Analisis Faktor Faktor yang Memengaruhi Niat Membeli Reksa Dana

Marthauli Fiona Susilawati, Basu Swastha Dharmmesta, Prof., Dr., M.B.A.

2026 | Tesis | S2 MANAJEMEN (MM) JAKARTA

Dalam era perkembangan pasar modal di Indonesia, reksa dana diakui sebagai instrumen investasi inovatif yang mampu mempermudah diversifikasi aset dan menyederhanakan proses investasi bagi masyarakat umum. Namun, tingkat penetrasi pasar reksa dana di Indonesia saat ini masih tergolong rendah jika dibandingkan dengan total populasi dan jumlah simpanan berjangka di perbankan umum. Penelitian ini bertujuan untuk menganalisis faktor-faktor yang memengaruhi niat membeli reksa dana di kalangan calon investor di Indonesia menggunakan pendekatan Theory of Planned Behavior (TPB) yang dimodifikasi. Model penelitian mengintegrasikan variabel berupa Persepsi Kriteria Investasi dan Pengetahuan Terhadap Produk Reksa Dana yang dianalisis pengaruhnya terhadap Sikap Terhadap Merek Manajer Investasi dan Sikap Terhadap Produk Reksa Dana, serta dampaknya terhadap Niat Membeli Reksa Dana. Penelitian ini menggunakan pendekatan kuantitatif eksplanatori dengan desain cross-sectional melalui survei kuesioner daring terhadap minimal 200 responden calon investor yang memenuhi kriteria purposif. Analisis data dilakukan dengan menggunakan metode Structural Equation Modeling (SEM). Hasil penelitian ini secara akademis diharapkan dapat memvalidasi hubungan struktural antardeterminan perilaku investasi, serta secara praktis memberikan implikasi strategis bagi PT Bahana TCW Investment Management (BTIM) dalam menyusun pendekatan edukatif dan komunikasi pemasaran yang efektif guna memperkuat citra merek dan meningkatkan penerimaan produk reksa dana di Indonesia.

In the era of capital market development in Indonesia, mutual funds are recognized as an innovative investment instrument capable of facilitating asset diversification and simplifying the investment process for the general public. However, the market penetration rate of mutual funds in Indonesia is currently still relatively low compared to the total population and commercial bank time deposits. This study aims to analyze the factors influencing mutual fund purchase intention among potential investors in Indonesia using a modified Theory of Planned Behavior (TPB) approach. The research model integrates variables consisting of Perceived Investment Criteria and Knowledge of Mutual Fund Products, analyzing their effects on Brand Attitude towards Fund Managers and Product Attitude towards Mutual Funds, as well as their ultimate impact on Mutual Fund Purchase Intention. This study adopts an explanatory quantitative approach with a cross-sectional design through an online questionnaire survey conducted among a minimum of 200 potential investor respondents who meet the purposive criteria. Data analysis is performed using the Structural Equation Modeling (SEM) method. The results of this study are academically expected to validate the structural relationships between the determinants of investment behavior and practically provide strategic implications for PT Bahana TCW Investment Management (BTIM) in formulating effective educational approaches and marketing communications to strengthen brand equity and increase the acceptance of mutual fund products in Indonesia.

Kata Kunci : Reksa Dana, Niat Membeli, Sikap Terhadap Merek, Pengetahuan Produk, Persepsi Kriteria Investasi, Structural Equation Modeling (SEM).