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"Tesis ini membahas optimalisasi portofolio investasi pada reksa dana melalui penerapan Risk Budgeting, dengan studi kasus pada perusahaan manajemen investasi. Risk Budgeting adalah proses pengalokasian risiko secara top-down, Proses Risk Budgeting dimulai dengan mengalokasikan sejumlah risiko pada sekelompok aset, manajer portofolio atau sekuritas, yang kemudian dialokasikan menyebar pada masing-masing anggota kelompok, yang memiliki korelasi rendah satu sama lain, sehingga jumlah risiko portofolio lebih rendah daripada gabungan risiko masing-masing unsur secara individual. Penelitian int adalah penelitian dengan metoda kuantitatif. Penentuan portofolio optimal dilakukan dengan pendekatan Markowitz dan SingleIndex. Hasil penelitian menyarankan agar manajer investasi mengikuti alokasi aset sesuai prospektus puna memenuhi risk appetite dari investor.

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This thesis discusses about the optimization of investment portfolio in a mutual fund (reksa dana} through the implementation of Risk Budgeting, with a case study in an investment management company. Risk Budgeting is a process of risk allocation in a top-down basis. The process is started with the allocation of an amount of risk to a parcel of assets, portfolio managers or Securities, which then diversified over elements of those assets, portfolio managers or securities which has low correlation each other, in order to lower the portfolio's risk compared to the sum of individual risks. This research applies quantitative method, using Markowitz approach as well as Single-Index approach. The research recommends that investment manager should follow asset allocation as guided by the prospectus of mutual fund under management in order to fulfill the investor's risks appetite. "

"Latar belakang riset ini adalah perhatian tentang banyaknya pencemaran lingkungan di sekitar sumur minyak tua, sebagai akibat dari operasi sumur minyak tua. Menggunakan studi kasus di Wilayah Kerja Pertambangan PT X, kontraktor migas nasional, riset ini bertujuan untuk menganalisis hubungan antara peran pemangku kepentingan satu dan lainnya dan hubungan antara beberapa faktor lingkungan sosial di sekitar sumur minyak tua pada keberlanjutan ekonomi, keberlanjutan lingkungan, dan keberlanjutan sosial di sekitar sumur minyak tua, serta membangun model analisis untuk mewujudkan keberlanjutan dalam penambangan sumur minyak tua. Metoda riset yang digunakan adalah metode kuantitatif dan dilengkapi dengan metode kualitatif (mixed method). Data primer riset diperoleh melalui survei di dua desa dalam kawasan sumur minyak tua, Dinas Lingkungan Hidup, Bappeda Kabupaten, dan Badan Usaha Milik Daerah (BUMD) dimana sumur minyak tua berada, serta wawancara mendalam dan focused group discussion (FGD) dengan para informan yang terdiri dari tenaga ahli di bidang yang relevan. Pengolahan data riset dan analisis menggunakan Structural Equation Modelling (SEM) dan Interpretive Structural Modelling (ISM). Hasil pengujian hipotesis menunjukkan bahwa peran BUMD dan peran Kontraktor-melalui-BUMD berpengaruh pada peningkatan keberlanjutan ekonomi di sumur minyak tua; peran Kontraktor berpengaruh pada peningkatan keberlanjutan lingkungan di sumur minyak tua; peran pemerintah Kabupaten berpengaruh pada penurunan keberlanjutan sosial, sedangkan peran Kontraktor berpengaruh pada peningkatan keberlanjutan sosial di sumur minyak tua. Terdapat beberapa faktor lingkungan sosial yang berpengaruh pada kondisi keberlanjutan sumur minyak tua saat ini, yang utama adalah kondisi ekonomi masyarakat sekitar sumur minyak tua, yang berpengaruh pada penerapan SOP penambangan minyak di sumur minyak tua.

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The background of this research is the concern about pollution in the environment surrounding old oil wells, as a result of the operations of these wells. Using a case study in the Mining Working Area of PT X, a national oil contractor, this research aims to analyze the relationship between various stakeholders and the relationship between several social and environmental factors around the old oil wells, in terms of economic, environmental, and social sustainability in the vicinity of the old oil wells. Additionally, this research aims to develop an analytical model to achieve sustainability in the extraction of oil from old wells. The research methodology used is a quantitative method supplemented with qualitative methods (mixed method). Primary research data was obtained through surveys in two villages located near the old oil wells, the Regency Environmental Agency, the Regency Development Planning Agency, as well as through in-depth interviews and focused group discussions (FGD) with experts in relevant fields. The research data was processed and analyzed using Structural Equation Modelling (SEM) and Interpretive Structural Modelling (ISM). The results of the hypothesis testing show that the role of the Regency government owned company (BUMD) and the role of the Contractor-through-BUMD (Regency Government Owned Enterprises) have an impact on the improvement of economic sustainability in the old oil wells; The Contractor's role affects the improvement of environmental sustainability in the old oil wells; The role of the Regency Government has an impact on the decrease of social sustainability, while the Contractor's role has an impact on the improvement of social sustainability in the old oil wells. There are several social and environmental factors that influence the current state of sustainability of the old oil wells, with the primary factor being the economic condition of the communities surrounding the old oil wells, which affects the implementation of oil extraction standard operating procedures in these wells."