Question: You are operating a mutual fund which today has $100mil in assets. Your returns and fund flows into/out of the fund are listed below. Time

You are operating a mutual fund which today has $100mil in assets. Your returns and fund flows into/out of the fund are listed below.

Time =

Return

Fund Flow $Mil

1

20.00%

5

2

10.00%

3

3

-30.00%

-10

4

10.00%

4

5

-5.00%

-2

What is the dollar-weighted average (mean) of the returns?

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