Reksadana Campuran Kenapa Returnya Tinggi?
Dari tahun ke tahun ada saja reksadana campuran yang mendadak viral. Beberapa tahun lalu ada Insight Syariah Berimbang, tahun lalu ada Jarvis Balanced Fund, dan tahun ini ada Syailendra Balanced Opportunity Fund. Reksadana Campuran Kenapa Returnya Tinggi?
Banyak yang bertanya reksadana campuran kenapa returnya tinggi, yang notabene memiliki tingkat risiko dan potensi retur lebih rendah daripada saham, justru berhasil mengalahkan indeks saham.
Kata Kuncinya adalah Fleksibilitas
Aturan komposisi reksadana campuran sangat fleksibel, yakni 0-79% di pasar uang, obligasi, maupun saham.
Berbeda dengan jenis reksadana lain yang lebih bersifat restriktif (misalnya Reksadana saham mewajibkan minimal 79 persen di saham). Dalam RDC, Si fund manager jadi bisa bersifat taktis dalam mengalokasikan dana.
Ketika saham akan bearish, fund manager bisa switching ke obligasi. Di saat obligasi ikut jatuh pun, fund manager bisa hold cash sampai situasi market berubah. Di saat salah satu instrumen akan bangkit lagi, fund manager langsung mengalokasikan cash kembali kesana.
Kemampuan ‘parkir’ inilah yang membuat retur RDC bisa lebih tinggi daripada saham.
Tetap Saja, High Risk High Return
Adalah prinsip yang tidak bisa dibantah sama sekali. Tidak semua reksadana campuran selalu untung. Terkadang metode pengelolaan aktif yang fleksibel ini justru membuat fund manager terlalu spekulasi dan salah ambil keputusan.
Apabila anda terbiasa membandingkan CAGR beberapa reksadana dengan skala waktu panjang (diatas 5 tahun), maka terlihat bahwa hanya sebagian kecil reksadana campuran yang mampu mengalahkan performa indeks di jangka panjang.
Biasanya retur ‘wah’ nya hanya bertahan di periode singkat tertentu saja.
Reksadana Campuran Bagus untuk Pemula, tapi Mungkin Tak Dilirik
Bagi investor profesional yang memiliki rumus sendiri tentang alokasi portfolio, mungkin menilai reksadana campuran kurang cocok. Komposisi reksadana campuran berubah cepat sehingga mengubah eksposur risiko si investor. Misalnya, si investor ahli ini sudah mempunyai rumus portfolio sebagai berikut
- saham 70%
- Obligasi 20%
- Tunai 10%
Nah, bila ia berinvestasi pada reksadana campuran, tentu saja rumusan tersebut tidak bisa dipenuhi setiap saat, karena komposisi reksadana campuran sendiri berubah-ubah tergantung strategi si manajer investasi. Wajar saja, Bibit tidak mengalokasikan reksadana campuran di sistem alokasi otomatis mereka.
Lump Sum atau DCA?
Reksadana pendapatan tetap dan pasar uang biasanya lebih bagus lump sum, dan untuk reksadana saham dan indeks banyak yang lebih suka DCA. Bagaimana dengan reksadana campuran?
Untuk menjawab pertanyaan ini, anda harus bertanya pada si pengelola fund nya: saat ini posisinya sedang lebih banyak pegang cash, obligasi, atau saham? Dari situlah kita bisa menentukan mana entry method terbaik untuk kita.
Untungnya apa dong di Reksadana Campuran?
Bagi pemula yang masih belum memahami market ekuitas maupun fixed income (obligasi), reksadana campuran bisa menjadi opsi yang tepat, karena ketimbang melakukan switching secara mandiri antara saham dan obligasi, kamu mendelegasikan tugas tersebut ke si manajer investasi yang diharapkan lebih pintar mengelola uang kita daripada kita sendiri.
Tp klo dilihat lihat, komposisi rdc endak se fleksibel itu kyanya gan. Saya liat ffs beberapa reksadana dari bulan ke bulan hampir selalu sama persenannya
Jd yg 70% saham misalnya, ya klau berubah cm kisaran 55-80% jadinya. Ttp banyak saham
Begitupun yg banyak obligasi, ttp banyak obli. Saya blum pernah nemu rdc yang komposisi nya bisa berubah diatas 20% untuk satu macam asset.
Lagian klo dibilang naiknya lebih tinggi enda juga sih. Reksadana saham jg pada naik tinggi pas September-November 2020. Kaya cm giliran aja siapa pegang banyak saham nanti giliran nya naik tinggi doang
menurut saya fleksibilitasnya memang tidak tercermin pada ffs yang bersifat bulanan, namun membantu fund manager (FM) dalam pengelolaan sehari-hari. misalnya ada saham yang uptrend sendiri disaat index downtrend, nah ketika FM mau take profit, dia tidak harus cari-cari saham lain yang sedang uptrend juga, tapi hasil penjualannya dipegang sebagai cash atau fixed income. Ibaratnya kita memberikan izin ‘trading multi asset’ ke si FM. Kalau menurut saya, perubahan 10 sampai 15 persen juga sudah cukup berarti sih, mengingat di reksadana jenis lain bahkan ada yang kepemilikan maksimalnya untuk suatu kelas hanya 20%. Soal perbandingan retur, apabila kita cek Bareksa di perbandingan dalam horizon satu sampai 3 tahun maka terlihat jelas RDC lebih banyak yang beating the market.
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