This study aims to examine the analysis of the effect of Bank Indonesia certificates Interest Rates (SBI), Inflation Rate, Composite Stock Price Index (IHSG), Singapore Straits Times Index (STI), and Rupiah Exchange Rate on Stock Mutual Fund Returns. The population in this study are equity funds in Indonesia and registered with the Financial services Authority (OJK) with the 2014-2016 period. The sample in this study was selected by using purposive sampling, and from that we have obtained 8 equity funds as the sample. The analysis technique used in this study was multiple linear regression test.
The results showed that the Inflation Rate and Rupiah Exchange Rate had a significant negative effect, as well as the Composite Stock Price Index (IHSG) and the Singapore Straits Times Index (STI) had a significant positive effect on the Stock Mutual Fund Return Rate. While the interest rate for Bank Indonesia Certificates (SBI) does not have a significant effect on the Share Mutual Fund Return Rate