on and reports the following thr

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A fund begins with $10 million and reports the following three-month results (with negative figures in parentheses):
Exercise 2
A fund begins with $10 million and reports the following three-month results (with negative
figures in parentheses):
Month:
1
2
Net cashflows (end of month, $ million)
-10
-3.0
-5
18.486
HPR (%)
2.0
8.0
(4.0)
Compute the arithmetic, time-weighted, and dollar-weighted average returns.
Transcribed Image Text:Exercise 2 A fund begins with $10 million and reports the following three-month results (with negative figures in parentheses): Month: 1 2 Net cashflows (end of month, $ million) -10 -3.0 -5 18.486 HPR (%) 2.0 8.0 (4.0) Compute the arithmetic, time-weighted, and dollar-weighted average returns.
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