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For each of the last six quarters, Managers L and M have provided you with the total dollar value of the funds they manage, along with the quarterly contributions or withdrawals made by their clients. (Note: Contributions are indicated by positive numbers, withdrawals by negative numbers.) Quarter Initial 1 2 3 4 5 Total Funds Under Management MANAGER L $487,000 513,000 529,000 542,000 577,000 604,000 % % % Contributions/ Withdrawals For each manager, calculate: a. her money-weighted return. Do not round intermediate calculations. Round your answers to two decimal places. Money-weighted return (Manager L): 11,000 5,500 11,500 2,500 17,000 Money-weighted return (Manager M): b. her time-weighted return. Do not round intermediate calculations. Round your answers to two decimal places. Time-weighted return (Manager L): 2 3 4 MANAGER M 5 Total Funds Contributions/ Under Management Withdrawals $699,000 688,000 666,000 617,000 631,000 611,000 Time-weighted return (Manager M): % c. estimates of her quarterly performance returns using the Dietz approximation method, assuming contributions/withdrawals are made exactly halfway through the quarter. Do not round intermediate calculations. Round your answers to two decimal places. Use a minus sign to enter negative values, if any. Quarter Return (Manager L) Return (Manager M) 1 % % % % % -37,000 -37,000 -37,000 -37,000 -37,000 % % % % %

For each of the last six quarters, Managers L and M have provided you with the total dollar value of the funds they manage, along with the quarterly contributions or withdrawals made by their clients. (Note: Contributions are indicated by positive numbers, withdrawals by negative numbers.) Quarter Initial 1 2 3 4 5 Total Funds Under Management MANAGER L $487,000 513,000 529,000 542,000 577,000 604,000 % % % Contributions/ Withdrawals For each manager, calculate: a. her money-weighted return. Do not round intermediate calculations. Round your answers to two decimal places. Money-weighted return (Manager L): 11,000 5,500 11,500 2,500 17,000 Money-weighted return (Manager M): b. her time-weighted return. Do not round intermediate calculations. Round your answers to two decimal places. Time-weighted return (Manager L): 2 3 4 MANAGER M 5 Total Funds Contributions/ Under Management Withdrawals $699,000 688,000 666,000 617,000 631,000 611,000 Time-weighted return (Manager M): % c. estimates of her quarterly performance returns using the Dietz approximation method, assuming contributions/withdrawals are made exactly halfway through the quarter. Do not round intermediate calculations. Round your answers to two decimal places. Use a minus sign to enter negative values, if any. Quarter Return (Manager L) Return (Manager M) 1 % % % % % -37,000 -37,000 -37,000 -37,000 -37,000 % % % % %

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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For each of the last six quarters, Managers L and M have provided you with the total dollar value of the funds they manage, along with the quarterly contributions or withdrawals made by their clients. (Note: Contributions are indicated by positive numbers, withdrawals by negative numbers.) MANAGER L Quarter Initial 1 2 3 4 5 Total Funds Under Management $487,000 513,000 529,000 542,000 577,000 604,000 % Contributions/ Withdrawals % 11,000 5,500 11,500 2,500 17,000 % MANAGER M For each manager, calculate: a. her money-weighted return. Do not round intermediate calculations. Round your answers to two decimal places. Money-weighted return (Manager L): Total Funds Under Management $699,000 688,000 666,000 617,000 631,000 611,000 Money-weighted return (Manager M): b. her time-weighted return. Do not round intermediate calculations. Round your answers to two decimal places. Time-weighted return (Manager L): Contributions/ Withdrawals -37,000 -37,000 -37,000 -37,000 -37,000 Time-weighted return (Manager M): % c. estimates of her quarterly performance returns using the Dietz approximation method, assuming contributions/withdrawals are made exactly halfway through the quarter. Do not round intermediate calculations. Round your answers to two decimal places. Use a minus sign to enter negative values, if any. Quarter Return (Manager L) Return (Manager M) 1 % % 2 % % 3 % % 4 % % 5 % %
Transcribed Image Text:For each of the last six quarters, Managers L and M have provided you with the total dollar value of the funds they manage, along with the quarterly contributions or withdrawals made by their clients. (Note: Contributions are indicated by positive numbers, withdrawals by negative numbers.) MANAGER L Quarter Initial 1 2 3 4 5 Total Funds Under Management $487,000 513,000 529,000 542,000 577,000 604,000 % Contributions/ Withdrawals % 11,000 5,500 11,500 2,500 17,000 % MANAGER M For each manager, calculate: a. her money-weighted return. Do not round intermediate calculations. Round your answers to two decimal places. Money-weighted return (Manager L): Total Funds Under Management $699,000 688,000 666,000 617,000 631,000 611,000 Money-weighted return (Manager M): b. her time-weighted return. Do not round intermediate calculations. Round your answers to two decimal places. Time-weighted return (Manager L): Contributions/ Withdrawals -37,000 -37,000 -37,000 -37,000 -37,000 Time-weighted return (Manager M): % c. estimates of her quarterly performance returns using the Dietz approximation method, assuming contributions/withdrawals are made exactly halfway through the quarter. Do not round intermediate calculations. Round your answers to two decimal places. Use a minus sign to enter negative values, if any. Quarter Return (Manager L) Return (Manager M) 1 % % 2 % % 3 % % 4 % % 5 % %
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