<![CDATA[This study aims to analyze the performance of equity mutual funds on the Bareksa platform for 2019-2021. The research sample consisted of 40 equity mutual funds selected using purposive sampling. The panel data regression model was used to test the effect of independent variables, including fund cash flow (FCF), fund size (SIZE), fund age (AGE), expense ratio (ER), and turnover ratio (TOR). The analysis showed that the FCF and AGE variables significantly positively affected mutual fund performance. Conversely, the SIZE and TOR variables did not significantly affect performance. The ER variable showed a significant adverse effect on performance. Based on the study’s results, it was concluded that the age of the mutual fund and free cash flow factors were the main determinants in determining the performance of equity mutual funds. At the same time, a high expense ratio tended to decrease performance. These findings provide implications for investors in choosing optimal equity mutual funds.Penelitian ini bertujuan untuk menganalisis kinerja reksadana saham di platform Bareksa periode 2019-2021. Sampel penelitian terdiri dari 40 reksadana saham yang dipilih menggunakan metode purposive sampling. Model regresi data panel digunakan untuk menguji pengaruh variabel independen yang meliputi fund cash flow (FCF), fund size (SIZE), fund age (AGE), expense ratio (ER), dan turnover ratio (TOR). Hasil analisis menunjukkan bahwa variabel FCF dan AGE memiliki pengaruh signifikan positif terhadap kinerja reksadana. Sebaliknya, variabel SIZE dan TOR tidak menunjukkan pengaruh yang signifikan terhadap kinerja. Variabel ER menunjukkan pengaruh signifikan negatif terhadap kinerja. Berdasarkan hasil penelitian, disimpulkan bahwa faktor usia reksadana dan free cash flow merupakan determinan utama dalam menentukan kinerja reksadana saham, sementara rasio pengeluaran yang tinggi cenderung menurunkan kinerja. Temuan ini memberikan implikasi bagi investor dalam memilih reksadana saham yang optimal.]]>
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