Analysis of Market Timing and Stock Selection Ability on Indonesian Equity Mutual Funds Before and The Ongoing COVID-19 Over the Period of 2015-2021

This research analyzes the market timing and stock selection ability of 25 top gainers and 25 top losers of equity mutual funds in Indonesia before covid-19 and during the pandemic using time series analysis. Using Treynor-Mazuy and Henriksson-Mertons' theory, results show before covid-19, there are 9 and 22 mutual funds that doesn't have market timing ability respectively. Whereas using Jensen's Alpha method, before covid-19 there are 26 mutual funds that doesn't have stock selection ability. As for the period of the ongoing covid-19, there are 20 and 29 mutual funds that doesn't have market timing ability, using Treynor-Mazuy and Henriksson-Merton respectively. There are 28 mutual funds that doesn't have stock selection ability. Therefore, it was concluded that there is a decline in the performance of market timing and stock selection ability of equity mutual funds during the covid-19 pandemic in Indonesia. The majority of mutual funds which lack of market timing and stock selection ability came from the top losers' bracket.