Perpustakaan Digital ITB

People nowadays must not live in uncertainty life. Every step must be planned to have successful life. It is the same with finance life. This research talks about financial planning with the goal of retirement fund. Strategies that be used for this goal is investments. The appropriate investment for retirement fund is long-term period. Ideal time to collect money for retirement fund is 15 to 20 years. In long-term period, people can use higher return and risk of investment. There are four types of long-term period investment instruments used in this research, those are: land property in Tangerang Selatan, property and real estate sector of stock, gold, and Jakarta Composite Index (JCI). South Tangerang is a developing city; government invests money for building infrastructures and lot of facilities. The growth of populations in Tangerang Selatan has tremendous increase, so it is good place for investing money in land property. Property and real estate sector of stock is sector that has highest return among others in stock. Gold is well-known investment instrument and tend to increase each year. JCI is used as the benchmark. Tangerang Selatan is divided into four housings for the analysis. Property and real estate sector of stock has 43 issuers but this research only analyze 13 issuers those are liquid stock. The assumption of liquid is having volume transaction above 800,000 and the value transaction above IDR 800,000,000. All of the calculation is based on four years data of each investment instruments. There are three methods to compare the performance of four investment instruments for the long-term period investment; those are Risk and Return Analysis, Beta Coefficient on Capital Asset Pricing Model, and Performance Evaluation (Sharpe and Treynor’s measure). This research also analyzes coefficient correlation to find good portfolio diversification. Good performance of investment instrument has high return, low risk, high point of sharpe ratio compared to sharpe market, and high point of treynor ratio compared to market. And good portfolio diversification has negative point of coefficient correlation. For overall performance, best performance is based on sharpe ratio. Based on the research, LPCK, one of issuers in property and real estate sector of stock, has the highest return among all. For risk, Bumi Serpong Damai, one of housing in Tangerang Selatan, has the lowest risk. For Sharpe ratio, BSDE, one of stock in property and real estate, has the highest point of sharpe ratio. BSDE performs best performance in this research.