Analisis Investasi Dalam Menentukan Portofolio Optimal Di Bursa Efek Jakarta

Abstract

This research is an effort to show how to analyse an investment by diversificating in order to minimize the risk and to gain expected profit through Simple Criteria for Optimal Portfolio Selection (SCOPS) method supported by Capital Asset Pricing Model (CAPM) method as a comparative factor. Data were taken from Index LQ 45 which having the bigest capitalization and liquid in trading frequency. Sampling with drawal was done with certain creterians and 27 selected from 45 population. Results of this research indicates that beta as a risk measurement reffecting less influence on market. 27 from selected samples 5 of them become optimal portfolio candidates among others Lippo Land Devlopment (LPLD), Astra International Inc (ASII), Telkom (TLKM), Lippo Bank (LPBN), and Barito Pacific Timber (BRPT) with each Excess Return to Beta (ERB) 2.2576, 2.0407, 0.5102, 0.4576 and 0.2801 which is higher than cut off rate (C*) namely 0.1106. The proportion of invested funds on each share 16.65 % for LPLD, 56.91 % for ASII, 14.82 for TLKM, 5.20 % for LPBN, and 6.42 % for BRPT with return portfolio ( ) 0.0406 and portfolio risk ( ) 1.5839. It is concluded that SCOPS method has been functioned in line with this research of which the selected shere become optimal portfolio candidate is the best diversification although the resnlt of test corelation is not significant