.53% -0.38% -0.93% -0.79% -0.67% 1.72% 1.73% -0.03% 0.01% 0.64% 1.12% 0.53% 0.36% 1.34% 0.56% 0.28% 0.43% -1.20% -1.80% -1.34% -1.39% 0.33% 0.14% 0.51% 1.60% -0.22% 0.15% 0.26% 0.14% -0.47% -0.06% 4.65% 5.57% 1.39% 1.99% -0.46% -0.23% -2.51% -2.65% 0.26% -0.15% 0.25% 0.50% 0.08% -0.10% 1.21% 1.87% -0.40% 0.08% 0.57% 0.55% -0.11% -0.56% 0.83% 1.36% 0.88% 1.19% 1.45% 1.02% 0.24% -0.03% 1.14% 0.79% 0.04% 0.26% 0.44% 0.84%
IHSG 0.78% 1.11% 2.28% -0.06% 0.93% 1.87% 1.30% -0.40% -0.46% -1.21% -1.81% -1.62% 3.09% -0.58% -1.86% 0.59% 1.90% -0.28% 0.25% 0.21% 0.68% 0.22% 0.06% 0.12% 1.10% -1.68% 0.68% 0.52% -0.06% -1.76% 0.53% 0.08% 0.45% 0.32% -0.91% -0.39% -0.58% -0.66% 1.59% -0.39% 0.70% 0.84% 0.93% 0.11% -1.30% -1.02% 0.48% 0.63% -0.30% 0.14% -0.08% 4.88% 1.91% -0.22% -1.87% 0.25% 0.44% 0.04% 1.01% -0.17% 0.48% -0.22% 1.37% 0.77% 0.61% -0.23% 0.90% 0.71% 0.34%
SBI 1 BLN 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028%
83
Lanjutan Lampiran 2. Date 4/18/2006 4/19/2006 4/20/2006 4/21/2006 4/24/2006 4/25/2006 4/26/2006 4/27/2006 4/28/2006 5/1/2006 5/2/2006 5/3/2006 5/4/2006 5/8/2006 5/9/2006 5/10/2006 5/11/2006 5/12/2006 5/15/2006 5/16/2006 5/17/2006 5/18/2006 5/19/2006 5/22/2006 5/23/2006 5/24/2006 5/29/2006 5/30/2006 5/31/2006 6/1/2006 6/2/2006 6/5/2006 6/6/2006 6/7/2006 6/8/2006 6/9/2006 6/12/2006 6/13/2006 6/14/2006 6/15/2006 6/16/2006 6/19/2006 6/20/2006 6/21/2006 6/22/2006 6/23/2006 6/26/2006 6/27/2006 6/28/2006 6/29/2006 6/30/2006 7/3/2006 7/4/2006 7/5/2006 7/6/2006 7/7/2006 7/10/2006 7/11/2006 7/12/2006 7/13/2006 7/14/2006 7/17/2006 7/18/2006 7/19/2006 7/20/2006 7/21/2006 7/24/2006 7/25/2006 7/26/2006
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 2.39% 2.36% 2.65% 2.34% 2.84% 2.30% 1.46% 3.28% 3.34% 4.21% 2.89% 4.05% 3.48% 2.13% 0.54% 0.39% 0.21% 1.36% 0.99% 1.04% 1.16% -0.69% -0.75% -0.58% 0.87% -0.18% -0.20% 1.86% -0.98% -1.05% -1.03% -1.23% -0.72% -0.77% -0.42% 0.70% 0.68% 1.16% 1.01% 1.23% 1.34% 0.73% 1.81% 1.59% 1.48% 2.26% 1.56% 2.00% 1.64% -0.69% -0.62% -0.68% -0.11% -0.47% -0.15% 0.21% -0.97% -1.30% -1.61% -0.71% -1.76% -1.30% -0.54% 0.95% 0.83% 1.09% 0.92% 1.58% 1.35% 1.12% -0.23% -0.56% -0.67% -0.01% -0.84% -0.50% 0.07% 1.39% 1.47% 1.04% 1.66% 1.03% 1.00% 1.14% -0.67% -0.69% -0.61% -1.31% -0.79% -0.23% 0.41% 1.11% 1.47% 0.71% 2.05% 1.66% 1.80% 1.76% 1.44% 1.35% 1.92% 1.29% 0.93% 1.42% 1.23% 0.62% 0.57% 1.02% 0.38% 0.99% 0.74% 0.18% 0.57% 1.10% 0.53% 1.71% 1.18% 1.43% 1.86% -1.95% -2.12% -1.90% -1.95% -1.87% -1.96% -1.26% -6.49% -7.01% -6.66% -6.96% -7.18% -6.50% -7.37% 0.85% 0.75% 0.27% 0.42% 0.28% 0.63% -0.32% 2.31% 2.38% 2.15% 3.03% 2.57% 2.34% 3.01% -3.77% -4.04% -3.39% -4.21% -4.34% -3.82% -4.69% -0.87% -1.06% -0.66% -0.56% -0.84% -0.47% -1.11% -5.63% -6.14% -5.45% -6.45% -6.83% -6.63% -8.01% 1.82% 2.29% 0.87% 2.08% 1.28% 1.62% 2.84% -0.22% -0.41% 1.02% -0.40% 0.45% 0.38% -0.95% 0.42% 0.14% 0.43% 1.01% 1.41% 1.18% 1.44% 2.48% 2.58% 3.29% 2.57% 3.24% 2.46% 3.22% -2.34% -2.42% -3.04% -2.33% -2.58% -1.91% -1.91% -0.81% -1.38% -0.57% -1.10% -1.10% -0.92% -1.83% 1.54% 1.84% 1.33% 1.43% 1.34% 1.20% 1.46% 0.32% 0.16% 0.29% 0.36% 0.59% 0.35% 0.20% -2.13% -2.10% -2.56% -2.19% -2.59% -2.33% -2.01% -1.69% -1.61% -1.86% -2.24% -2.27% -1.85% -2.57% -3.49% -4.00% -3.51% -3.54% -3.56% -3.48% -3.32% 2.70% 2.93% 2.07% 2.74% 2.54% 2.53% 1.20% -0.02% -0.08% 0.33% -0.04% 0.37% 0.32% -0.10% -2.53% -2.41% -2.48% -2.78% -2.29% -2.34% -2.94% -0.11% -0.33% -0.37% -0.41% -0.34% -0.52% -2.20% 0.62% 0.55% 0.31% 0.52% 0.22% 0.03% -0.03% 5.58% 5.81% 5.72% 5.20% 5.24% 5.00% 5.09% -0.96% -0.96% -1.08% -0.82% -0.88% -0.70% -0.71% -0.08% -0.11% -0.18% -0.01% -0.16% -0.40% -0.81% -0.11% -0.17% 0.29% 0.00% 0.28% 0.19% 0.79% 0.73% 0.55% 1.03% 1.07% 1.15% 0.84% 1.76% -0.67% -0.69% -0.71% -0.59% -0.90% -0.65% -0.87% -0.31% -0.22% -0.34% -0.35% 0.00% -0.40% 0.29% 0.10% 0.22% 0.61% 0.27% 0.97% 0.21% 0.80% -1.01% -1.36% -0.82% -0.59% -0.51% -0.80% -0.43% 0.40% 0.66% 0.28% 0.57% 0.30% 0.02% 1.07% 2.36% 2.48% 2.23% 2.46% 1.97% 2.42% 1.89% 1.74% 2.13% 1.83% 1.55% 1.44% 1.51% 1.99% 0.70% 0.75% 0.76% 0.80% 0.67% 1.27% 1.47% -0.07% -0.31% -0.22% -0.02% 0.02% -0.20% 0.39% 0.12% 0.06% 0.41% -0.37% -0.23% 0.03% 0.04% 0.36% 0.28% 0.49% 0.72% 0.70% 0.24% 0.29% -0.46% -0.50% -0.33% -0.29% -0.28% -0.30% -0.11% 0.20% 0.18% 0.20% 0.30% 0.59% 0.30% 0.42% 0.15% 0.19% 0.16% 0.10% -0.01% 0.02% -0.24% -0.97% -1.25% -1.33% -0.76% -1.33% -1.21% -1.14% -1.94% -1.79% -2.01% -2.06% -1.75% -1.93% -1.91% -1.74% -1.86% -2.00% -1.88% -1.80% -1.87% -2.12% 0.11% 0.04% 0.29% 0.60% 0.11% 0.15% 0.76% -0.19% -0.25% 0.06% -0.21% -0.36% -0.12% -0.35% 2.56% 2.79% 2.58% 2.42% 2.55% 2.69% 2.71% 0.12% 0.20% 0.28% -0.07% 0.08% 0.14% 0.02% -0.59% -0.63% -0.48% -0.09% -0.01% -0.15% 0.20% 0.38% 0.59% 0.90% 0.60% 0.74% 0.77% 1.00% 0.34% 0.37% 0.84% 0.74% 0.70% 0.75% 0.61%
8 9 Danareksa TRIM Kapital Mawar 2.14% 2.07% 3.73% 3.71% 0.42% 0.74% -0.34% 0.56% -0.31% -0.94% 1.54% 1.48% 2.91% 2.35% -0.72% -0.89% -1.42% -0.78% 1.74% 1.79% -0.77% 0.26% 1.32% 1.34% -0.26% -0.23% 1.90% 2.66% 1.45% 1.18% 1.31% 0.31% 1.42% 2.38% -1.84% -2.50% -7.43% -8.17% 0.45% 1.02% 2.01% 4.25% -3.79% -4.83% -0.29% -0.51% -6.29% -8.29% 1.25% 2.79% -0.23% -1.11% 1.38% 1.28% 2.58% 3.21% -2.43% -2.28% -0.72% -1.70% 1.44% 1.64% 0.27% 0.29% -2.40% -2.24% -2.15% -2.20% -3.28% -3.55% 2.40% 3.16% 0.15% 0.33% -2.23% -2.76% -1.17% -1.63% 0.45% 0.55% 4.77% 5.80% -0.90% -1.18% -0.35% -0.17% 0.20% 0.07% 0.93% 1.34% -0.69% -0.66% -0.16% -0.26% 0.35% 0.29% -0.66% -0.80% 0.44% 0.69% 2.07% 2.73% 1.42% 2.29% 1.00% 1.35% 0.04% 0.11% 0.24% -0.07% 0.56% 0.24% -0.25% -0.39% 0.34% 0.50% 0.12% -0.01% -1.28% -1.22% -1.94% -2.82% -1.81% -2.28% 0.16% 0.45% -0.14% -0.20% 2.59% 2.94% 0.27% -0.08% -0.19% -0.50% 0.86% 0.75% 0.62% 0.28%
IHSG 2.21% 2.53% 0.78% -0.36% -1.13% 1.10% 1.57% -0.48% -0.69% 0.82% -0.04% 1.57% -0.98% 1.59% 1.64% 0.44% 0.89% -1.76% -6.31% -0.12% 2.41% -4.19% -0.56% -6.03% 1.32% -0.23% 0.81% 2.42% -2.65% -0.63% 1.98% 0.10% -2.38% -2.26% -3.56% 2.69% -0.13% -2.87% -0.19% 0.60% 5.47% -1.11% -0.01% -0.13% 0.79% -1.02% -0.49% 0.14% -1.06% 0.21% 2.79% 1.33% 0.76% 0.03% 0.13% 0.59% -0.60% 0.31% 0.14% -0.88% -2.28% -1.51% 0.16% -0.43% 2.74% -0.08% -0.87% 0.35% 0.39%
SBI 1 BLN 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027%
84
Lanjutan Lampiran 2. Date 7/27/2006 7/28/2006 7/31/2006 8/1/2006 8/2/2006 8/3/2006 8/4/2006 8/7/2006 8/8/2006 8/9/2006 8/10/2006 8/11/2006 8/14/2006 8/15/2006 8/16/2006 8/22/2006 8/23/2006 8/24/2006 8/25/2006 8/28/2006 8/29/2006 8/30/2006 8/31/2006 9/1/2006 9/4/2006 9/5/2006 9/6/2006 9/7/2006 9/8/2006 9/11/2006 9/12/2006 9/13/2006 9/14/2006 9/15/2006 9/18/2006 9/19/2006 9/20/2006 9/21/2006 9/22/2006 9/25/2006 9/26/2006 9/27/2006 9/28/2006 9/29/2006 10/2/2006 10/3/2006 10/4/2006 10/5/2006 10/6/2006 10/9/2006 10/10/2006 10/11/2006 10/12/2006 10/13/2006 10/16/2006 10/17/2006 10/18/2006 10/19/2006 10/20/2006 10/30/2006 10/31/2006 11/1/2006 11/2/2006 11/3/2006 11/6/2006 11/7/2006 11/8/2006 11/9/2006 11/10/2006
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 1.52% 1.56% 1.19% 1.58% 0.78% 0.92% 0.91% 0.17% 0.10% -0.08% 0.18% 0.12% -0.24% -0.31% 0.91% 0.85% 1.25% 1.08% 0.84% 1.09% 1.16% 1.56% 1.63% 1.70% 1.50% 1.02% 1.49% 1.26% 1.38% 1.37% 1.34% 1.48% 0.86% 1.31% 0.87% -0.76% -0.88% -0.74% -0.91% -0.71% -0.81% -1.05% 0.66% 0.84% 0.68% 1.06% 0.80% 0.52% 0.90% 0.79% 0.70% 0.62% 1.20% 0.83% 0.93% 0.76% -0.32% -0.21% 0.20% -0.20% -0.03% 0.17% 0.16% 1.43% 1.54% 1.76% 1.22% 1.02% 1.57% 1.17% -2.00% -2.17% -2.48% -2.79% -2.28% -2.40% -2.58% 1.08% 1.15% 1.18% 1.31% 1.32% 1.27% 0.97% 1.09% 1.48% 0.80% 0.70% 1.04% 0.88% 0.45% 0.88% 1.00% 0.80% 1.13% 0.59% 0.78% 1.05% 1.14% 1.52% 1.05% 1.06% 1.16% 1.10% 0.99% -0.10% -0.04% -0.53% -0.58% 0.21% -0.10% -0.78% 0.09% -0.20% -0.30% -0.25% -0.17% -0.39% 0.17% -0.52% -0.74% -0.56% -0.51% -0.87% -0.82% -0.57% -1.18% -1.23% -1.36% -1.47% -1.38% -1.01% -1.46% 0.11% -0.05% 0.10% 0.05% 0.03% -0.16% -0.65% 1.10% 1.15% 1.59% 1.58% 1.03% 1.31% 1.33% -0.54% -0.48% -0.48% -0.57% -0.59% -0.68% -0.49% 0.49% 0.51% 0.76% 0.55% 0.20% 0.44% 0.68% 1.10% 1.14% 0.88% 0.87% 0.86% 1.01% 0.60% 1.71% 1.72% 1.74% 1.53% 1.60% 1.91% 1.45% 0.07% 0.13% -0.09% -0.31% -0.05% -0.15% -0.75% -0.02% 0.25% -0.13% -0.17% 0.05% -0.14% 0.17% -0.27% -0.19% -0.54% -0.40% -0.17% -0.38% -0.39% -0.13% -0.10% -0.19% -0.17% -0.04% -0.19% -0.21% -1.29% -1.50% -1.35% -1.63% -1.40% -1.47% -1.24% -1.08% -1.06% -1.33% -1.17% -1.15% -1.23% -1.05% 1.55% 1.62% 1.12% 0.94% 1.11% 0.84% 0.34% 0.85% 0.86% 0.87% 0.96% 0.31% 0.74% 0.83% 0.25% 0.30% 0.21% 0.16% 0.49% 0.27% 0.29% 0.55% 0.55% 0.61% 0.34% 0.67% 0.44% -0.16% 0.79% 0.76% 0.96% 0.79% 0.94% 0.85% 0.62% -0.42% -0.37% -0.11% 0.00% -0.26% -0.27% -0.22% 1.64% 1.83% 1.72% 2.01% 1.90% 1.68% 1.76% 0.20% -0.02% 0.56% 0.59% 0.33% 0.39% 0.59% -0.17% -0.07% -0.22% -0.32% -0.44% -0.19% -0.25% -0.70% -0.65% -0.87% -0.96% -0.87% -0.78% -1.28% 1.16% 1.12% 1.19% 1.12% 1.56% 1.31% 1.33% 0.18% 0.39% -0.05% 0.03% -0.05% 0.33% -0.05% 0.05% 0.15% 0.19% 0.20% -0.21% -0.03% 0.16% -0.49% -0.52% -0.30% -0.38% -0.39% -0.62% -0.39% 0.71% 0.86% 0.99% 1.04% 0.95% 1.22% 1.19% 0.05% 0.24% -0.42% -0.27% -0.50% -0.26% -0.19% 0.59% 0.49% 0.54% 0.58% 0.54% 0.45% 0.26% 0.21% 0.23% 0.39% 0.43% 0.30% 0.36% 0.67% -0.43% -0.61% -0.38% -0.34% -0.49% -0.45% -0.75% 1.20% 1.30% 1.08% 1.05% 1.05% 0.76% 1.50% -0.06% -0.21% 0.09% 0.14% -0.07% 0.14% -0.30% -0.03% -0.31% 0.07% 0.01% 0.29% -0.36% -1.54% 1.63% 1.64% 1.71% 1.66% 1.95% 1.54% 1.61% -0.92% -0.85% -0.99% -0.71% -0.97% -0.68% -0.81% 0.03% 0.20% 0.27% 0.37% 0.16% 0.19% 0.08% -0.22% -0.18% -0.33% -0.23% -0.24% -0.33% -0.45% 0.25% 0.14% 0.19% 0.21% -0.02% 0.39% -0.02% 0.38% 0.41% 0.51% 0.41% 0.43% 0.52% 0.48% 0.58% 0.47% 1.00% 1.04% 0.52% 0.82% 0.51% 0.05% -0.10% 0.12% 0.17% 0.19% 0.00% -0.53% 0.45% 0.48% 0.33% 0.35% 0.75% 0.36% -0.12% 1.26% 1.11% 1.65% 1.43% 1.12% 1.26% 0.76% 0.26% 0.28% 0.68% 0.50% 0.05% 0.56% 0.49% 1.65% 1.77% 1.43% 1.31% 1.14% 1.44% 2.12% 0.67% 0.74% 0.45% 0.44% 0.42% 0.62% -0.15% -0.56% -0.59% -0.57% -0.44% -0.98% -0.60% -0.54% 0.63% 0.78% 0.49% 0.68% 0.30% 0.46% -0.01% 0.09% 0.00% 0.34% 0.21% 0.50% 0.19% 0.23%
8 9 Danareksa TRIM Kapital Mawar 0.76% 1.67% 0.02% -0.32% 0.99% 1.31% 1.39% 1.78% 1.08% 1.73% -0.61% -0.88% 0.53% 0.76% 0.63% 0.92% 0.12% -0.01% 1.37% 1.74% -2.09% -2.74% 1.08% 1.41% 0.79% 1.31% 0.67% 0.87% 1.12% 1.42% -0.14% -0.32% -0.11% -0.18% -1.02% -0.89% -1.03% -1.58% 0.13% -0.20% 1.01% 1.59% -0.55% -0.70% 0.37% 0.25% 0.83% 1.16% 1.94% 2.16% -0.10% -0.28% 0.16% -0.02% -0.30% -0.48% -0.14% -0.15% -1.52% -1.80% -1.26% -1.23% 0.82% 1.29% 0.71% 1.03% 0.24% 0.15% 0.35% 0.52% 1.17% 0.86% -0.47% -0.12% 1.38% 1.98% 0.26% 0.14% -0.10% -0.21% -0.79% -0.86% 1.26% 1.36% 0.15% 0.15% -0.15% -0.12% -0.69% -0.60% 0.77% 0.82% -0.29% 0.03% 0.47% 0.61% 0.33% 0.11% -0.38% -0.56% 1.08% 1.41% -0.23% -0.17% -0.03% -0.11% 1.54% 1.87% -0.85% -0.80% 0.13% 0.21% -0.55% -0.29% 0.28% 0.28% 0.46% 0.33% 0.54% 0.52% -0.20% 0.31% 0.18% 0.35% 1.23% 1.31% 0.36% 0.41% 1.75% 1.26% 0.79% 0.59% -0.49% -0.46% 0.41% 0.68% 0.11% 0.20%
IHSG 1.35% 0.51% 1.06% 1.48% 1.65% -1.05% 0.70% 1.02% -0.53% 1.22% -2.00% 1.25% 0.93% 0.64% 0.95% -0.19% 0.25% -0.64% -0.88% 0.08% 1.05% -0.54% 0.42% 0.92% 1.74% -0.09% 0.29% -0.14% -0.26% -1.32% -0.83% 1.11% 0.70% 0.30% 0.58% 0.75% -0.41% 1.90% 0.23% -0.27% -0.44% 1.53% 0.71% 0.05% -0.37% 0.58% -0.04% 0.51% 0.30% -0.40% 0.74% -0.12% -0.23% 1.46% -0.66% 0.32% -0.15% 0.26% 0.27% 0.47% 0.15% 0.46% 1.12% 0.33% 1.73% 0.81% -0.49% 0.86% 0.28%
SBI 1 BLN 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.023% 0.023% 0.023%
85
Lanjutan Lampiran 2. Date 11/13/2006 11/14/2006 11/15/2006 11/16/2006 11/17/2006 11/20/2006 11/21/2006 11/22/2006 11/23/2006 11/24/2006 11/27/2006 11/28/2006 11/29/2006 11/30/2006 12/1/2006 12/4/2006 12/5/2006 12/6/2006 12/7/2006 12/8/2006 12/12/2006 12/13/2006 12/14/2006 12/15/2006 12/18/2006 12/19/2006 12/20/2006 12/21/2006 12/22/2006 12/26/2006 12/27/2006 12/28/2006
Date January-06 February-06 March-06 April-06 May-06 June-06 July-06 August-06 September-06 October-06 November-06 December-06
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham -1.73% -1.63% -1.63% -1.57% -1.49% -1.88% -1.31% 1.75% 0.00% 0.00% 1.75% 0.00% 0.00% 0.00% 0.06% 1.75% 1.94% 0.01% 2.05% 2.31% 1.20% -0.02% -0.02% -0.10% 0.00% -0.10% 0.02% 0.14% 0.21% 0.38% 0.23% 0.34% 0.17% 0.18% 0.51% 0.58% 0.45% 0.48% 0.54% 0.45% 0.32% 0.19% 0.10% 0.14% 0.27% 0.17% 0.04% 0.01% -0.16% 1.29% 1.72% 1.19% 1.27% 0.99% 1.25% 1.65% 0.05% 0.02% -0.18% -0.25% 0.01% 0.01% -0.47% 0.39% 0.27% 0.47% 0.47% 0.52% 0.75% -0.17% 0.67% 0.35% 1.15% 0.89% 0.59% 0.91% 0.08% -2.28% -2.18% -2.49% -2.39% -3.07% -2.61% -2.55% 1.41% 1.26% 1.43% 1.44% 1.24% 1.06% 0.90% 0.54% 0.68% 0.41% 0.30% 0.45% 0.61% 0.13% 1.09% 1.91% 1.19% 1.02% 0.85% 1.12% 0.86% -0.69% -0.43% -0.82% -0.59% -0.97% -0.78% -0.74% 2.33% 2.69% 2.56% 2.48% 2.45% 2.59% 2.99% 0.38% 0.64% 0.56% 0.51% 0.34% 0.64% 1.46% -0.11% 0.36% -0.19% -0.02% -0.22% -0.21% 0.33% -0.15% 0.03% -0.39% -0.40% -0.13% -0.46% -0.20% -0.49% -0.73% -0.75% -0.64% -0.62% -0.88% -1.31% -0.02% 0.25% -0.30% -0.21% -0.13% -0.18% -0.22% 0.45% 0.20% 0.41% 0.20% 0.56% 0.40% -0.25% 1.01% 1.07% 1.05% 1.15% 0.98% 0.99% 1.12% 0.08% -0.16% 0.03% -0.12% 0.00% 0.13% -0.24% -2.95% -3.02% -2.82% -2.77% -2.87% -2.76% -3.07% 1.78% 1.70% 1.83% 1.69% 2.00% 1.56% 2.18% 1.39% 1.23% 1.37% 1.31% 1.21% 1.37% 1.26% -0.08% -0.15% -0.22% -0.03% 0.08% -0.04% -0.03% -0.07% -0.15% -0.29% -0.33% -0.35% -0.10% -0.16% 1.05% 1.06% 0.92% 0.97% 0.88% 0.95% 1.34% -0.13% -0.26% -0.37% -0.29% -0.46% 0.00% -0.08%
Bahana Dana Manulife Dana Batavia Dana Schroder Dana Schroder Dana Fortis Ekuitas Fortis Pesona Prima Saham Saham Prestasi Plus Istimewa 5.49% 4.33% 5.72% 8.52% 8.47% 7.59% 9.04% -0.34% -1.86% 0.56% 1.20% 0.34% 1.49% 4.43% 8.19% 7.84% 6.26% 7.09% 7.76% 5.47% 8.38% 10.46% 11.49% 12.64% 14.42% 15.20% 12.66% 13.06% -8.23% -9.52% -8.05% -7.05% -8.67% -5.66% -7.32% 0.41% -0.21% 0.04% -0.07% 0.36% -1.29% -3.27% 3.41% 3.49% 4.80% 4.93% 3.58% 3.87% 5.78% 6.37% 6.88% 6.14% 5.55% 4.09% 5.40% 3.16% 6.01% 6.86% 5.17% 4.42% 5.20% 4.94% 2.51% 3.54% 3.20% 4.57% 5.17% 3.70% 3.70% 1.32% 7.46% 7.78% 7.99% 7.45% 5.17% 7.26% 2.92% 4.88% 6.26% 3.78% 3.93% 3.60% 4.34% 5.25%
8 9 Danareksa TRIM Kapital Mawar -1.35% -1.77% 0.00% 0.00% 1.69% 1.79% -0.28% 0.34% 0.14% 0.59% 0.50% 0.29% 0.16% 0.14% 1.25% 1.54% -0.01% -0.08% 0.34% 0.35% 0.72% 0.75% -2.30% -3.14% 1.10% 1.48% 0.67% 0.46% 0.66% 1.21% -0.78% -0.93% 2.37% 2.65% 0.75% 0.35% -0.19% 0.22% -0.51% -0.39% -0.58% 0.09% -0.15% -0.26% 0.57% -0.08% 1.11% 1.46% 0.44% -0.10% -2.91% -3.22% 1.67% 1.98% 1.62% 1.45% -0.10% 0.08% -0.08% -0.39% 0.78% 1.25% -0.29% -0.39%
Danareksa Mawar 5.72% -0.59% 5.25% 14.23% -6.51% -1.25% 4.39% 4.72% 4.42% 2.39% 6.96% 4.40%
TRIM Kapital
IHSG
SBI 1 BLN
-1.54% 2.00% -0.12% -0.08% 0.20% 0.71% -0.16% 1.43% -0.08% 0.80% 0.65% -2.19% 1.32% 0.32% 0.92% -0.20% 2.63% 0.43% -0.13% -0.38% -1.17% -0.04% 0.80% 1.38% -0.25% -2.85% 1.73% 1.26% -0.19% -0.10% 1.08% 0.13%
IHSG
0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022%
SBI 1 BLN
9.34% 2.15% 7.24% 15.66% -5.45% -0.26% 3.99% 6.26% 5.56% 3.95% 7.10% 4.99%
6.01% -0.40% 7.12% 11.11% -8.97% -1.07% 3.23% 5.82% 7.05% 3.10% 8.38% 5.04%
0.57% 0.51% 0.59% 0.57% 0.56% 0.61% 0.55% 0.56% 0.53% 0.51% 0.51% 0.40%
Average Return Standard Devias Beta SHARPE JENSEN
3.97% 0.04916 0.99 0.698648983 0.002
3.88% 0.05579 1.02 0.598718127 -0.001
4.14% 0.05028 0.98 0.715473552 0.003
4.63% 0.05195 1.02 0.787805655 0.007
4.07% 0.05640 1.01 0.62558949 0.002
4.15% 0.04583 0.95 0.787687274 0.005
3.77% 0.05420 0.95 0.596669661 0.001
3.68% 0.05039 0.96 0.622814812 -0.001
5.04% 0.05144 1.16 0.876064541 0.006
3.87% 0.05322 1.00 0.62595153 0.000
0.54% 0.00055 0.00 0 0.000
2006
47.66%
46.54%
49.62%
55.57%
48.80%
49.78%
45.26%
44.11%
60.53%
46.43%
6.45%
86
Lampiran 3. Perhitungan tahun 2007 Date 1/2/2007 1/3/2007 1/4/2007 1/5/2007 1/8/2007 1/9/2007 1/10/2007 1/11/2007 1/12/2007 1/15/2007 1/16/2007 1/17/2007 1/18/2007 1/19/2007 1/22/2007 1/23/2007 1/24/2007 1/25/2007 1/26/2007 1/29/2007 1/30/2007 1/31/2007 2/1/2007 2/2/2007 2/5/2007 2/6/2007 2/7/2007 2/8/2007 2/9/2007 2/12/2007 2/13/2007 2/14/2007 2/15/2007 2/16/2007 2/19/2007 2/20/2007 2/21/2007 2/22/2007 2/23/2007 2/26/2007 2/27/2007 2/28/2007 3/1/2007 3/2/2007 3/5/2007 3/6/2007 3/7/2007 3/8/2007 3/9/2007 3/12/2007 3/13/2007 3/14/2007 3/16/2007 3/20/2007 3/21/2007 3/22/2007 3/23/2007 3/26/2007 3/27/2007 3/28/2007 3/29/2007 3/30/2007 4/2/2007 4/3/2007 4/4/2007 4/5/2007 4/9/2007 4/10/2007 4/11/2007
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 1.49% 1.56% 2.04% 1.62% 1.69% 1.60% 1.88% -0.14% -0.21% 0.32% -0.02% 0.41% -0.20% -0.30% -0.37% -0.44% -0.43% -0.42% -0.15% -0.18% -0.34% 0.23% 0.19% 0.05% 0.49% -0.15% 0.05% 0.82% -1.07% -1.12% -1.14% -0.81% -0.86% -1.09% -0.90% -2.14% -1.95% -2.08% -2.11% -1.81% -2.14% -2.35% -4.15% -3.80% -4.36% -4.34% -4.05% -4.19% -4.75% -0.31% -0.43% -0.29% -0.71% -0.48% -0.15% -0.52% -1.51% -1.55% -1.47% -1.70% -1.76% -1.39% -2.92% 3.08% 2.57% 3.19% 3.31% 2.65% 3.23% 3.48% 0.75% 0.93% 1.48% 1.70% 1.01% 1.48% 1.78% 0.24% 0.13% 0.45% 0.35% 0.11% 0.37% 0.00% 0.62% 0.85% 0.62% 0.73% 0.36% 0.86% 0.89% 1.00% 1.10% 0.49% 0.59% 0.80% 0.54% 0.71% 1.33% 1.19% 1.59% 1.78% 1.56% 1.74% 1.23% -0.73% -0.68% -0.57% -0.49% -0.39% -0.33% -0.30% -0.04% 0.13% -0.09% -0.26% -0.26% -0.26% 0.60% -1.60% -1.55% -1.84% -1.70% -1.65% -1.69% -1.62% -0.84% -0.80% -0.76% -0.77% -0.84% -0.89% -0.66% 0.11% 0.22% 0.14% 0.02% -0.10% 0.30% 0.28% 0.11% 0.16% 0.32% 0.08% -0.06% 0.11% 0.21% -0.44% -0.40% -0.41% -0.53% -0.41% -0.66% -0.50% 0.45% 0.85% 0.49% 0.50% 0.19% 0.52% 1.71% 0.57% 0.37% 0.33% 0.36% 0.52% 0.44% 0.23% -0.52% -0.63% -0.44% -0.74% -0.56% -0.86% -0.92% -0.60% -0.66% -0.29% -0.48% -0.60% -0.79% -0.17% -0.01% -0.05% -0.01% 0.24% 0.18% 0.22% -0.08% -1.23% -1.01% -0.75% -0.98% -1.04% -1.03% -1.21% -0.84% -0.77% -0.42% -0.59% -0.65% -0.68% -0.64% -0.40% -0.50% 0.37% -0.21% -0.45% -0.45% -0.36% -0.28% -0.29% 0.24% -0.18% -0.10% -0.16% -0.21% 1.07% 0.81% 1.26% 1.49% 1.40% 1.23% 1.10% 2.44% 2.30% 2.98% 2.57% 2.38% 2.42% 2.66% 0.38% 0.27% 0.68% 0.49% 0.80% 0.37% 0.22% 0.24% 0.12% 0.24% 0.04% 0.17% 0.13% 0.09% 0.01% 0.02% 0.45% 0.30% 0.11% 0.37% 0.18% 0.79% 0.76% 1.23% 0.96% 0.51% 0.77% 0.95% -0.60% -0.43% -0.27% -0.58% -0.61% -0.64% -0.30% -0.89% -0.82% -1.28% -1.22% -1.11% -1.09% -1.12% -0.44% -0.50% -0.47% -0.48% -0.47% -0.37% -0.90% -0.88% -0.83% -1.04% -1.16% -0.86% -0.38% -1.10% -1.04% -0.76% -1.32% -1.31% -0.87% -1.56% -0.98% 0.60% 0.49% 0.76% 0.71% 0.79% 0.63% 0.72% -0.15% -0.24% -0.02% -0.07% -0.21% -0.13% 0.02% -3.24% -3.06% -3.84% -3.69% -3.23% -3.50% -4.27% 1.86% 1.76% 2.25% 2.13% 2.12% 2.10% 2.24% 0.77% 0.75% 1.03% 0.94% 1.33% 0.85% 0.85% 1.42% 1.50% 1.90% 1.85% 1.85% 1.68% 1.91% -0.06% -0.08% -0.30% -0.27% -0.17% -0.15% -0.38% 1.79% 1.71% 1.64% 1.84% 2.05% 1.72% 1.79% 0.07% 0.07% 0.24% 0.16% 0.30% 0.10% 0.27% -1.98% -1.96% -1.88% -1.94% -2.18% -1.97% -2.37% 0.59% 0.41% 1.10% 0.90% 1.24% 0.83% 1.11% -0.34% -0.65% 0.24% 0.06% -0.18% -0.15% -0.08% 0.53% 0.55% 0.49% 0.37% 0.31% 0.43% 0.72% 1.52% 1.57% 1.26% 1.51% 1.58% 1.60% 1.63% -0.14% -0.18% -0.25% -0.43% -0.25% -0.24% -0.03% 0.66% 0.63% 0.59% 0.57% 0.18% 0.46% 0.41% 0.30% 0.23% 0.19% 0.35% -0.05% 0.30% 0.21% -1.17% -1.32% -1.34% -1.29% -1.55% -1.14% -1.12% 1.01% 1.07% 0.96% 1.17% 1.61% 1.27% 1.04% 0.65% 0.61% 1.11% 1.04% 1.23% 0.66% 0.15% 1.17% 1.18% 1.26% 0.90% 1.68% 1.14% 0.93% 2.47% 2.70% 2.54% 2.87% 3.02% 2.75% 2.59% 1.02% 1.19% 1.34% 1.34% 1.39% 1.57% 1.53% -1.65% -1.89% -1.80% -1.55% -1.96% -1.53% -1.43% 0.94% 0.95% 0.98% 1.19% 1.24% 0.88% 1.06% 0.52% 0.49% 0.85% 0.83% 0.56% 0.65% 0.66% 0.11% 0.09% 0.04% -0.05% -0.05% 0.21% 0.26%
8 9 Danareksa TRIM Kapital Mawar 1.61% 1.86% 0.07% 0.24% -0.79% -0.44% 0.03% 0.59% -1.15% -0.96% -2.07% -2.33% -4.46% -4.88% -0.37% -0.70% -2.23% -2.99% 2.77% 3.97% 2.25% 1.82% -0.16% 0.22% 0.46% 1.14% 0.92% 0.81% 1.16% 1.49% -0.38% -0.39% -0.09% 0.06% -1.53% -2.00% -0.83% -0.94% 0.24% 0.57% -0.04% -0.05% -0.13% -0.49% 0.67% 1.63% 0.00% 0.21% -1.00% -1.07% -0.66% -0.54% 0.09% -0.01% -0.95% -0.76% -0.82% -0.58% 0.03% -0.72% -0.40% -0.57% 0.85% 1.07% 2.67% 2.76% 0.46% -0.32% 0.16% 0.14% 0.18% -0.02% 0.94% 0.56% -0.47% -0.65% -1.20% -0.93% -0.44% -0.61% -0.69% -1.68% -1.03% -1.33% 0.75% 0.66% -0.17% -0.26% -3.21% -4.64% 2.00% 2.92% 0.97% 1.10% 1.45% 2.05% -0.36% -0.83% 1.62% 2.03% 0.22% 0.41% -2.12% -2.53% 1.33% 1.43% 0.19% 0.79% 0.49% 0.59% 1.71% 1.98% -0.32% -0.66% 0.86% 0.70% 0.24% 0.12% -1.42% -1.78% 1.11% 0.92% 0.82% 0.97% 1.34% 1.55% 2.79% 3.05% 1.84% 2.31% -1.75% -2.29% 0.97% 1.12% 0.96% 1.31% 0.29% 0.34%
IHSG 1.72% -0.10% -0.58% 0.46% -1.05% -1.79% -3.96% -0.38% -1.51% 3.12% 1.38% 0.24% 1.09% 1.00% 1.22% -0.49% -0.16% -1.76% -0.83% 0.33% 0.03% -0.47% 0.80% 0.51% -0.67% -0.41% 0.21% -0.77% -0.63% -0.34% -0.41% 1.37% 2.25% 0.22% 0.27% 0.40% 0.56% -0.45% -0.93% -0.42% -1.12% -1.31% 1.06% 0.03% -3.48% 1.98% 0.62% 1.63% -0.39% 1.70% 0.16% -1.95% 0.89% -0.14% 0.21% 1.68% -0.17% 0.43% 0.33% -1.06% 0.96% 0.73% 1.01% 2.44% 1.45% -1.38% 0.96% 0.61% 0.29%
SBI 1 BLN 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020%
87
Lanjutan Lampiran 3. Date 4/12/2007 4/13/2007 4/16/2007 4/17/2007 4/18/2007 4/19/2007 4/20/2007 4/23/2007 4/24/2007 4/25/2007 4/26/2007 4/27/2007 4/30/2007 5/1/2007 5/2/2007 5/3/2007 5/4/2007 5/7/2007 5/8/2007 5/9/2007 5/10/2007 5/11/2007 5/14/2007 5/15/2007 5/16/2007 5/21/2007 5/22/2007 5/23/2007 5/24/2007 5/25/2007 5/28/2007 5/29/2007 5/30/2007 5/31/2007 6/4/2007 6/5/2007 6/6/2007 6/7/2007 6/8/2007 6/11/2007 6/12/2007 6/13/2007 6/14/2007 6/15/2007 6/18/2007 6/19/2007 6/20/2007 6/21/2007 6/22/2007 6/25/2007 6/26/2007 6/27/2007 6/28/2007 6/29/2007 7/2/2007 7/3/2007 7/4/2007 7/5/2007 7/6/2007 7/9/2007 7/10/2007 7/11/2007 7/12/2007 7/13/2007 7/16/2007 7/17/2007 7/18/2007 7/19/2007 7/20/2007
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 0.12% 0.04% 0.36% 0.27% 0.07% 0.10% -0.10% 0.63% 0.62% 0.50% 0.54% 0.30% 0.50% 0.24% 1.17% 1.23% 1.15% 1.32% 1.56% 1.34% 1.33% 0.03% -0.05% 0.52% 0.24% 0.15% 0.37% 0.47% -0.51% -0.54% -0.12% -0.50% -0.75% -0.64% 0.28% -1.99% -2.13% -2.40% -2.35% -2.19% -2.29% -2.25% 2.63% 2.75% 2.40% 2.56% 2.64% 2.45% 2.18% 0.90% 0.86% 1.02% 1.31% 1.11% 1.12% 0.91% -0.69% -0.84% -0.54% -0.34% -0.56% -0.52% -0.75% 0.84% 1.05% 1.76% 1.51% 0.49% 0.54% 0.69% 1.12% 1.10% 0.98% 0.88% 1.28% 1.39% 0.78% 0.03% -0.06% -0.22% -0.16% -0.18% -0.19% 0.21% -1.53% -1.54% -0.71% -1.59% -1.43% -1.40% -1.75% 0.11% 0.44% 0.17% 0.05% 0.01% 0.24% 0.05% 0.43% 0.66% 0.23% 0.48% 0.28% 0.51% 0.21% 0.70% 0.80% 0.77% 0.50% 0.76% 0.60% 0.63% 0.61% 0.78% 0.65% 0.96% 0.51% 0.52% 0.91% 0.24% 0.29% 0.89% 0.83% 0.61% 0.51% 0.90% -0.73% -0.68% -0.74% -0.47% -0.86% -0.78% -0.46% 0.80% 0.70% 0.62% 0.72% 0.83% 0.71% 0.22% 0.45% 0.58% 0.28% 0.59% 0.56% 0.44% 0.39% -1.39% -1.26% -1.54% -1.24% -1.33% -1.31% -1.30% 1.45% 1.62% 1.91% 1.76% 1.32% 1.25% 1.15% 0.05% 0.22% -0.05% -0.09% -0.40% -0.16% -0.02% 1.64% 1.94% 1.48% 1.43% 1.33% 1.35% 1.23% 0.73% 0.81% 1.13% 0.92% 0.91% 0.80% 0.03% 0.47% 0.22% 0.89% 0.33% 0.83% 0.51% 0.37% 0.97% 0.99% 1.33% 1.18% 0.75% 0.84% 0.73% -1.42% -1.69% -1.24% -1.92% -2.35% -1.76% -1.40% -1.29% -1.53% -0.77% -0.76% -1.48% -1.14% -0.50% 1.29% 1.24% 0.91% 0.92% 0.74% 0.92% 0.66% -0.71% -0.35% 0.42% 0.03% -0.36% -0.67% -0.54% -0.38% -0.56% -0.20% -0.29% -0.19% -0.16% -0.41% 1.46% 1.47% 1.48% 1.56% 2.08% 1.82% 1.64% 1.82% 1.68% 1.97% 1.78% 2.19% 1.45% 1.06% -0.76% -0.85% -0.98% -0.94% -0.98% -0.99% -1.10% 0.34% 0.41% 0.48% 0.28% 0.44% 0.79% 0.83% -0.53% -0.45% -0.93% -0.78% -0.71% -0.68% -0.72% -1.98% -2.17% -1.62% -1.94% -1.91% -1.71% -1.64% 1.78% 2.15% 1.36% 1.63% 1.59% 1.91% 1.02% 1.24% 1.32% 0.77% 1.02% 0.65% 0.66% 0.86% -0.94% -1.05% -1.09% -1.10% -0.95% -1.12% -0.70% 1.26% 1.35% 0.99% 1.07% 1.12% 0.93% 0.75% 0.41% 0.46% 0.60% 0.63% 0.46% 0.46% 0.40% 0.57% 0.56% 0.96% 0.85% 0.29% 0.69% 0.49% 0.91% 0.77% 1.03% 0.94% 1.19% 1.10% 0.97% 1.00% 0.87% 1.07% 0.87% 1.29% 0.78% 0.73% -0.75% -0.81% -0.63% -0.72% -0.93% -0.89% -0.62% 0.21% 0.28% 0.29% -0.02% 0.05% 0.01% 0.11% 0.16% 0.19% 0.13% -0.03% 0.24% -0.07% 0.29% -0.13% -0.02% 0.05% -0.04% -0.25% -0.13% 0.13% -1.01% -1.07% -1.02% -1.21% -1.17% -1.26% -1.26% -0.46% -0.45% -0.34% -0.41% -0.45% -0.61% -0.56% 1.31% 1.24% 1.48% 1.90% 1.82% 1.56% 1.00% 1.64% 1.60% 1.67% 1.73% 1.78% 1.75% 1.56% 1.10% 1.34% 0.75% 0.89% 0.70% 0.79% 0.57% 0.24% 0.36% 0.04% 0.19% -0.02% -0.03% -0.21% 1.09% 1.14% 1.24% 1.20% 1.51% 1.29% 1.20% 0.47% 0.33% 0.94% 1.15% 0.81% 0.63% 0.58% 2.31% 2.22% 2.18% 2.81% 2.46% 2.32% 1.73% 0.38% 0.40% -0.13% 0.03% 0.27% 0.22% 0.66% -0.78% -0.71% -0.78% -0.90% -0.88% -0.80% -0.29% 0.47% 0.47% 0.60% 0.98% 0.72% 0.76% 0.37% 0.72% 0.74% 0.81% 0.59% 0.49% 0.73% 0.80% -0.71% -0.83% -0.91% -0.86% -0.93% -0.80% -0.95% 0.65% 0.64% 0.71% 0.98% 0.95% 0.80% 1.07% -0.04% 0.07% 0.15% 0.07% -0.01% -0.15% -0.17% 1.89% 2.06% 2.00% 2.40% 2.17% 1.98% 2.14% 1.84% 1.98% 1.76% 1.83% 1.69% 1.85% 1.29%
8 9 Danareksa TRIM Kapital Mawar 0.07% -0.01% 0.33% 0.22% 1.19% 1.39% 0.02% 0.32% -0.68% -0.51% -2.48% -2.70% 2.05% 2.42% 0.85% 1.26% -0.63% -0.49% 0.48% 0.26% 1.59% 2.45% -0.17% -0.43% -1.39% -1.86% 0.08% 1.01% 0.47% 0.22% 0.32% 0.62% 0.44% 1.15% -0.02% 0.38% 0.00% -0.78% -0.17% 0.65% 0.51% 0.28% -1.48% -1.25% 0.97% 2.24% -0.18% -0.04% 1.44% 1.72% 0.88% 1.26% 0.60% 0.17% 0.83% 0.75% -1.75% -2.63% -1.29% -0.93% 1.15% 1.76% -0.79% -0.45% -0.13% -0.83% 1.36% 1.86% 1.46% 2.28% -1.01% -1.24% 1.22% 2.35% -0.51% -0.81% -1.60% -1.89% 2.19% 1.49% 1.07% 0.58% -1.14% -1.77% 1.21% 0.88% 0.53% 0.73% 0.30% 1.18% 0.82% 1.64% 0.96% 1.23% -0.81% -0.97% 0.10% 0.03% 0.12% 0.21% -0.19% -0.35% -0.98% -1.43% -0.52% -0.57% 1.37% 1.68% 1.59% 1.79% 0.97% 0.95% 0.04% -0.07% 1.26% 1.29% 0.49% 0.97% 2.20% 2.19% 0.04% 0.10% -0.79% -0.64% 0.35% 0.43% 0.40% 0.79% -0.85% -1.15% 0.68% 1.13% -0.02% 0.15% 1.86% 1.91% 1.46% 2.15%
IHSG -0.03% 0.56% 1.17% 0.08% -0.29% -2.11% 2.63% 0.91% -0.26% 0.26% 1.48% 0.18% -1.02% 0.10% 0.37% 0.85% 0.38% 0.18% -0.70% 0.75% 0.44% -1.21% 1.08% -0.31% 1.27% 0.36% 0.36% 1.23% -1.22% -0.87% 0.79% -0.87% -0.16% 1.41% 1.32% -0.88% 0.45% -0.41% -1.88% 1.44% 1.18% -0.95% 0.95% 0.58% 0.28% 0.74% 0.88% -0.40% 0.00% -0.01% 0.06% -1.31% -0.59% 1.25% 1.33% 0.98% 0.32% 1.13% 0.28% 1.99% 0.49% -0.39% 0.51% 0.73% -0.67% 0.66% -0.29% 1.70% 1.40%
SBI 1 BLN 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018%
88
Lanjutan Lampiran 3. Date 7/23/2007 7/24/2007 7/25/2007 7/26/2007 7/27/2007 7/30/2007 7/31/2007 8/2/2007 8/3/2007 8/6/2007 8/7/2007 8/8/2007 8/9/2007 8/10/2007 8/13/2007 8/14/2007 8/15/2007 8/16/2007 8/20/2007 8/23/2007 8/24/2007 8/27/2007 8/28/2007 8/29/2007 8/30/2007 9/3/2007 9/4/2007 9/5/2007 9/6/2007 9/7/2007 9/10/2007 9/11/2007 9/12/2007 9/13/2007 9/14/2007 9/18/2007 9/19/2007 9/20/2007 9/21/2007 9/24/2007 9/25/2007 9/26/2007 9/27/2007 9/28/2007 10/1/2007 10/2/2007 10/3/2007 10/4/2007 10/5/2007 10/8/2007 10/9/2007 10/10/2007 10/11/2007 10/18/2007 10/19/2007 10/22/2007 10/23/2007 10/24/2007 10/25/2007 10/26/2007 10/29/2007 10/30/2007 10/31/2007 11/1/2007 11/2/2007 11/5/2007 11/6/2007 11/7/2007 11/8/2007
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 0.82% 0.99% 1.41% 1.46% 1.09% 1.12% 1.24% 0.69% 0.94% 0.65% 0.57% 0.76% 0.85% 0.73% -0.45% -0.30% -0.10% -0.37% -0.45% -0.32% -0.28% -1.11% -1.20% -1.38% -1.10% -0.77% -0.99% -1.33% -2.59% -2.80% -2.21% -2.68% -2.69% -2.49% -2.48% -0.18% -0.22% 0.02% -0.16% -0.27% -0.03% 0.25% 2.00% 2.26% 1.49% 1.91% 1.95% 2.02% 1.92% -2.89% -3.11% -2.94% -3.84% -3.34% -3.36% -3.46% 0.14% 0.20% -0.20% -0.25% 0.10% 0.06% -0.19% -3.02% -3.62% -2.61% -3.10% -3.40% -3.50% -3.69% -0.61% -0.58% -0.86% -1.10% -0.94% -0.94% -1.07% 3.71% 3.86% 3.91% 3.74% 3.85% 3.94% 4.41% -0.86% -1.01% -0.71% -0.73% -0.82% -0.79% -0.92% -1.54% -1.75% -1.47% -1.54% -1.61% -1.63% -1.82% 0.41% 0.23% 0.36% 0.45% 0.69% 0.61% 0.12% -1.92% -2.20% -2.04% -2.06% -2.01% -1.97% -2.31% -5.77% -6.49% -5.89% -6.48% -6.66% -6.40% -7.04% -5.19% -5.49% -5.82% -5.63% -6.59% -5.87% -7.47% 6.47% 6.76% 6.98% 6.79% 7.79% 6.97% 7.51% 3.76% 4.26% 3.69% 4.13% 4.66% 3.80% 4.88% 0.62% 0.60% 0.18% 0.13% -0.05% 0.19% 0.55% 1.68% 1.92% 1.65% 1.64% 1.33% 1.65% 1.88% -0.61% -0.42% -0.60% -0.53% -0.89% -0.82% -0.62% -0.95% -0.97% -0.99% -1.12% -0.92% -0.96% -0.48% 0.68% 0.82% 0.76% 0.85% 0.76% 0.89% 0.55% 2.83% 3.28% 2.92% 2.74% 3.33% 2.87% 2.76% 0.11% 0.18% -0.14% 0.01% 0.05% 0.10% -0.47% 0.34% 0.36% 0.63% 0.44% 0.68% 0.47% 0.48% 0.18% 0.29% 0.90% 0.69% 0.41% 0.27% 0.55% 0.72% 0.76% 0.68% 0.70% 0.64% 0.93% 0.39% -1.34% -1.62% -1.24% -1.34% -1.53% -1.38% -1.16% -0.01% 0.01% 0.11% -0.10% 0.08% 0.00% 0.00% -0.29% -0.29% -0.38% -0.31% -0.04% -0.32% -0.29% 0.51% 0.65% 0.69% 0.45% 0.74% 0.56% 0.43% 0.28% 0.22% 0.33% 0.36% 0.56% 0.21% 0.49% 0.86% 0.97% 1.06% 0.98% 0.90% 0.99% 1.88% 3.02% 3.53% 3.41% 3.53% 3.47% 3.25% 3.54% -0.33% -0.41% -0.43% -0.45% -0.48% -0.35% -0.55% 1.25% 1.36% 1.77% 1.55% 1.86% 1.45% 1.63% 1.05% 1.22% 0.83% 0.88% 0.91% 0.81% 1.72% -0.98% -1.14% -0.96% -0.92% -1.26% -0.88% -1.50% 1.11% 1.20% 1.04% 1.02% 0.94% 1.09% 1.16% 0.69% 0.72% 1.10% 0.65% 0.95% 0.84% 0.85% -0.96% -1.17% -0.70% -0.79% -0.81% -0.78% -0.63% 1.94% 1.90% 1.11% 1.28% 1.59% 1.73% 1.24% 2.55% 2.70% 2.25% 2.59% 2.59% 2.58% 1.99% -0.37% -0.50% -0.28% -0.41% -0.35% -0.31% -0.55% 1.03% 0.98% 1.08% 1.07% 1.08% 1.02% 1.22% 1.08% 0.91% 0.90% 0.78% 1.21% 0.71% 0.73% 1.23% 1.34% 1.28% 1.18% 1.47% 1.26% 0.61% 1.09% 0.97% 1.42% 1.27% 1.48% 1.28% 1.21% 1.85% 2.05% 2.07% 1.89% 2.25% 1.87% 1.48% 1.70% 1.84% 2.16% 2.18% 1.95% 2.15% 1.58% -1.03% -1.71% 0.13% -0.38% 0.37% -0.11% 0.98% -2.11% -2.18% -2.17% -1.93% -2.21% -2.14% -2.08% -4.19% -4.18% -4.63% -4.24% -4.72% -4.44% -4.22% 4.23% 4.04% 4.47% 4.26% 4.45% 4.09% 4.29% -1.05% -1.08% -1.38% -1.21% -1.16% -1.05% -1.28% 3.23% 2.78% 3.26% 3.17% 3.62% 2.91% 2.97% 1.11% 1.08% 0.93% 1.09% 1.16% 1.07% 0.58% 1.86% 2.67% 1.75% 1.83% 2.08% 2.02% 1.45% 0.18% 0.25% -0.33% -0.30% -0.07% 0.09% 0.05% -0.63% -0.28% 0.01% -0.42% -0.38% -0.40% -0.34% 2.46% 2.23% 2.15% 2.46% 2.24% 2.25% 1.59% -0.07% -0.16% -0.04% -0.05% 0.23% 0.27% -0.23% -2.22% -2.18% -2.34% -2.25% -2.19% -2.13% -2.16% 0.78% 0.93% 1.38% 1.04% 1.12% 1.47% 1.27% 1.23% 0.94% 1.33% 1.20% 1.86% 1.05% 0.40% -1.51% -1.63% -1.18% -1.37% -0.75% -1.53% -1.14%
8 9 Danareksa TRIM Kapital Mawar 0.68% 1.59% 0.59% 0.87% -0.80% -0.47% -1.10% -1.71% -2.71% -3.01% 0.03% -0.14% 2.21% 2.11% -3.22% -4.80% -0.10% -0.13% -3.09% -3.72% -0.74% -1.13% 3.54% 4.67% -0.90% -0.78% -1.40% -1.91% 0.38% 0.26% -1.86% -2.83% -5.85% -7.11% -4.84% -6.97% 6.53% 7.50% 3.34% 4.28% 0.50% 0.13% 1.65% 2.01% -0.54% -0.57% -1.01% -0.60% 0.71% 0.40% 2.68% 3.35% 0.02% -0.41% 0.39% 0.65% 0.25% 1.10% 0.94% 0.70% -1.34% -1.44% 0.02% 0.39% -0.18% -0.43% 0.52% 0.55% 0.28% 0.39% 0.93% 1.35% 2.92% 3.45% -0.14% -0.69% 1.34% 1.99% 0.73% 1.24% -0.85% -1.28% 0.88% 1.24% 0.95% 1.00% -0.88% -0.82% 1.50% 1.08% 2.69% 2.05% -0.44% -0.25% 1.08% 1.42% 1.03% 0.98% 1.13% 1.42% 1.08% 1.56% 2.09% 2.29% 2.11% 2.36% 0.40% 0.31% -1.82% -2.71% -4.67% -5.62% 4.69% 5.12% -0.79% -1.54% 3.25% 3.52% 1.23% 0.46% 2.02% 2.27% 0.08% 0.00% -0.10% -0.10% 2.77% 2.47% 0.51% 0.30% -2.18% -2.76% 1.89% 2.08% 1.63% 1.32% -0.55% -0.43%
IHSG 0.58% 0.88% -0.27% -1.22% -2.83% 0.14% 2.05% -3.31% -0.05% -3.55% -0.69% 4.07% -0.94% -1.52% 0.18% -1.94% -6.44% -5.94% 6.97% 3.73% 1.20% 1.50% -0.72% -1.14% 0.74% 2.92% 0.07% -0.02% 0.28% 0.86% -1.35% 0.08% -0.07% 0.58% 0.13% 0.64% 3.28% -0.38% 1.34% 0.78% -0.99% 1.32% 0.75% -0.82% 1.71% 2.73% -0.54% 0.88% 1.11% 0.92% 0.91% 1.76% 1.80% -0.81% -2.02% -4.31% 4.10% -1.13% 2.84% 1.07% 1.64% -0.17% -0.73% 2.31% 0.22% -2.14% 1.11% 1.20% -1.32%
SBI 1 BLN 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018%
89
Lanjutan Lampiran 3. Date 11/9/2007 11/12/2007 11/13/2007 11/14/2007 11/15/2007 11/16/2007 11/19/2007 11/20/2007 11/21/2007 11/22/2007 11/23/2007 11/26/2007 11/27/2007 11/28/2007 11/29/2007 11/30/2007 12/4/2007 12/5/2007 12/6/2007 12/7/2007 12/10/2007 12/11/2007 12/12/2007 12/13/2007 12/14/2007 12/17/2007 12/18/2007 12/19/2007 12/26/2007 12/27/2007 12/28/2007
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 0.94% 0.99% 1.20% 0.90% 1.59% 1.02% 1.35% -1.32% -1.56% -1.17% -1.57% -1.21% -1.37% -1.18% -0.47% 0.13% -1.64% -1.60% -1.97% -1.07% -0.30% 1.66% 1.45% 2.10% 1.94% 1.65% 1.59% 1.79% 0.54% 0.46% 1.50% 1.12% 0.83% 0.69% -0.01% -1.51% -1.62% -1.67% -1.35% -1.37% -1.61% -1.23% -0.95% -0.90% -1.01% -0.90% -1.20% -1.12% -1.04% -0.88% -1.17% -0.34% -0.42% -0.62% -0.69% -0.76% -2.29% -2.26% -2.23% -2.03% -2.44% -2.15% -2.32% 0.40% 1.02% -0.18% -0.23% 0.15% 0.29% -0.11% 0.54% 0.63% 0.66% 0.64% 0.91% 0.62% 0.41% 2.57% 1.99% 3.21% 3.01% 3.52% 2.91% 2.87% -0.73% -0.73% -0.38% -0.64% -0.65% -0.29% -0.55% 1.83% 1.49% 2.05% 2.14% 1.88% 1.83% 1.06% 1.07% 1.27% 0.46% 0.70% 0.56% 0.80% 0.90% -0.16% -0.40% 0.22% 0.09% 0.15% 0.21% -0.35% 2.93% 2.78% 3.15% 3.13% 2.88% 2.89% 3.83% 0.59% 0.80% 0.04% -0.02% 0.00% 0.18% 0.76% 0.75% 0.75% 0.57% 0.64% 0.62% 0.69% 1.39% -0.73% -0.63% -0.96% -0.99% -0.88% -0.55% -1.08% 0.37% 0.14% 0.31% 0.31% 0.27% 0.14% 0.66% 0.78% 0.74% 0.86% 0.72% 1.06% 0.81% 1.05% -0.66% -0.65% -0.64% -0.53% -0.69% -0.66% -0.76% -1.53% -1.58% -1.44% -1.62% -1.56% -1.31% -1.60% -0.62% -0.63% -0.55% -0.51% -0.63% -0.62% -0.59% -2.56% -2.56% -3.14% -2.92% -3.46% -2.80% -3.20% -0.91% -0.78% -0.85% -0.98% -1.23% -1.03% -1.01% 0.54% 0.58% 0.35% 0.42% 0.64% 0.44% 0.65% 2.35% 2.04% 2.77% 2.53% 2.86% 2.48% 2.70% 0.75% 0.66% 0.91% 0.89% 1.02% 0.92% 0.46% 0.01% 0.02% 0.00% 0.01% 0.05% 0.17% 0.17%
Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham -4.37% -3.90% -2.73% -3.18% -4.40% -2.90% -3.31% -1.77% -1.74% 1.98% -0.99% -1.05% -1.55% -0.84% 4.71% 3.87% 6.12% 5.92% 6.78% 5.36% 4.82% 7.32% 7.20% 9.90% 9.25% 8.36% 8.45% 7.86% 5.47% 6.70% 8.62% 7.49% 4.56% 5.05% 4.48% 4.46% 4.41% 4.57% 3.78% 3.98% 2.86% 2.02% 10.45% 11.49% 10.92% 12.71% 11.34% 11.49% 10.42% -5.87% -7.00% -6.59% -8.67% -8.07% -8.14% -9.18% 9.05% 10.11% 11.63% 10.09% 11.41% 10.14% 11.26% 13.69% 13.57% 14.05% 13.70% 16.41% 14.34% 11.92% 1.93% 0.90% 4.08% 2.83% 4.29% 3.04% 0.25% 2.07% 1.67% 1.37% 1.08% 0.94% 1.75% 3.43%
Date January-07 February-07 March-07 April-07 May-07 June-07 July-07 August-07 September-07 October-07 November-07 December-07 Average Return Standard Deviasi Beta SHARPE JENSEN 2007
8 9 Danareksa TRIM Kapital Mawar 1.79% 2.48% 0.00% -0.83% -2.05% -2.10% 1.18% 2.42% 0.77% 0.90% -1.53% -1.64% -0.87% -1.30% -0.57% 0.11% -2.03% -2.90% -0.13% -0.25% 1.02% 0.85% 3.21% 3.86% -0.61% -0.46% 1.81% 1.85% 0.10% 0.21% 0.04% -0.01% 2.82% 2.99% -0.01% 0.26% 0.74% 0.79% -0.88% -0.93% -0.12% -0.11% 0.87% 1.71% -0.48% -0.39% -1.23% -1.81% -0.61% -0.71% -2.97% -3.44% -0.99% -0.80% 0.26% 0.38% 2.71% 2.75% 1.15% 0.71% -0.19% 0.30%
Danareksa Mawar -4.70% -1.60% 6.13% 7.65% 3.26% 4.58% 8.58% -6.90% 9.47% 16.54% 6.21% 1.07%
TRIM Kapital
IHSG
SBI 1 BLN
1.10% -1.32% -0.66% 1.42% 0.52% -1.37% -0.82% -0.83% -2.33% 0.23% 0.58% 2.46% -0.76% 1.67% 1.05% -0.43% 2.40% 0.55% 0.99% -0.59% 0.41% 0.74% -0.54% -1.43% -0.57% -2.74% -0.70% 0.44% 2.13% 0.93% 0.22%
IHSG
0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018%
SBI 1 BLN
-3.42% -3.43% 5.97% 9.71% 7.16% 5.27% 11.23% -11.31% 12.32% 14.60% 6.17% 1.69%
-2.48% -0.86% 5.21% 8.94% 4.24% 2.69% 9.49% -7.84% 9.40% 11.75% 1.88% 2.24%
0.47% 0.41% 0.40% 0.40% 0.41% 0.38% 0.41% 0.33% 0.35% 0.35% 0.40% 0.27%
3.93% 0.05906 0.97 0.600491369 0.003
3.94% 0.06282 1.00 0.566140019 0.002
5.33% 0.06146 1.00 0.804461131 0.016
4.50% 0.06704 1.03 0.614397786 0.007
4.55% 0.06990 1.07 0.595668702 0.006
4.16% 0.06439 1.01 0.58638685 0.004
3.60% 0.06321 1.06 0.508471196 -0.003
4.19% 0.06508 0.98 0.585183205 0.005
4.66% 0.07576 1.18 0.565331656 0.003
3.72% 0.05715 1.00 0.584298048 0.000
0.38% 0.00051 0.00 0 0.000
47.14%
47.26%
63.91%
54.01%
54.55%
49.89%
43.15%
50.28%
55.98%
44.65%
4.58%
90
Lampiran 4. Perhitungan tahun 2008 Date 1/2/2008 1/3/2008 1/4/2008 1/7/2008 1/8/2008 1/9/2008 1/14/2008 1/15/2008 1/16/2008 1/17/2008 1/18/2008 1/21/2008 1/22/2008 1/23/2008 1/24/2008 1/25/2008 1/28/2008 1/29/2008 1/30/2008 1/31/2008 2/1/2008 2/4/2008 2/5/2008 2/6/2008 2/11/2008 2/12/2008 2/13/2008 2/14/2008 2/15/2008 2/18/2008 2/19/2008 2/20/2008 2/21/2008 2/22/2008 2/25/2008 2/26/2008 2/27/2008 2/28/2008 2/29/2008 3/3/2008 3/4/2008 3/5/2008 3/6/2008 3/10/2008 3/11/2008 3/12/2008 3/13/2008 3/14/2008 3/17/2008 3/19/2008 3/24/2008 3/25/2008 3/26/2008 3/27/2008 3/28/2008 3/31/2008 4/1/2008 4/2/2008 4/3/2008 4/4/2008 4/7/2008 4/8/2008 4/9/2008 4/10/2008 4/11/2008 4/14/2008 4/15/2008 4/16/2008 4/17/2008
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham -0.63% -0.80% -0.62% -0.46% -0.62% -0.75% -0.97% -0.80% -0.98% -0.58% -0.73% -0.29% -0.67% -1.01% 2.00% 1.92% 2.00% 2.01% 2.15% 2.07% 1.56% 0.25% 0.39% -0.03% -0.12% 0.27% 0.49% 0.17% 0.47% 0.48% 0.32% 0.26% 0.54% 0.19% 0.58% 1.76% 1.44% 1.78% 2.01% 2.11% 1.85% 1.80% -0.73% -0.96% -0.17% -0.49% -0.19% -0.48% -0.73% -3.05% -3.18% -3.09% -2.98% -3.10% -2.95% -3.41% -5.14% -5.09% -5.58% -5.40% -5.86% -5.18% -5.02% 2.08% 2.26% 2.04% 1.87% 2.11% 2.07% 2.30% -1.35% -1.18% -1.59% -1.34% -1.61% -1.44% -1.85% -4.90% -4.88% -5.09% -5.01% -5.07% -4.80% -5.40% -7.58% -7.58% -7.77% -7.78% -8.08% -7.51% -8.42% 8.20% 7.66% 9.03% 8.53% 8.73% 8.05% 9.10% 1.86% 2.15% 1.33% 1.47% 1.65% 1.53% 1.67% 4.72% 4.30% 5.15% 4.89% 5.14% 4.49% 4.73% -0.95% -1.02% -0.79% -0.95% -1.17% -0.78% -1.72% 1.10% 0.99% 1.71% 1.34% 1.38% 1.26% 1.24% -0.32% -0.22% 0.00% 0.10% -0.18% -0.24% -0.08% 0.82% 0.92% 0.39% 0.78% 0.61% 0.49% 0.83% 0.59% 0.37% 0.82% 0.94% 0.74% 0.73% 0.75% 2.21% 2.10% 1.76% 1.95% 2.01% 1.81% 2.13% 0.11% 0.48% 0.09% 0.22% -0.27% -0.13% 0.07% -2.34% 0.00% -2.73% -2.72% -2.28% -2.35% -2.62% -2.23% -4.86% -2.40% -2.26% -2.69% -2.07% -2.11% -0.20% -0.30% 0.18% 0.07% 0.33% 0.00% 0.05% 0.87% 1.00% 0.65% 0.65% 0.67% 0.51% 0.89% 2.62% 2.77% 2.70% 2.61% 2.86% 2.40% 2.46% 0.77% 0.77% 0.84% 0.88% 0.55% 0.90% 0.68% -0.20% -0.26% -0.22% -0.20% -0.29% 0.06% -0.15% 1.04% 1.11% 0.86% 0.90% 1.03% 1.09% 1.17% -0.72% -0.94% -1.16% -1.02% -0.72% -0.92% -0.64% 1.84% 1.68% 2.03% 1.82% 1.72% 1.71% 1.70% 0.31% 0.18% 0.43% 0.42% 0.51% 0.43% 0.33% 0.38% 0.17% 0.67% 0.59% 0.65% 0.61% 0.50% -0.51% -0.53% -0.63% -0.65% -0.41% -0.66% -0.28% -0.04% -0.04% -0.15% -0.18% -0.03% -0.18% -0.11% 0.56% 0.75% 0.39% 0.42% 0.38% 0.32% 0.38% -1.61% -1.73% -1.40% -1.19% -1.42% -1.28% -1.40% -2.65% -2.39% -2.71% -2.60% -2.81% -2.42% -2.78% -1.00% -0.83% -1.12% -0.96% -1.16% -0.99% -1.02% -0.07% 0.10% -0.16% 0.00% 0.03% 0.22% 0.13% 0.64% 0.52% 0.69% 0.64% 0.52% 0.57% 0.41% -5.19% -4.74% -5.43% -5.18% -5.82% -5.24% -5.56% -0.06% 0.04% 0.14% -0.02% 0.09% -0.25% 0.13% 1.35% 1.48% 0.95% 1.13% 1.16% -0.31% 1.16% -4.61% -4.05% -5.05% -4.71% -5.11% -3.22% -5.10% -2.20% -1.82% -2.46% -2.33% -2.52% -2.09% -2.48% -2.82% -2.41% -3.38% -2.93% -3.65% -3.27% -3.99% 0.40% 0.30% -0.05% -0.05% 0.36% 0.26% 0.27% 0.73% 0.82% 0.63% 0.50% 0.83% 0.68% 0.76% 3.52% 3.19% 3.83% 3.66% 4.07% 3.48% 3.96% 0.72% 0.71% 0.66% 0.57% 1.02% 0.43% 0.49% 0.49% 0.65% 1.00% 0.85% 0.74% 0.44% 0.82% 1.05% 0.86% 0.73% 0.71% 1.02% 0.96% 1.12% -1.20% -1.14% -1.31% -1.34% -1.70% -1.12% -1.50% -2.46% -2.26% -2.77% -2.76% -3.15% -2.59% -2.98% -2.24% -2.06% -2.81% -2.65% -2.84% -2.16% -2.67% -4.45% -4.29% -5.01% -4.58% -5.52% -4.28% -4.62% 1.99% 1.65% 1.68% 1.83% 1.93% 1.96% 1.93% 0.12% -0.06% 0.64% 0.26% 0.42% 0.10% 0.77% -1.63% -2.00% -1.75% -1.63% -1.59% -1.48% -1.60% -3.06% -2.78% -3.41% -3.17% -3.43% -3.12% -3.54% 2.73% 2.61% 3.15% 3.11% 3.15% 2.74% 3.46% 3.23% 3.45% 3.75% 3.66% 3.95% 2.98% 3.52% -1.52% -1.73% -1.68% -1.42% -1.66% -1.24% -0.97% 0.98% 1.12% 1.04% 0.86% 1.18% 0.85% 0.95% 2.22% 1.83% 2.54% 2.14% 2.75% 1.98% 2.16% 0.05% 0.14% -0.21% -0.07% -0.10% 0.46% 0.07%
8 Danareksa Mawar -0.46% -0.10% 1.82% 0.47% 0.25% 2.10% -0.02% -2.56% -5.43% 1.98% -1.85% -5.11% -7.57% 7.71% 0.98% 4.59% -1.41% 1.71% 0.09% 0.59% 1.19% 2.19% -0.40% -2.82% -2.06% 0.34% 0.49% 2.92% 0.72% -0.25% 1.07% -0.69% 1.84% 0.46% 0.70% -0.79% -0.06% 0.45% -0.75% -2.62% -1.03% 0.49% 0.40% -5.65% 0.09% 1.02% -4.67% -2.51% -3.32% -0.23% 0.39% 3.95% 0.59% 0.49% 0.84% -1.44% -2.89% -2.83% -4.69% 2.10% 0.47% -1.43% -3.02% 3.06% 3.74% -0.86% 1.09% 2.55% -0.01%
9 TRIM Kapital -1.33% -1.14% 2.20% 0.48% 0.02% 1.56% -0.44% -2.99% -6.44% 2.53% -2.45% -6.22% -10.06% 11.44% 1.24% 5.69% -1.13% 2.01% -0.27% 0.49% 0.79% 2.20% -0.03% -2.88% -2.84% 0.15% 0.37% 2.85% 1.14% -0.35% 1.27% -0.90% 2.20% 0.70% 0.89% -0.41% -0.72% 0.13% -1.48% -2.98% -0.84% -0.38% 0.85% -6.55% -0.14% 1.04% -5.97% -3.01% -4.85% -0.89% 0.87% 4.94% 1.02% 1.36% 0.74% -1.56% -3.47% -3.52% -5.81% 2.13% 1.93% -1.45% -3.28% 3.26% 3.46% -1.48% 1.15% 2.59% -0.12%
IHSG -0.52% -0.60% 1.85% 0.41% 0.33% 1.60% -0.70% -2.86% -5.04% 2.20% -1.44% -4.80% -7.70% 7.92% 1.63% 4.12% -1.47% 1.00% 0.10% 0.65% 0.74% 2.07% 0.10% -2.41% -1.88% 0.10% 0.72% 2.48% 0.47% -0.13% 1.01% -0.83% 1.67% 0.25% 0.39% -0.47% 0.05% 0.59% -1.25% -2.56% -0.66% 0.19% 0.64% -4.84% -0.17% 1.30% -4.52% -2.34% -2.98% 0.49% 0.68% 3.43% 0.87% 0.44% 1.07% -1.22% -2.21% -2.13% -4.45% 1.75% 0.43% -1.62% -3.10% 2.56% 3.04% -1.37% 0.96% 1.90% 0.16%
SBI 1 BLN 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018%
91
Lanjutan Lampiran 4. Date 4/18/2008 4/21/2008 4/22/2008 4/23/2008 4/24/2008 4/25/2008 4/28/2008 4/29/2008 4/30/2008 5/2/2008 5/5/2008 5/6/2008 5/7/2008 5/8/2008 5/9/2008 5/12/2008 5/13/2008 5/14/2008 5/15/2008 5/16/2008 5/19/2008 5/21/2008 5/22/2008 5/23/2008 5/26/2008 5/27/2008 5/28/2008 5/29/2008 5/30/2008 6/2/2008 6/3/2008 6/4/2008 6/5/2008 6/6/2008 6/9/2008 6/10/2008 6/11/2008 6/12/2008 6/13/2008 6/16/2008 6/17/2008 6/18/2008 6/19/2008 6/20/2008 6/23/2008 6/24/2008 6/25/2008 6/26/2008 6/27/2008 6/30/2008 7/1/2008 7/2/2008 7/3/2008 7/4/2008 7/7/2008 7/8/2008 7/9/2008 7/10/2008 7/11/2008 7/14/2008 7/15/2008 7/16/2008 7/17/2008 7/18/2008 7/21/2008 7/22/2008 7/23/2008 7/24/2008 7/25/2008
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 0.63% 0.65% 0.50% 0.39% 0.58% 0.54% 0.51% -0.61% -0.58% -0.61% -0.66% -0.56% -0.94% -0.69% -2.21% -2.44% -2.00% -2.09% -1.73% -1.89% -1.89% 1.07% 0.71% 1.63% 1.43% 1.20% 1.11% 1.46% -1.79% -1.49% -2.44% -2.15% -2.29% -2.08% -1.89% -1.37% -1.15% -1.58% -1.55% -1.52% -1.33% -1.46% 0.38% 0.20% 0.58% 0.73% 0.63% 0.49% 0.36% 2.58% 2.58% 2.59% 2.65% 2.75% 2.42% 1.97% -0.17% 0.07% -0.32% -0.40% -0.41% -0.20% -0.29% 1.88% 2.07% 1.88% 1.61% 1.81% 1.75% 0.68% 2.03% 1.95% 2.27% 2.10% 2.16% 1.82% 1.71% -0.50% -0.66% -0.25% -0.25% -0.15% -0.20% 0.43% 0.61% 0.41% 0.92% 0.63% 1.05% 0.43% 1.69% -0.33% -0.47% -0.20% -0.29% -0.15% -0.29% -0.50% -0.26% -0.30% -0.03% -0.22% -0.13% -0.20% 0.20% 0.06% 0.05% -0.06% -0.08% 0.09% 0.03% 0.13% 1.68% 1.67% 1.94% 1.78% 1.96% 1.77% 1.50% 1.16% 1.04% 1.95% 1.54% 1.75% 1.12% 0.76% -0.01% 0.16% -0.18% -0.21% -0.39% -0.23% -0.41% 0.72% 0.53% 1.08% 0.80% 1.06% 0.99% 0.99% 1.87% 1.89% 2.42% 2.22% 2.03% 1.88% 2.04% -0.72% -0.73% -0.75% -0.78% -0.95% -0.76% -0.05% 0.00% 0.00% 0.00% -0.02% 0.05% 0.00% 0.30% -1.30% -1.21% -1.49% -1.36% -1.38% -1.18% -1.31% -2.14% -2.25% -1.87% -1.95% -2.07% -2.07% -1.83% -0.93% -1.22% -0.81% -1.10% -0.73% -1.11% -0.77% 1.92% 2.12% 2.19% 1.97% 1.92% 1.78% 1.80% 0.88% 0.84% 1.39% 0.85% 1.43% 0.74% 1.67% 0.06% 0.00% -0.03% -0.10% -0.02% 0.19% -0.39% -0.47% -0.33% -0.76% -0.84% -1.02% -0.79% -0.62% -1.11% 0.00% -1.21% -1.03% -1.25% -1.22% -1.13% -1.91% -3.21% -2.36% -1.88% -2.02% -2.17% -2.30% 1.22% 1.26% 1.23% 1.27% 1.03% 1.28% 1.39% 0.09% -0.03% 0.49% 0.17% 0.35% 0.12% 0.24% 0.17% 0.15% 0.60% 0.52% 0.81% 0.22% 0.72% -1.75% -1.60% -2.31% -2.05% -2.35% -2.17% -1.81% -0.22% -0.52% 0.16% 0.04% -0.25% -0.24% -0.21% 1.51% 1.37% 2.03% 1.80% 1.84% 1.79% 2.03% -0.68% -0.72% -0.68% -0.45% -0.72% -0.96% -0.12% 0.22% 0.20% 0.29% 0.39% 0.20% 0.32% -0.01% -0.74% -0.63% -0.03% -0.61% -0.29% -0.44% -0.59% -0.36% -0.27% -0.53% -0.49% -0.29% -0.23% -0.20% 0.60% 0.41% 1.05% 0.94% 0.84% 0.91% 0.93% 0.36% 0.16% 0.48% 0.45% 0.42% 0.52% 0.54% -0.39% -0.50% -0.19% -0.03% -0.12% -0.45% -0.35% 0.11% 0.24% -0.02% 0.01% -0.12% -0.08% 0.10% -0.88% -0.77% -1.37% -1.25% -1.27% -1.28% -1.28% 0.27% 0.30% 0.07% 0.18% 0.16% 0.36% 0.32% -0.94% -1.21% -0.90% -0.86% -1.07% -1.02% -0.75% 0.46% 0.44% 0.61% 0.60% 0.62% 0.81% 0.77% 1.66% 1.90% 1.52% 1.60% 1.65% 1.85% 1.51% -0.25% -0.22% -0.66% -0.39% -0.29% -0.52% -0.26% -4.08% -4.32% -4.37% -4.11% -4.16% -4.26% -3.69% 1.19% 1.37% 1.63% 1.08% 1.07% 1.32% 0.78% -0.49% -0.58% -0.60% -0.56% -0.51% -0.55% -0.39% -0.65% -0.55% -1.41% -1.07% -1.12% -0.98% -1.11% 0.23% 0.42% -0.08% 0.02% -0.05% 0.06% -0.68% -0.66% -0.50% -0.97% -0.75% -0.75% -1.07% -0.86% -0.02% -0.11% -0.06% 0.07% 0.06% 0.48% 0.18% -0.47% -0.40% -0.43% -0.63% -0.69% -0.75% -0.02% -1.62% -1.76% -1.57% -1.75% -1.65% -1.73% -1.69% -0.90% -1.27% -0.99% -1.10% -1.20% -1.01% 0.09% -2.11% -1.95% -2.56% -2.34% -2.75% -2.19% -2.29% -0.86% -0.44% -1.84% -1.25% -1.44% -1.20% -2.15% 2.55% 2.32% 2.87% 2.70% 3.16% 2.59% 3.09% 1.13% 1.39% 0.58% 0.83% 0.73% 1.18% 0.98% 0.67% 1.36% 0.24% 0.57% 0.94% 0.58% -0.13% 1.55% 1.37% 1.34% 1.39% 1.31% 1.42% 1.02% -0.71% -0.85% 0.36% -0.27% -0.25% -0.69% -0.15%
8 Danareksa Mawar 0.54% -0.60% -1.88% 1.74% -2.12% -1.61% 0.56% 2.53% -0.36% 1.32% 1.93% -0.13% 0.66% -0.11% -0.23% -0.15% 1.50% 1.08% -0.21% 0.88% 2.04% -0.64% -0.04% -1.59% -1.96% -0.57% 1.94% 1.55% -0.19% -0.73% -1.09% -2.11% 1.36% 0.52% 0.91% -2.23% -0.23% 2.45% -0.56% -0.13% -0.26% -0.19% 0.89% 0.33% -0.05% -0.04% -1.32% 0.36% -0.87% 0.81% 1.85% -0.35% -4.40% 1.16% -0.53% -1.36% -0.23% -0.80% 0.06% -0.55% -1.65% -1.11% -2.98% -2.34% 2.81% 0.68% -0.25% 1.84% -0.29%
9 TRIM Kapital 0.52% 0.08% -1.65% 1.77% -2.90% -2.19% 0.76% 2.75% -0.41% 1.31% 1.76% 0.09% 1.45% 0.02% -0.39% 0.25% 1.79% 0.82% -0.22% 1.61% 2.78% -0.78% 0.50% -1.35% -1.61% -0.31% 1.83% 1.70% 0.00% -1.01% -1.57% -2.66% 1.32% 1.32% 0.42% -2.49% -0.54% 2.41% -0.76% 0.03% 0.18% -0.42% 0.93% 0.59% -0.33% -0.38% -1.34% 0.21% -1.05% 1.04% 1.33% -0.60% -3.91% 1.42% -0.23% -1.13% -0.21% -0.77% 0.05% -0.47% -1.59% -0.60% -2.36% -1.58% 3.25% 1.31% 0.11% 1.28% -0.38%
IHSG 0.32% -0.57% -2.00% 1.10% -1.92% -1.30% 0.61% 2.18% 0.04% 1.66% 1.93% -0.68% 0.46% -0.24% -0.08% 0.13% 1.72% 1.26% 0.02% 0.78% 1.71% -0.65% 0.37% -1.52% -1.87% -0.94% 1.53% 0.54% -0.11% -0.68% -0.99% -1.72% 1.57% 0.11% 0.33% -1.50% 0.04% 1.44% -0.44% -0.02% -0.84% -0.56% 0.36% -0.05% -0.38% 0.11% -1.02% 0.41% -0.80% 0.73% 1.26% -0.01% -3.86% 1.23% -0.47% -1.08% 0.31% -0.43% 0.03% -0.76% -1.98% 0.15% -2.27% -1.23% 2.52% 0.81% 0.59% 1.40% -0.52%
SBI 1 BLN 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020%
92
Lanjutan Lampiran 4. Date 7/28/2008 7/29/2008 7/31/2008 8/1/2008 8/4/2008 8/5/2008 8/6/2008 8/7/2008 8/8/2008 8/11/2008 8/12/2008 8/13/2008 8/14/2008 8/15/2008 8/19/2008 8/20/2008 8/21/2008 8/22/2008 8/25/2008 8/26/2008 8/27/2008 8/28/2008 8/29/2008 9/1/2008 9/2/2008 9/3/2008 9/4/2008 9/5/2008 9/8/2008 9/9/2008 9/10/2008 9/11/2008 9/12/2008 9/15/2008 9/16/2008 9/17/2008 9/18/2008 9/19/2008 9/22/2008 9/23/2008 9/24/2008 9/25/2008 9/26/2008 9/29/2008 10/6/2008 10/7/2008 10/8/2008 10/13/2008 10/14/2008 10/15/2008 10/16/2008 10/17/2008 10/20/2008 10/21/2008 10/22/2008 10/23/2008 10/24/2008 10/27/2008 10/28/2008 10/29/2008 10/30/2008 10/31/2008 11/3/2008 11/4/2008 11/5/2008 11/6/2008 11/7/2008 11/10/2008 11/11/2008
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 1.18% 1.12% 0.77% 1.03% 1.00% 1.03% 1.34% 0.61% 0.84% 0.27% 0.35% 0.34% 0.25% 0.07% 1.61% 1.52% 1.83% 1.66% 1.78% 1.58% 1.30% -2.60% -2.74% -2.59% -2.44% -2.49% -2.39% -2.40% -0.98% -0.86% -1.65% -1.26% -1.33% -1.34% -1.74% -1.71% -1.52% -2.41% -1.95% -1.83% -1.66% -2.09% 0.34% 0.46% -0.05% -0.05% 0.33% 0.18% -0.04% 0.59% 0.62% 0.75% 0.71% 0.61% 0.79% 0.29% 0.21% 0.20% 0.40% 0.10% -0.14% 0.12% 0.35% -2.59% -2.35% -3.71% -3.02% -2.99% -2.84% -2.92% -3.29% -2.96% -4.38% -3.46% -3.97% -3.33% -4.29% 0.41% 0.26% 0.04% 0.11% 0.50% 0.39% -0.16% 2.05% 1.35% 3.08% 2.69% 2.42% 2.38% 2.13% -1.08% -0.74% -1.73% -1.42% -1.20% -1.20% -1.17% -1.65% -1.55% -2.36% -1.88% -2.10% -2.17% -1.99% 1.38% 1.14% 2.12% 1.69% 1.53% 1.41% 1.21% 0.92% 0.84% 1.60% 1.24% 1.03% 1.26% 1.14% 1.21% 1.23% 1.64% 1.46% 1.50% 1.36% 1.21% 0.58% 0.73% 0.21% 0.38% 0.42% 0.56% 0.35% -0.98% -0.90% -0.86% -0.87% -0.90% -0.78% -0.82% 1.38% 1.48% 1.20% 1.05% 1.20% 1.29% 1.10% 0.81% 0.76% 0.73% 0.61% 0.77% 0.94% 0.95% 1.30% 1.39% 0.92% 0.94% 1.11% 0.71% 0.95% 0.22% 0.34% 0.29% 0.20% 0.41% 0.34% 0.01% 0.12% 0.40% -0.85% -0.19% 0.10% 0.11% 0.11% -1.87% -1.46% -2.83% -2.37% -2.40% -2.17% -1.98% -1.96% -2.12% -2.36% -2.06% -2.24% -2.14% -1.97% -1.92% -1.97% -3.30% -2.53% -2.70% -2.43% -2.27% 0.57% 0.61% 0.76% 0.53% 0.22% 0.70% -0.01% -3.36% -3.20% -4.80% -4.26% -4.52% -3.99% -3.22% -3.06% -2.95% -5.50% -4.15% -4.60% -3.99% -3.09% -1.43% -1.83% -0.86% -0.99% -0.90% -1.01% -1.17% -3.70% -4.21% -3.73% -3.64% -3.83% -3.77% -3.97% -3.97% -3.75% -6.37% -5.26% -5.73% -5.00% -4.73% 1.89% 2.46% 1.56% 1.80% 2.26% 1.69% 2.39% 1.76% 1.59% 2.28% 1.93% 1.78% 1.74% 1.67% 1.19% 0.47% 1.79% 1.62% 1.70% 0.98% 1.05% 5.53% 5.74% 7.65% 6.30% 7.20% 6.54% 6.23% 0.52% 0.42% 0.27% 0.33% 0.30% 0.54% 1.12% -1.45% -1.95% -1.45% -1.27% -1.69% -2.03% -2.39% 0.30% 0.58% 0.40% 0.45% 0.29% 0.76% -0.07% -0.69% -0.37% -1.33% -1.22% -1.54% -1.06% -0.49% -0.65% -0.31% -1.10% -0.75% -1.06% -1.08% -0.52% -1.25% -1.18% -1.16% -1.06% -1.37% -1.41% -1.18% -8.23% -7.85% -13.01% -10.86% -12.46% -9.22% -7.09% -1.43% -1.24% -1.34% -0.91% -1.46% -1.12% -1.23% -10.97% -11.91% -11.02% -10.15% -12.14% -10.07% -9.86% 1.90% 2.06% 1.37% 1.20% 1.94% 1.35% 0.82% 6.84% 7.31% 6.56% 6.36% 7.49% 6.37% 6.48% -2.34% -2.03% -2.74% -2.45% -2.81% -3.10% -2.70% -3.61% -3.52% -3.97% -3.78% -4.70% -3.95% -3.83% -4.51% -4.26% -5.07% -4.81% -5.70% -4.45% -4.75% 2.07% 1.63% 1.74% 1.75% 1.95% 1.72% 1.72% 1.02% 1.08% 0.98% 0.94% 1.09% 1.49% 0.82% -4.37% -4.41% -4.90% -4.39% -5.35% -3.98% -3.95% -3.38% -3.41% -4.16% -3.48% -4.27% -3.51% -3.10% -6.86% -7.37% -6.81% -6.46% -7.53% -6.74% -6.82% -5.66% -5.78% -7.30% -6.62% -7.19% -6.38% -6.09% -5.04% -5.74% -5.57% -4.65% -5.07% -5.34% -3.90% 0.43% 0.43% -1.28% -0.26% -0.18% -0.03% 0.43% 5.62% 5.74% 5.89% 5.43% 6.72% 5.38% 5.34% 7.62% 7.01% 9.83% 8.64% 9.60% 7.58% 7.29% 7.97% 7.93% 10.34% 9.13% 10.28% 7.69% 8.14% 1.49% 2.07% 2.03% 1.51% 1.81% 0.97% 1.42% -0.80% -1.15% -1.55% -1.17% -1.10% -0.46% -0.92% -4.28% -4.13% -4.51% -3.84% -5.70% -3.97% -3.93% 2.82% 2.45% 4.03% 3.22% 4.20% 2.83% 3.61% 0.30% 0.15% 0.32% 0.30% 0.28% 0.58% 0.97% 0.12% 0.11% -0.28% -0.01% -0.07% -0.37% 0.31%
8 Danareksa Mawar 1.03% 0.15% 2.03% -2.26% -1.39% -2.55% -0.13% 0.92% 0.14% -3.69% -4.38% 0.17% 3.48% -1.91% -2.50% 1.86% 1.63% 1.83% 0.27% -1.06% 1.14% 0.73% 0.95% 0.32% -0.74% -2.75% -2.25% -2.72% 0.54% -4.62% -4.96% -0.84% -3.72% -5.02% 0.82% 1.97% 2.45% 6.72% 0.06% -0.94% 0.25% -1.53% -1.57% -1.50% -11.57% -1.07% -9.50% 1.45% 6.25% -2.76% -4.11% -5.12% 2.15% 0.37% -4.53% -3.41% -6.87% -5.85% -1.88% -2.80% 5.65% 8.96% 8.81% 1.90% -1.70% -5.19% 3.88% 0.29% -0.10%
9 TRIM Kapital 0.73% 0.04% 1.12% -2.40% -1.08% -2.24% -0.07% 1.02% 0.24% -3.12% -4.11% 0.35% 2.47% -1.44% -2.46% 1.35% 1.09% 1.21% 0.23% -0.98% 1.41% 0.65% 1.12% 0.26% -0.01% -2.98% -2.06% -2.85% 0.10% -4.16% -4.69% -1.25% -3.83% -5.60% 2.51% 1.72% 1.74% 7.57% -0.11% -1.68% 0.47% -1.66% -1.48% -1.52% -13.18% -0.81% -11.89% 2.36% 7.41% -3.42% -4.62% -5.86% 2.47% 1.15% -5.16% -4.33% -7.97% -7.21% -4.79% -1.21% 7.25% 10.35% 12.16% 2.94% -2.86% -6.28% 4.97% -0.18% -0.66%
IHSG 1.35% 0.13% 1.13% -2.42% -0.94% -1.89% 0.07% 0.54% -0.14% -2.82% -3.58% 0.29% 2.09% -1.02% -2.05% 1.33% 0.90% 1.54% 0.32% -0.92% 1.12% 0.65% 0.98% -0.06% -0.26% -1.99% -1.93% -2.54% 0.76% -3.89% -3.76% -0.79% -3.53% -4.70% 0.95% 1.97% 1.00% 5.82% 0.30% -1.28% 0.56% -0.72% -1.28% -0.74% -10.03% -1.76% -10.38% 0.70% 6.44% -2.29% -3.76% -4.36% 1.97% 0.93% -4.19% -3.08% -6.91% -6.30% -4.72% 0.20% 5.41% 7.06% 7.64% 1.26% -0.26% -4.27% 2.33% 0.17% -0.31%
SBI 1 BLN 0.020% 0.020% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.023% 0.023% 0.023% 0.023% 0.023% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.025% 0.025% 0.025% 0.025% 0.025%
93
Lanjutan Lampiran 4. Date 11/12/2008 11/13/2008 11/14/2008 11/17/2008 11/18/2008 11/19/2008 11/20/2008 11/21/2008 11/24/2008 11/25/2008 11/26/2008 11/27/2008 11/28/2008 12/1/2008 12/2/2008 12/3/2008 12/4/2008 12/5/2008 12/9/2008 12/10/2008 12/11/2008 12/12/2008 12/15/2008 12/16/2008 12/17/2008 12/18/2008 12/19/2008 12/22/2008 12/23/2008 12/24/2008 12/26/2008 12/30/2008
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham -0.96% -0.98% -0.50% -0.60% -0.75% -0.62% -0.63% -5.04% -4.80% -5.57% -5.10% -6.21% -4.90% -4.42% 0.72% 0.93% 0.20% 0.06% 0.54% 0.54% 1.03% -1.97% -1.90% -2.12% -1.97% -2.50% -2.06% -1.40% -2.98% -2.85% -2.87% -2.52% -4.53% -3.28% -2.56% -0.68% -0.88% -1.65% -1.10% -1.39% -0.77% 0.06% -1.80% -1.44% -3.02% -2.70% -3.35% -2.38% -2.06% 0.37% 0.41% -0.16% 0.13% 0.06% 0.17% 0.73% -0.66% -0.77% -0.92% -0.79% -0.39% -0.37% -0.11% 1.31% 1.43% 1.46% 1.18% 2.10% 0.90% 1.07% 3.78% 3.72% 3.66% 3.43% 4.46% 3.43% 3.05% 0.77% 0.54% 1.61% 1.48% 1.73% 1.26% 0.83% 3.87% 4.11% 3.26% 2.97% 4.03% 3.01% 3.07% -1.47% -1.28% -1.87% -1.81% -1.99% -1.31% -1.45% -2.40% -2.56% -3.06% -2.67% -3.15% -2.26% -2.25% -0.05% -0.21% 0.14% 0.29% -0.16% 0.15% 0.16% 1.40% 1.27% 1.80% 1.66% 2.18% 1.32% 1.45% -0.43% -0.37% -0.28% -0.25% -0.37% -0.14% -0.44% 6.46% 6.00% 6.39% 6.04% 6.96% 5.78% 5.50% 4.51% 3.89% 5.36% 4.75% 5.67% 4.06% 4.46% 0.16% 0.18% 0.57% 0.50% 0.93% 0.31% -0.43% -4.93% -4.71% -5.00% -4.84% -5.68% -4.50% -4.74% 8.25% 7.84% 8.75% 8.63% 9.51% 7.76% 7.53% -1.17% -1.33% -1.33% -1.09% -1.50% -1.35% -0.86% 1.34% 1.61% 1.72% 1.63% 1.63% 1.44% 1.55% -0.47% -0.20% -0.17% -0.28% -0.12% -0.54% -0.35% -1.19% -1.26% -0.64% -0.58% -1.01% -1.09% -0.07% -0.52% -0.59% -0.84% -0.46% -0.82% -0.53% -0.49% 0.21% 0.09% -0.49% -0.55% -0.49% -0.24% 0.32% -0.56% -0.43% -0.31% -0.55% -0.53% -0.65% -0.53% 0.17% 0.13% 0.26% 0.27% 0.36% 0.19% 0.57% 1.07% 1.02% 1.06% 0.83% 1.11% 1.08% 0.99%
Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham -2.20% -3.37% -1.54% -1.99% -1.47% -2.30% -4.63% 3.47% 2.72% 2.76% 3.25% 3.35% 2.99% 3.80% -10.90% -8.70% -13.05% -12.04% -12.93% -11.87% -13.17% -5.53% -5.83% -6.46% -6.08% -6.25% -5.66% -5.43% 6.68% 5.88% 10.36% 7.12% 9.34% 6.46% 8.62% -4.45% -5.25% -3.35% -3.11% -4.52% -4.69% -2.32% -0.46% 0.67% -4.13% -2.91% -2.81% -2.60% -3.05% -3.70% -3.16% -7.07% -5.35% -5.54% -4.32% -7.96% -11.96% -11.50% -19.48% -15.54% -16.95% -15.26% -13.29% -30.91% -32.25% -40.82% -34.49% -40.07% -34.01% -30.41% 4.35% 4.95% 3.75% 3.60% 3.49% 2.19% 8.26% 10.36% 9.11% 12.03% 11.52% 12.52% 9.46% 10.92%
Date January-08 February-08 March-08 April-08 May-08 June-08 July-08 August-08 September-08 October-08 November-08 December-08 Average Return Standard Deviasi Beta SHARPE JENSEN 2008
8 Danareksa Mawar -0.05% -4.80% 0.27% -2.43% -3.46% -1.05% -2.32% 0.76% -1.33% 1.04% 3.93% 0.44% 3.82% -1.75% -2.69% -0.12% 1.61% -0.72% 5.65% 5.02% -0.10% -5.03% 9.39% -1.64% 0.96% -0.43% -1.37% -0.76% 0.10% -0.60% 0.25% 0.39%
Danareksa Mawar -2.21% 4.55% -13.19% -3.92% 7.06% -2.19% -5.23% -6.77% -18.54% -34.63% 2.71% 8.16%
9 TRIM Kapital
IHSG
0.28% -6.48% 0.85% -2.97% -4.85% -1.53% -3.04% 0.84% -1.14% 1.43% 4.91% 0.50% 4.76% -2.43% -3.61% -0.50% 2.58% -0.70% 6.96% 6.62% 0.33% -6.45% 10.87% -2.02% 0.94% -0.52% -1.26% -1.29% 0.24% -0.92% 0.43% 0.69%
TRIM Kapital
SBI 1 BLN
-0.74% -5.04% 0.37% -2.17% -3.81% -0.80% -2.15% -0.75% -0.43% 1.12% 3.38% 0.75% 3.28% -1.48% -2.60% 0.10% 1.07% -0.25% 5.30% 3.93% 0.06% -4.08% 7.63% -1.21% 1.57% -0.90% -0.26% -0.22% -0.12% -0.53% 0.32% 1.08%
IHSG
0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024%
SBI 1 BLN
-4.82% 3.06% -16.36% -5.86% 11.25% -4.12% -3.20% -6.75% -17.99% -39.45% 3.64% 9.97%
-3.33% 3.68% -10.21% -5.59% 6.02% -3.90% -1.70% -5.95% -15.36% -35.07% -0.43% 9.43%
0.36% 0.34% 0.30% 0.39% 0.36% 0.40% 0.44% 0.41% 0.42% 0.42% 0.50% 0.46%
-3.77% 0.10865 1.01 -0.383838186 0.015
-3.90% 0.10866 0.99 -0.395273973 0.013
-5.58% 0.14264 1.16 -0.419493834 0.005
-4.67% 0.12094 1.06 -0.41920187 0.008
-5.15% 0.13845 1.19 -0.401047326 0.011
-4.97% 0.11536 1.00 -0.46513309 0.002
-4.05% 0.11611 1.00 -0.383578282 0.012
-5.35% 0.12121 1.07 -0.474310148 0.003
-5.89% 0.13853 1.28 -0.453748077 0.009
-5.20% 0.11601 1.00 -0.482718568 0.000
0.40% 0.00055 0.00 0 0.000
-45.25%
-46.74%
-67.01%
-56.04%
-61.84%
-59.60%
-48.65%
-64.19%
-70.63%
-62.41%
4.80%
94
Lampiran 5. Perhitungan tahun 2009 Date 1/5/2009 1/6/2009 1/7/2009 1/8/2009 1/9/2009 1/12/2009 1/13/2009 1/14/2009 1/15/2009 1/16/2009 1/19/2009 1/20/2009 1/21/2009 1/22/2009 1/23/2009 1/27/2009 1/28/2009 1/29/2009 1/30/2009 2/2/2009 2/3/2009 2/4/2009 2/5/2009 2/6/2009 2/9/2009 2/10/2009 2/11/2009 2/12/2009 2/13/2009 2/16/2009 2/17/2009 2/18/2009 2/19/2009 2/20/2009 2/23/2009 2/24/2009 2/25/2009 2/26/2009 2/27/2009 3/2/2009 3/3/2009 3/4/2009 3/5/2009 3/6/2009 3/10/2009 3/11/2009 3/12/2009 3/13/2009 3/16/2009 3/17/2009 3/18/2009 3/19/2009 3/20/2009 3/23/2009 3/24/2009 3/25/2009 3/27/2009 3/30/2009 3/31/2009 4/1/2009 4/2/2009 4/3/2009 4/6/2009 4/7/2009 4/8/2009 4/13/2009 4/14/2009 4/15/2009 4/16/2009
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 6.28% 6.11% 0.00% 6.83% 7.44% 5.90% 5.90% 0.05% 0.37% 7.58% 0.19% 0.39% 0.52% -0.20% -1.27% -1.55% -0.97% -0.92% -1.17% -1.23% -1.59% -1.00% -1.11% -1.71% -1.72% -2.11% -1.35% -0.96% 1.16% 0.50% 1.48% 1.38% 1.56% 1.36% 0.98% -0.14% 0.14% -0.82% -0.44% -0.61% -0.27% -0.39% -0.39% -0.28% -0.89% -0.75% -0.95% -0.86% -0.66% -0.84% -0.89% -0.98% -1.19% -1.20% -0.95% -1.47% -2.97% -2.97% -3.44% -3.44% -4.01% -3.08% -3.53% 1.25% 1.22% 1.55% 1.61% 1.78% 1.46% 1.88% -0.78% -0.79% -0.79% -0.75% -0.86% -0.64% -0.89% -0.43% -0.54% -0.42% -0.47% -0.61% 0.19% -0.90% -1.78% -2.13% -2.21% -1.90% -2.75% -1.73% -2.30% 0.64% 0.98% 0.60% 0.54% 0.79% 0.22% 0.62% -0.66% -0.51% -1.13% -1.08% -1.16% -0.62% -0.87% 1.40% 1.31% 1.93% 1.81% 2.12% 1.27% 1.19% -1.08% -0.94% -0.97% -1.08% -1.11% -1.11% -0.99% 0.34% -0.01% 0.58% 0.50% 0.49% 0.53% 0.26% 0.88% 1.06% 0.88% 0.84% 1.05% 0.71% 0.52% -1.72% -1.69% -2.00% -1.90% -2.07% -1.71% -1.71% -0.11% -0.08% -0.39% -0.32% -0.19% -0.06% 0.25% 0.84% 0.57% 0.47% 0.59% 0.59% 0.75% 1.15% 0.24% 0.27% 0.42% 0.38% 0.50% 0.43% 0.35% 1.37% 1.01% 2.27% 1.95% 2.20% 1.50% 1.73% -0.45% -0.38% -0.43% -0.37% -0.35% -0.08% -0.60% 0.00% -1.16% -1.27% 0.00% 0.00% 0.00% 0.00% -1.94% -0.64% -0.68% -1.69% -1.68% -1.85% -1.50% 0.38% 0.27% 0.28% 0.25% 0.30% 0.46% 0.23% 0.95% 0.76% 1.14% 1.13% 1.22% 0.92% 1.15% 0.20% 0.31% 0.54% 0.36% 0.47% 0.32% -0.18% -1.61% -2.03% -2.05% -1.61% -1.98% -1.76% -1.73% 0.81% 1.34% 1.21% 1.10% 1.32% 0.84% 0.50% -0.93% -0.52% -0.51% -0.47% -0.15% -0.39% -1.53% -0.86% -1.16% -1.90% -1.65% -1.97% -1.98% 0.23% 0.97% 0.99% 1.17% 1.11% 1.16% 1.28% 1.41% -1.21% -1.26% -1.56% -1.33% -1.32% -1.52% -1.50% 0.40% 0.59% 0.67% 0.72% 0.86% 0.56% 0.19% -0.86% -0.79% -0.95% -1.02% -1.06% -0.91% -1.19% -0.66% -0.74% -0.18% -0.50% -0.47% -0.68% -0.41% -2.34% -2.58% -2.96% -2.64% -2.98% -2.08% -2.58% 0.63% 0.89% 1.00% 0.74% 0.93% 0.74% 1.12% 2.18% 2.16% 2.39% 2.32% 2.71% 2.10% 2.35% -0.33% -0.33% -0.39% -0.49% -0.55% -0.22% -1.03% 0.07% 0.11% 0.00% -0.12% -0.20% -0.07% 0.31% 1.37% 1.32% 1.28% 1.24% 1.41% 1.46% 1.39% 1.03% 1.22% 1.24% 1.24% 1.29% 1.25% 0.84% -0.56% -0.36% -0.62% -0.50% -0.44% -0.56% -0.67% 1.17% 1.11% 1.41% 1.33% 1.37% 1.38% 1.48% -0.27% -0.44% -0.21% -0.15% -0.33% -0.19% -0.41% -0.99% -1.22% -0.99% -0.87% -1.03% -0.73% -1.09% 0.87% 1.17% 1.21% 1.12% 1.40% 1.59% 1.15% 1.45% 1.59% 1.38% 1.44% 1.65% 1.11% 1.30% 1.41% 1.17% 1.04% 1.18% 0.96% 1.12% 1.46% 4.06% 3.96% 4.32% 4.08% 4.47% 3.72% 4.00% 1.67% 1.35% 2.01% 2.15% 2.19% 1.75% 1.85% -1.05% -0.57% -1.31% -1.46% -1.06% -0.69% -1.19% 2.58% 2.40% 2.62% 2.63% 2.91% 2.45% 2.79% -3.05% -2.81% -3.54% -3.55% -3.86% -2.92% -3.23% 1.28% 1.42% 1.14% 1.14% 1.32% 1.38% 0.99% 1.65% 2.07% 2.47% 2.20% 2.31% 1.94% 2.16% 2.36% 2.25% 3.33% 3.02% 3.44% 2.73% 3.06% -0.48% -0.69% -0.22% -0.10% 0.13% -0.34% 0.01% 1.38% 0.70% 1.65% 1.28% 1.32% 0.99% 2.29% -1.90% -2.17% -2.02% -1.83% -2.14% -1.57% -1.99% -1.24% -1.34% -1.63% -1.62% -1.47% -1.16% -0.73% 5.55% 5.02% 6.16% 5.55% 6.54% 4.50% 6.30% 1.30% 1.29% 2.18% 2.34% 2.66% 2.08% 3.43% 1.05% 0.97% 1.23% 0.89% 1.59% 0.78% 1.39% 1.86% 1.89% 1.75% 1.68% 1.86% 1.58% 1.96%
8 9 Danareksa TRIM Kapital Mawar 7.97% 7.62% -0.23% -0.01% -1.31% -0.99% -2.12% -2.20% 2.00% 2.33% -0.70% -1.05% -1.07% -1.08% -1.28% -0.93% -3.66% -3.97% 2.00% 2.44% -1.00% -0.74% -0.47% -0.20% -1.67% -2.56% 0.78% 0.75% -1.05% -1.18% 2.21% 2.20% -1.13% -1.15% -0.24% 0.15% 1.08% 0.97% -1.61% -2.09% -0.35% -0.08% 0.75% 0.62% 0.70% 0.59% 2.46% 2.56% -0.59% -0.87% -0.49% -1.16% -0.25% -0.01% -0.36% -0.52% 0.98% 1.33% 0.11% -0.04% -1.89% -2.16% 1.08% 1.18% 0.16% -0.22% -1.86% -1.50% 1.34% 1.27% -1.11% -1.50% 0.56% 1.06% -0.86% -1.23% -0.44% -0.78% -2.98% -3.52% 0.60% 0.80% 2.40% 2.80% -0.48% -1.08% 0.02% -0.10% 0.91% 1.39% 0.79% 0.98% -0.24% 0.42% 1.12% 1.67% -0.36% -0.43% -1.06% -1.18% 1.10% 1.32% 1.11% 1.29% 1.31% 1.36% 3.62% 4.31% 1.39% 1.90% -1.42% -1.14% 2.39% 2.78% -3.33% -3.96% 1.00% 1.24% 1.58% 2.55% 2.60% 3.51% 0.37% 0.24% 1.66% 1.51% -1.77% -2.24% -0.82% -1.10% 5.49% 6.68% 2.42% 3.51% 1.67% 1.24% 1.58% 1.93%
IHSG 6.04% -0.13% -0.98% -1.32% 1.00% -0.71% -0.48% -0.92% -3.13% 1.52% -0.97% -0.48% -1.69% 0.44% -0.88% 1.60% -1.14% 0.24% 0.61% -1.65% -0.48% 1.23% 0.58% 1.70% -0.62% -0.75% -0.55% 0.05% 1.00% 0.24% -1.79% 0.95% -0.52% -2.02% 1.20% -1.26% 0.33% -0.75% -0.38% -2.28% 0.69% 1.94% -0.10% -0.11% 1.05% 1.10% -0.31% 1.30% -0.20% -0.96% 0.82% 1.42% 1.44% 3.36% 2.10% -1.12% 3.01% -2.98% 1.06% 1.93% 2.60% 0.04% 1.09% -1.70% -1.68% 5.09% 1.94% 1.49% 1.97%
SBI 1 BLN 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.018% 0.018% 0.018% 0.018% 0.018% 0.019% 0.019% 0.019% 0.019% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017%
95
Lanjutan Lampiran 5. Date 4/17/2009 4/20/2009 4/21/2009 4/22/2009 4/23/2009 4/24/2009 4/27/2009 4/28/2009 4/29/2009 4/30/2009 5/1/2009 5/4/2009 5/5/2009 5/6/2009 5/7/2009 5/8/2009 5/11/2009 5/12/2009 5/13/2009 5/14/2009 5/15/2009 5/18/2009 5/19/2009 5/20/2009 5/22/2009 5/25/2009 5/26/2009 5/27/2009 5/28/2009 5/29/2009 6/1/2009 6/2/2009 6/3/2009 6/4/2009 6/5/2009 6/8/2009 6/9/2009 6/10/2009 6/11/2009 6/12/2009 6/15/2009 6/16/2009 6/17/2009 6/18/2009 6/19/2009 6/22/2009 6/23/2009 6/24/2009 6/25/2009 6/26/2009 6/29/2009 6/30/2009 7/1/2009 7/2/2009 7/3/2009 7/6/2009 7/7/2009 7/9/2009 7/10/2009 7/13/2009 7/14/2009 7/15/2009 7/16/2009 7/17/2009 7/21/2009 7/22/2009 7/23/2009 7/24/2009 7/27/2009
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 0.64% 0.40% 1.21% 1.04% 1.03% 0.88% 0.67% 0.38% 0.38% 1.62% 1.21% 1.01% 1.14% 3.27% -1.76% -1.77% -1.71% -1.83% -2.14% -1.44% -1.24% -0.55% -0.62% -1.36% -1.09% -0.98% -1.27% -2.23% -1.38% -1.47% -1.70% -1.35% -1.64% -1.47% -1.50% 0.13% -0.10% 0.33% 0.23% 0.74% 0.71% 0.80% -0.96% -1.19% -1.03% -1.07% -1.24% -1.26% -1.12% 1.03% 1.32% 1.30% 1.20% 1.07% 1.11% 0.98% 3.09% 3.54% 0.00% 2.96% 3.43% 3.36% 4.11% 5.37% 6.01% 9.43% 5.32% 5.85% 5.18% 5.89% 0.01% 0.26% 0.25% 0.44% 0.56% 0.51% -0.21% 3.12% 3.08% 3.92% 3.65% 4.10% 3.67% 4.26% -0.89% -1.50% -0.40% -0.60% -0.67% -1.27% -0.04% 0.96% 1.07% 1.71% 1.23% 1.23% 1.09% 2.50% 1.71% 2.17% 2.73% 2.24% 2.65% 2.39% 3.88% 2.00% 2.81% 2.65% 2.14% 2.14% 1.70% 2.81% -2.17% -2.36% -1.89% -1.91% -2.07% -2.03% -1.06% 0.21% 1.41% 1.03% 0.66% 0.52% 0.87% 2.57% 0.14% 0.35% 1.05% 0.63% 0.47% 0.68% 0.96% -3.51% -4.56% -4.28% -3.85% -4.59% -4.25% -6.11% -1.15% -2.31% -2.12% -1.54% -1.37% -1.65% -2.75% 3.01% 4.13% 0.00% 2.85% 3.26% 3.72% 3.59% 5.08% 5.01% 9.53% 5.16% 5.58% 4.96% 5.22% 0.31% 0.11% 0.21% 0.12% 0.02% 0.36% 0.35% -0.56% -0.42% -0.57% -0.40% -0.57% -0.44% -0.52% 0.09% -0.11% 0.38% 0.30% 0.01% 0.51% -0.06% -1.94% -2.03% -2.21% -2.04% -2.22% -2.22% -2.10% 2.54% 2.84% 2.16% 2.01% 2.22% 2.10% 2.35% 0.75% 1.07% 0.79% 0.62% 0.48% 1.09% 0.39% 0.84% 0.75% 1.84% 1.26% 1.76% 1.12% 1.55% 5.59% 4.42% 5.57% 5.10% 6.08% 4.63% 6.20% 0.32% 0.36% -0.41% 0.11% 0.02% 0.36% -0.22% 1.11% 1.21% 0.68% 1.00% 1.03% 0.49% 0.70% 1.05% 1.28% 1.08% 1.18% 1.06% 0.94% 1.30% 2.19% 2.71% 3.04% 2.96% 3.04% 2.83% 2.69% -1.42% -1.00% -1.62% -1.41% -1.47% -1.56% -1.25% 1.72% 1.82% 1.97% 1.72% 1.53% 1.82% 1.52% 0.46% 0.17% 0.76% 0.67% 0.44% 0.84% 0.33% -1.42% -1.46% -1.66% -1.60% -1.77% -1.34% -1.41% 0.04% 0.09% -0.22% 0.00% -0.19% -0.15% -0.03% -1.32% -1.14% -1.69% -1.22% -1.16% -1.52% -1.21% -2.21% -2.18% -2.17% -2.16% -2.75% -2.52% -1.79% -0.61% -0.55% -0.17% -0.52% -0.26% -0.28% -0.62% -3.51% -3.21% -3.97% -3.88% -4.16% -3.93% -3.33% 2.59% 2.46% 2.34% 2.33% 2.20% 2.29% 2.29% -0.53% -0.05% -1.11% -0.85% -0.78% -0.60% -1.21% -2.76% -2.28% -3.25% -2.78% -2.70% -3.00% -2.91% 4.25% 3.62% 4.87% 4.52% 4.39% 4.59% 4.29% 2.54% 2.32% 2.91% 2.77% 2.71% 2.64% 2.83% 0.02% -0.01% -0.22% -0.19% -0.14% -0.16% -0.42% -0.10% 0.02% -0.04% -0.03% -0.11% -0.19% 0.11% -0.61% -0.49% -0.73% -0.64% -0.91% -0.79% -0.49% 1.43% 1.35% 1.48% 1.44% 1.34% 1.37% 1.48% 0.24% 0.31% -0.22% 0.11% -0.02% 0.15% 0.29% 0.46% 0.77% 0.40% 0.47% 0.48% 0.52% 0.61% -1.79% -1.55% -2.27% -2.06% -2.11% -2.18% -2.28% 2.92% 2.93% 3.33% 3.07% 2.89% 2.92% 3.00% -0.10% -0.03% 0.14% 0.04% 0.39% 0.20% 0.18% -0.62% -0.35% -0.98% -0.85% -0.95% -0.76% -1.02% -1.91% -1.71% -2.29% -2.17% -1.87% -2.03% -2.38% 1.71% 1.60% 1.91% 1.83% 1.58% 1.90% 1.74% 3.43% 2.96% 3.57% 3.38% 3.30% 3.14% 3.54% 0.20% 0.54% 0.18% 0.12% 0.05% 0.14% -0.25% -0.49% -0.64% -0.71% -0.60% -0.79% -0.63% -0.37% 1.73% 1.55% 2.27% 2.06% 1.92% 2.11% 2.43% -0.64% -0.75% -0.78% -0.85% -0.81% -0.76% -0.76% 1.50% 1.47% 1.67% 1.44% 1.25% 1.50% 1.12% 1.39% 1.57% 1.43% 1.41% 1.38% 1.46% 0.88% 1.35% 0.96% 0.66% 0.97% 0.56% 0.77% 1.13%
8 9 Danareksa TRIM Kapital Mawar 1.04% 0.66% 2.05% 2.44% -1.76% -2.31% -1.87% -2.45% -1.46% -1.87% 0.76% 0.81% -1.02% -1.20% 0.71% 1.18% 2.98% 3.72% 5.04% 6.52% -0.35% 0.30% 3.93% 4.54% 0.26% -0.60% 2.08% 2.53% 2.37% 3.86% 3.13% 3.16% -1.74% -1.23% 1.50% 2.18% -0.01% 0.94% -5.10% -6.45% -2.03% -3.28% 3.00% 5.03% 5.01% 5.17% 0.50% -0.29% -0.82% -0.64% 0.45% 0.36% -2.13% -2.81% 1.98% 1.94% 0.28% 0.40% 1.66% 2.94% 7.28% 6.11% -0.84% -0.75% 1.06% 0.71% 1.10% 1.36% 2.77% 3.53% -2.15% -2.05% 1.93% 1.39% 0.90% 1.42% -1.53% -2.09% 0.00% -0.45% -1.74% -2.37% -2.02% -2.31% -0.49% -0.23% -4.19% -4.56% 2.06% 1.90% -1.52% -2.71% -3.15% -4.97% 4.91% 6.83% 2.36% 3.40% -0.18% -0.29% -0.09% 0.17% -0.78% -0.89% 1.61% 1.10% 0.11% -0.54% 0.24% -0.17% -2.51% -2.92% 3.48% 3.94% -0.50% -0.48% -1.16% -1.24% -2.42% -2.59% 1.46% 1.92% 3.63% 3.54% -0.40% -0.21% -0.27% -0.89% 2.99% 3.41% -0.72% -1.00% 1.92% 1.51% 0.87% 0.91% 1.41% 0.63%
IHSG 0.60% 1.66% -1.99% -0.84% -1.39% -0.09% -0.96% 1.26% 3.02% 4.78% 0.40% 3.39% -0.90% 1.48% 1.70% 1.84% -1.71% 0.62% 0.51% -3.58% -1.91% 3.01% 4.57% -0.02% -0.21% 0.49% -1.77% 1.90% 0.53% 0.73% 4.26% 0.00% 0.61% 1.08% 2.27% -1.07% 1.78% 0.74% -0.91% 0.06% -1.01% -1.91% -0.27% -3.65% 2.02% -0.78% -3.07% 4.25% 2.43% -0.19% -0.32% -0.34% 1.63% 0.28% 0.46% -1.94% 2.37% 0.03% -1.00% -2.08% 1.80% 3.24% -0.25% -0.55% 1.91% -0.98% 1.65% 1.15% 1.07%
SBI 1 BLN 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.015% 0.015% 0.015% 0.015% 0.015% 0.016% 0.016% 0.016% 0.016% 0.016% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015%
96
Lanjutan Lampiran 5. Date 7/28/2009 7/29/2009 7/30/2009 7/31/2009 8/3/2009 8/4/2009 8/5/2009 8/6/2009 8/7/2009 8/10/2009 8/11/2009 8/12/2009 8/13/2009 8/14/2009 8/18/2009 8/19/2009 8/20/2009 8/21/2009 8/24/2009 8/25/2009 8/26/2009 8/27/2009 8/28/2009 8/31/2009 9/1/2009 9/2/2009 9/3/2009 9/4/2009 9/7/2009 9/8/2009 9/9/2009 9/10/2009 9/11/2009 9/14/2009 9/15/2009 9/16/2009 9/17/2009 9/24/2009 9/25/2009 9/28/2009 9/29/2009 9/30/2009 10/1/2009 10/2/2009 10/5/2009 10/6/2009 10/7/2009 10/8/2009 10/9/2009 10/12/2009 10/13/2009 10/14/2009 10/15/2009 10/16/2009 10/19/2009 10/20/2009 10/21/2009 10/22/2009 10/23/2009 10/26/2009 10/27/2009 10/28/2009 10/29/2009 10/30/2009 11/2/2009 11/3/2009 11/4/2009 11/5/2009 11/6/2009
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 1.50% 1.47% 1.53% 1.73% 1.68% 1.85% 1.02% -0.63% -0.70% -0.62% -0.47% -0.37% -0.31% -0.65% 4.02% 4.20% 4.09% 3.81% 4.10% 3.99% 4.48% 1.96% 1.79% 1.94% 1.47% 1.55% 1.52% 2.13% 0.63% 0.42% 0.66% 0.58% 0.66% 0.70% 0.49% 0.85% 0.84% 1.00% 0.95% 0.85% 0.74% 0.98% -2.46% -2.53% -2.28% -2.20% -2.53% -2.60% -2.08% 1.93% 1.84% 2.11% 1.74% 1.71% 1.48% 2.05% -0.44% -0.31% 0.00% -0.54% -0.57% -0.45% -0.69% 1.52% 1.59% 0.94% 1.55% 1.43% 1.69% 1.73% 0.03% -0.28% 0.66% 0.67% 0.58% 0.59% 0.83% -2.19% -2.04% -2.37% -2.18% -2.06% -2.16% -2.33% 2.45% 2.45% 2.63% 2.34% 2.29% 2.41% 1.77% -0.43% -0.37% -0.46% -0.50% -0.46% -0.48% -0.30% -2.06% -1.86% -2.16% -2.07% -2.20% -2.21% -1.76% -2.71% -2.91% -3.16% -2.99% -2.75% -2.81% -3.15% 2.44% 2.39% 2.46% 2.29% 2.35% 2.44% 2.09% 0.35% 0.24% 0.34% 0.31% 0.47% 0.62% 0.20% 2.35% 2.17% 2.35% 2.21% 2.69% 2.39% 2.15% 0.11% 0.12% 0.10% 0.11% 0.14% 0.15% 0.16% -0.16% -0.08% -0.27% -0.25% -0.21% -0.14% -0.25% -1.16% -0.94% -1.30% -1.16% -1.27% -0.97% -1.21% 0.81% 0.68% 0.87% 0.88% 0.73% 0.85% 0.78% -1.15% -0.96% -1.36% -1.37% -1.30% -1.38% -1.38% -1.01% -0.85% -1.06% -0.94% -1.06% -1.16% -0.75% -1.59% -1.59% -1.72% -1.77% -1.90% -1.59% -1.80% 1.50% 1.17% 1.96% 1.69% 1.52% 1.75% 1.51% 0.08% 0.33% -0.08% -0.06% 0.00% -0.13% -0.08% 0.81% 0.68% 0.58% 0.72% 0.63% 0.69% 0.79% 1.43% 1.23% 1.65% 1.50% 1.59% 1.70% 1.37% 0.76% 0.83% 0.51% 0.54% 0.72% 0.93% 0.22% 1.33% 1.22% 1.38% 1.22% 1.36% 1.29% 1.11% 0.35% 0.27% 0.24% 0.26% 0.10% 0.10% 0.13% -1.37% -1.31% -1.44% -1.31% -1.36% -1.56% -1.32% 1.88% 1.71% 1.79% 1.74% 1.80% 1.43% 1.58% 0.87% 0.56% 1.03% 0.86% 0.79% 0.87% 0.69% 0.71% 1.01% 0.63% 0.57% 0.71% 1.05% 0.74% 0.60% 0.74% 0.19% 0.26% 0.23% 0.36% 0.45% -1.02% -1.06% -0.93% -0.90% -0.76% -0.96% -0.89% -2.39% -2.52% -2.16% -2.10% -2.37% -2.32% -2.20% 2.32% 2.39% 2.22% 2.18% 2.36% 2.47% 2.23% 1.46% 1.77% 1.15% 1.14% 1.38% 1.43% 1.35% 0.21% 0.21% 0.31% 0.27% 0.13% 0.09% 0.10% 0.06% -0.01% 0.19% 0.00% -0.07% 0.20% 0.11% -0.05% -0.16% 0.32% 0.14% -0.07% 0.17% 0.12% 2.35% 2.27% 1.93% 2.07% 2.35% 2.48% 1.95% -0.40% -0.80% -0.46% -0.23% -0.17% -0.38% -0.48% -1.30% -1.33% -1.19% -1.22% -1.32% -0.94% -1.28% -0.33% -0.10% -0.38% -0.52% -0.62% -0.70% -0.35% -0.64% -0.49% -0.72% -0.68% -0.67% -0.67% -0.74% 0.49% 0.43% 0.42% 0.51% 0.37% 0.40% 0.60% 1.77% 1.49% 2.00% 1.82% 1.88% 1.84% 1.71% 0.49% 0.56% 0.36% 0.43% 0.40% 0.30% 0.19% -0.04% 0.05% -0.07% -0.16% -0.15% -0.24% -0.05% 0.27% -0.02% 0.29% 0.34% 0.41% 0.26% 0.40% -0.86% -0.54% -0.98% -0.89% -1.05% -0.66% -1.03% -1.12% -0.98% -1.15% -1.09% -1.01% -1.24% -0.97% -1.86% -1.92% -1.92% -1.77% -1.82% -1.84% -1.86% 1.67% 1.50% 1.71% 1.64% 1.81% 1.81% 1.57% 0.21% 0.24% 0.14% 0.13% -0.04% -0.03% 0.04% -1.73% -1.69% -1.94% -1.81% -1.71% -1.87% -1.93% -2.91% -2.88% -3.41% -3.21% -3.13% -3.18% -3.18% -0.54% -0.36% -0.11% -0.25% -0.48% -0.28% -0.27% 1.36% 1.36% 1.23% 1.13% 1.27% 1.41% 0.75% 0.16% 0.22% 0.23% 0.25% -0.13% 0.08% 0.26% -1.59% -1.25% -1.85% -1.78% -1.63% -1.37% -1.74% 1.41% 0.96% 2.01% 1.71% 1.68% 1.42% 1.60% -0.27% 0.03% -0.30% -0.24% -0.26% -0.05% -0.14% 1.55% 2.27% 1.38% 1.45% 1.30% 1.52% 1.30%
8 9 Danareksa TRIM Kapital Mawar 1.55% 2.01% -0.77% -0.96% 4.00% 4.68% 2.07% 2.48% 0.70% 0.16% 1.13% 1.11% -2.14% -2.19% 2.52% 2.85% -1.11% -1.10% 1.68% 2.07% 1.21% 0.00% -2.43% -1.42% 3.09% 3.97% -0.48% -0.47% -2.33% -2.55% -3.47% -4.70% 2.38% 3.18% 0.00% -0.01% 2.57% 3.85% 0.04% -0.01% -0.34% -0.13% -1.49% -1.80% 0.78% 0.51% -1.68% -2.35% -0.94% -1.14% -1.75% -2.21% 1.99% 2.59% 0.00% -0.54% 0.59% 0.53% 2.18% 2.84% -0.04% 0.24% 1.23% 1.46% 0.43% 0.22% -1.07% -2.22% 2.05% 2.47% 1.40% 1.56% -0.17% 0.33% 0.22% -0.53% -0.79% -0.53% -2.35% -2.31% 1.78% 2.29% 0.99% 1.19% 0.04% -0.24% 0.04% -0.40% -0.01% 0.48% 1.62% 1.91% -0.24% -0.30% -1.00% -1.19% -0.31% -0.43% -0.67% -0.82% 0.28% 0.12% 2.14% 2.17% 0.24% 0.10% 0.01% -0.25% 0.47% 0.49% -1.36% -1.39% -0.94% -0.72% -1.76% -2.02% 1.50% 1.58% -0.01% 0.05% -2.09% -1.91% -3.60% -4.26% -0.24% 0.15% 0.86% 0.81% 0.00% 0.18% -2.00% -2.31% 2.40% 2.19% -0.68% -0.73% 0.72% 1.94%
IHSG 1.27% -0.50% 3.25% 1.09% 0.67% 0.91% -1.82% 1.85% -0.46% 1.72% 0.41% -2.16% 2.09% -0.40% -2.09% -2.53% 2.23% 0.23% 1.80% 0.20% -0.02% -1.01% 0.90% -1.50% -0.62% -1.76% 1.59% 0.02% 0.76% 1.32% 0.51% 1.20% 0.17% -1.38% 1.57% 0.80% 0.72% 0.48% -0.98% -1.91% 1.92% 0.97% 0.42% 0.08% 0.02% 1.92% -0.58% -1.15% -0.41% -0.72% 0.62% 1.61% 0.15% 0.02% 0.20% -0.74% -1.02% -1.76% 1.43% -0.01% -1.72% -2.88% -0.48% 1.01% 0.17% -1.58% 1.62% -0.20% 1.18%
SBI 1 BLN 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014%
97
Lanjutan Lampiran 5. Date 11/9/2009 11/10/2009 11/11/2009 11/12/2009 11/13/2009 11/16/2009 11/17/2009 11/18/2009 11/19/2009 11/20/2009 11/23/2009 11/24/2009 11/25/2009 11/26/2009 11/30/2009 12/1/2009 12/2/2009 12/3/2009 12/4/2009 12/7/2009 12/8/2009 12/9/2009 12/10/2009 12/11/2009 12/14/2009 12/15/2009 12/16/2009 12/17/2009 12/21/2009 12/22/2009 12/23/2009 12/28/2009 12/29/2009 12/30/2009
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 0.74% 0.81% 0.38% 0.47% 0.61% 0.63% 0.42% -1.00% -1.11% -1.25% -1.09% -1.10% -0.96% -0.93% 0.99% 0.80% 1.04% 0.91% 0.94% 0.48% 0.88% 0.73% 0.60% 0.79% 0.68% 0.79% 0.73% 0.66% 0.18% 0.13% 0.33% 0.36% 0.18% 0.18% 0.34% 2.07% 1.66% 2.10% 1.97% 2.09% 1.89% 1.91% 0.19% 0.09% 0.13% 0.25% 0.37% 0.14% 0.18% 0.41% 0.34% 0.42% 0.48% 0.40% 0.25% 0.36% -0.79% -0.78% -0.82% -0.79% -1.02% -0.62% -0.73% 0.78% 0.43% 0.77% 0.68% 0.74% 0.33% 0.67% -0.32% -0.11% -0.24% -0.17% -0.07% -0.27% -0.33% -0.48% -0.66% -0.46% -0.43% -0.39% -0.35% -0.47% -0.71% -0.77% -0.61% -0.53% -0.45% -0.41% -0.45% -3.16% -3.22% -3.07% -2.92% -2.99% -2.71% -2.99% 1.20% 1.40% 0.91% 0.86% 1.16% 1.20% 0.73% 1.63% 1.46% 1.78% 1.77% 1.53% 1.26% 1.79% 0.82% 0.94% 0.94% 0.89% 0.70% 0.93% 0.87% 1.24% 0.98% 1.23% 1.28% 1.35% 1.26% 1.23% 0.53% 0.55% 0.55% 0.60% 0.80% 0.68% 0.54% -1.16% -1.25% -1.20% -1.15% -0.97% -0.89% -1.22% 0.22% 0.09% 0.07% 0.09% 0.12% 0.21% 0.08% 0.00% 0.44% -0.07% 0.01% -0.26% -0.32% -0.18% 0.30% 0.50% 0.15% 0.14% 0.08% 0.30% 0.21% 1.38% 1.45% 1.24% 1.28% 1.30% 1.23% 1.06% -0.69% -0.70% -0.44% -0.41% -0.69% -0.31% -0.31% -0.49% -0.59% -0.56% -0.54% -0.49% -0.40% -0.55% 1.25% 1.17% 1.17% 1.12% 1.32% 1.31% 1.38% -0.73% -0.66% -0.77% -0.75% -0.55% -0.55% -0.61% -3.58% -3.90% -3.54% -3.48% -3.33% -3.40% -3.53% 1.80% 1.79% 1.51% 1.44% 1.19% 1.17% 1.46% 0.43% 0.17% 0.28% 0.29% 0.35% 0.41% 0.26% 1.52% 1.42% 1.73% 1.56% 1.80% 1.20% 1.56% 0.32% 0.37% 0.33% 0.25% 0.15% -0.01% 0.32% 0.44% 0.66% 0.47% 0.53% 0.41% 0.62% 0.45%
Bahana Dana Manulife Dana Batavia Dana Schroder Dana Schroder Dana Fortis Ekuitas Fortis Pesona Prima Saham Saham Prestasi Plus Istimewa 0.67% -0.04% 0.30% -0.05% -0.92% 0.31% -3.38% -4.17% -4.34% -3.75% -3.27% -2.62% -3.89% -3.19% 11.19% 11.56% 11.00% 10.82% 12.15% 12.58% 10.84% 17.51% 16.48% 22.97% 20.03% 23.36% 18.46% 27.50% 10.53% 11.79% 16.78% 12.96% 13.51% 12.88% 17.58% 7.38% 8.10% 5.96% 7.07% 6.10% 5.41% 7.35% 17.64% 17.77% 16.72% 16.35% 15.54% 16.87% 16.32% 0.73% 0.47% 0.77% 0.36% 0.55% 0.84% 0.09% 6.73% 6.58% 5.94% 5.58% 5.73% 6.32% 5.14% -2.88% -3.16% -3.42% -3.34% -3.68% -3.06% -4.60% 2.10% 1.86% 1.90% 2.10% 2.23% 2.11% 1.52% 5.23% 4.89% 4.88% 4.90% 4.80% 4.71% 4.79%
Date January-09 February-09 March-09 April-09 May-09 June-09 July-09 August-09 September-09 October-09 November-09 December-09 Average Return Standard Deviasi Beta SHARPE JENSEN 2009
8 9 Danareksa TRIM Kapital Mawar 0.32% 0.24% -1.31% -1.55% 1.84% 1.93% 0.19% -0.19% 0.36% 0.64% 2.69% 1.76% 0.37% 0.16% 0.60% 0.04% -0.93% -1.14% 1.41% 1.25% -0.22% -0.22% -0.61% -0.85% -0.45% -0.95% -3.33% -3.45% 0.31% 0.52% 2.53% 2.05% 0.96% 0.99% 1.53% 1.41% 0.25% 0.35% -1.47% -1.40% -0.06% -0.32% 0.03% 0.65% -0.30% -0.05% 1.00% 1.07% -0.74% -0.54% -0.77% -0.64% 1.07% 1.10% -0.96% -0.75% -3.61% -3.79% 1.61% 1.63% 0.32% 0.31% 1.91% 1.80% 0.54% 0.74% 0.00% 0.26%
Danareksa Mawar 0.09% -1.71% 7.89% 21.27% 13.96% 5.70% 16.61% 0.65% 5.76% -5.04% 1.69% 3.86%
TRIM Kapital
IHSG
SBI 1 BLN
0.47% -1.02% 0.92% 0.68% 0.27% 1.73% 0.21% 0.42% -0.62% 0.75% -0.24% -0.38% -0.42% -2.76% 0.93% 1.52% 0.78% 1.15% 0.46% -1.11% 0.01% -0.10% 0.21% 1.31% -0.50% -0.46% 1.11% -0.51% -3.12% 1.49% 0.29% 1.41% 0.37% 0.61%
IHSG
0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014%
SBI 1 BLN
0.42% -3.55% 10.86% 25.33% 18.06% 3.19% 15.13% 0.95% 6.25% -6.07% -0.55% 4.88%
-1.38% -3.49% 11.21% 18.82% 11.06% 6.01% 13.92% 1.00% 5.37% -3.99% 2.12% 4.91%
0.41% 0.39% 0.37% 0.34% 0.32% 0.34% 0.32% 0.29% 0.26% 0.32% 0.29% 0.27%
6.05% 0.07212 1.02 0.794221056 0.005
6.00% 0.07348 1.01 0.771482104 0.005
6.67% 0.08531 1.09 0.743687594 0.007
6.13% 0.07596 1.07 0.763660004 0.003
6.40% 0.08237 1.14 0.736792746 0.002
6.13% 0.07508 1.02 0.772715318 0.005
6.66% 0.09837 1.11 0.644137231 0.006
5.89% 0.07866 1.15 0.707572341 -0.003
6.24% 0.09395 1.32 0.629514826 -0.008
5.46% 0.07151 0.99 0.718435896 0.001
0.33% 0.00046 0.00 0 0.000
72.66%
71.96%
80.06%
73.53%
76.75%
73.54%
79.96%
70.72%
74.90%
65.57%
3.92%
98
Lampiran 6. Perhitungan selama tahun 2005-2009 Date 1/3/2005 1/4/2005 1/5/2005 1/6/2005 1/7/2005 1/10/2005 1/11/2005 1/12/2005 1/13/2005 1/14/2005 1/17/2005 1/18/2005 1/19/2005 1/20/2005 1/24/2005 1/25/2005 1/26/2005 1/27/2005 1/28/2005 1/31/2005 2/1/2005 2/2/2005 2/3/2005 2/4/2005 2/7/2005 2/8/2005 2/11/2005 2/14/2005 2/15/2005 2/16/2005 2/17/2005 2/18/2005 2/21/2005 2/22/2005 2/23/2005 2/24/2005 2/25/2005 2/28/2005 3/1/2005 3/2/2005 3/3/2005 3/4/2005 3/7/2005 3/8/2005 3/9/2005 3/10/2005 3/14/2005 3/15/2005 3/16/2005 3/17/2005 3/18/2005 3/21/2005 3/22/2005 3/23/2005 3/24/2005 3/28/2005 3/29/2005 3/30/2005 3/31/2005 4/1/2005 4/4/2005 4/5/2005 4/6/2005 4/7/2005 4/8/2005 4/11/2005 4/12/2005 4/13/2005 4/14/2005
1 2 3 4 5 6 7 Bahana Dana Manulife Dana Batavia Dana Schroder Dana Schroder Dana Fortis Ekuitas Fortis Pesona Prima Saham Saham Prestasi Plus Istimewa 0.31% 0.05% 0.17% 0.76% -0.15% 0.10% 1.00% 1.67% 1.65% 2.24% 2.09% 1.89% 2.26% 2.05% -0.41% -0.91% -0.72% -0.24% 0.17% -0.51% -0.57% 1.24% 1.29% 1.60% 1.52% 1.43% 1.29% 1.07% -0.36% 0.50% -0.67% 0.18% 0.21% -0.04% 0.26% -1.32% -0.65% -1.44% -1.42% -1.41% -1.19% -1.04% -0.48% 0.02% -0.72% -0.76% -0.92% -0.92% -0.34% -0.27% 0.40% -0.31% -0.22% -0.33% -0.12% -0.11% 0.99% 0.80% 1.08% 1.31% 1.39% 1.45% 1.10% 0.13% -0.53% 0.14% -0.01% 0.02% 0.09% 0.00% 0.42% 0.08% 0.56% 0.49% 0.49% 0.59% 0.42% -0.74% -0.27% -1.12% -0.60% -0.40% -0.86% -0.59% 0.84% 2.61% 1.12% 1.06% 0.98% 1.16% 1.04% 1.00% 0.23% 1.02% 1.02% 0.75% 0.56% 0.63% -0.52% -0.11% -0.34% -0.28% -0.34% -0.66% -0.31% -0.54% -0.22% -0.78% -0.27% -0.27% -0.38% -0.32% 1.33% 0.46% 1.52% 0.90% 1.21% 0.95% 1.36% 0.93% 0.54% 1.33% 0.51% 0.63% 0.30% 0.84% 0.36% 0.00% 0.68% 0.14% -0.20% 0.34% 0.20% -0.22% -0.06% -0.19% -0.20% -0.04% -0.09% -0.07% 0.57% 0.00% 0.75% 0.54% 0.37% 0.68% 0.71% 0.57% 0.00% 0.43% 0.79% 0.70% 0.47% 0.44% -0.40% 0.00% -0.96% -0.47% -0.49% -0.95% -0.31% 0.13% 0.85% 0.39% 0.22% 0.09% 0.43% 0.09% -0.44% -0.05% -0.53% -0.50% -0.57% -0.59% -0.27% -0.51% -0.02% -0.30% -0.48% -0.52% -0.43% -0.23% 0.47% 0.49% 0.66% 0.48% 0.53% 0.59% 0.21% 0.55% 0.36% 0.55% 0.38% 0.80% 0.47% 0.19% 1.80% 0.63% 2.38% 1.47% 1.43% 1.57% 1.29% 0.25% 0.35% 0.54% 0.65% 0.40% 0.77% 0.36% 0.83% 0.91% 1.19% 0.78% 1.00% 1.39% 0.73% 0.47% 0.69% 1.00% 0.83% 0.34% 0.87% 0.50% 0.02% -0.06% 0.14% 0.26% 0.01% 0.45% 0.32% 0.23% 0.36% 0.05% 0.33% 0.50% 0.23% 0.46% 0.62% 0.88% 0.60% 0.14% 0.54% 0.40% 0.40% 0.41% 0.58% 0.93% 0.00% 0.37% 0.53% 0.17% -1.58% -1.61% -2.10% -1.67% -1.48% -1.83% -1.52% -0.96% -0.55% -1.13% -0.95% -0.95% -0.84% -0.90% 1.48% 0.84% 1.86% 1.81% 1.11% 1.95% 1.50% -1.00% -0.86% -1.09% -0.90% -0.78% -0.92% -0.72% 0.89% 1.34% 0.76% 0.67% 0.70% 0.60% 0.90% 1.04% 0.80% 1.23% 0.80% 0.73% 0.88% 0.72% 0.34% 0.53% 0.35% 0.36% 0.49% 0.63% 0.15% 0.55% 0.52% 0.80% 0.44% 0.79% 0.91% 0.63% 0.48% 0.52% 0.73% 0.51% 0.66% 0.30% 0.47% -0.66% -0.45% -0.60% -0.58% -0.77% -0.67% -0.45% 2.11% 1.17% 2.26% 1.41% 1.89% 1.50% 2.00% -0.22% 0.47% 0.00% -0.63% -0.36% 0.28% -0.49% 1.84% 2.03% 1.87% 1.26% 1.72% 1.83% 1.79% -0.58% -0.65% -0.70% -0.03% -0.15% -0.52% -0.22% 1.28% 0.74% 0.31% 0.84% 1.13% 0.59% 0.89% 0.30% 0.12% 0.24% 0.10% 0.15% 0.20% 0.00% -0.03% -0.16% -0.29% 0.18% -0.20% -0.14% -0.21% -1.01% -0.94% -1.72% -0.94% -0.62% -1.04% -1.06% -2.26% -2.64% -2.82% -2.34% -2.57% -2.50% -2.40% -1.14% -1.25% -0.89% -1.18% -1.23% -0.88% -1.27% -2.09% -2.10% -2.69% -2.47% -2.48% -2.52% -2.97% -0.62% -0.48% -1.17% -0.66% -0.64% -0.94% -0.55% 1.68% 1.61% 2.12% 1.55% 1.51% 2.09% 1.47% 1.05% 1.25% 1.68% 1.33% 1.18% 1.54% 1.82% 0.55% 0.23% 0.52% 0.43% 0.37% 0.42% 0.42% -0.39% -0.32% -0.69% -0.26% -0.51% -0.41% -0.16% 0.28% 0.35% 0.91% 0.61% 0.34% 0.76% 0.65% 0.62% 0.75% 0.95% 0.88% 0.75% 0.62% 0.66% -0.40% -0.26% 0.18% -0.35% -0.57% -0.14% 0.10% -0.26% -0.32% -0.34% -0.47% -0.26% -0.25% -0.25% 0.29% 0.40% 0.47% 0.21% 0.20% 0.29% 0.25% 0.24% 0.48% 0.61% 0.39% 0.44% 0.55% 0.47% -0.63% -0.55% -0.78% -0.65% -0.69% -0.83% -0.87%
8 Danareksa Mawar -0.46% 1.64% -0.22% 0.87% -0.59% -1.28% -0.23% -0.10% 1.28% -0.08% 0.64% -0.73% 1.05% 0.77% 0.00% -0.40% 1.13% 1.21% 0.20% -0.42% 0.63% 0.38% -0.31% -0.07% -0.55% -0.56% 0.42% 0.69% 1.83% 0.03% 1.01% 0.18% -0.08% 0.48% 0.54% 0.31% -1.29% -0.73% 1.27% -0.94% 0.77% 1.16% 0.39% 0.49% -0.16% -0.74% 1.14% -0.07% 1.36% -0.35% 0.76% 0.18% -0.16% -1.10% -1.99% -0.75% -1.92% -0.29% 1.55% 1.38% 0.38% -0.32% 0.21% 0.46% -0.46% -0.17% 0.25% 0.70% -0.65%
9 TRIM Kapital 0.69% 2.14% -0.42% 1.77% 2.05% -4.38% -0.55% -0.35% 1.37% -0.13% 0.73% -0.73% 1.58% 0.90% -0.64% -0.46% 1.17% 0.47% 0.43% -0.16% 0.71% 0.84% -0.41% 0.17% -0.51% -0.50% 0.44% 0.78% 1.75% 0.58% 0.80% 1.22% 0.41% 0.36% 0.41% -0.74% -0.83% 1.82% -0.90% -6.21% -0.05% 5.32% -1.05% 3.27% -4.72% -5.04% 8.71% 0.47% 4.76% -0.78% 1.09% 0.21% -0.30% -1.05% -2.55% -1.59% -2.60% -0.73% 1.70% 1.52% 0.57% -0.35% 0.60% 0.90% 0.01% -0.34% 0.51% 0.38% -0.89%
IHSG 0.06% 1.77% -0.31% 1.42% 0.26% -1.65% -0.37% -0.31% 1.30% -0.03% 0.35% -0.70% 0.99% 0.77% -0.49% -0.37% 1.03% 0.72% 0.14% -0.10% 0.20% 0.51% -0.33% -0.09% -0.65% -0.48% 0.89% 0.47% 1.57% 0.59% 0.89% 0.88% 0.12% 0.56% 0.27% -0.08% -1.69% -0.88% 1.81% -0.96% 1.09% 0.77% 0.21% 0.81% 0.23% -0.78% 1.39% -0.40% 1.72% -0.32% 1.17% 0.32% 0.09% -0.91% -2.42% -1.28% -2.72% -0.48% 1.41% 1.38% 0.47% -0.33% 0.62% 0.76% -0.04% -0.47% 0.44% 0.52% -0.74%
SBI 1 BLN 0.017% 0.017% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017%
99
Lanjutan Lampiran 6 Date 4/15/2005 4/18/2005 4/19/2005 4/20/2005 4/21/2005 4/25/2005 4/26/2005 4/27/2005 4/28/2005 4/29/2005 5/2/2005 5/3/2005 5/4/2005 5/6/2005 5/9/2005 5/10/2005 5/11/2005 5/12/2005 5/13/2005 5/16/2005 5/17/2005 5/18/2005 5/19/2005 5/20/2005 5/23/2005 5/25/2005 5/26/2005 5/27/2005 5/30/2005 5/31/2005 6/1/2005 6/2/2005 6/3/2005 6/6/2005 6/7/2005 6/8/2005 6/9/2005 6/10/2005 6/13/2005 6/14/2005 6/15/2005 6/16/2005 6/17/2005 6/20/2005 6/21/2005 6/22/2005 6/23/2005 6/24/2005 6/27/2005 6/28/2005 6/29/2005 6/30/2005 7/1/2005 7/4/2005 7/5/2005 7/7/2005 7/8/2005 7/11/2005 7/12/2005 7/13/2005 7/14/2005 7/15/2005 7/18/2005 7/19/2005 7/20/2005 7/21/2005 7/22/2005 7/25/2005 7/26/2005
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham -0.90% -1.02% -1.48% -1.11% -0.94% -1.23% -1.02% -2.53% -2.87% -3.09% -2.92% -3.02% -2.98% -3.13% 0.21% 0.18% 0.25% 0.18% 0.30% 0.27% 0.35% 1.08% 0.96% 1.16% 0.83% 0.85% 1.01% 0.79% -1.84% -2.28% -1.91% -2.25% -2.00% -1.65% -1.72% -2.18% -2.21% -1.98% -2.80% -2.31% -2.41% -2.18% 1.27% 1.00% 0.83% 1.28% 1.24% 1.07% 1.44% -0.22% -0.03% 0.05% 0.40% -0.17% -0.01% 0.00% 0.01% 0.29% 0.63% 0.86% 0.08% 0.71% 0.19% -0.50% -0.77% -1.00% -0.67% -0.46% -0.66% -0.31% -0.28% 0.05% -0.07% -0.21% -0.41% -0.12% -0.12% 0.41% 0.26% 0.48% 0.59% 0.53% 0.61% 0.80% 1.66% 1.81% 1.80% 1.69% 1.63% 1.50% 1.18% 1.64% 1.67% 1.02% 1.59% 1.59% 1.19% 1.51% 0.80% 1.34% 0.71% 0.91% 0.55% 1.20% 0.92% -0.49% -0.46% -0.44% -0.62% -0.49% -0.54% -0.62% -1.15% -1.15% -1.41% -1.06% -1.07% -1.53% -1.36% 0.49% 0.43% 0.69% 0.43% 0.34% 0.59% 0.68% -0.17% -0.20% 0.04% -0.24% -0.01% -0.16% -0.12% -1.00% -0.85% -0.56% -0.81% -0.82% -0.87% -0.87% -0.61% -0.80% -0.28% -0.06% 0.29% -0.45% 0.26% 0.48% 0.10% -0.54% -0.70% -0.55% -0.03% -0.47% 1.01% 1.29% 1.18% 0.92% 0.69% 0.94% 1.06% 0.24% 0.13% -0.18% 0.16% 0.19% -0.14% -0.04% -0.26% -0.29% -0.34% -0.28% -0.25% -0.31% -0.43% 0.10% -0.13% 0.10% 0.32% 0.37% 0.24% 0.14% 0.46% 0.35% 0.74% 0.44% 0.41% 0.49% 0.65% 0.63% 0.66% 0.61% 0.68% 0.51% 0.68% 0.72% 0.29% 0.56% -0.09% 0.10% 0.12% 0.19% 0.24% 2.19% 1.88% 1.83% 2.17% 2.37% 2.40% 2.63% -0.25% 0.27% -0.18% -0.16% -0.37% -0.43% -0.50% 0.86% 1.06% 0.75% 0.57% 0.90% 0.91% 0.93% 0.37% 0.65% 0.51% 0.16% 0.01% 0.24% 0.64% 0.13% -0.03% 0.13% 0.36% 0.19% 0.15% 0.11% -0.41% -0.11% -0.25% -0.50% -0.52% -0.64% -0.34% -0.10% -0.38% 0.74% 0.03% 0.09% 0.29% 0.33% -0.03% 0.05% 0.02% 0.09% 0.13% 0.13% -0.11% -0.10% -0.37% -0.23% -0.14% -0.17% -0.07% -0.17% 0.59% 0.53% 0.64% 0.71% 0.60% 0.58% 0.26% 0.49% 0.20% 0.49% 0.65% 0.65% 0.55% 0.50% 1.30% 1.78% 2.20% 1.48% 1.27% 1.58% 1.59% 0.37% 0.40% 0.50% 0.40% 0.51% 0.67% 0.57% 1.53% 1.60% 1.93% 1.59% 1.37% 1.41% 1.35% 0.70% 0.60% 0.51% 0.63% 0.59% 0.63% 0.26% -0.68% -0.53% -0.57% -0.75% -0.65% -0.82% -0.81% 0.06% 0.01% 0.41% 0.01% -0.25% 0.14% 0.18% 0.07% -0.03% 0.20% 0.28% 0.04% 0.11% 0.23% 0.11% 0.03% -0.17% 0.04% 0.17% 0.02% -0.10% -1.22% -1.28% -1.87% -1.60% -1.43% -1.54% -1.59% 0.54% 0.62% 1.07% 0.81% 0.53% 0.80% 0.70% 0.30% 0.34% -0.10% 0.11% 0.27% 0.27% 0.04% -0.33% -0.24% -0.60% -0.15% -0.17% -0.48% -0.40% 1.15% 1.00% 1.46% 1.28% 0.99% 1.35% 1.13% 0.08% 0.07% -0.14% 0.02% -0.28% 0.09% 0.10% -0.80% -0.97% -0.52% -0.76% -0.86% -0.75% -0.73% -1.74% -1.68% -1.34% -1.57% -1.08% -1.49% -1.73% 0.36% 0.50% 0.32% 0.16% 0.18% 0.35% 0.20% 1.20% 1.13% 1.23% 1.55% 1.66% 1.27% 1.15% 0.57% 0.80% 0.56% 0.72% 0.68% 0.44% 0.45% -0.16% -0.13% -0.45% -0.07% -0.08% 0.01% -0.19% 0.41% 0.49% 0.17% 0.35% 0.52% 0.19% 0.23% -0.35% -0.46% -0.45% -0.52% -0.49% -0.43% -0.25% 0.23% 0.07% 0.76% 0.04% 0.29% 0.18% 0.27% 0.21% 0.03% 0.22% 0.33% 0.31% 0.30% 0.11% 0.95% 0.79% 1.44% 0.50% 0.18% 1.31% 1.24% 1.42% 1.32% 1.85% 1.61% 1.71% 1.80% 1.41% 0.90% 1.21% 0.50% 0.94% 0.73% 0.81% 0.94% -0.45% -0.10% -0.91% -0.16% -0.45% -0.44% -0.53% 1.09% 0.93% 1.70% 1.08% 1.09% 1.40% 1.28%
8 Danareksa Mawar -0.92% -2.62% 0.68% 0.92% -1.63% -2.28% 0.97% 0.19% 0.64% -0.25% -0.12% 0.35% 1.05% 1.05% 0.87% -0.60% -1.42% 0.37% -0.07% -0.79% 0.26% -0.60% 0.52% 0.14% -0.22% 0.33% 0.37% 0.31% 0.14% 3.04% -1.12% 0.68% 0.00% 0.50% -0.56% 0.24% -0.06% 0.00% 0.29% 0.53% 1.35% 0.42% 1.05% 0.62% -0.93% 0.17% 0.24% -0.25% -1.30% 0.70% 0.38% -0.39% 1.29% 0.43% -0.84% -1.51% 0.29% 1.02% 0.48% -0.16% 0.31% -0.21% 0.12% 0.33% 1.00% 1.48% 0.85% -0.53% 1.09%
9 TRIM Kapital -1.17% -3.03% 0.45% 1.18% -1.92% -2.98% 1.95% 0.49% 0.64% -0.81% -0.26% 0.83% 1.42% 1.98% 0.97% -0.55% -1.40% 0.95% -0.51% -0.91% -0.06% -0.33% 1.00% 0.19% -0.32% 0.12% 0.57% 1.06% 0.54% 2.17% 0.17% 1.08% 0.42% -0.36% 0.03% 0.75% 0.03% -0.28% 0.66% 0.70% 1.81% 0.66% 1.78% 0.52% -0.45% 0.14% 0.00% 0.16% -2.05% 0.81% -0.04% -0.30% 1.49% -0.13% -0.95% -1.64% 0.15% 1.48% 0.61% 0.18% 0.39% -0.44% 0.46% 0.40% 1.07% 1.59% 1.02% -0.56% 1.19%
IHSG -1.08% -3.31% 0.24% 0.78% -2.16% -2.67% 1.17% 0.04% 0.59% -0.84% -0.30% 0.68% 1.56% 1.78% 1.12% -0.84% -1.31% 0.64% -0.43% -0.99% -0.29% -0.53% 0.50% 0.25% -0.28% 0.37% 0.51% 0.68% 0.14% 2.37% -0.48% 0.79% 0.10% 0.40% -0.37% 0.25% -0.12% 0.25% 0.36% 0.46% 1.24% 0.55% 1.43% 0.52% -1.25% 0.12% 0.24% -0.15% -1.39% 0.71% -0.09% -0.40% 1.48% -0.01% -0.68% -2.01% 0.19% 1.16% 0.50% 0.33% 0.33% -0.45% -0.27% 0.32% 0.76% 1.48% 1.27% -0.21% 0.71%
SBI 1 BLN 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019%
100
Lanjutan Lampiran 6. Date 7/27/2005 7/28/2005 7/29/2005 8/1/2005 8/2/2005 8/3/2005 8/4/2005 8/5/2005 8/8/2005 8/9/2005 8/10/2005 8/11/2005 8/12/2005 8/15/2005 8/16/2005 8/18/2005 8/19/2005 8/22/2005 8/23/2005 8/24/2005 8/25/2005 8/26/2005 8/30/2005 8/31/2005 9/1/2005 9/5/2005 9/6/2005 9/7/2005 9/8/2005 9/9/2005 9/12/2005 9/13/2005 9/14/2005 9/15/2005 9/16/2005 9/19/2005 9/20/2005 9/21/2005 9/22/2005 9/23/2005 9/26/2005 9/27/2005 9/28/2005 9/29/2005 9/30/2005 10/3/2005 10/4/2005 10/5/2005 10/6/2005 10/7/2005 10/10/2005 10/11/2005 10/12/2005 10/13/2005 10/14/2005 10/17/2005 10/18/2005 10/19/2005 10/20/2005 10/21/2005 10/24/2005 10/25/2005 10/26/2005 10/27/2005 10/28/2005 10/31/2005 11/1/2005 11/9/2005 11/10/2005
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham -0.20% -0.17% 0.37% 0.01% 0.29% 0.08% -0.09% 0.68% 0.87% 0.10% 0.38% 0.19% 0.33% 0.80% 0.23% 0.33% 0.04% 0.12% -0.04% 0.32% 0.21% -0.07% -0.23% -0.48% 0.01% 0.17% -0.07% -0.20% 0.48% 0.48% 0.56% 0.77% 0.81% 0.66% 0.48% 0.01% -0.35% 0.33% 0.12% 0.31% 0.26% 0.03% -0.42% -0.50% 0.19% -0.34% -0.43% -0.23% -0.37% -1.27% -1.08% -0.60% -0.94% -1.08% -0.78% -1.13% -1.02% -0.98% -0.96% -1.03% -0.95% -0.96% -1.16% 0.11% 0.24% 0.04% -0.01% -0.30% -0.11% 0.11% 1.02% 1.01% 0.71% 1.09% 0.81% 1.00% 1.02% 0.00% -0.42% 0.00% -0.40% -0.48% 0.00% 0.02% -1.60% -1.39% -1.43% -0.96% -1.07% -1.38% -0.89% -2.67% -2.35% -3.20% -2.99% -2.85% -2.87% -3.12% -0.45% -0.35% -0.67% -0.35% -0.51% -0.47% -0.85% -0.77% -1.06% -0.78% -0.78% -0.78% -0.76% -0.74% -1.47% -1.44% -1.57% -1.26% -1.38% -1.08% -1.14% -1.06% -1.19% -1.14% -1.24% -1.34% -1.23% -1.16% -0.89% -0.99% -0.52% -0.89% -0.33% -0.50% -0.72% -1.56% -1.23% -1.30% -2.18% -1.17% -1.64% -1.60% 1.91% 1.97% 2.18% 2.20% 1.31% 2.29% 2.20% -1.19% -1.19% -1.67% -0.95% -1.37% -1.28% -1.31% -0.74% -0.26% 4.54% -0.96% 4.31% 0.21% -1.02% 1.11% 1.13% 1.41% 1.00% 0.89% 1.10% 1.17% -0.94% -0.85% -0.65% -0.91% -1.56% -1.01% -0.98% -0.72% -0.34% -1.13% -0.56% -0.34% -0.64% -0.77% 1.46% 1.29% 0.87% 1.00% 1.29% 1.02% 0.91% 0.63% 0.45% 1.07% 0.82% 0.93% 0.63% 0.72% 1.69% 1.26% 1.49% 2.12% 0.00% 1.37% 1.46% 1.22% 0.98% 1.00% 1.52% 3.46% 1.25% 1.36% 0.59% 0.48% 0.54% 0.64% 0.19% 0.55% 0.35% -1.83% -1.84% -1.89% -1.73% -1.80% -1.31% -1.42% -2.19% -1.73% -2.32% -2.14% -1.87% -1.56% -1.81% -0.76% -0.57% -0.04% -0.68% -0.88% -0.22% -0.39% 0.23% 0.23% 0.40% 0.49% 0.77% 0.35% 0.70% 0.78% 0.52% 0.93% 0.66% 0.04% 0.77% 0.58% -0.87% -1.25% -0.83% -0.82% -0.79% -0.88% -0.98% -0.93% -1.20% -0.96% -0.98% -1.90% -0.74% -1.00% -2.44% -1.99% -2.46% -2.24% -2.33% -2.12% -1.82% -0.53% -0.57% -0.23% -0.77% -0.46% -0.35% -0.52% 2.13% 2.09% 2.14% 1.80% 1.87% 1.63% 1.56% 0.22% 0.21% 0.74% 0.49% 0.93% 0.43% 0.74% -1.19% -1.05% -1.04% -0.98% -1.02% -0.71% -0.92% 1.81% 1.90% 1.43% 1.77% 1.79% 1.41% 1.45% 2.66% 2.94% 3.11% 2.97% 2.32% 2.84% 2.70% 0.19% 0.11% 2.16% 0.59% 0.01% 1.03% 0.96% 1.52% 1.63% 3.52% 2.07% 1.40% 1.99% 1.92% -0.11% 0.36% -0.83% -0.22% -0.48% -0.29% -0.14% -1.21% -1.27% -1.58% -1.01% -1.57% -1.42% -1.16% -0.87% -0.86% 0.61% -0.04% -0.51% 0.18% 0.14% 0.67% 0.76% 0.29% 0.22% 0.23% 0.13% -0.03% -0.15% 0.04% -0.08% 0.12% 0.15% 0.10% -0.05% -0.56% -0.31% 0.00% -0.47% -0.61% 0.08% 0.11% -0.80% -1.14% -0.97% -0.56% -0.68% -0.74% -0.30% 0.56% 0.71% 0.28% 0.68% 0.33% 0.23% 0.46% -0.28% -0.30% -0.41% -0.28% -0.23% -0.29% -0.25% 0.64% 0.78% 0.14% 0.51% 0.64% 0.36% 0.47% -1.69% -1.76% -1.53% -2.02% -1.44% -1.64% -1.57% 0.05% 0.28% -0.11% 0.22% -0.05% 0.06% 0.42% 0.02% 0.16% -0.02% -0.09% -0.01% -0.31% 0.08% -0.44% -0.71% -0.45% -0.22% -0.34% -0.16% -0.37% -0.74% -0.59% -0.52% -1.01% -0.79% -0.60% -0.58% -0.11% -0.30% 0.09% -0.06% -0.09% -0.06% 0.13% 0.41% 1.69% 0.36% 0.03% 0.43% 0.21% -0.26% -0.58% -0.71% -0.33% -0.48% -0.19% -0.36% -0.47% 0.62% 0.50% 0.35% 1.87% 0.41% 0.35% 0.51% -0.18% -0.55% -0.01% -0.13% -0.01% 0.05% -0.18% -1.06% -1.01% -1.31% -1.45% -2.04% -1.31% -1.07% -0.81% -0.94% -0.76% -0.52% -0.95% -0.64% -1.30%
8 Danareksa Mawar -0.19% 0.00% 0.00% 0.79% 0.37% 0.05% -0.44% -1.01% -1.06% 0.18% 0.96% -0.39% -0.81% -2.95% -0.58% -0.63% -1.12% -1.13% -0.72% -1.74% 2.04% -1.48% -0.09% 1.07% -1.08% -0.63% 1.15% 0.65% 1.45% 1.09% 0.66% -1.78% -2.20% -0.26% 0.41% 0.87% -0.94% -0.69% -2.74% -0.46% 2.09% 0.38% -0.82% 1.66% 2.74% 1.58% 2.46% -0.69% -1.45% 0.22% 0.54% 0.05% -0.06% -0.91% 0.19% -0.35% 0.47% -1.55% -0.02% -0.08% -0.24% -0.64% 0.02% 0.40% -0.24% 0.42% 0.05% -1.33% -0.87%
9 TRIM Kapital -0.02% 0.37% 0.00% 0.04% 0.65% 0.17% -0.34% -1.14% -1.13% 0.15% 1.14% -0.35% -1.03% -3.11% -0.53% -0.62% -1.36% -1.04% -0.76% -1.52% 2.41% -1.57% 4.78% 1.60% -0.83% -1.02% 1.14% 0.97% 2.09% 1.24% 0.90% -1.99% -2.34% -0.36% 0.16% 0.81% -1.12% -1.12% -2.73% -0.62% 2.06% 0.50% -1.07% 2.10% 3.65% 1.61% 2.76% -0.53% -1.72% 0.19% 0.19% 0.30% -0.45% -0.70% 0.70% 0.03% 0.65% -2.09% 0.48% -0.05% -0.51% -0.63% -0.07% 0.50% -0.42% 0.44% -0.16% -1.46% -0.70%
IHSG 0.01% 0.72% -0.36% -0.34% 0.94% 0.24% -0.58% -0.95% -1.32% 0.36% 1.21% -0.75% -1.20% -3.09% -0.40% -1.21% -1.12% -1.07% -0.95% -2.87% 2.55% -1.22% -0.86% 0.99% -1.03% -0.32% 1.52% 0.74% 1.99% 1.67% 0.66% -1.80% -2.50% -0.73% 0.55% 0.93% -1.03% -1.09% -2.61% -0.38% 2.15% 0.29% -0.94% 1.99% 2.95% 0.38% 1.64% 0.26% -0.70% -0.16% 0.74% 0.26% -0.24% -1.13% 0.57% -0.60% 0.53% -1.82% -0.05% 0.05% -0.27% -1.02% 0.00% 0.14% -0.51% 0.75% -0.12% -1.14% -0.87%
SBI 1 BLN 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.021% 0.021% 0.021% 0.021% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.027% 0.027%
101
Lanjutan Lampiran 6. Date 11/11/2005 11/14/2005 11/15/2005 11/16/2005 11/17/2005 11/18/2005 11/21/2005 11/22/2005 11/23/2005 11/24/2005 11/25/2005 11/28/2005 11/29/2005 11/30/2005 12/1/2005 12/2/2005 12/5/2005 12/6/2005 12/7/2005 12/8/2005 12/9/2005 12/12/2005 12/13/2005 12/14/2005 12/15/2005 12/16/2005 12/19/2005 12/20/2005 12/21/2005 12/23/2005 12/27/2005 12/28/2005 12/29/2005 1/2/2006 1/3/2006 1/4/2006 1/5/2006 1/6/2006 1/9/2006 1/11/2006 1/12/2006 1/13/2006 1/16/2006 1/17/2006 1/18/2006 1/19/2006 1/20/2006 1/23/2006 1/24/2006 1/25/2006 1/26/2006 1/27/2006 1/30/2006 2/1/2006 2/2/2006 2/3/2006 2/6/2006 2/7/2006 2/8/2006 2/9/2006 2/10/2006 2/13/2006 2/14/2006 2/15/2006 2/16/2006 2/17/2006 2/20/2006 2/21/2006 2/22/2006
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham -1.27% -1.88% -1.75% -1.12% -1.59% -1.45% -1.22% -0.81% -0.46% -1.19% -1.02% -1.08% -0.86% -0.94% 0.62% 0.56% 0.28% 0.54% 0.24% 0.39% 0.20% 1.01% 0.97% 0.72% 0.36% 0.20% 0.28% 0.14% 0.64% 0.67% 0.27% 0.39% 0.88% 0.20% 0.42% 1.88% 1.87% 2.09% 1.80% 1.68% 1.65% 2.37% 0.58% 0.72% 0.92% 0.69% 0.75% 0.47% 0.76% 0.57% 0.73% 0.55% 0.60% 0.58% 0.61% 1.35% -0.38% -0.50% -0.57% -0.05% -0.75% -0.19% -0.20% 1.17% 1.33% 2.00% 1.71% 1.04% 1.44% 1.27% -0.17% -0.31% -0.10% -0.48% -0.44% -0.23% -0.62% 0.74% 0.54% 0.17% 0.21% 0.38% 0.40% 0.34% -0.10% -0.39% 0.70% 0.14% 0.18% 0.56% 0.80% 0.90% 0.65% 1.65% 1.75% 0.91% 1.67% 2.14% 0.12% 0.23% -0.70% -0.14% 0.23% -0.46% -0.37% 1.99% 2.01% 2.38% 2.19% 2.04% 1.87% 2.35% -0.01% -0.25% 0.02% -0.34% -0.24% 1.56% -0.33% 0.41% 0.55% 0.28% 0.30% 0.36% -0.14% -0.31% 2.14% 2.31% 1.83% 2.27% 1.85% 1.58% 1.20% 0.47% 0.20% 0.36% 0.78% 0.32% 0.54% 0.29% -0.25% -0.07% 3.51% 0.15% 0.61% 0.33% 1.53% 1.06% 1.41% 0.59% 1.08% 1.85% 1.50% 2.19% 0.45% 0.60% 0.13% 0.30% 0.25% 0.32% 0.03% -0.51% -0.51% -0.23% -0.80% -0.76% -0.53% -1.03% -1.72% -1.62% -1.57% -1.58% -1.53% -1.60% -1.57% -0.87% -0.72% -1.42% -1.17% -1.00% -1.12% -1.19% 1.68% 1.44% 1.72% 1.59% 1.64% 1.39% 1.58% 0.28% 0.22% 0.42% -0.02% 0.32% 0.28% 0.42% -0.37% -0.73% -0.43% -0.26% -0.40% -0.27% -0.27% 0.01% -0.34% -0.47% 0.14% 0.15% -0.10% 0.05% 0.23% 0.18% 0.28% 0.52% 0.70% 0.42% 0.91% 0.08% 0.16% -0.29% 0.12% 0.12% -0.02% 0.79% -0.22% -0.21% -0.14% -0.51% -0.27% -0.26% -0.14% 0.60% 0.47% 0.73% 0.72% 0.60% 0.52% 0.11% 1.19% 1.30% 0.81% 1.06% 0.93% 0.69% 0.42% 3.03% 3.01% 2.72% 2.34% 2.73% 2.13% 1.56% -0.09% -0.44% 0.43% 0.53% 0.15% 0.83% 1.37% 1.06% 0.82% 1.25% 1.14% 1.08% 1.15% 1.35% 1.75% 1.68% 1.23% 2.04% 1.71% 1.82% 1.87% 0.68% 0.70% 0.59% 1.14% 1.05% 0.90% 1.65% -0.66% -0.88% 0.24% 0.09% -0.21% 0.39% 0.73% -0.83% -0.97% -0.33% -0.01% 0.01% 0.20% 0.94% -1.33% -1.51% -1.60% -1.37% -0.80% -1.25% -1.72% -1.82% -1.68% -2.15% -2.04% -1.75% -1.70% -1.93% -1.78% -1.59% -1.28% -1.48% -1.99% -1.39% -1.13% 3.38% 3.38% 3.23% 3.37% 3.14% 2.87% 2.44% -0.45% -0.51% -0.28% -0.33% -0.32% -0.24% -0.36% -2.33% -2.36% -2.04% -1.96% -2.37% -1.79% -1.48% 0.88% 0.68% 0.86% 0.72% 0.82% 0.64% 0.56% 1.93% 1.97% 1.40% 2.25% 2.17% 1.30% 1.60% -0.34% -0.19% -0.36% 0.05% 0.70% 0.28% 0.65% 0.60% 0.79% 0.31% 0.16% 0.02% -0.05% -0.04% 0.01% -0.35% -0.04% 0.09% 0.80% 0.29% 0.46% 0.73% 1.00% 0.79% 0.70% 0.50% 0.80% 0.71% -0.05% -0.02% 0.25% 0.08% 0.32% 0.47% 0.56% -0.05% 0.02% -0.22% 0.06% 0.21% 0.11% -0.42% 0.34% 0.38% 0.22% 0.29% 0.06% 0.19% 0.35% 0.81% 0.77% 1.68% 0.94% 0.92% 1.82% 1.11% -1.58% -1.73% -1.61% -1.40% -1.74% -1.82% -1.08% 0.69% 0.58% 1.02% 0.96% 0.64% 0.81% 1.30% 0.18% 0.06% 0.60% 0.81% 0.33% 1.04% 1.96% -0.36% 0.08% -0.02% -0.14% 0.11% 0.47% 0.76% -1.72% -1.58% -2.31% -1.73% -2.33% -1.99% -1.32% 0.69% 0.44% 0.73% 1.11% 0.89% 0.72% 0.73% 0.22% 0.09% 0.29% 0.13% -0.13% -0.17% -0.39% 0.56% 0.26% 0.26% 0.73% 0.24% -0.06% 0.13% 0.16% 0.23% 0.63% 0.50% 0.69% 0.44% 0.50% -1.02% -1.17% -0.89% -0.85% -0.57% -0.94% -0.70% -0.48% -0.31% -0.25% -0.16% -0.33% -0.28% 0.14%
8 Danareksa Mawar -1.61% -1.29% 0.02% 0.40% 0.62% 2.09% 0.76% 0.49% -0.63% 1.48% -0.19% 0.53% 0.51% 0.97% -0.17% 2.36% -0.13% 0.56% 1.82% 0.60% 0.12% 1.11% 0.14% -0.41% -1.80% -1.00% 1.52% 0.30% -0.20% -0.01% 0.37% -0.10% -0.48% 0.64% 0.86% 2.41% 0.52% 0.86% 1.46% 0.99% -0.28% -0.53% -1.26% -1.89% -1.27% 2.64% -0.39% -1.73% 1.00% 1.65% -0.10% 0.21% -0.07% 0.57% -0.04% -0.35% 0.00% 1.15% -1.40% 0.54% 0.43% -0.02% -2.01% 0.64% 0.08% 0.81% 0.44% -0.69% -0.29%
9 TRIM Kapital -1.39% -1.28% 0.85% 0.49% 1.18% 2.34% 0.75% 0.87% -0.10% 1.85% -0.32% 0.26% 0.36% 1.99% -0.27% 2.53% 0.11% -0.09% 1.89% 0.59% 0.39% 1.57% -0.07% -0.62% -1.94% -1.32% 1.79% 0.55% -0.55% 0.43% 0.88% 0.39% -0.32% 0.57% 1.02% 2.95% 0.42% 1.53% 2.32% 1.66% 0.43% 0.06% -1.45% -2.36% -1.91% 3.69% -0.53% -2.42% 0.85% 2.02% -0.18% 0.07% 0.60% 0.86% 0.08% 0.55% 0.48% 1.72% -1.84% 1.28% 1.03% 0.29% -2.68% 0.43% 0.04% 0.33% 0.97% -0.54% -0.53%
IHSG -1.41% -1.09% 0.43% 0.37% 0.73% 2.10% 0.71% 0.36% -0.49% 1.61% -0.35% 0.62% 0.11% 1.33% -0.02% 2.10% 0.10% 0.25% 2.49% 0.60% 0.15% 1.29% 0.60% -0.70% -1.51% -1.08% 1.65% 0.06% -0.21% -0.19% 0.29% 0.21% -0.13% 0.78% 1.11% 2.28% -0.06% 0.93% 1.87% 1.30% -0.40% -0.46% -1.21% -1.81% -1.62% 3.09% -0.58% -1.86% 0.59% 1.90% -0.28% 0.25% 0.21% 0.68% 0.22% 0.06% 0.12% 1.10% -1.68% 0.68% 0.52% -0.06% -1.76% 0.53% 0.08% 0.45% 0.32% -0.91% -0.39%
SBI 1 BLN 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028%
102
Lanjutan Lampiran 6. Date 2/23/2006 2/24/2006 2/27/2006 2/28/2006 3/1/2006 3/2/2006 3/3/2006 3/6/2006 3/7/2006 3/8/2006 3/9/2006 3/10/2006 3/13/2006 3/14/2006 3/15/2006 3/17/2006 3/20/2006 3/21/2006 3/22/2006 3/23/2006 3/24/2006 3/27/2006 3/28/2006 3/29/2006 4/3/2006 4/4/2006 4/5/2006 4/6/2006 4/7/2006 4/11/2006 4/12/2006 4/13/2006 4/17/2006 4/18/2006 4/19/2006 4/20/2006 4/21/2006 4/24/2006 4/25/2006 4/26/2006 4/27/2006 4/28/2006 5/1/2006 5/2/2006 5/3/2006 5/4/2006 5/8/2006 5/9/2006 5/10/2006 5/11/2006 5/12/2006 5/15/2006 5/16/2006 5/17/2006 5/18/2006 5/19/2006 5/22/2006 5/23/2006 5/24/2006 5/29/2006 5/30/2006 5/31/2006 6/1/2006 6/2/2006 6/5/2006 6/6/2006 6/7/2006 6/8/2006 6/9/2006
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham -0.78% -0.61% -0.57% -0.91% -0.28% -0.42% -0.36% -0.48% -0.56% -0.54% -1.05% -0.02% -0.68% -0.22% 1.92% 1.85% 1.88% 1.67% 1.48% 1.14% 0.71% -0.12% -0.19% -0.13% -0.31% -0.06% -0.06% -0.17% 0.68% 0.43% 0.16% 0.94% 0.63% 0.75% 0.50% 0.68% 0.91% 0.64% 0.64% 0.96% 0.70% 0.54% 0.72% 0.85% 1.08% 0.97% 1.41% 0.73% 0.92% 0.09% 0.03% -0.15% 0.48% 0.34% 0.11% 0.48% -1.42% -1.29% -1.11% -1.84% -1.27% -1.20% -1.01% -0.81% -1.01% -1.13% -0.98% -1.24% -1.19% -0.70% 0.53% 0.48% 0.46% 0.47% 0.15% 0.68% -0.05% 1.05% 1.14% 1.25% 0.95% 1.59% 0.94% 0.50% -0.45% -0.40% -0.26% 0.24% -0.12% -0.18% 1.45% -0.02% -0.10% 0.07% -0.21% -0.08% -0.01% 0.05% -0.17% -0.13% -0.29% 0.07% -0.30% -0.22% 0.10% 5.35% 5.36% 4.82% 4.90% 4.89% 4.00% 3.50% 2.07% 2.32% 1.68% 1.88% 1.37% 1.37% 1.61% -0.16% -0.29% -0.42% -0.01% -0.45% -0.33% 0.20% -2.16% -2.16% -2.41% -2.14% -2.39% -1.72% -1.47% 0.13% 0.12% 0.20% -0.04% 0.17% 0.14% 0.38% 0.36% 0.53% 0.31% 0.35% 0.73% 0.38% 0.36% 0.05% -0.05% 0.15% 0.13% -0.03% 0.13% 0.69% 1.81% 1.77% 1.69% 1.56% 1.44% 1.20% 1.14% -0.16% -0.15% -0.26% -0.17% -0.12% -0.62% -0.34% 0.71% 0.66% 0.73% 0.48% 0.33% 0.62% 0.36% -0.19% 0.05% -0.18% -0.41% -0.44% -0.24% -0.26% 1.48% 1.62% 1.30% 1.37% 1.52% 1.22% 0.18% 0.92% 0.67% 1.04% 1.21% 1.50% 1.10% 1.13% 0.97% 0.97% 1.34% 1.05% 1.77% 0.71% 1.33% -0.07% -0.21% 0.03% -0.51% -0.09% 0.03% -0.50% 0.64% 0.45% 0.95% 0.43% 1.20% 0.82% 0.77% 0.44% 0.80% -0.05% 0.21% -0.21% -0.44% 0.06% 0.19% 0.25% 0.23% 0.53% 0.75% 0.50% 0.96% 2.39% 2.36% 2.65% 2.34% 2.84% 2.30% 1.46% 3.28% 3.34% 4.21% 2.89% 4.05% 3.48% 2.13% 0.54% 0.39% 0.21% 1.36% 0.99% 1.04% 1.16% -0.69% -0.75% -0.58% 0.87% -0.18% -0.20% 1.86% -0.98% -1.05% -1.03% -1.23% -0.72% -0.77% -0.42% 0.70% 0.68% 1.16% 1.01% 1.23% 1.34% 0.73% 1.81% 1.59% 1.48% 2.26% 1.56% 2.00% 1.64% -0.69% -0.62% -0.68% -0.11% -0.47% -0.15% 0.21% -0.97% -1.30% -1.61% -0.71% -1.76% -1.30% -0.54% 0.95% 0.83% 1.09% 0.92% 1.58% 1.35% 1.12% -0.23% -0.56% -0.67% -0.01% -0.84% -0.50% 0.07% 1.39% 1.47% 1.04% 1.66% 1.03% 1.00% 1.14% -0.67% -0.69% -0.61% -1.31% -0.79% -0.23% 0.41% 1.11% 1.47% 0.71% 2.05% 1.66% 1.80% 1.76% 1.44% 1.35% 1.92% 1.29% 0.93% 1.42% 1.23% 0.62% 0.57% 1.02% 0.38% 0.99% 0.74% 0.18% 0.57% 1.10% 0.53% 1.71% 1.18% 1.43% 1.86% -1.95% -2.12% -1.90% -1.95% -1.87% -1.96% -1.26% -6.49% -7.01% -6.66% -6.96% -7.18% -6.50% -7.37% 0.85% 0.75% 0.27% 0.42% 0.28% 0.63% -0.32% 2.31% 2.38% 2.15% 3.03% 2.57% 2.34% 3.01% -3.77% -4.04% -3.39% -4.21% -4.34% -3.82% -4.69% -0.87% -1.06% -0.66% -0.56% -0.84% -0.47% -1.11% -5.63% -6.14% -5.45% -6.45% -6.83% -6.63% -8.01% 1.82% 2.29% 0.87% 2.08% 1.28% 1.62% 2.84% -0.22% -0.41% 1.02% -0.40% 0.45% 0.38% -0.95% 0.42% 0.14% 0.43% 1.01% 1.41% 1.18% 1.44% 2.48% 2.58% 3.29% 2.57% 3.24% 2.46% 3.22% -2.34% -2.42% -3.04% -2.33% -2.58% -1.91% -1.91% -0.81% -1.38% -0.57% -1.10% -1.10% -0.92% -1.83% 1.54% 1.84% 1.33% 1.43% 1.34% 1.20% 1.46% 0.32% 0.16% 0.29% 0.36% 0.59% 0.35% 0.20% -2.13% -2.10% -2.56% -2.19% -2.59% -2.33% -2.01% -1.69% -1.61% -1.86% -2.24% -2.27% -1.85% -2.57% -3.49% -4.00% -3.51% -3.54% -3.56% -3.48% -3.32% 2.70% 2.93% 2.07% 2.74% 2.54% 2.53% 1.20%
8 Danareksa Mawar -0.38% -0.79% 1.72% -0.03% 0.64% 0.53% 1.34% 0.28% -1.20% -1.34% 0.33% 0.51% -0.22% 0.26% -0.47% 4.65% 1.39% -0.46% -2.51% 0.26% 0.25% 0.08% 1.21% -0.40% 0.57% -0.11% 0.83% 0.88% 1.45% 0.24% 1.14% 0.04% 0.44% 2.14% 3.73% 0.42% -0.34% -0.31% 1.54% 2.91% -0.72% -1.42% 1.74% -0.77% 1.32% -0.26% 1.90% 1.45% 1.31% 1.42% -1.84% -7.43% 0.45% 2.01% -3.79% -0.29% -6.29% 1.25% -0.23% 1.38% 2.58% -2.43% -0.72% 1.44% 0.27% -2.40% -2.15% -3.28% 2.40%
9 TRIM Kapital -0.93% -0.67% 1.73% 0.01% 1.12% 0.36% 0.56% 0.43% -1.80% -1.39% 0.14% 1.60% 0.15% 0.14% -0.06% 5.57% 1.99% -0.23% -2.65% -0.15% 0.50% -0.10% 1.87% 0.08% 0.55% -0.56% 1.36% 1.19% 1.02% -0.03% 0.79% 0.26% 0.84% 2.07% 3.71% 0.74% 0.56% -0.94% 1.48% 2.35% -0.89% -0.78% 1.79% 0.26% 1.34% -0.23% 2.66% 1.18% 0.31% 2.38% -2.50% -8.17% 1.02% 4.25% -4.83% -0.51% -8.29% 2.79% -1.11% 1.28% 3.21% -2.28% -1.70% 1.64% 0.29% -2.24% -2.20% -3.55% 3.16%
IHSG -0.58% -0.66% 1.59% -0.39% 0.70% 0.84% 0.93% 0.11% -1.30% -1.02% 0.48% 0.63% -0.30% 0.14% -0.08% 4.88% 1.91% -0.22% -1.87% 0.25% 0.44% 0.04% 1.01% -0.17% 0.48% -0.22% 1.37% 0.77% 0.61% -0.23% 0.90% 0.71% 0.34% 2.21% 2.53% 0.78% -0.36% -1.13% 1.10% 1.57% -0.48% -0.69% 0.82% -0.04% 1.57% -0.98% 1.59% 1.64% 0.44% 0.89% -1.76% -6.31% -0.12% 2.41% -4.19% -0.56% -6.03% 1.32% -0.23% 0.81% 2.42% -2.65% -0.63% 1.98% 0.10% -2.38% -2.26% -3.56% 2.69%
SBI 1 BLN 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028%
103
Lanjutan Lampiran 6. Date 6/12/2006 6/13/2006 6/14/2006 6/15/2006 6/16/2006 6/19/2006 6/20/2006 6/21/2006 6/22/2006 6/23/2006 6/26/2006 6/27/2006 6/28/2006 6/29/2006 6/30/2006 7/3/2006 7/4/2006 7/5/2006 7/6/2006 7/7/2006 7/10/2006 7/11/2006 7/12/2006 7/13/2006 7/14/2006 7/17/2006 7/18/2006 7/19/2006 7/20/2006 7/21/2006 7/24/2006 7/25/2006 7/26/2006 7/27/2006 7/28/2006 7/31/2006 8/1/2006 8/2/2006 8/3/2006 8/4/2006 8/7/2006 8/8/2006 8/9/2006 8/10/2006 8/11/2006 8/14/2006 8/15/2006 8/16/2006 8/22/2006 8/23/2006 8/24/2006 8/25/2006 8/28/2006 8/29/2006 8/30/2006 8/31/2006 9/1/2006 9/4/2006 9/5/2006 9/6/2006 9/7/2006 9/8/2006 9/11/2006 9/12/2006 9/13/2006 9/14/2006 9/15/2006 9/18/2006 9/19/2006
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham -0.02% -0.08% 0.33% -0.04% 0.37% 0.32% -0.10% -2.53% -2.41% -2.48% -2.78% -2.29% -2.34% -2.94% -0.11% -0.33% -0.37% -0.41% -0.34% -0.52% -2.20% 0.62% 0.55% 0.31% 0.52% 0.22% 0.03% -0.03% 5.58% 5.81% 5.72% 5.20% 5.24% 5.00% 5.09% -0.96% -0.96% -1.08% -0.82% -0.88% -0.70% -0.71% -0.08% -0.11% -0.18% -0.01% -0.16% -0.40% -0.81% -0.11% -0.17% 0.29% 0.00% 0.28% 0.19% 0.79% 0.73% 0.55% 1.03% 1.07% 1.15% 0.84% 1.76% -0.67% -0.69% -0.71% -0.59% -0.90% -0.65% -0.87% -0.31% -0.22% -0.34% -0.35% 0.00% -0.40% 0.29% 0.10% 0.22% 0.61% 0.27% 0.97% 0.21% 0.80% -1.01% -1.36% -0.82% -0.59% -0.51% -0.80% -0.43% 0.40% 0.66% 0.28% 0.57% 0.30% 0.02% 1.07% 2.36% 2.48% 2.23% 2.46% 1.97% 2.42% 1.89% 1.74% 2.13% 1.83% 1.55% 1.44% 1.51% 1.99% 0.70% 0.75% 0.76% 0.80% 0.67% 1.27% 1.47% -0.07% -0.31% -0.22% -0.02% 0.02% -0.20% 0.39% 0.12% 0.06% 0.41% -0.37% -0.23% 0.03% 0.04% 0.36% 0.28% 0.49% 0.72% 0.70% 0.24% 0.29% -0.46% -0.50% -0.33% -0.29% -0.28% -0.30% -0.11% 0.20% 0.18% 0.20% 0.30% 0.59% 0.30% 0.42% 0.15% 0.19% 0.16% 0.10% -0.01% 0.02% -0.24% -0.97% -1.25% -1.33% -0.76% -1.33% -1.21% -1.14% -1.94% -1.79% -2.01% -2.06% -1.75% -1.93% -1.91% -1.74% -1.86% -2.00% -1.88% -1.80% -1.87% -2.12% 0.11% 0.04% 0.29% 0.60% 0.11% 0.15% 0.76% -0.19% -0.25% 0.06% -0.21% -0.36% -0.12% -0.35% 2.56% 2.79% 2.58% 2.42% 2.55% 2.69% 2.71% 0.12% 0.20% 0.28% -0.07% 0.08% 0.14% 0.02% -0.59% -0.63% -0.48% -0.09% -0.01% -0.15% 0.20% 0.38% 0.59% 0.90% 0.60% 0.74% 0.77% 1.00% 0.34% 0.37% 0.84% 0.74% 0.70% 0.75% 0.61% 1.52% 1.56% 1.19% 1.58% 0.78% 0.92% 0.91% 0.17% 0.10% -0.08% 0.18% 0.12% -0.24% -0.31% 0.91% 0.85% 1.25% 1.08% 0.84% 1.09% 1.16% 1.56% 1.63% 1.70% 1.50% 1.02% 1.49% 1.26% 1.38% 1.37% 1.34% 1.48% 0.86% 1.31% 0.87% -0.76% -0.88% -0.74% -0.91% -0.71% -0.81% -1.05% 0.66% 0.84% 0.68% 1.06% 0.80% 0.52% 0.90% 0.79% 0.70% 0.62% 1.20% 0.83% 0.93% 0.76% -0.32% -0.21% 0.20% -0.20% -0.03% 0.17% 0.16% 1.43% 1.54% 1.76% 1.22% 1.02% 1.57% 1.17% -2.00% -2.17% -2.48% -2.79% -2.28% -2.40% -2.58% 1.08% 1.15% 1.18% 1.31% 1.32% 1.27% 0.97% 1.09% 1.48% 0.80% 0.70% 1.04% 0.88% 0.45% 0.88% 1.00% 0.80% 1.13% 0.59% 0.78% 1.05% 1.14% 1.52% 1.05% 1.06% 1.16% 1.10% 0.99% -0.10% -0.04% -0.53% -0.58% 0.21% -0.10% -0.78% 0.09% -0.20% -0.30% -0.25% -0.17% -0.39% 0.17% -0.52% -0.74% -0.56% -0.51% -0.87% -0.82% -0.57% -1.18% -1.23% -1.36% -1.47% -1.38% -1.01% -1.46% 0.11% -0.05% 0.10% 0.05% 0.03% -0.16% -0.65% 1.10% 1.15% 1.59% 1.58% 1.03% 1.31% 1.33% -0.54% -0.48% -0.48% -0.57% -0.59% -0.68% -0.49% 0.49% 0.51% 0.76% 0.55% 0.20% 0.44% 0.68% 1.10% 1.14% 0.88% 0.87% 0.86% 1.01% 0.60% 1.71% 1.72% 1.74% 1.53% 1.60% 1.91% 1.45% 0.07% 0.13% -0.09% -0.31% -0.05% -0.15% -0.75% -0.02% 0.25% -0.13% -0.17% 0.05% -0.14% 0.17% -0.27% -0.19% -0.54% -0.40% -0.17% -0.38% -0.39% -0.13% -0.10% -0.19% -0.17% -0.04% -0.19% -0.21% -1.29% -1.50% -1.35% -1.63% -1.40% -1.47% -1.24% -1.08% -1.06% -1.33% -1.17% -1.15% -1.23% -1.05% 1.55% 1.62% 1.12% 0.94% 1.11% 0.84% 0.34% 0.85% 0.86% 0.87% 0.96% 0.31% 0.74% 0.83% 0.25% 0.30% 0.21% 0.16% 0.49% 0.27% 0.29% 0.55% 0.55% 0.61% 0.34% 0.67% 0.44% -0.16% 0.79% 0.76% 0.96% 0.79% 0.94% 0.85% 0.62%
8 Danareksa Mawar 0.15% -2.23% -1.17% 0.45% 4.77% -0.90% -0.35% 0.20% 0.93% -0.69% -0.16% 0.35% -0.66% 0.44% 2.07% 1.42% 1.00% 0.04% 0.24% 0.56% -0.25% 0.34% 0.12% -1.28% -1.94% -1.81% 0.16% -0.14% 2.59% 0.27% -0.19% 0.86% 0.62% 0.76% 0.02% 0.99% 1.39% 1.08% -0.61% 0.53% 0.63% 0.12% 1.37% -2.09% 1.08% 0.79% 0.67% 1.12% -0.14% -0.11% -1.02% -1.03% 0.13% 1.01% -0.55% 0.37% 0.83% 1.94% -0.10% 0.16% -0.30% -0.14% -1.52% -1.26% 0.82% 0.71% 0.24% 0.35% 1.17%
9 TRIM Kapital 0.33% -2.76% -1.63% 0.55% 5.80% -1.18% -0.17% 0.07% 1.34% -0.66% -0.26% 0.29% -0.80% 0.69% 2.73% 2.29% 1.35% 0.11% -0.07% 0.24% -0.39% 0.50% -0.01% -1.22% -2.82% -2.28% 0.45% -0.20% 2.94% -0.08% -0.50% 0.75% 0.28% 1.67% -0.32% 1.31% 1.78% 1.73% -0.88% 0.76% 0.92% -0.01% 1.74% -2.74% 1.41% 1.31% 0.87% 1.42% -0.32% -0.18% -0.89% -1.58% -0.20% 1.59% -0.70% 0.25% 1.16% 2.16% -0.28% -0.02% -0.48% -0.15% -1.80% -1.23% 1.29% 1.03% 0.15% 0.52% 0.86%
IHSG -0.13% -2.87% -0.19% 0.60% 5.47% -1.11% -0.01% -0.13% 0.79% -1.02% -0.49% 0.14% -1.06% 0.21% 2.79% 1.33% 0.76% 0.03% 0.13% 0.59% -0.60% 0.31% 0.14% -0.88% -2.28% -1.51% 0.16% -0.43% 2.74% -0.08% -0.87% 0.35% 0.39% 1.35% 0.51% 1.06% 1.48% 1.65% -1.05% 0.70% 1.02% -0.53% 1.22% -2.00% 1.25% 0.93% 0.64% 0.95% -0.19% 0.25% -0.64% -0.88% 0.08% 1.05% -0.54% 0.42% 0.92% 1.74% -0.09% 0.29% -0.14% -0.26% -1.32% -0.83% 1.11% 0.70% 0.30% 0.58% 0.75%
SBI 1 BLN 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.028% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.027% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.026% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025%
104
Lanjutan Lampiran 6. Date 9/20/2006 9/21/2006 9/22/2006 9/25/2006 9/26/2006 9/27/2006 9/28/2006 9/29/2006 10/2/2006 10/3/2006 10/4/2006 10/5/2006 10/6/2006 10/9/2006 10/10/2006 10/11/2006 10/12/2006 10/13/2006 10/16/2006 10/17/2006 10/18/2006 10/19/2006 10/20/2006 10/30/2006 10/31/2006 11/1/2006 11/2/2006 11/3/2006 11/6/2006 11/7/2006 11/8/2006 11/9/2006 11/10/2006 11/13/2006 11/14/2006 11/15/2006 11/16/2006 11/17/2006 11/20/2006 11/21/2006 11/22/2006 11/23/2006 11/24/2006 11/27/2006 11/28/2006 11/29/2006 11/30/2006 12/1/2006 12/4/2006 12/5/2006 12/6/2006 12/7/2006 12/8/2006 12/12/2006 12/13/2006 12/14/2006 12/15/2006 12/18/2006 12/19/2006 12/20/2006 12/21/2006 12/22/2006 12/26/2006 12/27/2006 12/28/2006 1/2/2007 1/3/2007 1/4/2007 1/5/2007
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham -0.42% -0.37% -0.11% 0.00% -0.26% -0.27% -0.22% 1.64% 1.83% 1.72% 2.01% 1.90% 1.68% 1.76% 0.20% -0.02% 0.56% 0.59% 0.33% 0.39% 0.59% -0.17% -0.07% -0.22% -0.32% -0.44% -0.19% -0.25% -0.70% -0.65% -0.87% -0.96% -0.87% -0.78% -1.28% 1.16% 1.12% 1.19% 1.12% 1.56% 1.31% 1.33% 0.18% 0.39% -0.05% 0.03% -0.05% 0.33% -0.05% 0.05% 0.15% 0.19% 0.20% -0.21% -0.03% 0.16% -0.49% -0.52% -0.30% -0.38% -0.39% -0.62% -0.39% 0.71% 0.86% 0.99% 1.04% 0.95% 1.22% 1.19% 0.05% 0.24% -0.42% -0.27% -0.50% -0.26% -0.19% 0.59% 0.49% 0.54% 0.58% 0.54% 0.45% 0.26% 0.21% 0.23% 0.39% 0.43% 0.30% 0.36% 0.67% -0.43% -0.61% -0.38% -0.34% -0.49% -0.45% -0.75% 1.20% 1.30% 1.08% 1.05% 1.05% 0.76% 1.50% -0.06% -0.21% 0.09% 0.14% -0.07% 0.14% -0.30% -0.03% -0.31% 0.07% 0.01% 0.29% -0.36% -1.54% 1.63% 1.64% 1.71% 1.66% 1.95% 1.54% 1.61% -0.92% -0.85% -0.99% -0.71% -0.97% -0.68% -0.81% 0.03% 0.20% 0.27% 0.37% 0.16% 0.19% 0.08% -0.22% -0.18% -0.33% -0.23% -0.24% -0.33% -0.45% 0.25% 0.14% 0.19% 0.21% -0.02% 0.39% -0.02% 0.38% 0.41% 0.51% 0.41% 0.43% 0.52% 0.48% 0.58% 0.47% 1.00% 1.04% 0.52% 0.82% 0.51% 0.05% -0.10% 0.12% 0.17% 0.19% 0.00% -0.53% 0.45% 0.48% 0.33% 0.35% 0.75% 0.36% -0.12% 1.26% 1.11% 1.65% 1.43% 1.12% 1.26% 0.76% 0.26% 0.28% 0.68% 0.50% 0.05% 0.56% 0.49% 1.65% 1.77% 1.43% 1.31% 1.14% 1.44% 2.12% 0.67% 0.74% 0.45% 0.44% 0.42% 0.62% -0.15% -0.56% -0.59% -0.57% -0.44% -0.98% -0.60% -0.54% 0.63% 0.78% 0.49% 0.68% 0.30% 0.46% -0.01% 0.09% 0.00% 0.34% 0.21% 0.50% 0.19% 0.23% -1.73% -1.63% -1.63% -1.57% -1.49% -1.88% -1.31% 1.75% 0.00% 0.00% 1.75% 0.00% 0.00% 0.00% 0.06% 1.75% 1.94% 0.01% 2.05% 2.31% 1.20% -0.02% -0.02% -0.10% 0.00% -0.10% 0.02% 0.14% 0.21% 0.38% 0.23% 0.34% 0.17% 0.18% 0.51% 0.58% 0.45% 0.48% 0.54% 0.45% 0.32% 0.19% 0.10% 0.14% 0.27% 0.17% 0.04% 0.01% -0.16% 1.29% 1.72% 1.19% 1.27% 0.99% 1.25% 1.65% 0.05% 0.02% -0.18% -0.25% 0.01% 0.01% -0.47% 0.39% 0.27% 0.47% 0.47% 0.52% 0.75% -0.17% 0.67% 0.35% 1.15% 0.89% 0.59% 0.91% 0.08% -2.28% -2.18% -2.49% -2.39% -3.07% -2.61% -2.55% 1.41% 1.26% 1.43% 1.44% 1.24% 1.06% 0.90% 0.54% 0.68% 0.41% 0.30% 0.45% 0.61% 0.13% 1.09% 1.91% 1.19% 1.02% 0.85% 1.12% 0.86% -0.69% -0.43% -0.82% -0.59% -0.97% -0.78% -0.74% 2.33% 2.69% 2.56% 2.48% 2.45% 2.59% 2.99% 0.38% 0.64% 0.56% 0.51% 0.34% 0.64% 1.46% -0.11% 0.36% -0.19% -0.02% -0.22% -0.21% 0.33% -0.15% 0.03% -0.39% -0.40% -0.13% -0.46% -0.20% -0.49% -0.73% -0.75% -0.64% -0.62% -0.88% -1.31% -0.02% 0.25% -0.30% -0.21% -0.13% -0.18% -0.22% 0.45% 0.20% 0.41% 0.20% 0.56% 0.40% -0.25% 1.01% 1.07% 1.05% 1.15% 0.98% 0.99% 1.12% 0.08% -0.16% 0.03% -0.12% 0.00% 0.13% -0.24% -2.95% -3.02% -2.82% -2.77% -2.87% -2.76% -3.07% 1.78% 1.70% 1.83% 1.69% 2.00% 1.56% 2.18% 1.39% 1.23% 1.37% 1.31% 1.21% 1.37% 1.26% -0.08% -0.15% -0.22% -0.03% 0.08% -0.04% -0.03% -0.07% -0.15% -0.29% -0.33% -0.35% -0.10% -0.16% 1.05% 1.06% 0.92% 0.97% 0.88% 0.95% 1.34% -0.13% -0.26% -0.37% -0.29% -0.46% 0.00% -0.08% 1.49% 1.56% 2.04% 1.62% 1.69% 1.60% 1.88% -0.14% -0.21% 0.32% -0.02% 0.41% -0.20% -0.30% -0.37% -0.44% -0.43% -0.42% -0.15% -0.18% -0.34% 0.23% 0.19% 0.05% 0.49% -0.15% 0.05% 0.82%
8 Danareksa Mawar -0.47% 1.38% 0.26% -0.10% -0.79% 1.26% 0.15% -0.15% -0.69% 0.77% -0.29% 0.47% 0.33% -0.38% 1.08% -0.23% -0.03% 1.54% -0.85% 0.13% -0.55% 0.28% 0.46% 0.54% -0.20% 0.18% 1.23% 0.36% 1.75% 0.79% -0.49% 0.41% 0.11% -1.35% 0.00% 1.69% -0.28% 0.14% 0.50% 0.16% 1.25% -0.01% 0.34% 0.72% -2.30% 1.10% 0.67% 0.66% -0.78% 2.37% 0.75% -0.19% -0.51% -0.58% -0.15% 0.57% 1.11% 0.44% -2.91% 1.67% 1.62% -0.10% -0.08% 0.78% -0.29% 1.61% 0.07% -0.79% 0.03%
9 TRIM Kapital -0.12% 1.98% 0.14% -0.21% -0.86% 1.36% 0.15% -0.12% -0.60% 0.82% 0.03% 0.61% 0.11% -0.56% 1.41% -0.17% -0.11% 1.87% -0.80% 0.21% -0.29% 0.28% 0.33% 0.52% 0.31% 0.35% 1.31% 0.41% 1.26% 0.59% -0.46% 0.68% 0.20% -1.77% 0.00% 1.79% 0.34% 0.59% 0.29% 0.14% 1.54% -0.08% 0.35% 0.75% -3.14% 1.48% 0.46% 1.21% -0.93% 2.65% 0.35% 0.22% -0.39% 0.09% -0.26% -0.08% 1.46% -0.10% -3.22% 1.98% 1.45% 0.08% -0.39% 1.25% -0.39% 1.86% 0.24% -0.44% 0.59%
IHSG -0.41% 1.90% 0.23% -0.27% -0.44% 1.53% 0.71% 0.05% -0.37% 0.58% -0.04% 0.51% 0.30% -0.40% 0.74% -0.12% -0.23% 1.46% -0.66% 0.32% -0.15% 0.26% 0.27% 0.47% 0.15% 0.46% 1.12% 0.33% 1.73% 0.81% -0.49% 0.86% 0.28% -1.54% 2.00% -0.12% -0.08% 0.20% 0.71% -0.16% 1.43% -0.08% 0.80% 0.65% -2.19% 1.32% 0.32% 0.92% -0.20% 2.63% 0.43% -0.13% -0.38% -1.17% -0.04% 0.80% 1.38% -0.25% -2.85% 1.73% 1.26% -0.19% -0.10% 1.08% 0.13% 1.72% -0.10% -0.58% 0.46%
SBI 1 BLN 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.023% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022%
105
Lanjutan Lampiran 6. Date 1/8/2007 1/9/2007 1/10/2007 1/11/2007 1/12/2007 1/15/2007 1/16/2007 1/17/2007 1/18/2007 1/19/2007 1/22/2007 1/23/2007 1/24/2007 1/25/2007 1/26/2007 1/29/2007 1/30/2007 1/31/2007 2/1/2007 2/2/2007 2/5/2007 2/6/2007 2/7/2007 2/8/2007 2/9/2007 2/12/2007 2/13/2007 2/14/2007 2/15/2007 2/16/2007 2/19/2007 2/20/2007 2/21/2007 2/22/2007 2/23/2007 2/26/2007 2/27/2007 2/28/2007 3/1/2007 3/2/2007 3/5/2007 3/6/2007 3/7/2007 3/8/2007 3/9/2007 3/12/2007 3/13/2007 3/14/2007 3/16/2007 3/20/2007 3/21/2007 3/22/2007 3/23/2007 3/26/2007 3/27/2007 3/28/2007 3/29/2007 3/30/2007 4/2/2007 4/3/2007 4/4/2007 4/5/2007 4/9/2007 4/10/2007 4/11/2007 4/12/2007 4/13/2007 4/16/2007 4/17/2007
1 2 3 4 5 6 7 Bahana Dana Manulife Dana Batavia Dana Schroder Dana Schroder Dana Fortis Ekuitas Fortis Pesona Prima Saham Saham Prestasi Plus Istimewa -1.07% -1.12% -1.14% -0.81% -0.86% -1.09% -0.90% -2.14% -1.95% -2.08% -2.11% -1.81% -2.14% -2.35% -4.15% -3.80% -4.36% -4.34% -4.05% -4.19% -4.75% -0.31% -0.43% -0.29% -0.71% -0.48% -0.15% -0.52% -1.51% -1.55% -1.47% -1.70% -1.76% -1.39% -2.92% 3.08% 2.57% 3.19% 3.31% 2.65% 3.23% 3.48% 0.75% 0.93% 1.48% 1.70% 1.01% 1.48% 1.78% 0.24% 0.13% 0.45% 0.35% 0.11% 0.37% 0.00% 0.62% 0.85% 0.62% 0.73% 0.36% 0.86% 0.89% 1.00% 1.10% 0.49% 0.59% 0.80% 0.54% 0.71% 1.33% 1.19% 1.59% 1.78% 1.56% 1.74% 1.23% -0.73% -0.68% -0.57% -0.49% -0.39% -0.33% -0.30% -0.04% 0.13% -0.09% -0.26% -0.26% -0.26% 0.60% -1.60% -1.55% -1.84% -1.70% -1.65% -1.69% -1.62% -0.84% -0.80% -0.76% -0.77% -0.84% -0.89% -0.66% 0.11% 0.22% 0.14% 0.02% -0.10% 0.30% 0.28% 0.11% 0.16% 0.32% 0.08% -0.06% 0.11% 0.21% -0.44% -0.40% -0.41% -0.53% -0.41% -0.66% -0.50% 0.45% 0.85% 0.49% 0.50% 0.19% 0.52% 1.71% 0.57% 0.37% 0.33% 0.36% 0.52% 0.44% 0.23% -0.52% -0.63% -0.44% -0.74% -0.56% -0.86% -0.92% -0.60% -0.66% -0.29% -0.48% -0.60% -0.79% -0.17% -0.01% -0.05% -0.01% 0.24% 0.18% 0.22% -0.08% -1.23% -1.01% -0.75% -0.98% -1.04% -1.03% -1.21% -0.84% -0.77% -0.42% -0.59% -0.65% -0.68% -0.64% -0.40% -0.50% 0.37% -0.21% -0.45% -0.45% -0.36% -0.28% -0.29% 0.24% -0.18% -0.10% -0.16% -0.21% 1.07% 0.81% 1.26% 1.49% 1.40% 1.23% 1.10% 2.44% 2.30% 2.98% 2.57% 2.38% 2.42% 2.66% 0.38% 0.27% 0.68% 0.49% 0.80% 0.37% 0.22% 0.24% 0.12% 0.24% 0.04% 0.17% 0.13% 0.09% 0.01% 0.02% 0.45% 0.30% 0.11% 0.37% 0.18% 0.79% 0.76% 1.23% 0.96% 0.51% 0.77% 0.95% -0.60% -0.43% -0.27% -0.58% -0.61% -0.64% -0.30% -0.89% -0.82% -1.28% -1.22% -1.11% -1.09% -1.12% -0.44% -0.50% -0.47% -0.48% -0.47% -0.37% -0.90% -0.88% -0.83% -1.04% -1.16% -0.86% -0.38% -1.10% -1.04% -0.76% -1.32% -1.31% -0.87% -1.56% -0.98% 0.60% 0.49% 0.76% 0.71% 0.79% 0.63% 0.72% -0.15% -0.24% -0.02% -0.07% -0.21% -0.13% 0.02% -3.24% -3.06% -3.84% -3.69% -3.23% -3.50% -4.27% 1.86% 1.76% 2.25% 2.13% 2.12% 2.10% 2.24% 0.77% 0.75% 1.03% 0.94% 1.33% 0.85% 0.85% 1.42% 1.50% 1.90% 1.85% 1.85% 1.68% 1.91% -0.06% -0.08% -0.30% -0.27% -0.17% -0.15% -0.38% 1.79% 1.71% 1.64% 1.84% 2.05% 1.72% 1.79% 0.07% 0.07% 0.24% 0.16% 0.30% 0.10% 0.27% -1.98% -1.96% -1.88% -1.94% -2.18% -1.97% -2.37% 0.59% 0.41% 1.10% 0.90% 1.24% 0.83% 1.11% -0.34% -0.65% 0.24% 0.06% -0.18% -0.15% -0.08% 0.53% 0.55% 0.49% 0.37% 0.31% 0.43% 0.72% 1.52% 1.57% 1.26% 1.51% 1.58% 1.60% 1.63% -0.14% -0.18% -0.25% -0.43% -0.25% -0.24% -0.03% 0.66% 0.63% 0.59% 0.57% 0.18% 0.46% 0.41% 0.30% 0.23% 0.19% 0.35% -0.05% 0.30% 0.21% -1.17% -1.32% -1.34% -1.29% -1.55% -1.14% -1.12% 1.01% 1.07% 0.96% 1.17% 1.61% 1.27% 1.04% 0.65% 0.61% 1.11% 1.04% 1.23% 0.66% 0.15% 1.17% 1.18% 1.26% 0.90% 1.68% 1.14% 0.93% 2.47% 2.70% 2.54% 2.87% 3.02% 2.75% 2.59% 1.02% 1.19% 1.34% 1.34% 1.39% 1.57% 1.53% -1.65% -1.89% -1.80% -1.55% -1.96% -1.53% -1.43% 0.94% 0.95% 0.98% 1.19% 1.24% 0.88% 1.06% 0.52% 0.49% 0.85% 0.83% 0.56% 0.65% 0.66% 0.11% 0.09% 0.04% -0.05% -0.05% 0.21% 0.26% 0.12% 0.04% 0.36% 0.27% 0.07% 0.10% -0.10% 0.63% 0.62% 0.50% 0.54% 0.30% 0.50% 0.24% 1.17% 1.23% 1.15% 1.32% 1.56% 1.34% 1.33% 0.03% -0.05% 0.52% 0.24% 0.15% 0.37% 0.47%
8 Danareksa Mawar -1.15% -2.07% -4.46% -0.37% -2.23% 2.77% 2.25% -0.16% 0.46% 0.92% 1.16% -0.38% -0.09% -1.53% -0.83% 0.24% -0.04% -0.13% 0.67% 0.00% -1.00% -0.66% 0.09% -0.95% -0.82% 0.03% -0.40% 0.85% 2.67% 0.46% 0.16% 0.18% 0.94% -0.47% -1.20% -0.44% -0.69% -1.03% 0.75% -0.17% -3.21% 2.00% 0.97% 1.45% -0.36% 1.62% 0.22% -2.12% 1.33% 0.19% 0.49% 1.71% -0.32% 0.86% 0.24% -1.42% 1.11% 0.82% 1.34% 2.79% 1.84% -1.75% 0.97% 0.96% 0.29% 0.07% 0.33% 1.19% 0.02%
9 TRIM Kapital -0.96% -2.33% -4.88% -0.70% -2.99% 3.97% 1.82% 0.22% 1.14% 0.81% 1.49% -0.39% 0.06% -2.00% -0.94% 0.57% -0.05% -0.49% 1.63% 0.21% -1.07% -0.54% -0.01% -0.76% -0.58% -0.72% -0.57% 1.07% 2.76% -0.32% 0.14% -0.02% 0.56% -0.65% -0.93% -0.61% -1.68% -1.33% 0.66% -0.26% -4.64% 2.92% 1.10% 2.05% -0.83% 2.03% 0.41% -2.53% 1.43% 0.79% 0.59% 1.98% -0.66% 0.70% 0.12% -1.78% 0.92% 0.97% 1.55% 3.05% 2.31% -2.29% 1.12% 1.31% 0.34% -0.01% 0.22% 1.39% 0.32%
IHSG -1.05% -1.79% -3.96% -0.38% -1.51% 3.12% 1.38% 0.24% 1.09% 1.00% 1.22% -0.49% -0.16% -1.76% -0.83% 0.33% 0.03% -0.47% 0.80% 0.51% -0.67% -0.41% 0.21% -0.77% -0.63% -0.34% -0.41% 1.37% 2.25% 0.22% 0.27% 0.40% 0.56% -0.45% -0.93% -0.42% -1.12% -1.31% 1.06% 0.03% -3.48% 1.98% 0.62% 1.63% -0.39% 1.70% 0.16% -1.95% 0.89% -0.14% 0.21% 1.68% -0.17% 0.43% 0.33% -1.06% 0.96% 0.73% 1.01% 2.44% 1.45% -1.38% 0.96% 0.61% 0.29% -0.03% 0.56% 1.17% 0.08%
SBI 1 BLN 0.022% 0.022% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020%
106
Lanjutan Lampiran 6. Date 4/18/2007 4/19/2007 4/20/2007 4/23/2007 4/24/2007 4/25/2007 4/26/2007 4/27/2007 4/30/2007 5/1/2007 5/2/2007 5/3/2007 5/4/2007 5/7/2007 5/8/2007 5/9/2007 5/10/2007 5/11/2007 5/14/2007 5/15/2007 5/16/2007 5/21/2007 5/22/2007 5/23/2007 5/24/2007 5/25/2007 5/28/2007 5/29/2007 5/30/2007 5/31/2007 6/4/2007 6/5/2007 6/6/2007 6/7/2007 6/8/2007 6/11/2007 6/12/2007 6/13/2007 6/14/2007 6/15/2007 6/18/2007 6/19/2007 6/20/2007 6/21/2007 6/22/2007 6/25/2007 6/26/2007 6/27/2007 6/28/2007 6/29/2007 7/2/2007 7/3/2007 7/4/2007 7/5/2007 7/6/2007 7/9/2007 7/10/2007 7/11/2007 7/12/2007 7/13/2007 7/16/2007 7/17/2007 7/18/2007 7/19/2007 7/20/2007 7/23/2007 7/24/2007 7/25/2007 7/26/2007
1 2 3 4 5 6 7 Bahana Dana Manulife Dana Batavia Dana Schroder Dana Schroder Dana Fortis Ekuitas Fortis Pesona Prima Saham Saham Prestasi Plus Istimewa -0.51% -0.54% -0.12% -0.50% -0.75% -0.64% 0.28% -1.99% -2.13% -2.40% -2.35% -2.19% -2.29% -2.25% 2.63% 2.75% 2.40% 2.56% 2.64% 2.45% 2.18% 0.90% 0.86% 1.02% 1.31% 1.11% 1.12% 0.91% -0.69% -0.84% -0.54% -0.34% -0.56% -0.52% -0.75% 0.84% 1.05% 1.76% 1.51% 0.49% 0.54% 0.69% 1.12% 1.10% 0.98% 0.88% 1.28% 1.39% 0.78% 0.03% -0.06% -0.22% -0.16% -0.18% -0.19% 0.21% -1.53% -1.54% -0.71% -1.59% -1.43% -1.40% -1.75% 0.11% 0.44% 0.17% 0.05% 0.01% 0.24% 0.05% 0.43% 0.66% 0.23% 0.48% 0.28% 0.51% 0.21% 0.70% 0.80% 0.77% 0.50% 0.76% 0.60% 0.63% 0.61% 0.78% 0.65% 0.96% 0.51% 0.52% 0.91% 0.24% 0.29% 0.89% 0.83% 0.61% 0.51% 0.90% -0.73% -0.68% -0.74% -0.47% -0.86% -0.78% -0.46% 0.80% 0.70% 0.62% 0.72% 0.83% 0.71% 0.22% 0.45% 0.58% 0.28% 0.59% 0.56% 0.44% 0.39% -1.39% -1.26% -1.54% -1.24% -1.33% -1.31% -1.30% 1.45% 1.62% 1.91% 1.76% 1.32% 1.25% 1.15% 0.05% 0.22% -0.05% -0.09% -0.40% -0.16% -0.02% 1.64% 1.94% 1.48% 1.43% 1.33% 1.35% 1.23% 0.73% 0.81% 1.13% 0.92% 0.91% 0.80% 0.03% 0.47% 0.22% 0.89% 0.33% 0.83% 0.51% 0.37% 0.97% 0.99% 1.33% 1.18% 0.75% 0.84% 0.73% -1.42% -1.69% -1.24% -1.92% -2.35% -1.76% -1.40% -1.29% -1.53% -0.77% -0.76% -1.48% -1.14% -0.50% 1.29% 1.24% 0.91% 0.92% 0.74% 0.92% 0.66% -0.71% -0.35% 0.42% 0.03% -0.36% -0.67% -0.54% -0.38% -0.56% -0.20% -0.29% -0.19% -0.16% -0.41% 1.46% 1.47% 1.48% 1.56% 2.08% 1.82% 1.64% 1.82% 1.68% 1.97% 1.78% 2.19% 1.45% 1.06% -0.76% -0.85% -0.98% -0.94% -0.98% -0.99% -1.10% 0.34% 0.41% 0.48% 0.28% 0.44% 0.79% 0.83% -0.53% -0.45% -0.93% -0.78% -0.71% -0.68% -0.72% -1.98% -2.17% -1.62% -1.94% -1.91% -1.71% -1.64% 1.78% 2.15% 1.36% 1.63% 1.59% 1.91% 1.02% 1.24% 1.32% 0.77% 1.02% 0.65% 0.66% 0.86% -0.94% -1.05% -1.09% -1.10% -0.95% -1.12% -0.70% 1.26% 1.35% 0.99% 1.07% 1.12% 0.93% 0.75% 0.41% 0.46% 0.60% 0.63% 0.46% 0.46% 0.40% 0.57% 0.56% 0.96% 0.85% 0.29% 0.69% 0.49% 0.91% 0.77% 1.03% 0.94% 1.19% 1.10% 0.97% 1.00% 0.87% 1.07% 0.87% 1.29% 0.78% 0.73% -0.75% -0.81% -0.63% -0.72% -0.93% -0.89% -0.62% 0.21% 0.28% 0.29% -0.02% 0.05% 0.01% 0.11% 0.16% 0.19% 0.13% -0.03% 0.24% -0.07% 0.29% -0.13% -0.02% 0.05% -0.04% -0.25% -0.13% 0.13% -1.01% -1.07% -1.02% -1.21% -1.17% -1.26% -1.26% -0.46% -0.45% -0.34% -0.41% -0.45% -0.61% -0.56% 1.31% 1.24% 1.48% 1.90% 1.82% 1.56% 1.00% 1.64% 1.60% 1.67% 1.73% 1.78% 1.75% 1.56% 1.10% 1.34% 0.75% 0.89% 0.70% 0.79% 0.57% 0.24% 0.36% 0.04% 0.19% -0.02% -0.03% -0.21% 1.09% 1.14% 1.24% 1.20% 1.51% 1.29% 1.20% 0.47% 0.33% 0.94% 1.15% 0.81% 0.63% 0.58% 2.31% 2.22% 2.18% 2.81% 2.46% 2.32% 1.73% 0.38% 0.40% -0.13% 0.03% 0.27% 0.22% 0.66% -0.78% -0.71% -0.78% -0.90% -0.88% -0.80% -0.29% 0.47% 0.47% 0.60% 0.98% 0.72% 0.76% 0.37% 0.72% 0.74% 0.81% 0.59% 0.49% 0.73% 0.80% -0.71% -0.83% -0.91% -0.86% -0.93% -0.80% -0.95% 0.65% 0.64% 0.71% 0.98% 0.95% 0.80% 1.07% -0.04% 0.07% 0.15% 0.07% -0.01% -0.15% -0.17% 1.89% 2.06% 2.00% 2.40% 2.17% 1.98% 2.14% 1.84% 1.98% 1.76% 1.83% 1.69% 1.85% 1.29% 0.82% 0.99% 1.41% 1.46% 1.09% 1.12% 1.24% 0.69% 0.94% 0.65% 0.57% 0.76% 0.85% 0.73% -0.45% -0.30% -0.10% -0.37% -0.45% -0.32% -0.28% -1.11% -1.20% -1.38% -1.10% -0.77% -0.99% -1.33%
8 Danareksa Mawar -0.68% -2.48% 2.05% 0.85% -0.63% 0.48% 1.59% -0.17% -1.39% 0.08% 0.47% 0.32% 0.44% -0.02% 0.00% -0.17% 0.51% -1.48% 0.97% -0.18% 1.44% 0.88% 0.60% 0.83% -1.75% -1.29% 1.15% -0.79% -0.13% 1.36% 1.46% -1.01% 1.22% -0.51% -1.60% 2.19% 1.07% -1.14% 1.21% 0.53% 0.30% 0.82% 0.96% -0.81% 0.10% 0.12% -0.19% -0.98% -0.52% 1.37% 1.59% 0.97% 0.04% 1.26% 0.49% 2.20% 0.04% -0.79% 0.35% 0.40% -0.85% 0.68% -0.02% 1.86% 1.46% 0.68% 0.59% -0.80% -1.10%
9 TRIM Kapital -0.51% -2.70% 2.42% 1.26% -0.49% 0.26% 2.45% -0.43% -1.86% 1.01% 0.22% 0.62% 1.15% 0.38% -0.78% 0.65% 0.28% -1.25% 2.24% -0.04% 1.72% 1.26% 0.17% 0.75% -2.63% -0.93% 1.76% -0.45% -0.83% 1.86% 2.28% -1.24% 2.35% -0.81% -1.89% 1.49% 0.58% -1.77% 0.88% 0.73% 1.18% 1.64% 1.23% -0.97% 0.03% 0.21% -0.35% -1.43% -0.57% 1.68% 1.79% 0.95% -0.07% 1.29% 0.97% 2.19% 0.10% -0.64% 0.43% 0.79% -1.15% 1.13% 0.15% 1.91% 2.15% 1.59% 0.87% -0.47% -1.71%
IHSG -0.29% -2.11% 2.63% 0.91% -0.26% 0.26% 1.48% 0.18% -1.02% 0.10% 0.37% 0.85% 0.38% 0.18% -0.70% 0.75% 0.44% -1.21% 1.08% -0.31% 1.27% 0.36% 0.36% 1.23% -1.22% -0.87% 0.79% -0.87% -0.16% 1.41% 1.32% -0.88% 0.45% -0.41% -1.88% 1.44% 1.18% -0.95% 0.95% 0.58% 0.28% 0.74% 0.88% -0.40% 0.00% -0.01% 0.06% -1.31% -0.59% 1.25% 1.33% 0.98% 0.32% 1.13% 0.28% 1.99% 0.49% -0.39% 0.51% 0.73% -0.67% 0.66% -0.29% 1.70% 1.40% 0.58% 0.88% -0.27% -1.22%
SBI 1 BLN 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018%
107
Lanjutan Lampiran 6. Date 7/27/2007 7/30/2007 7/31/2007 8/2/2007 8/3/2007 8/6/2007 8/7/2007 8/8/2007 8/9/2007 8/10/2007 8/13/2007 8/14/2007 8/15/2007 8/16/2007 8/20/2007 8/23/2007 8/24/2007 8/27/2007 8/28/2007 8/29/2007 8/30/2007 9/3/2007 9/4/2007 9/5/2007 9/6/2007 9/7/2007 9/10/2007 9/11/2007 9/12/2007 9/13/2007 9/14/2007 9/18/2007 9/19/2007 9/20/2007 9/21/2007 9/24/2007 9/25/2007 9/26/2007 9/27/2007 9/28/2007 10/1/2007 10/2/2007 10/3/2007 10/4/2007 10/5/2007 10/8/2007 10/9/2007 10/10/2007 10/11/2007 10/18/2007 10/19/2007 10/22/2007 10/23/2007 10/24/2007 10/25/2007 10/26/2007 10/29/2007 10/30/2007 10/31/2007 11/1/2007 11/2/2007 11/5/2007 11/6/2007 11/7/2007 11/8/2007 11/9/2007 11/12/2007 11/13/2007 11/14/2007
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham -2.59% -2.80% -2.21% -2.68% -2.69% -2.49% -2.48% -0.18% -0.22% 0.02% -0.16% -0.27% -0.03% 0.25% 2.00% 2.26% 1.49% 1.91% 1.95% 2.02% 1.92% -2.89% -3.11% -2.94% -3.84% -3.34% -3.36% -3.46% 0.14% 0.20% -0.20% -0.25% 0.10% 0.06% -0.19% -3.02% -3.62% -2.61% -3.10% -3.40% -3.50% -3.69% -0.61% -0.58% -0.86% -1.10% -0.94% -0.94% -1.07% 3.71% 3.86% 3.91% 3.74% 3.85% 3.94% 4.41% -0.86% -1.01% -0.71% -0.73% -0.82% -0.79% -0.92% -1.54% -1.75% -1.47% -1.54% -1.61% -1.63% -1.82% 0.41% 0.23% 0.36% 0.45% 0.69% 0.61% 0.12% -1.92% -2.20% -2.04% -2.06% -2.01% -1.97% -2.31% -5.77% -6.49% -5.89% -6.48% -6.66% -6.40% -7.04% -5.19% -5.49% -5.82% -5.63% -6.59% -5.87% -7.47% 6.47% 6.76% 6.98% 6.79% 7.79% 6.97% 7.51% 3.76% 4.26% 3.69% 4.13% 4.66% 3.80% 4.88% 0.62% 0.60% 0.18% 0.13% -0.05% 0.19% 0.55% 1.68% 1.92% 1.65% 1.64% 1.33% 1.65% 1.88% -0.61% -0.42% -0.60% -0.53% -0.89% -0.82% -0.62% -0.95% -0.97% -0.99% -1.12% -0.92% -0.96% -0.48% 0.68% 0.82% 0.76% 0.85% 0.76% 0.89% 0.55% 2.83% 3.28% 2.92% 2.74% 3.33% 2.87% 2.76% 0.11% 0.18% -0.14% 0.01% 0.05% 0.10% -0.47% 0.34% 0.36% 0.63% 0.44% 0.68% 0.47% 0.48% 0.18% 0.29% 0.90% 0.69% 0.41% 0.27% 0.55% 0.72% 0.76% 0.68% 0.70% 0.64% 0.93% 0.39% -1.34% -1.62% -1.24% -1.34% -1.53% -1.38% -1.16% -0.01% 0.01% 0.11% -0.10% 0.08% 0.00% 0.00% -0.29% -0.29% -0.38% -0.31% -0.04% -0.32% -0.29% 0.51% 0.65% 0.69% 0.45% 0.74% 0.56% 0.43% 0.28% 0.22% 0.33% 0.36% 0.56% 0.21% 0.49% 0.86% 0.97% 1.06% 0.98% 0.90% 0.99% 1.88% 3.02% 3.53% 3.41% 3.53% 3.47% 3.25% 3.54% -0.33% -0.41% -0.43% -0.45% -0.48% -0.35% -0.55% 1.25% 1.36% 1.77% 1.55% 1.86% 1.45% 1.63% 1.05% 1.22% 0.83% 0.88% 0.91% 0.81% 1.72% -0.98% -1.14% -0.96% -0.92% -1.26% -0.88% -1.50% 1.11% 1.20% 1.04% 1.02% 0.94% 1.09% 1.16% 0.69% 0.72% 1.10% 0.65% 0.95% 0.84% 0.85% -0.96% -1.17% -0.70% -0.79% -0.81% -0.78% -0.63% 1.94% 1.90% 1.11% 1.28% 1.59% 1.73% 1.24% 2.55% 2.70% 2.25% 2.59% 2.59% 2.58% 1.99% -0.37% -0.50% -0.28% -0.41% -0.35% -0.31% -0.55% 1.03% 0.98% 1.08% 1.07% 1.08% 1.02% 1.22% 1.08% 0.91% 0.90% 0.78% 1.21% 0.71% 0.73% 1.23% 1.34% 1.28% 1.18% 1.47% 1.26% 0.61% 1.09% 0.97% 1.42% 1.27% 1.48% 1.28% 1.21% 1.85% 2.05% 2.07% 1.89% 2.25% 1.87% 1.48% 1.70% 1.84% 2.16% 2.18% 1.95% 2.15% 1.58% -1.03% -1.71% 0.13% -0.38% 0.37% -0.11% 0.98% -2.11% -2.18% -2.17% -1.93% -2.21% -2.14% -2.08% -4.19% -4.18% -4.63% -4.24% -4.72% -4.44% -4.22% 4.23% 4.04% 4.47% 4.26% 4.45% 4.09% 4.29% -1.05% -1.08% -1.38% -1.21% -1.16% -1.05% -1.28% 3.23% 2.78% 3.26% 3.17% 3.62% 2.91% 2.97% 1.11% 1.08% 0.93% 1.09% 1.16% 1.07% 0.58% 1.86% 2.67% 1.75% 1.83% 2.08% 2.02% 1.45% 0.18% 0.25% -0.33% -0.30% -0.07% 0.09% 0.05% -0.63% -0.28% 0.01% -0.42% -0.38% -0.40% -0.34% 2.46% 2.23% 2.15% 2.46% 2.24% 2.25% 1.59% -0.07% -0.16% -0.04% -0.05% 0.23% 0.27% -0.23% -2.22% -2.18% -2.34% -2.25% -2.19% -2.13% -2.16% 0.78% 0.93% 1.38% 1.04% 1.12% 1.47% 1.27% 1.23% 0.94% 1.33% 1.20% 1.86% 1.05% 0.40% -1.51% -1.63% -1.18% -1.37% -0.75% -1.53% -1.14% 0.94% 0.99% 1.20% 0.90% 1.59% 1.02% 1.35% -1.32% -1.56% -1.17% -1.57% -1.21% -1.37% -1.18% -0.47% 0.13% -1.64% -1.60% -1.97% -1.07% -0.30% 1.66% 1.45% 2.10% 1.94% 1.65% 1.59% 1.79%
8 Danareksa Mawar -2.71% 0.03% 2.21% -3.22% -0.10% -3.09% -0.74% 3.54% -0.90% -1.40% 0.38% -1.86% -5.85% -4.84% 6.53% 3.34% 0.50% 1.65% -0.54% -1.01% 0.71% 2.68% 0.02% 0.39% 0.25% 0.94% -1.34% 0.02% -0.18% 0.52% 0.28% 0.93% 2.92% -0.14% 1.34% 0.73% -0.85% 0.88% 0.95% -0.88% 1.50% 2.69% -0.44% 1.08% 1.03% 1.13% 1.08% 2.09% 2.11% 0.40% -1.82% -4.67% 4.69% -0.79% 3.25% 1.23% 2.02% 0.08% -0.10% 2.77% 0.51% -2.18% 1.89% 1.63% -0.55% 1.79% 0.00% -2.05% 1.18%
9 TRIM Kapital -3.01% -0.14% 2.11% -4.80% -0.13% -3.72% -1.13% 4.67% -0.78% -1.91% 0.26% -2.83% -7.11% -6.97% 7.50% 4.28% 0.13% 2.01% -0.57% -0.60% 0.40% 3.35% -0.41% 0.65% 1.10% 0.70% -1.44% 0.39% -0.43% 0.55% 0.39% 1.35% 3.45% -0.69% 1.99% 1.24% -1.28% 1.24% 1.00% -0.82% 1.08% 2.05% -0.25% 1.42% 0.98% 1.42% 1.56% 2.29% 2.36% 0.31% -2.71% -5.62% 5.12% -1.54% 3.52% 0.46% 2.27% 0.00% -0.10% 2.47% 0.30% -2.76% 2.08% 1.32% -0.43% 2.48% -0.83% -2.10% 2.42%
IHSG -2.83% 0.14% 2.05% -3.31% -0.05% -3.55% -0.69% 4.07% -0.94% -1.52% 0.18% -1.94% -6.44% -5.94% 6.97% 3.73% 1.20% 1.50% -0.72% -1.14% 0.74% 2.92% 0.07% -0.02% 0.28% 0.86% -1.35% 0.08% -0.07% 0.58% 0.13% 0.64% 3.28% -0.38% 1.34% 0.78% -0.99% 1.32% 0.75% -0.82% 1.71% 2.73% -0.54% 0.88% 1.11% 0.92% 0.91% 1.76% 1.80% -0.81% -2.02% -4.31% 4.10% -1.13% 2.84% 1.07% 1.64% -0.17% -0.73% 2.31% 0.22% -2.14% 1.11% 1.20% -1.32% 1.10% -1.32% -0.66% 1.42%
SBI 1 BLN 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018%
108
Lanjutan Lampiran 6. Date 11/15/2007 11/16/2007 11/19/2007 11/20/2007 11/21/2007 11/22/2007 11/23/2007 11/26/2007 11/27/2007 11/28/2007 11/29/2007 11/30/2007 12/4/2007 12/5/2007 12/6/2007 12/7/2007 12/10/2007 12/11/2007 12/12/2007 12/13/2007 12/14/2007 12/17/2007 12/18/2007 12/19/2007 12/26/2007 12/27/2007 12/28/2007 1/2/2008 1/3/2008 1/4/2008 1/7/2008 1/8/2008 1/9/2008 1/14/2008 1/15/2008 1/16/2008 1/17/2008 1/18/2008 1/21/2008 1/22/2008 1/23/2008 1/24/2008 1/25/2008 1/28/2008 1/29/2008 1/30/2008 1/31/2008 2/1/2008 2/4/2008 2/5/2008 2/6/2008 2/11/2008 2/12/2008 2/13/2008 2/14/2008 2/15/2008 2/18/2008 2/19/2008 2/20/2008 2/21/2008 2/22/2008 2/25/2008 2/26/2008 2/27/2008 2/28/2008 2/29/2008 3/3/2008 3/4/2008 3/5/2008
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 0.54% 0.46% 1.50% 1.12% 0.83% 0.69% -0.01% -1.51% -1.62% -1.67% -1.35% -1.37% -1.61% -1.23% -0.95% -0.90% -1.01% -0.90% -1.20% -1.12% -1.04% -0.88% -1.17% -0.34% -0.42% -0.62% -0.69% -0.76% -2.29% -2.26% -2.23% -2.03% -2.44% -2.15% -2.32% 0.40% 1.02% -0.18% -0.23% 0.15% 0.29% -0.11% 0.54% 0.63% 0.66% 0.64% 0.91% 0.62% 0.41% 2.57% 1.99% 3.21% 3.01% 3.52% 2.91% 2.87% -0.73% -0.73% -0.38% -0.64% -0.65% -0.29% -0.55% 1.83% 1.49% 2.05% 2.14% 1.88% 1.83% 1.06% 1.07% 1.27% 0.46% 0.70% 0.56% 0.80% 0.90% -0.16% -0.40% 0.22% 0.09% 0.15% 0.21% -0.35% 2.93% 2.78% 3.15% 3.13% 2.88% 2.89% 3.83% 0.59% 0.80% 0.04% -0.02% 0.00% 0.18% 0.76% 0.75% 0.75% 0.57% 0.64% 0.62% 0.69% 1.39% -0.73% -0.63% -0.96% -0.99% -0.88% -0.55% -1.08% 0.37% 0.14% 0.31% 0.31% 0.27% 0.14% 0.66% 0.78% 0.74% 0.86% 0.72% 1.06% 0.81% 1.05% -0.66% -0.65% -0.64% -0.53% -0.69% -0.66% -0.76% -1.53% -1.58% -1.44% -1.62% -1.56% -1.31% -1.60% -0.62% -0.63% -0.55% -0.51% -0.63% -0.62% -0.59% -2.56% -2.56% -3.14% -2.92% -3.46% -2.80% -3.20% -0.91% -0.78% -0.85% -0.98% -1.23% -1.03% -1.01% 0.54% 0.58% 0.35% 0.42% 0.64% 0.44% 0.65% 2.35% 2.04% 2.77% 2.53% 2.86% 2.48% 2.70% 0.75% 0.66% 0.91% 0.89% 1.02% 0.92% 0.46% 0.01% 0.02% 0.00% 0.01% 0.05% 0.17% 0.17% -0.63% -0.80% -0.62% -0.46% -0.62% -0.75% -0.97% -0.80% -0.98% -0.58% -0.73% -0.29% -0.67% -1.01% 2.00% 1.92% 2.00% 2.01% 2.15% 2.07% 1.56% 0.25% 0.39% -0.03% -0.12% 0.27% 0.49% 0.17% 0.47% 0.48% 0.32% 0.26% 0.54% 0.19% 0.58% 1.76% 1.44% 1.78% 2.01% 2.11% 1.85% 1.80% -0.73% -0.96% -0.17% -0.49% -0.19% -0.48% -0.73% -3.05% -3.18% -3.09% -2.98% -3.10% -2.95% -3.41% -5.14% -5.09% -5.58% -5.40% -5.86% -5.18% -5.02% 2.08% 2.26% 2.04% 1.87% 2.11% 2.07% 2.30% -1.35% -1.18% -1.59% -1.34% -1.61% -1.44% -1.85% -4.90% -4.88% -5.09% -5.01% -5.07% -4.80% -5.40% -7.58% -7.58% -7.77% -7.78% -8.08% -7.51% -8.42% 8.20% 7.66% 9.03% 8.53% 8.73% 8.05% 9.10% 1.86% 2.15% 1.33% 1.47% 1.65% 1.53% 1.67% 4.72% 4.30% 5.15% 4.89% 5.14% 4.49% 4.73% -0.95% -1.02% -0.79% -0.95% -1.17% -0.78% -1.72% 1.10% 0.99% 1.71% 1.34% 1.38% 1.26% 1.24% -0.32% -0.22% 0.00% 0.10% -0.18% -0.24% -0.08% 0.82% 0.92% 0.39% 0.78% 0.61% 0.49% 0.83% 0.59% 0.37% 0.82% 0.94% 0.74% 0.73% 0.75% 2.21% 2.10% 1.76% 1.95% 2.01% 1.81% 2.13% 0.11% 0.48% 0.09% 0.22% -0.27% -0.13% 0.07% -2.34% 0.00% -2.73% -2.72% -2.28% -2.35% -2.62% -2.23% -4.86% -2.40% -2.26% -2.69% -2.07% -2.11% -0.20% -0.30% 0.18% 0.07% 0.33% 0.00% 0.05% 0.87% 1.00% 0.65% 0.65% 0.67% 0.51% 0.89% 2.62% 2.77% 2.70% 2.61% 2.86% 2.40% 2.46% 0.77% 0.77% 0.84% 0.88% 0.55% 0.90% 0.68% -0.20% -0.26% -0.22% -0.20% -0.29% 0.06% -0.15% 1.04% 1.11% 0.86% 0.90% 1.03% 1.09% 1.17% -0.72% -0.94% -1.16% -1.02% -0.72% -0.92% -0.64% 1.84% 1.68% 2.03% 1.82% 1.72% 1.71% 1.70% 0.31% 0.18% 0.43% 0.42% 0.51% 0.43% 0.33% 0.38% 0.17% 0.67% 0.59% 0.65% 0.61% 0.50% -0.51% -0.53% -0.63% -0.65% -0.41% -0.66% -0.28% -0.04% -0.04% -0.15% -0.18% -0.03% -0.18% -0.11% 0.56% 0.75% 0.39% 0.42% 0.38% 0.32% 0.38% -1.61% -1.73% -1.40% -1.19% -1.42% -1.28% -1.40% -2.65% -2.39% -2.71% -2.60% -2.81% -2.42% -2.78% -1.00% -0.83% -1.12% -0.96% -1.16% -0.99% -1.02% -0.07% 0.10% -0.16% 0.00% 0.03% 0.22% 0.13%
8 Danareksa Mawar 0.77% -1.53% -0.87% -0.57% -2.03% -0.13% 1.02% 3.21% -0.61% 1.81% 0.10% 0.04% 2.82% -0.01% 0.74% -0.88% -0.12% 0.87% -0.48% -1.23% -0.61% -2.97% -0.99% 0.26% 2.71% 1.15% -0.19% -0.46% -0.10% 1.82% 0.47% 0.25% 2.10% -0.02% -2.56% -5.43% 1.98% -1.85% -5.11% -7.57% 7.71% 0.98% 4.59% -1.41% 1.71% 0.09% 0.59% 1.19% 2.19% -0.40% -2.82% -2.06% 0.34% 0.49% 2.92% 0.72% -0.25% 1.07% -0.69% 1.84% 0.46% 0.70% -0.79% -0.06% 0.45% -0.75% -2.62% -1.03% 0.49%
9 TRIM Kapital 0.90% -1.64% -1.30% 0.11% -2.90% -0.25% 0.85% 3.86% -0.46% 1.85% 0.21% -0.01% 2.99% 0.26% 0.79% -0.93% -0.11% 1.71% -0.39% -1.81% -0.71% -3.44% -0.80% 0.38% 2.75% 0.71% 0.30% -1.33% -1.14% 2.20% 0.48% 0.02% 1.56% -0.44% -2.99% -6.44% 2.53% -2.45% -6.22% -10.06% 11.44% 1.24% 5.69% -1.13% 2.01% -0.27% 0.49% 0.79% 2.20% -0.03% -2.88% -2.84% 0.15% 0.37% 2.85% 1.14% -0.35% 1.27% -0.90% 2.20% 0.70% 0.89% -0.41% -0.72% 0.13% -1.48% -2.98% -0.84% -0.38%
IHSG 0.52% -1.37% -0.82% -0.83% -2.33% 0.23% 0.58% 2.46% -0.76% 1.67% 1.05% -0.43% 2.40% 0.55% 0.99% -0.59% 0.41% 0.74% -0.54% -1.43% -0.57% -2.74% -0.70% 0.44% 2.13% 0.93% 0.22% -0.52% -0.60% 1.85% 0.41% 0.33% 1.60% -0.70% -2.86% -5.04% 2.20% -1.44% -4.80% -7.70% 7.92% 1.63% 4.12% -1.47% 1.00% 0.10% 0.65% 0.74% 2.07% 0.10% -2.41% -1.88% 0.10% 0.72% 2.48% 0.47% -0.13% 1.01% -0.83% 1.67% 0.25% 0.39% -0.47% 0.05% 0.59% -1.25% -2.56% -0.66% 0.19%
SBI 1 BLN 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018%
109
Lanjutan Lampiran 6. Date 3/6/2008 3/10/2008 3/11/2008 3/12/2008 3/13/2008 3/14/2008 3/17/2008 3/19/2008 3/24/2008 3/25/2008 3/26/2008 3/27/2008 3/28/2008 3/31/2008 4/1/2008 4/2/2008 4/3/2008 4/4/2008 4/7/2008 4/8/2008 4/9/2008 4/10/2008 4/11/2008 4/14/2008 4/15/2008 4/16/2008 4/17/2008 4/18/2008 4/21/2008 4/22/2008 4/23/2008 4/24/2008 4/25/2008 4/28/2008 4/29/2008 4/30/2008 5/2/2008 5/5/2008 5/6/2008 5/7/2008 5/8/2008 5/9/2008 5/12/2008 5/13/2008 5/14/2008 5/15/2008 5/16/2008 5/19/2008 5/21/2008 5/22/2008 5/23/2008 5/26/2008 5/27/2008 5/28/2008 5/29/2008 5/30/2008 6/2/2008 6/3/2008 6/4/2008 6/5/2008 6/6/2008 6/9/2008 6/10/2008 6/11/2008 6/12/2008 6/13/2008 6/16/2008 6/17/2008 6/18/2008
1 2 3 4 5 6 7 Bahana Dana Manulife Dana Batavia Dana Schroder Dana Schroder Dana Fortis Ekuitas Fortis Pesona Prima Saham Saham Prestasi Plus Istimewa 0.64% 0.52% 0.69% 0.64% 0.52% 0.57% 0.41% -5.19% -4.74% -5.43% -5.18% -5.82% -5.24% -5.56% -0.06% 0.04% 0.14% -0.02% 0.09% -0.25% 0.13% 1.35% 1.48% 0.95% 1.13% 1.16% -0.31% 1.16% -4.61% -4.05% -5.05% -4.71% -5.11% -3.22% -5.10% -2.20% -1.82% -2.46% -2.33% -2.52% -2.09% -2.48% -2.82% -2.41% -3.38% -2.93% -3.65% -3.27% -3.99% 0.40% 0.30% -0.05% -0.05% 0.36% 0.26% 0.27% 0.73% 0.82% 0.63% 0.50% 0.83% 0.68% 0.76% 3.52% 3.19% 3.83% 3.66% 4.07% 3.48% 3.96% 0.72% 0.71% 0.66% 0.57% 1.02% 0.43% 0.49% 0.49% 0.65% 1.00% 0.85% 0.74% 0.44% 0.82% 1.05% 0.86% 0.73% 0.71% 1.02% 0.96% 1.12% -1.20% -1.14% -1.31% -1.34% -1.70% -1.12% -1.50% -2.46% -2.26% -2.77% -2.76% -3.15% -2.59% -2.98% -2.24% -2.06% -2.81% -2.65% -2.84% -2.16% -2.67% -4.45% -4.29% -5.01% -4.58% -5.52% -4.28% -4.62% 1.99% 1.65% 1.68% 1.83% 1.93% 1.96% 1.93% 0.12% -0.06% 0.64% 0.26% 0.42% 0.10% 0.77% -1.63% -2.00% -1.75% -1.63% -1.59% -1.48% -1.60% -3.06% -2.78% -3.41% -3.17% -3.43% -3.12% -3.54% 2.73% 2.61% 3.15% 3.11% 3.15% 2.74% 3.46% 3.23% 3.45% 3.75% 3.66% 3.95% 2.98% 3.52% -1.52% -1.73% -1.68% -1.42% -1.66% -1.24% -0.97% 0.98% 1.12% 1.04% 0.86% 1.18% 0.85% 0.95% 2.22% 1.83% 2.54% 2.14% 2.75% 1.98% 2.16% 0.05% 0.14% -0.21% -0.07% -0.10% 0.46% 0.07% 0.63% 0.65% 0.50% 0.39% 0.58% 0.54% 0.51% -0.61% -0.58% -0.61% -0.66% -0.56% -0.94% -0.69% -2.21% -2.44% -2.00% -2.09% -1.73% -1.89% -1.89% 1.07% 0.71% 1.63% 1.43% 1.20% 1.11% 1.46% -1.79% -1.49% -2.44% -2.15% -2.29% -2.08% -1.89% -1.37% -1.15% -1.58% -1.55% -1.52% -1.33% -1.46% 0.38% 0.20% 0.58% 0.73% 0.63% 0.49% 0.36% 2.58% 2.58% 2.59% 2.65% 2.75% 2.42% 1.97% -0.17% 0.07% -0.32% -0.40% -0.41% -0.20% -0.29% 1.88% 2.07% 1.88% 1.61% 1.81% 1.75% 0.68% 2.03% 1.95% 2.27% 2.10% 2.16% 1.82% 1.71% -0.50% -0.66% -0.25% -0.25% -0.15% -0.20% 0.43% 0.61% 0.41% 0.92% 0.63% 1.05% 0.43% 1.69% -0.33% -0.47% -0.20% -0.29% -0.15% -0.29% -0.50% -0.26% -0.30% -0.03% -0.22% -0.13% -0.20% 0.20% 0.06% 0.05% -0.06% -0.08% 0.09% 0.03% 0.13% 1.68% 1.67% 1.94% 1.78% 1.96% 1.77% 1.50% 1.16% 1.04% 1.95% 1.54% 1.75% 1.12% 0.76% -0.01% 0.16% -0.18% -0.21% -0.39% -0.23% -0.41% 0.72% 0.53% 1.08% 0.80% 1.06% 0.99% 0.99% 1.87% 1.89% 2.42% 2.22% 2.03% 1.88% 2.04% -0.72% -0.73% -0.75% -0.78% -0.95% -0.76% -0.05% 0.00% 0.00% 0.00% -0.02% 0.05% 0.00% 0.30% -1.30% -1.21% -1.49% -1.36% -1.38% -1.18% -1.31% -2.14% -2.25% -1.87% -1.95% -2.07% -2.07% -1.83% -0.93% -1.22% -0.81% -1.10% -0.73% -1.11% -0.77% 1.92% 2.12% 2.19% 1.97% 1.92% 1.78% 1.80% 0.88% 0.84% 1.39% 0.85% 1.43% 0.74% 1.67% 0.06% 0.00% -0.03% -0.10% -0.02% 0.19% -0.39% -0.47% -0.33% -0.76% -0.84% -1.02% -0.79% -0.62% -1.11% 0.00% -1.21% -1.03% -1.25% -1.22% -1.13% -1.91% -3.21% -2.36% -1.88% -2.02% -2.17% -2.30% 1.22% 1.26% 1.23% 1.27% 1.03% 1.28% 1.39% 0.09% -0.03% 0.49% 0.17% 0.35% 0.12% 0.24% 0.17% 0.15% 0.60% 0.52% 0.81% 0.22% 0.72% -1.75% -1.60% -2.31% -2.05% -2.35% -2.17% -1.81% -0.22% -0.52% 0.16% 0.04% -0.25% -0.24% -0.21% 1.51% 1.37% 2.03% 1.80% 1.84% 1.79% 2.03% -0.68% -0.72% -0.68% -0.45% -0.72% -0.96% -0.12% 0.22% 0.20% 0.29% 0.39% 0.20% 0.32% -0.01% -0.74% -0.63% -0.03% -0.61% -0.29% -0.44% -0.59% -0.36% -0.27% -0.53% -0.49% -0.29% -0.23% -0.20%
8 Danareksa Mawar 0.40% -5.65% 0.09% 1.02% -4.67% -2.51% -3.32% -0.23% 0.39% 3.95% 0.59% 0.49% 0.84% -1.44% -2.89% -2.83% -4.69% 2.10% 0.47% -1.43% -3.02% 3.06% 3.74% -0.86% 1.09% 2.55% -0.01% 0.54% -0.60% -1.88% 1.74% -2.12% -1.61% 0.56% 2.53% -0.36% 1.32% 1.93% -0.13% 0.66% -0.11% -0.23% -0.15% 1.50% 1.08% -0.21% 0.88% 2.04% -0.64% -0.04% -1.59% -1.96% -0.57% 1.94% 1.55% -0.19% -0.73% -1.09% -2.11% 1.36% 0.52% 0.91% -2.23% -0.23% 2.45% -0.56% -0.13% -0.26% -0.19%
9 TRIM Kapital 0.85% -6.55% -0.14% 1.04% -5.97% -3.01% -4.85% -0.89% 0.87% 4.94% 1.02% 1.36% 0.74% -1.56% -3.47% -3.52% -5.81% 2.13% 1.93% -1.45% -3.28% 3.26% 3.46% -1.48% 1.15% 2.59% -0.12% 0.52% 0.08% -1.65% 1.77% -2.90% -2.19% 0.76% 2.75% -0.41% 1.31% 1.76% 0.09% 1.45% 0.02% -0.39% 0.25% 1.79% 0.82% -0.22% 1.61% 2.78% -0.78% 0.50% -1.35% -1.61% -0.31% 1.83% 1.70% 0.00% -1.01% -1.57% -2.66% 1.32% 1.32% 0.42% -2.49% -0.54% 2.41% -0.76% 0.03% 0.18% -0.42%
IHSG 0.64% -4.84% -0.17% 1.30% -4.52% -2.34% -2.98% 0.49% 0.68% 3.43% 0.87% 0.44% 1.07% -1.22% -2.21% -2.13% -4.45% 1.75% 0.43% -1.62% -3.10% 2.56% 3.04% -1.37% 0.96% 1.90% 0.16% 0.32% -0.57% -2.00% 1.10% -1.92% -1.30% 0.61% 2.18% 0.04% 1.66% 1.93% -0.68% 0.46% -0.24% -0.08% 0.13% 1.72% 1.26% 0.02% 0.78% 1.71% -0.65% 0.37% -1.52% -1.87% -0.94% 1.53% 0.54% -0.11% -0.68% -0.99% -1.72% 1.57% 0.11% 0.33% -1.50% 0.04% 1.44% -0.44% -0.02% -0.84% -0.56%
SBI 1 BLN 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019%
110
Lanjutan Lampiran 6. Date 6/19/2008 6/20/2008 6/23/2008 6/24/2008 6/25/2008 6/26/2008 6/27/2008 6/30/2008 7/1/2008 7/2/2008 7/3/2008 7/4/2008 7/7/2008 7/8/2008 7/9/2008 7/10/2008 7/11/2008 7/14/2008 7/15/2008 7/16/2008 7/17/2008 7/18/2008 7/21/2008 7/22/2008 7/23/2008 7/24/2008 7/25/2008 7/28/2008 7/29/2008 7/31/2008 8/1/2008 8/4/2008 8/5/2008 8/6/2008 8/7/2008 8/8/2008 8/11/2008 8/12/2008 8/13/2008 8/14/2008 8/15/2008 8/19/2008 8/20/2008 8/21/2008 8/22/2008 8/25/2008 8/26/2008 8/27/2008 8/28/2008 8/29/2008 9/1/2008 9/2/2008 9/3/2008 9/4/2008 9/5/2008 9/8/2008 9/9/2008 9/10/2008 9/11/2008 9/12/2008 9/15/2008 9/16/2008 9/17/2008 9/18/2008 9/19/2008 9/22/2008 9/23/2008 9/24/2008 9/25/2008
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 0.60% 0.41% 1.05% 0.94% 0.84% 0.91% 0.93% 0.36% 0.16% 0.48% 0.45% 0.42% 0.52% 0.54% -0.39% -0.50% -0.19% -0.03% -0.12% -0.45% -0.35% 0.11% 0.24% -0.02% 0.01% -0.12% -0.08% 0.10% -0.88% -0.77% -1.37% -1.25% -1.27% -1.28% -1.28% 0.27% 0.30% 0.07% 0.18% 0.16% 0.36% 0.32% -0.94% -1.21% -0.90% -0.86% -1.07% -1.02% -0.75% 0.46% 0.44% 0.61% 0.60% 0.62% 0.81% 0.77% 1.66% 1.90% 1.52% 1.60% 1.65% 1.85% 1.51% -0.25% -0.22% -0.66% -0.39% -0.29% -0.52% -0.26% -4.08% -4.32% -4.37% -4.11% -4.16% -4.26% -3.69% 1.19% 1.37% 1.63% 1.08% 1.07% 1.32% 0.78% -0.49% -0.58% -0.60% -0.56% -0.51% -0.55% -0.39% -0.65% -0.55% -1.41% -1.07% -1.12% -0.98% -1.11% 0.23% 0.42% -0.08% 0.02% -0.05% 0.06% -0.68% -0.66% -0.50% -0.97% -0.75% -0.75% -1.07% -0.86% -0.02% -0.11% -0.06% 0.07% 0.06% 0.48% 0.18% -0.47% -0.40% -0.43% -0.63% -0.69% -0.75% -0.02% -1.62% -1.76% -1.57% -1.75% -1.65% -1.73% -1.69% -0.90% -1.27% -0.99% -1.10% -1.20% -1.01% 0.09% -2.11% -1.95% -2.56% -2.34% -2.75% -2.19% -2.29% -0.86% -0.44% -1.84% -1.25% -1.44% -1.20% -2.15% 2.55% 2.32% 2.87% 2.70% 3.16% 2.59% 3.09% 1.13% 1.39% 0.58% 0.83% 0.73% 1.18% 0.98% 0.67% 1.36% 0.24% 0.57% 0.94% 0.58% -0.13% 1.55% 1.37% 1.34% 1.39% 1.31% 1.42% 1.02% -0.71% -0.85% 0.36% -0.27% -0.25% -0.69% -0.15% 1.18% 1.12% 0.77% 1.03% 1.00% 1.03% 1.34% 0.61% 0.84% 0.27% 0.35% 0.34% 0.25% 0.07% 1.61% 1.52% 1.83% 1.66% 1.78% 1.58% 1.30% -2.60% -2.74% -2.59% -2.44% -2.49% -2.39% -2.40% -0.98% -0.86% -1.65% -1.26% -1.33% -1.34% -1.74% -1.71% -1.52% -2.41% -1.95% -1.83% -1.66% -2.09% 0.34% 0.46% -0.05% -0.05% 0.33% 0.18% -0.04% 0.59% 0.62% 0.75% 0.71% 0.61% 0.79% 0.29% 0.21% 0.20% 0.40% 0.10% -0.14% 0.12% 0.35% -2.59% -2.35% -3.71% -3.02% -2.99% -2.84% -2.92% -3.29% -2.96% -4.38% -3.46% -3.97% -3.33% -4.29% 0.41% 0.26% 0.04% 0.11% 0.50% 0.39% -0.16% 2.05% 1.35% 3.08% 2.69% 2.42% 2.38% 2.13% -1.08% -0.74% -1.73% -1.42% -1.20% -1.20% -1.17% -1.65% -1.55% -2.36% -1.88% -2.10% -2.17% -1.99% 1.38% 1.14% 2.12% 1.69% 1.53% 1.41% 1.21% 0.92% 0.84% 1.60% 1.24% 1.03% 1.26% 1.14% 1.21% 1.23% 1.64% 1.46% 1.50% 1.36% 1.21% 0.58% 0.73% 0.21% 0.38% 0.42% 0.56% 0.35% -0.98% -0.90% -0.86% -0.87% -0.90% -0.78% -0.82% 1.38% 1.48% 1.20% 1.05% 1.20% 1.29% 1.10% 0.81% 0.76% 0.73% 0.61% 0.77% 0.94% 0.95% 1.30% 1.39% 0.92% 0.94% 1.11% 0.71% 0.95% 0.22% 0.34% 0.29% 0.20% 0.41% 0.34% 0.01% 0.12% 0.40% -0.85% -0.19% 0.10% 0.11% 0.11% -1.87% -1.46% -2.83% -2.37% -2.40% -2.17% -1.98% -1.96% -2.12% -2.36% -2.06% -2.24% -2.14% -1.97% -1.92% -1.97% -3.30% -2.53% -2.70% -2.43% -2.27% 0.57% 0.61% 0.76% 0.53% 0.22% 0.70% -0.01% -3.36% -3.20% -4.80% -4.26% -4.52% -3.99% -3.22% -3.06% -2.95% -5.50% -4.15% -4.60% -3.99% -3.09% -1.43% -1.83% -0.86% -0.99% -0.90% -1.01% -1.17% -3.70% -4.21% -3.73% -3.64% -3.83% -3.77% -3.97% -3.97% -3.75% -6.37% -5.26% -5.73% -5.00% -4.73% 1.89% 2.46% 1.56% 1.80% 2.26% 1.69% 2.39% 1.76% 1.59% 2.28% 1.93% 1.78% 1.74% 1.67% 1.19% 0.47% 1.79% 1.62% 1.70% 0.98% 1.05% 5.53% 5.74% 7.65% 6.30% 7.20% 6.54% 6.23% 0.52% 0.42% 0.27% 0.33% 0.30% 0.54% 1.12% -1.45% -1.95% -1.45% -1.27% -1.69% -2.03% -2.39% 0.30% 0.58% 0.40% 0.45% 0.29% 0.76% -0.07% -0.69% -0.37% -1.33% -1.22% -1.54% -1.06% -0.49%
8 Danareksa Mawar 0.89% 0.33% -0.05% -0.04% -1.32% 0.36% -0.87% 0.81% 1.85% -0.35% -4.40% 1.16% -0.53% -1.36% -0.23% -0.80% 0.06% -0.55% -1.65% -1.11% -2.98% -2.34% 2.81% 0.68% -0.25% 1.84% -0.29% 1.03% 0.15% 2.03% -2.26% -1.39% -2.55% -0.13% 0.92% 0.14% -3.69% -4.38% 0.17% 3.48% -1.91% -2.50% 1.86% 1.63% 1.83% 0.27% -1.06% 1.14% 0.73% 0.95% 0.32% -0.74% -2.75% -2.25% -2.72% 0.54% -4.62% -4.96% -0.84% -3.72% -5.02% 0.82% 1.97% 2.45% 6.72% 0.06% -0.94% 0.25% -1.53%
9 TRIM Kapital 0.93% 0.59% -0.33% -0.38% -1.34% 0.21% -1.05% 1.04% 1.33% -0.60% -3.91% 1.42% -0.23% -1.13% -0.21% -0.77% 0.05% -0.47% -1.59% -0.60% -2.36% -1.58% 3.25% 1.31% 0.11% 1.28% -0.38% 0.73% 0.04% 1.12% -2.40% -1.08% -2.24% -0.07% 1.02% 0.24% -3.12% -4.11% 0.35% 2.47% -1.44% -2.46% 1.35% 1.09% 1.21% 0.23% -0.98% 1.41% 0.65% 1.12% 0.26% -0.01% -2.98% -2.06% -2.85% 0.10% -4.16% -4.69% -1.25% -3.83% -5.60% 2.51% 1.72% 1.74% 7.57% -0.11% -1.68% 0.47% -1.66%
IHSG 0.36% -0.05% -0.38% 0.11% -1.02% 0.41% -0.80% 0.73% 1.26% -0.01% -3.86% 1.23% -0.47% -1.08% 0.31% -0.43% 0.03% -0.76% -1.98% 0.15% -2.27% -1.23% 2.52% 0.81% 0.59% 1.40% -0.52% 1.35% 0.13% 1.13% -2.42% -0.94% -1.89% 0.07% 0.54% -0.14% -2.82% -3.58% 0.29% 2.09% -1.02% -2.05% 1.33% 0.90% 1.54% 0.32% -0.92% 1.12% 0.65% 0.98% -0.06% -0.26% -1.99% -1.93% -2.54% 0.76% -3.89% -3.76% -0.79% -3.53% -4.70% 0.95% 1.97% 1.00% 5.82% 0.30% -1.28% 0.56% -0.72%
SBI 1 BLN 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.020% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.021% 0.022% 0.022%
111
Lanjutan Lampiran 6. Date 9/26/2008 9/29/2008 10/6/2008 10/7/2008 10/8/2008 10/13/2008 10/14/2008 10/15/2008 10/16/2008 10/17/2008 10/20/2008 10/21/2008 10/22/2008 10/23/2008 10/24/2008 10/27/2008 10/28/2008 10/29/2008 10/30/2008 10/31/2008 11/3/2008 11/4/2008 11/5/2008 11/6/2008 11/7/2008 11/10/2008 11/11/2008 11/12/2008 11/13/2008 11/14/2008 11/17/2008 11/18/2008 11/19/2008 11/20/2008 11/21/2008 11/24/2008 11/25/2008 11/26/2008 11/27/2008 11/28/2008 12/1/2008 12/2/2008 12/3/2008 12/4/2008 12/5/2008 12/9/2008 12/10/2008 12/11/2008 12/12/2008 12/15/2008 12/16/2008 12/17/2008 12/18/2008 12/19/2008 12/22/2008 12/23/2008 12/24/2008 12/26/2008 12/30/2008 1/5/2009 1/6/2009 1/7/2009 1/8/2009 1/9/2009 1/12/2009 1/13/2009 1/14/2009 1/15/2009 1/16/2009
1 2 3 4 5 6 7 Bahana Dana Manulife Dana Batavia Dana Schroder Dana Schroder Dana Fortis Ekuitas Fortis Pesona Prima Saham Saham Prestasi Plus Istimewa -0.65% -0.31% -1.10% -0.75% -1.06% -1.08% -0.52% -1.25% -1.18% -1.16% -1.06% -1.37% -1.41% -1.18% -8.23% -7.85% -13.01% -10.86% -12.46% -9.22% -7.09% -1.43% -1.24% -1.34% -0.91% -1.46% -1.12% -1.23% -10.97% -11.91% -11.02% -10.15% -12.14% -10.07% -9.86% 1.90% 2.06% 1.37% 1.20% 1.94% 1.35% 0.82% 6.84% 7.31% 6.56% 6.36% 7.49% 6.37% 6.48% -2.34% -2.03% -2.74% -2.45% -2.81% -3.10% -2.70% -3.61% -3.52% -3.97% -3.78% -4.70% -3.95% -3.83% -4.51% -4.26% -5.07% -4.81% -5.70% -4.45% -4.75% 2.07% 1.63% 1.74% 1.75% 1.95% 1.72% 1.72% 1.02% 1.08% 0.98% 0.94% 1.09% 1.49% 0.82% -4.37% -4.41% -4.90% -4.39% -5.35% -3.98% -3.95% -3.38% -3.41% -4.16% -3.48% -4.27% -3.51% -3.10% -6.86% -7.37% -6.81% -6.46% -7.53% -6.74% -6.82% -5.66% -5.78% -7.30% -6.62% -7.19% -6.38% -6.09% -5.04% -5.74% -5.57% -4.65% -5.07% -5.34% -3.90% 0.43% 0.43% -1.28% -0.26% -0.18% -0.03% 0.43% 5.62% 5.74% 5.89% 5.43% 6.72% 5.38% 5.34% 7.62% 7.01% 9.83% 8.64% 9.60% 7.58% 7.29% 7.97% 7.93% 10.34% 9.13% 10.28% 7.69% 8.14% 1.49% 2.07% 2.03% 1.51% 1.81% 0.97% 1.42% -0.80% -1.15% -1.55% -1.17% -1.10% -0.46% -0.92% -4.28% -4.13% -4.51% -3.84% -5.70% -3.97% -3.93% 2.82% 2.45% 4.03% 3.22% 4.20% 2.83% 3.61% 0.30% 0.15% 0.32% 0.30% 0.28% 0.58% 0.97% 0.12% 0.11% -0.28% -0.01% -0.07% -0.37% 0.31% -0.96% -0.98% -0.50% -0.60% -0.75% -0.62% -0.63% -5.04% -4.80% -5.57% -5.10% -6.21% -4.90% -4.42% 0.72% 0.93% 0.20% 0.06% 0.54% 0.54% 1.03% -1.97% -1.90% -2.12% -1.97% -2.50% -2.06% -1.40% -2.98% -2.85% -2.87% -2.52% -4.53% -3.28% -2.56% -0.68% -0.88% -1.65% -1.10% -1.39% -0.77% 0.06% -1.80% -1.44% -3.02% -2.70% -3.35% -2.38% -2.06% 0.37% 0.41% -0.16% 0.13% 0.06% 0.17% 0.73% -0.66% -0.77% -0.92% -0.79% -0.39% -0.37% -0.11% 1.31% 1.43% 1.46% 1.18% 2.10% 0.90% 1.07% 3.78% 3.72% 3.66% 3.43% 4.46% 3.43% 3.05% 0.77% 0.54% 1.61% 1.48% 1.73% 1.26% 0.83% 3.87% 4.11% 3.26% 2.97% 4.03% 3.01% 3.07% -1.47% -1.28% -1.87% -1.81% -1.99% -1.31% -1.45% -2.40% -2.56% -3.06% -2.67% -3.15% -2.26% -2.25% -0.05% -0.21% 0.14% 0.29% -0.16% 0.15% 0.16% 1.40% 1.27% 1.80% 1.66% 2.18% 1.32% 1.45% -0.43% -0.37% -0.28% -0.25% -0.37% -0.14% -0.44% 6.46% 6.00% 6.39% 6.04% 6.96% 5.78% 5.50% 4.51% 3.89% 5.36% 4.75% 5.67% 4.06% 4.46% 0.16% 0.18% 0.57% 0.50% 0.93% 0.31% -0.43% -4.93% -4.71% -5.00% -4.84% -5.68% -4.50% -4.74% 8.25% 7.84% 8.75% 8.63% 9.51% 7.76% 7.53% -1.17% -1.33% -1.33% -1.09% -1.50% -1.35% -0.86% 1.34% 1.61% 1.72% 1.63% 1.63% 1.44% 1.55% -0.47% -0.20% -0.17% -0.28% -0.12% -0.54% -0.35% -1.19% -1.26% -0.64% -0.58% -1.01% -1.09% -0.07% -0.52% -0.59% -0.84% -0.46% -0.82% -0.53% -0.49% 0.21% 0.09% -0.49% -0.55% -0.49% -0.24% 0.32% -0.56% -0.43% -0.31% -0.55% -0.53% -0.65% -0.53% 0.17% 0.13% 0.26% 0.27% 0.36% 0.19% 0.57% 1.07% 1.02% 1.06% 0.83% 1.11% 1.08% 0.99% 6.28% 6.11% 0.00% 6.83% 7.44% 5.90% 5.90% 0.05% 0.37% 7.58% 0.19% 0.39% 0.52% -0.20% -1.27% -1.55% -0.97% -0.92% -1.17% -1.23% -1.59% -1.00% -1.11% -1.71% -1.72% -2.11% -1.35% -0.96% 1.16% 0.50% 1.48% 1.38% 1.56% 1.36% 0.98% -0.14% 0.14% -0.82% -0.44% -0.61% -0.27% -0.39% -0.39% -0.28% -0.89% -0.75% -0.95% -0.86% -0.66% -0.84% -0.89% -0.98% -1.19% -1.20% -0.95% -1.47% -2.97% -2.97% -3.44% -3.44% -4.01% -3.08% -3.53% 1.25% 1.22% 1.55% 1.61% 1.78% 1.46% 1.88%
8 Danareksa Mawar -1.57% -1.50% -11.57% -1.07% -9.50% 1.45% 6.25% -2.76% -4.11% -5.12% 2.15% 0.37% -4.53% -3.41% -6.87% -5.85% -1.88% -2.80% 5.65% 8.96% 8.81% 1.90% -1.70% -5.19% 3.88% 0.29% -0.10% -0.05% -4.80% 0.27% -2.43% -3.46% -1.05% -2.32% 0.76% -1.33% 1.04% 3.93% 0.44% 3.82% -1.75% -2.69% -0.12% 1.61% -0.72% 5.65% 5.02% -0.10% -5.03% 9.39% -1.64% 0.96% -0.43% -1.37% -0.76% 0.10% -0.60% 0.25% 0.39% 7.97% -0.23% -1.31% -2.12% 2.00% -0.70% -1.07% -1.28% -3.66% 2.00%
9 TRIM Kapital -1.48% -1.52% -13.18% -0.81% -11.89% 2.36% 7.41% -3.42% -4.62% -5.86% 2.47% 1.15% -5.16% -4.33% -7.97% -7.21% -4.79% -1.21% 7.25% 10.35% 12.16% 2.94% -2.86% -6.28% 4.97% -0.18% -0.66% 0.28% -6.48% 0.85% -2.97% -4.85% -1.53% -3.04% 0.84% -1.14% 1.43% 4.91% 0.50% 4.76% -2.43% -3.61% -0.50% 2.58% -0.70% 6.96% 6.62% 0.33% -6.45% 10.87% -2.02% 0.94% -0.52% -1.26% -1.29% 0.24% -0.92% 0.43% 0.69% 7.62% -0.01% -0.99% -2.20% 2.33% -1.05% -1.08% -0.93% -3.97% 2.44%
IHSG -1.28% -0.74% -10.03% -1.76% -10.38% 0.70% 6.44% -2.29% -3.76% -4.36% 1.97% 0.93% -4.19% -3.08% -6.91% -6.30% -4.72% 0.20% 5.41% 7.06% 7.64% 1.26% -0.26% -4.27% 2.33% 0.17% -0.31% -0.74% -5.04% 0.37% -2.17% -3.81% -0.80% -2.15% -0.75% -0.43% 1.12% 3.38% 0.75% 3.28% -1.48% -2.60% 0.10% 1.07% -0.25% 5.30% 3.93% 0.06% -4.08% 7.63% -1.21% 1.57% -0.90% -0.26% -0.22% -0.12% -0.53% 0.32% 1.08% 6.04% -0.13% -0.98% -1.32% 1.00% -0.71% -0.48% -0.92% -3.13% 1.52%
SBI 1 BLN 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.023% 0.023% 0.023% 0.023% 0.023% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.025% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.024% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022%
112
Lanjutan Lampiran 6. Date 1/19/2009 1/20/2009 1/21/2009 1/22/2009 1/23/2009 1/27/2009 1/28/2009 1/29/2009 1/30/2009 2/2/2009 2/3/2009 2/4/2009 2/5/2009 2/6/2009 2/9/2009 2/10/2009 2/11/2009 2/12/2009 2/13/2009 2/16/2009 2/17/2009 2/18/2009 2/19/2009 2/20/2009 2/23/2009 2/24/2009 2/25/2009 2/26/2009 2/27/2009 3/2/2009 3/3/2009 3/4/2009 3/5/2009 3/6/2009 3/10/2009 3/11/2009 3/12/2009 3/13/2009 3/16/2009 3/17/2009 3/18/2009 3/19/2009 3/20/2009 3/23/2009 3/24/2009 3/25/2009 3/27/2009 3/30/2009 3/31/2009 4/1/2009 4/2/2009 4/3/2009 4/6/2009 4/7/2009 4/8/2009 4/13/2009 4/14/2009 4/15/2009 4/16/2009 4/17/2009 4/20/2009 4/21/2009 4/22/2009 4/23/2009 4/24/2009 4/27/2009 4/28/2009 4/29/2009 4/30/2009
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham -0.78% -0.79% -0.79% -0.75% -0.86% -0.64% -0.89% -0.43% -0.54% -0.42% -0.47% -0.61% 0.19% -0.90% -1.78% -2.13% -2.21% -1.90% -2.75% -1.73% -2.30% 0.64% 0.98% 0.60% 0.54% 0.79% 0.22% 0.62% -0.66% -0.51% -1.13% -1.08% -1.16% -0.62% -0.87% 1.40% 1.31% 1.93% 1.81% 2.12% 1.27% 1.19% -1.08% -0.94% -0.97% -1.08% -1.11% -1.11% -0.99% 0.34% -0.01% 0.58% 0.50% 0.49% 0.53% 0.26% 0.88% 1.06% 0.88% 0.84% 1.05% 0.71% 0.52% -1.72% -1.69% -2.00% -1.90% -2.07% -1.71% -1.71% -0.11% -0.08% -0.39% -0.32% -0.19% -0.06% 0.25% 0.84% 0.57% 0.47% 0.59% 0.59% 0.75% 1.15% 0.24% 0.27% 0.42% 0.38% 0.50% 0.43% 0.35% 1.37% 1.01% 2.27% 1.95% 2.20% 1.50% 1.73% -0.45% -0.38% -0.43% -0.37% -0.35% -0.08% -0.60% 0.00% -1.16% -1.27% 0.00% 0.00% 0.00% 0.00% -1.94% -0.64% -0.68% -1.69% -1.68% -1.85% -1.50% 0.38% 0.27% 0.28% 0.25% 0.30% 0.46% 0.23% 0.95% 0.76% 1.14% 1.13% 1.22% 0.92% 1.15% 0.20% 0.31% 0.54% 0.36% 0.47% 0.32% -0.18% -1.61% -2.03% -2.05% -1.61% -1.98% -1.76% -1.73% 0.81% 1.34% 1.21% 1.10% 1.32% 0.84% 0.50% -0.93% -0.52% -0.51% -0.47% -0.15% -0.39% -1.53% -0.86% -1.16% -1.90% -1.65% -1.97% -1.98% 0.23% 0.97% 0.99% 1.17% 1.11% 1.16% 1.28% 1.41% -1.21% -1.26% -1.56% -1.33% -1.32% -1.52% -1.50% 0.40% 0.59% 0.67% 0.72% 0.86% 0.56% 0.19% -0.86% -0.79% -0.95% -1.02% -1.06% -0.91% -1.19% -0.66% -0.74% -0.18% -0.50% -0.47% -0.68% -0.41% -2.34% -2.58% -2.96% -2.64% -2.98% -2.08% -2.58% 0.63% 0.89% 1.00% 0.74% 0.93% 0.74% 1.12% 2.18% 2.16% 2.39% 2.32% 2.71% 2.10% 2.35% -0.33% -0.33% -0.39% -0.49% -0.55% -0.22% -1.03% 0.07% 0.11% 0.00% -0.12% -0.20% -0.07% 0.31% 1.37% 1.32% 1.28% 1.24% 1.41% 1.46% 1.39% 1.03% 1.22% 1.24% 1.24% 1.29% 1.25% 0.84% -0.56% -0.36% -0.62% -0.50% -0.44% -0.56% -0.67% 1.17% 1.11% 1.41% 1.33% 1.37% 1.38% 1.48% -0.27% -0.44% -0.21% -0.15% -0.33% -0.19% -0.41% -0.99% -1.22% -0.99% -0.87% -1.03% -0.73% -1.09% 0.87% 1.17% 1.21% 1.12% 1.40% 1.59% 1.15% 1.45% 1.59% 1.38% 1.44% 1.65% 1.11% 1.30% 1.41% 1.17% 1.04% 1.18% 0.96% 1.12% 1.46% 4.06% 3.96% 4.32% 4.08% 4.47% 3.72% 4.00% 1.67% 1.35% 2.01% 2.15% 2.19% 1.75% 1.85% -1.05% -0.57% -1.31% -1.46% -1.06% -0.69% -1.19% 2.58% 2.40% 2.62% 2.63% 2.91% 2.45% 2.79% -3.05% -2.81% -3.54% -3.55% -3.86% -2.92% -3.23% 1.28% 1.42% 1.14% 1.14% 1.32% 1.38% 0.99% 1.65% 2.07% 2.47% 2.20% 2.31% 1.94% 2.16% 2.36% 2.25% 3.33% 3.02% 3.44% 2.73% 3.06% -0.48% -0.69% -0.22% -0.10% 0.13% -0.34% 0.01% 1.38% 0.70% 1.65% 1.28% 1.32% 0.99% 2.29% -1.90% -2.17% -2.02% -1.83% -2.14% -1.57% -1.99% -1.24% -1.34% -1.63% -1.62% -1.47% -1.16% -0.73% 5.55% 5.02% 6.16% 5.55% 6.54% 4.50% 6.30% 1.30% 1.29% 2.18% 2.34% 2.66% 2.08% 3.43% 1.05% 0.97% 1.23% 0.89% 1.59% 0.78% 1.39% 1.86% 1.89% 1.75% 1.68% 1.86% 1.58% 1.96% 0.64% 0.40% 1.21% 1.04% 1.03% 0.88% 0.67% 0.38% 0.38% 1.62% 1.21% 1.01% 1.14% 3.27% -1.76% -1.77% -1.71% -1.83% -2.14% -1.44% -1.24% -0.55% -0.62% -1.36% -1.09% -0.98% -1.27% -2.23% -1.38% -1.47% -1.70% -1.35% -1.64% -1.47% -1.50% 0.13% -0.10% 0.33% 0.23% 0.74% 0.71% 0.80% -0.96% -1.19% -1.03% -1.07% -1.24% -1.26% -1.12% 1.03% 1.32% 1.30% 1.20% 1.07% 1.11% 0.98% 3.09% 3.54% 0.00% 2.96% 3.43% 3.36% 4.11% 5.37% 6.01% 9.43% 5.32% 5.85% 5.18% 5.89%
8 Danareksa Mawar -1.00% -0.47% -1.67% 0.78% -1.05% 2.21% -1.13% -0.24% 1.08% -1.61% -0.35% 0.75% 0.70% 2.46% -0.59% -0.49% -0.25% -0.36% 0.98% 0.11% -1.89% 1.08% 0.16% -1.86% 1.34% -1.11% 0.56% -0.86% -0.44% -2.98% 0.60% 2.40% -0.48% 0.02% 0.91% 0.79% -0.24% 1.12% -0.36% -1.06% 1.10% 1.11% 1.31% 3.62% 1.39% -1.42% 2.39% -3.33% 1.00% 1.58% 2.60% 0.37% 1.66% -1.77% -0.82% 5.49% 2.42% 1.67% 1.58% 1.04% 2.05% -1.76% -1.87% -1.46% 0.76% -1.02% 0.71% 2.98% 5.04%
9 TRIM Kapital -0.74% -0.20% -2.56% 0.75% -1.18% 2.20% -1.15% 0.15% 0.97% -2.09% -0.08% 0.62% 0.59% 2.56% -0.87% -1.16% -0.01% -0.52% 1.33% -0.04% -2.16% 1.18% -0.22% -1.50% 1.27% -1.50% 1.06% -1.23% -0.78% -3.52% 0.80% 2.80% -1.08% -0.10% 1.39% 0.98% 0.42% 1.67% -0.43% -1.18% 1.32% 1.29% 1.36% 4.31% 1.90% -1.14% 2.78% -3.96% 1.24% 2.55% 3.51% 0.24% 1.51% -2.24% -1.10% 6.68% 3.51% 1.24% 1.93% 0.66% 2.44% -2.31% -2.45% -1.87% 0.81% -1.20% 1.18% 3.72% 6.52%
IHSG -0.97% -0.48% -1.69% 0.44% -0.88% 1.60% -1.14% 0.24% 0.61% -1.65% -0.48% 1.23% 0.58% 1.70% -0.62% -0.75% -0.55% 0.05% 1.00% 0.24% -1.79% 0.95% -0.52% -2.02% 1.20% -1.26% 0.33% -0.75% -0.38% -2.28% 0.69% 1.94% -0.10% -0.11% 1.05% 1.10% -0.31% 1.30% -0.20% -0.96% 0.82% 1.42% 1.44% 3.36% 2.10% -1.12% 3.01% -2.98% 1.06% 1.93% 2.60% 0.04% 1.09% -1.70% -1.68% 5.09% 1.94% 1.49% 1.97% 0.60% 1.66% -1.99% -0.84% -1.39% -0.09% -0.96% 1.26% 3.02% 4.78%
SBI 1 BLN 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.022% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.019% 0.018% 0.018% 0.018% 0.018% 0.018% 0.019% 0.019% 0.019% 0.019% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.018% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017% 0.017%
113
Lanjutan Lampiran 6. Date 5/1/2009 5/4/2009 5/5/2009 5/6/2009 5/7/2009 5/8/2009 5/11/2009 5/12/2009 5/13/2009 5/14/2009 5/15/2009 5/18/2009 5/19/2009 5/20/2009 5/22/2009 5/25/2009 5/26/2009 5/27/2009 5/28/2009 5/29/2009 6/1/2009 6/2/2009 6/3/2009 6/4/2009 6/5/2009 6/8/2009 6/9/2009 6/10/2009 6/11/2009 6/12/2009 6/15/2009 6/16/2009 6/17/2009 6/18/2009 6/19/2009 6/22/2009 6/23/2009 6/24/2009 6/25/2009 6/26/2009 6/29/2009 6/30/2009 7/1/2009 7/2/2009 7/3/2009 7/6/2009 7/7/2009 7/9/2009 7/10/2009 7/13/2009 7/14/2009 7/15/2009 7/16/2009 7/17/2009 7/21/2009 7/22/2009 7/23/2009 7/24/2009 7/27/2009 7/28/2009 7/29/2009 7/30/2009 7/31/2009 8/3/2009 8/4/2009 8/5/2009 8/6/2009 8/7/2009 8/10/2009
1 2 3 4 5 6 7 Schroder Dana Schroder Dana Bahana Dana Manulife Dana Batavia Dana Fortis Ekuitas Fortis Pesona Prestasi Plus Istimewa Prima Saham Saham 0.01% 0.26% 0.25% 0.44% 0.56% 0.51% -0.21% 3.12% 3.08% 3.92% 3.65% 4.10% 3.67% 4.26% -0.89% -1.50% -0.40% -0.60% -0.67% -1.27% -0.04% 0.96% 1.07% 1.71% 1.23% 1.23% 1.09% 2.50% 1.71% 2.17% 2.73% 2.24% 2.65% 2.39% 3.88% 2.00% 2.81% 2.65% 2.14% 2.14% 1.70% 2.81% -2.17% -2.36% -1.89% -1.91% -2.07% -2.03% -1.06% 0.21% 1.41% 1.03% 0.66% 0.52% 0.87% 2.57% 0.14% 0.35% 1.05% 0.63% 0.47% 0.68% 0.96% -3.51% -4.56% -4.28% -3.85% -4.59% -4.25% -6.11% -1.15% -2.31% -2.12% -1.54% -1.37% -1.65% -2.75% 3.01% 4.13% 0.00% 2.85% 3.26% 3.72% 3.59% 5.08% 5.01% 9.53% 5.16% 5.58% 4.96% 5.22% 0.31% 0.11% 0.21% 0.12% 0.02% 0.36% 0.35% -0.56% -0.42% -0.57% -0.40% -0.57% -0.44% -0.52% 0.09% -0.11% 0.38% 0.30% 0.01% 0.51% -0.06% -1.94% -2.03% -2.21% -2.04% -2.22% -2.22% -2.10% 2.54% 2.84% 2.16% 2.01% 2.22% 2.10% 2.35% 0.75% 1.07% 0.79% 0.62% 0.48% 1.09% 0.39% 0.84% 0.75% 1.84% 1.26% 1.76% 1.12% 1.55% 5.59% 4.42% 5.57% 5.10% 6.08% 4.63% 6.20% 0.32% 0.36% -0.41% 0.11% 0.02% 0.36% -0.22% 1.11% 1.21% 0.68% 1.00% 1.03% 0.49% 0.70% 1.05% 1.28% 1.08% 1.18% 1.06% 0.94% 1.30% 2.19% 2.71% 3.04% 2.96% 3.04% 2.83% 2.69% -1.42% -1.00% -1.62% -1.41% -1.47% -1.56% -1.25% 1.72% 1.82% 1.97% 1.72% 1.53% 1.82% 1.52% 0.46% 0.17% 0.76% 0.67% 0.44% 0.84% 0.33% -1.42% -1.46% -1.66% -1.60% -1.77% -1.34% -1.41% 0.04% 0.09% -0.22% 0.00% -0.19% -0.15% -0.03% -1.32% -1.14% -1.69% -1.22% -1.16% -1.52% -1.21% -2.21% -2.18% -2.17% -2.16% -2.75% -2.52% -1.79% -0.61% -0.55% -0.17% -0.52% -0.26% -0.28% -0.62% -3.51% -3.21% -3.97% -3.88% -4.16% -3.93% -3.33% 2.59% 2.46% 2.34% 2.33% 2.20% 2.29% 2.29% -0.53% -0.05% -1.11% -0.85% -0.78% -0.60% -1.21% -2.76% -2.28% -3.25% -2.78% -2.70% -3.00% -2.91% 4.25% 3.62% 4.87% 4.52% 4.39% 4.59% 4.29% 2.54% 2.32% 2.91% 2.77% 2.71% 2.64% 2.83% 0.02% -0.01% -0.22% -0.19% -0.14% -0.16% -0.42% -0.10% 0.02% -0.04% -0.03% -0.11% -0.19% 0.11% -0.61% -0.49% -0.73% -0.64% -0.91% -0.79% -0.49% 1.43% 1.35% 1.48% 1.44% 1.34% 1.37% 1.48% 0.24% 0.31% -0.22% 0.11% -0.02% 0.15% 0.29% 0.46% 0.77% 0.40% 0.47% 0.48% 0.52% 0.61% -1.79% -1.55% -2.27% -2.06% -2.11% -2.18% -2.28% 2.92% 2.93% 3.33% 3.07% 2.89% 2.92% 3.00% -0.10% -0.03% 0.14% 0.04% 0.39% 0.20% 0.18% -0.62% -0.35% -0.98% -0.85% -0.95% -0.76% -1.02% -1.91% -1.71% -2.29% -2.17% -1.87% -2.03% -2.38% 1.71% 1.60% 1.91% 1.83% 1.58% 1.90% 1.74% 3.43% 2.96% 3.57% 3.38% 3.30% 3.14% 3.54% 0.20% 0.54% 0.18% 0.12% 0.05% 0.14% -0.25% -0.49% -0.64% -0.71% -0.60% -0.79% -0.63% -0.37% 1.73% 1.55% 2.27% 2.06% 1.92% 2.11% 2.43% -0.64% -0.75% -0.78% -0.85% -0.81% -0.76% -0.76% 1.50% 1.47% 1.67% 1.44% 1.25% 1.50% 1.12% 1.39% 1.57% 1.43% 1.41% 1.38% 1.46% 0.88% 1.35% 0.96% 0.66% 0.97% 0.56% 0.77% 1.13% 1.50% 1.47% 1.53% 1.73% 1.68% 1.85% 1.02% -0.63% -0.70% -0.62% -0.47% -0.37% -0.31% -0.65% 4.02% 4.20% 4.09% 3.81% 4.10% 3.99% 4.48% 1.96% 1.79% 1.94% 1.47% 1.55% 1.52% 2.13% 0.63% 0.42% 0.66% 0.58% 0.66% 0.70% 0.49% 0.85% 0.84% 1.00% 0.95% 0.85% 0.74% 0.98% -2.46% -2.53% -2.28% -2.20% -2.53% -2.60% -2.08% 1.93% 1.84% 2.11% 1.74% 1.71% 1.48% 2.05% -0.44% -0.31% 0.00% -0.54% -0.57% -0.45% -0.69% 1.52% 1.59% 0.94% 1.55% 1.43% 1.69% 1.73%
8 Danareksa Mawar -0.35% 3.93% 0.26% 2.08% 2.37% 3.13% -1.74% 1.50% -0.01% -5.10% -2.03% 3.00% 5.01% 0.50% -0.82% 0.45% -2.13% 1.98% 0.28% 1.66% 7.28% -0.84% 1.06% 1.10% 2.77% -2.15% 1.93% 0.90% -1.53% 0.00% -1.74% -2.02% -0.49% -4.19% 2.06% -1.52% -3.15% 4.91% 2.36% -0.18% -0.09% -0.78% 1.61% 0.11% 0.24% -2.51% 3.48% -0.50% -1.16% -2.42% 1.46% 3.63% -0.40% -0.27% 2.99% -0.72% 1.92% 0.87% 1.41% 1.55% -0.77% 4.00% 2.07% 0.70% 1.13% -2.14% 2.52% -1.11% 1.68%
9 TRIM Kapital 0.30% 4.54% -0.60% 2.53% 3.86% 3.16% -1.23% 2.18% 0.94% -6.45% -3.28% 5.03% 5.17% -0.29% -0.64% 0.36% -2.81% 1.94% 0.40% 2.94% 6.11% -0.75% 0.71% 1.36% 3.53% -2.05% 1.39% 1.42% -2.09% -0.45% -2.37% -2.31% -0.23% -4.56% 1.90% -2.71% -4.97% 6.83% 3.40% -0.29% 0.17% -0.89% 1.10% -0.54% -0.17% -2.92% 3.94% -0.48% -1.24% -2.59% 1.92% 3.54% -0.21% -0.89% 3.41% -1.00% 1.51% 0.91% 0.63% 2.01% -0.96% 4.68% 2.48% 0.16% 1.11% -2.19% 2.85% -1.10% 2.07%
IHSG 0.40% 3.39% -0.90% 1.48% 1.70% 1.84% -1.71% 0.62% 0.51% -3.58% -1.91% 3.01% 4.57% -0.02% -0.21% 0.49% -1.77% 1.90% 0.53% 0.73% 4.26% 0.00% 0.61% 1.08% 2.27% -1.07% 1.78% 0.74% -0.91% 0.06% -1.01% -1.91% -0.27% -3.65% 2.02% -0.78% -3.07% 4.25% 2.43% -0.19% -0.32% -0.34% 1.63% 0.28% 0.46% -1.94% 2.37% 0.03% -1.00% -2.08% 1.80% 3.24% -0.25% -0.55% 1.91% -0.98% 1.65% 1.15% 1.07% 1.27% -0.50% 3.25% 1.09% 0.67% 0.91% -1.82% 1.85% -0.46% 1.72%
SBI 1 BLN 0.017% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.016% 0.015% 0.015% 0.015% 0.015% 0.015% 0.016% 0.016% 0.016% 0.016% 0.016% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015%
114
Lanjutan Lampiran 6. Date 8/11/2009 8/12/2009 8/13/2009 8/14/2009 8/18/2009 8/19/2009 8/20/2009 8/21/2009 8/24/2009 8/25/2009 8/26/2009 8/27/2009 8/28/2009 8/31/2009 9/1/2009 9/2/2009 9/3/2009 9/4/2009 9/7/2009 9/8/2009 9/9/2009 9/10/2009 9/11/2009 9/14/2009 9/15/2009 9/16/2009 9/17/2009 9/24/2009 9/25/2009 9/28/2009 9/29/2009 9/30/2009 10/1/2009 10/2/2009 10/5/2009 10/6/2009 10/7/2009 10/8/2009 10/9/2009 10/12/2009 10/13/2009 10/14/2009 10/15/2009 10/16/2009 10/19/2009 10/20/2009 10/21/2009 10/22/2009 10/23/2009 10/26/2009 10/27/2009 10/28/2009 10/29/2009 10/30/2009 11/2/2009 11/3/2009 11/4/2009 11/5/2009 11/6/2009 11/9/2009 11/10/2009 11/11/2009 11/12/2009 11/13/2009 11/16/2009 11/17/2009 11/18/2009 11/19/2009 11/20/2009
1 2 3 4 5 6 7 Bahana Dana Manulife Dana Batavia Dana Schroder Dana Schroder Dana Fortis Ekuitas Fortis Pesona Prima Saham Saham Prestasi Plus Istimewa 0.03% -0.28% 0.66% 0.67% 0.58% 0.59% 0.83% -2.19% -2.04% -2.37% -2.18% -2.06% -2.16% -2.33% 2.45% 2.45% 2.63% 2.34% 2.29% 2.41% 1.77% -0.43% -0.37% -0.46% -0.50% -0.46% -0.48% -0.30% -2.06% -1.86% -2.16% -2.07% -2.20% -2.21% -1.76% -2.71% -2.91% -3.16% -2.99% -2.75% -2.81% -3.15% 2.44% 2.39% 2.46% 2.29% 2.35% 2.44% 2.09% 0.35% 0.24% 0.34% 0.31% 0.47% 0.62% 0.20% 2.35% 2.17% 2.35% 2.21% 2.69% 2.39% 2.15% 0.11% 0.12% 0.10% 0.11% 0.14% 0.15% 0.16% -0.16% -0.08% -0.27% -0.25% -0.21% -0.14% -0.25% -1.16% -0.94% -1.30% -1.16% -1.27% -0.97% -1.21% 0.81% 0.68% 0.87% 0.88% 0.73% 0.85% 0.78% -1.15% -0.96% -1.36% -1.37% -1.30% -1.38% -1.38% -1.01% -0.85% -1.06% -0.94% -1.06% -1.16% -0.75% -1.59% -1.59% -1.72% -1.77% -1.90% -1.59% -1.80% 1.50% 1.17% 1.96% 1.69% 1.52% 1.75% 1.51% 0.08% 0.33% -0.08% -0.06% 0.00% -0.13% -0.08% 0.81% 0.68% 0.58% 0.72% 0.63% 0.69% 0.79% 1.43% 1.23% 1.65% 1.50% 1.59% 1.70% 1.37% 0.76% 0.83% 0.51% 0.54% 0.72% 0.93% 0.22% 1.33% 1.22% 1.38% 1.22% 1.36% 1.29% 1.11% 0.35% 0.27% 0.24% 0.26% 0.10% 0.10% 0.13% -1.37% -1.31% -1.44% -1.31% -1.36% -1.56% -1.32% 1.88% 1.71% 1.79% 1.74% 1.80% 1.43% 1.58% 0.87% 0.56% 1.03% 0.86% 0.79% 0.87% 0.69% 0.71% 1.01% 0.63% 0.57% 0.71% 1.05% 0.74% 0.60% 0.74% 0.19% 0.26% 0.23% 0.36% 0.45% -1.02% -1.06% -0.93% -0.90% -0.76% -0.96% -0.89% -2.39% -2.52% -2.16% -2.10% -2.37% -2.32% -2.20% 2.32% 2.39% 2.22% 2.18% 2.36% 2.47% 2.23% 1.46% 1.77% 1.15% 1.14% 1.38% 1.43% 1.35% 0.21% 0.21% 0.31% 0.27% 0.13% 0.09% 0.10% 0.06% -0.01% 0.19% 0.00% -0.07% 0.20% 0.11% -0.05% -0.16% 0.32% 0.14% -0.07% 0.17% 0.12% 2.35% 2.27% 1.93% 2.07% 2.35% 2.48% 1.95% -0.40% -0.80% -0.46% -0.23% -0.17% -0.38% -0.48% -1.30% -1.33% -1.19% -1.22% -1.32% -0.94% -1.28% -0.33% -0.10% -0.38% -0.52% -0.62% -0.70% -0.35% -0.64% -0.49% -0.72% -0.68% -0.67% -0.67% -0.74% 0.49% 0.43% 0.42% 0.51% 0.37% 0.40% 0.60% 1.77% 1.49% 2.00% 1.82% 1.88% 1.84% 1.71% 0.49% 0.56% 0.36% 0.43% 0.40% 0.30% 0.19% -0.04% 0.05% -0.07% -0.16% -0.15% -0.24% -0.05% 0.27% -0.02% 0.29% 0.34% 0.41% 0.26% 0.40% -0.86% -0.54% -0.98% -0.89% -1.05% -0.66% -1.03% -1.12% -0.98% -1.15% -1.09% -1.01% -1.24% -0.97% -1.86% -1.92% -1.92% -1.77% -1.82% -1.84% -1.86% 1.67% 1.50% 1.71% 1.64% 1.81% 1.81% 1.57% 0.21% 0.24% 0.14% 0.13% -0.04% -0.03% 0.04% -1.73% -1.69% -1.94% -1.81% -1.71% -1.87% -1.93% -2.91% -2.88% -3.41% -3.21% -3.13% -3.18% -3.18% -0.54% -0.36% -0.11% -0.25% -0.48% -0.28% -0.27% 1.36% 1.36% 1.23% 1.13% 1.27% 1.41% 0.75% 0.16% 0.22% 0.23% 0.25% -0.13% 0.08% 0.26% -1.59% -1.25% -1.85% -1.78% -1.63% -1.37% -1.74% 1.41% 0.96% 2.01% 1.71% 1.68% 1.42% 1.60% -0.27% 0.03% -0.30% -0.24% -0.26% -0.05% -0.14% 1.55% 2.27% 1.38% 1.45% 1.30% 1.52% 1.30% 0.74% 0.81% 0.38% 0.47% 0.61% 0.63% 0.42% -1.00% -1.11% -1.25% -1.09% -1.10% -0.96% -0.93% 0.99% 0.80% 1.04% 0.91% 0.94% 0.48% 0.88% 0.73% 0.60% 0.79% 0.68% 0.79% 0.73% 0.66% 0.18% 0.13% 0.33% 0.36% 0.18% 0.18% 0.34% 2.07% 1.66% 2.10% 1.97% 2.09% 1.89% 1.91% 0.19% 0.09% 0.13% 0.25% 0.37% 0.14% 0.18% 0.41% 0.34% 0.42% 0.48% 0.40% 0.25% 0.36% -0.79% -0.78% -0.82% -0.79% -1.02% -0.62% -0.73% 0.78% 0.43% 0.77% 0.68% 0.74% 0.33% 0.67%
8 Danareksa Mawar 1.21% -2.43% 3.09% -0.48% -2.33% -3.47% 2.38% 0.00% 2.57% 0.04% -0.34% -1.49% 0.78% -1.68% -0.94% -1.75% 1.99% 0.00% 0.59% 2.18% -0.04% 1.23% 0.43% -1.07% 2.05% 1.40% -0.17% 0.22% -0.79% -2.35% 1.78% 0.99% 0.04% 0.04% -0.01% 1.62% -0.24% -1.00% -0.31% -0.67% 0.28% 2.14% 0.24% 0.01% 0.47% -1.36% -0.94% -1.76% 1.50% -0.01% -2.09% -3.60% -0.24% 0.86% 0.00% -2.00% 2.40% -0.68% 0.72% 0.32% -1.31% 1.84% 0.19% 0.36% 2.69% 0.37% 0.60% -0.93% 1.41%
9 TRIM Kapital 0.00% -1.42% 3.97% -0.47% -2.55% -4.70% 3.18% -0.01% 3.85% -0.01% -0.13% -1.80% 0.51% -2.35% -1.14% -2.21% 2.59% -0.54% 0.53% 2.84% 0.24% 1.46% 0.22% -2.22% 2.47% 1.56% 0.33% -0.53% -0.53% -2.31% 2.29% 1.19% -0.24% -0.40% 0.48% 1.91% -0.30% -1.19% -0.43% -0.82% 0.12% 2.17% 0.10% -0.25% 0.49% -1.39% -0.72% -2.02% 1.58% 0.05% -1.91% -4.26% 0.15% 0.81% 0.18% -2.31% 2.19% -0.73% 1.94% 0.24% -1.55% 1.93% -0.19% 0.64% 1.76% 0.16% 0.04% -1.14% 1.25%
IHSG 0.41% -2.16% 2.09% -0.40% -2.09% -2.53% 2.23% 0.23% 1.80% 0.20% -0.02% -1.01% 0.90% -1.50% -0.62% -1.76% 1.59% 0.02% 0.76% 1.32% 0.51% 1.20% 0.17% -1.38% 1.57% 0.80% 0.72% 0.48% -0.98% -1.91% 1.92% 0.97% 0.42% 0.08% 0.02% 1.92% -0.58% -1.15% -0.41% -0.72% 0.62% 1.61% 0.15% 0.02% 0.20% -0.74% -1.02% -1.76% 1.43% -0.01% -1.72% -2.88% -0.48% 1.01% 0.17% -1.58% 1.62% -0.20% 1.18% 0.47% -1.02% 0.92% 0.68% 0.27% 1.73% 0.21% 0.42% -0.62% 0.75%
SBI 1 BLN 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.015% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014%
115
Lanjutan Lampiran 6. Date 11/23/2009 11/24/2009 11/25/2009 11/26/2009 11/30/2009 12/1/2009 12/2/2009 12/3/2009 12/4/2009 12/7/2009 12/8/2009 12/9/2009 12/10/2009 12/11/2009 12/14/2009 12/15/2009 12/16/2009 12/17/2009 12/21/2009 12/22/2009 12/23/2009 12/28/2009 12/29/2009 12/30/2009
Date 2005 2006 2007 2008 2009 Average Return Standard Deviasi Beta SHARPE JENSEN
1 2 3 4 5 6 7 Bahana Dana Manulife Dana Batavia Dana Schroder Dana Schroder Dana Fortis Ekuitas Fortis Pesona Prima Saham Saham Prestasi Plus Istimewa -0.32% -0.11% -0.24% -0.17% -0.07% -0.27% -0.33% -0.48% -0.66% -0.46% -0.43% -0.39% -0.35% -0.47% -0.71% -0.77% -0.61% -0.53% -0.45% -0.41% -0.45% -3.16% -3.22% -3.07% -2.92% -2.99% -2.71% -2.99% 1.20% 1.40% 0.91% 0.86% 1.16% 1.20% 0.73% 1.63% 1.46% 1.78% 1.77% 1.53% 1.26% 1.79% 0.82% 0.94% 0.94% 0.89% 0.70% 0.93% 0.87% 1.24% 0.98% 1.23% 1.28% 1.35% 1.26% 1.23% 0.53% 0.55% 0.55% 0.60% 0.80% 0.68% 0.54% -1.16% -1.25% -1.20% -1.15% -0.97% -0.89% -1.22% 0.22% 0.09% 0.07% 0.09% 0.12% 0.21% 0.08% 0.00% 0.44% -0.07% 0.01% -0.26% -0.32% -0.18% 0.30% 0.50% 0.15% 0.14% 0.08% 0.30% 0.21% 1.38% 1.45% 1.24% 1.28% 1.30% 1.23% 1.06% -0.69% -0.70% -0.44% -0.41% -0.69% -0.31% -0.31% -0.49% -0.59% -0.56% -0.54% -0.49% -0.40% -0.55% 1.25% 1.17% 1.17% 1.12% 1.32% 1.31% 1.38% -0.73% -0.66% -0.77% -0.75% -0.55% -0.55% -0.61% -3.58% -3.90% -3.54% -3.48% -3.33% -3.40% -3.53% 1.80% 1.79% 1.51% 1.44% 1.19% 1.17% 1.46% 0.43% 0.17% 0.28% 0.29% 0.35% 0.41% 0.26% 1.52% 1.42% 1.73% 1.56% 1.80% 1.20% 1.56% 0.32% 0.37% 0.33% 0.25% 0.15% -0.01% 0.32% 0.44% 0.66% 0.47% 0.53% 0.41% 0.62% 0.45%
Schroder Dana Prestasi Plus 13.61% 47.66% 47.14% -45.25% 72.66% 27.17% 0.45597 0.995 0.489496152 0.060
8 Danareksa Mawar -0.22% -0.61% -0.45% -3.33% 0.31% 2.53% 0.96% 1.53% 0.25% -1.47% -0.06% 0.03% -0.30% 1.00% -0.74% -0.77% 1.07% -0.96% -3.61% 1.61% 0.32% 1.91% 0.54% 0.00%
9 TRIM Kapital -0.22% -0.85% -0.95% -3.45% 0.52% 2.05% 0.99% 1.41% 0.35% -1.40% -0.32% 0.65% -0.05% 1.07% -0.54% -0.64% 1.10% -0.75% -3.79% 1.63% 0.31% 1.80% 0.74% 0.26%
IHSG -0.24% -0.38% -0.42% -2.76% 0.93% 1.52% 0.78% 1.15% 0.46% -1.11% 0.01% -0.10% 0.21% 1.31% -0.50% -0.46% 1.11% -0.51% -3.12% 1.49% 0.29% 1.41% 0.37% 0.61%
SBI 1 BLN 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014% 0.014%
Schroder Bahana Dana Manulife Batavia Dana Danareksa Dana Fortis Ekuitas Fortis Pesona TRIM Kapital 1/0/1900 SBI 1 BLN Prima Dana Saham Saham Mawar Istimewa 14.80% 29.17% 15.88% 12.28% 22.04% 18.72% 13.32% 34.36% 11.90% 4.47% 46.54% 49.62% 55.57% 48.80% 49.78% 45.26% 44.11% 60.53% 46.43% 6.45% 47.26% 63.91% 54.01% 54.55% 49.89% 43.15% 50.28% 55.98% 44.65% 4.58% -46.74% -67.01% -56.04% -61.84% -59.60% -48.65% -64.19% -70.63% -62.41% 4.80% 71.96% 80.06% 73.53% 76.75% 73.54% 79.96% 70.72% 74.90% 65.57% 3.92% 26.76% 0.45825 0.995 0.478262923 0.056
31.15% 0.57977 1.085 0.453697579 0.085
28.59% 0.51763 1.042 0.458676726 0.067
26.11% 0.54346 1.115 0.391251179 0.030
27.13% 0.51798 0.996 0.430203958 0.060
27.69% 22.85% 0.47926 0.52827 1.017 1.044 0.476638065 0.340803603 0.062 0.009
31.03% 21.23% 0.58659 0.50577 1.244 1.00 0.446300022 0.323959445 0.058 0.000
4.85% 0.00954 0.000 0 0.000
