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CFA Level 1
Portfolio Management

Time-Weighted Return Calculation

Hard Performance Evaluation Return Calculation

A portfolio manager has reported the following performance for a fund over the past year:

  • Starting Value: $1,000,000
  • Ending Value: $1,100,000
  • Withdrawals: $50,000

To calculate the time-weighted return (TWRR) for the fund, which of the following returns should the manager report?

Hint

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