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If the quarterly returns are 10%, 15%, -8% and 4%, what is the time weighted rate of return.
Is it
a) 1 - 1.1*1.15*0.92*1.04
or
b) 1 - (1.1*1.15*0.92*1.04)^1/4
(a) is the yearly rate of return for 1 year while (b) is the annual rate of return for 4 periods(quarters in this case). In the exam should we go for (a) or (b) |
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发表于 2011-7-11 18:22
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