标题: TWR vs MWR [打印本页] 作者: jbaldyga 时间: 2011-7-13 13:04 标题: TWR vs MWR
Compare the two as the performance measures.
Advantages and disadvantages?作者: aidebaobao 时间: 2011-7-13 13:04
MWR better when PM controls the CF (PE and RE unds)
TWR better measure as it encompasses all cash flows
TWR can be cumbersome if CFs occur daily
MWR is done via a computer (IRR calc)
MWR skews returns if large CF occurs just prior to a large increase/decrease in the portfolio作者: thommo77 时间: 2011-7-13 13:04
MWR calculates the average grwoth of all dollars while TWR reflects a single unit of money initially invested in the account作者: wake2000 时间: 2011-7-13 13:04
MWR could be deemed preferable if the portfolio manager can choose the timing of capital contributions.
