DOI: https://doi.org/10.9744/jmk.22.2.115-121

AN EMPIRICAL STUDY ON PENSION FUNDS’ PORTFOLIO AND INVESTMENT PERFORMANCE: THE EFFECT OF PENSION FUNDS’ SIZE

Yulia Vidya Nanda, Apriani Dorkas Rambu Atahau

Abstract


This study seeks to investigate whether larger pension funds exhibit better investment performance than smaller ones and differences in the selection of investment instruments between large and small pension funds. Our research sample is 13 pension funds that are the members of BKS Dapen-KI (Badan Kerja Sama Dana Pensiun Kristen Indonesia – the Cooperation Council of Christian Pension Fund in Indonesia) in 2010-2017. We use the quantitatively descriptive and independent-sample t-test methods. The results indicate no significant difference between the performance of large and small pension funds likely because both pension fund types have relatively similar total assets. However, large and small pension funds have exhibit different investment instruments selection.


Keywords


Pension fund size, return on investment, investment instruments

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DOI: https://doi.org/10.9744/jmk.22.2.115-121




The Journal is published by Management Study Program, Faculty of Business and Economics, Petra Christian University. It available online supported by Directorate General of Higher Education - Ministry of Research, Technology and Higher Education of the Republic of Indonesia.

©All right reserved 2016.Jurnal Manajemen dan Kewirausahaan, ISSN: 1411-1438, e-ISSN: 2338-8234

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