+6221–3503142 secretariat@cisfed.org

Throughout 2015, the performance of Shariah compliant mutual funds in Indonesia has been less than satisfactory despite the increase in the number of Shariah compliant mutual funds in 2015 to 86 (most current available data from the Otoritas Jasa Keuangan (OJK) as of November 2015) from 74 in 2014. The total net asset value (NAV) of Shariah compliant mutual funds went down to IDR10.77 trillion (US$782.76 million) in 2015 from IDR11.16 trillion (US$811.11 million) in 2014. Although this decline could be att ributed to the general fall of the country’s stock index, it is not accompanied by an overall decline in the mutual fund industry.

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