开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

返回

🐚 · 2024年09月29日

money weighted 算出来是2.46

  1. CFA I
  2. Quantitative

NO.PZ2023052302000006

问题如下：

A fund receives investments at the beginning of each year and generates returns for three years as follows:


Which return measure over the three-year period is negative?

选项：

A.

Geometric mean return

B.

Time-weighted rate of return

C.

Money-weighted rate of return

解释：

C is correct. The money-weighted rate of return considers both the timing and amounts of investments into the fund. To calculate the money-weighted rate of return, tabulate the annual returns and investment amounts to determine the

cash flows.


Solving for IRR results in a value of IRR = −2.22 percent.

Note that A and B are incorrect because the time-weighted rate of return (TWR) of the fund is the same as the geometric mean return of the fund and is positive:


我用计算器CF算出来的NPV是-1090， 然后用-1090/44290=-0.0246. 和答案2.2%不同，请问这是小数点问题吗，还是我哪里出错了。

CF0=-1000

CF1=-2850

CF2=-40440

CF3=43200

npv=-1090

谢谢

添加评论
1 个答案

袁园_品职助教 · 2024年09月30日

嗨，从没放弃的小努力你好：


PV 是在给定的折现率下计算出的净现值，而 IRR 则是使得 NPV = 0 的折现率。所以在计算IRR时默认NPV=0，而不用求现金流的PV哦。

----------------------------------------------
虽然现在很辛苦，但努力过的感觉真的很好，加油！

  • 1

    回答

  • 0

    关注

  • 65

    浏览
相关问题

NO.PZ2023052302000006问题如下 A funreceives investments the beginning of eayeangenerates returns for three years follows:Whireturn measure over the three-yeperiois negative? A.Geometric mereturnB.Time-weighterate of returnC.Money-weighterate of return C is correct. The money-weighterate of return consirs both the timing anamounts of investments into the fun To calculate the money-weighterate of return, tabulate the annureturns aninvestment amounts to termine thecash flows. Solving for IRR results in a value of IRR = −2.22 percent.Note thA anB are incorrebecause the time-weighterate of return (TWR) of the funis the same the geometric mereturn of the funanis positive: 所以，我就直接选m（不知道算取巧不）

2024-09-19 15:51 1 · 回答

NO.PZ2023052302000006 问题如下 A funreceives investments the beginning of eayeangenerates returns for three years follows:Whireturn measure over the three-yeperiois negative? A.Geometric mereturn B.Time-weighterate of return C.Money-weighterate of return C is correct. The money-weighterate of return consirs both the timing anamounts of investments into the fun To calculate the money-weighterate of return, tabulate the annureturns aninvestment amounts to termine thecash flows. Solving for IRR results in a value of IRR = −2.22 percent.Note thA anB are incorrebecause the time-weighterate of return (TWR) of the funis the same the geometric mereturn of the funanis positive: 这题的Time weightereturn怎么算的呀？

2024-06-06 22:39 1 · 回答