الفهرس 
العنوانOnly 14 pages are availabe for public view
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Abstract
Islamic compliant financial instruments are one of the globally growing financial
service sectors. Financial services based on Islamic finance are virtually an interest for
many global market participants. The objective of this research is to investigate the
performance of Islamic and conventional mutual funds in the context of Egyptian
financial market. Risk and return assessment of Islamic and conventional mutual funds
is conducted using various financial performance measures and risk measures.
The analysis is based on a sample of 6 Islamic mutual funds and 15 conventional
mutual funds and on the time period from May 2008 to April 2015. The Egyptian index
(EGX30) is used as the benchmark for the Egyptian market index. Additionally, the
Morgan Stanley Capital International index for Egyptian Islamic funds (MIEG) and the
Morgan Stanley Capital International index for Egyptian conventional funds (MXEG)
are used as benchmarks for Islamic and conventional mutual funds, respectively.
The results shows that Islamic mutual funds underperformed both conventional mutual
funds and the Egyptian market index. Furthermore, conventional mutual funds
underperformed both the EGX30 and the MXEG. As for risk measures, Islamic funds
had the lowest total and systematic risk whether compared to conventional mutual
funds, EGX30 or MIEG. Moreover, conventional mutual funds had lower total and
systematic risk than the EGX30 and the MXEG.