CFA培训哪家比较靠谱呢,还有谁能帮忙解释下Time-weighted return和 Money-weighted return区别呢?
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解决时间 2021-04-19 13:54
- 提问者网友:黑米和小志
- 2021-04-18 16:22
CFA培训哪家比较靠谱呢,还有谁能帮忙解释下Time-weighted return和 Money-weighted return区别呢?
最佳答案
- 五星知识达人网友:深街酒徒
- 2021-04-18 18:00
首先回答你的这个概念区分的问题:
按照价值加权的回报(Money-weighted rate of return)是IRR。按照价值加权的回报,是在考虑所有的现金流入和现金流出的情况下,一个投资组合的内部回报率。
Time-weighted rate of return就是普通的return
中博-诚通从事财经教育十几年的时间了,在这个行业里也积攒了比较好的口碑。你可以去官网上多做了解,只有你觉得合适才行。你可以多对比对比。祝你顺利通过考试。
还有一个英文的概念区分,你可以参考一下:
Time-weighting
The term time-weighting is a bit of a misnomer. Time-weighted returns do not “weight time”—every reporting period, regardless of length or amount invested, is weighted equally. Time-weighted returns eliminate or reduce the impact of cash flows. You can see the calculations here. This makes time-weighting ideal for comparison of asset managers, since asset managers typically have no control over cash flows.
What time-weighting actually means is that each period’s return gets the same weight, regardless of how much money was invested. If, for example, a manager returned 10% the first year and -8% the second year, the two-year return would be 1.2% regardless of how much money was invested each year. This is useful when comparing two managers that had very different inflows and outflows. This is perfect to compare managers but, as we’ll see later, it has some real drawbacks in reporting on a client’s actual experience.
Money-weighting
Unlike time-weighting, which eliminates or reduces the impact of cash flows, money-weighting takes the flows into consideration. And, unlike the term time-weighting, which doesn’t involve the weighting of time, money is actually weighted in money-weighted returns. If a client makes money during a period, the return will be positive; if a client loses money, the return will be negative.
The money-weighted approach finds the interest rate or rate of return that would have to have been paid for the investor to obtain the actual ending value, given the beginning value and the deposits and withdrawals that occurred during the period. As a result, the calculation is ideal for communicating with clients about their actual results and can help avoid some of the potential confusion of Time-weighting.
按照价值加权的回报(Money-weighted rate of return)是IRR。按照价值加权的回报,是在考虑所有的现金流入和现金流出的情况下,一个投资组合的内部回报率。
Time-weighted rate of return就是普通的return
中博-诚通从事财经教育十几年的时间了,在这个行业里也积攒了比较好的口碑。你可以去官网上多做了解,只有你觉得合适才行。你可以多对比对比。祝你顺利通过考试。
还有一个英文的概念区分,你可以参考一下:
Time-weighting
The term time-weighting is a bit of a misnomer. Time-weighted returns do not “weight time”—every reporting period, regardless of length or amount invested, is weighted equally. Time-weighted returns eliminate or reduce the impact of cash flows. You can see the calculations here. This makes time-weighting ideal for comparison of asset managers, since asset managers typically have no control over cash flows.
What time-weighting actually means is that each period’s return gets the same weight, regardless of how much money was invested. If, for example, a manager returned 10% the first year and -8% the second year, the two-year return would be 1.2% regardless of how much money was invested each year. This is useful when comparing two managers that had very different inflows and outflows. This is perfect to compare managers but, as we’ll see later, it has some real drawbacks in reporting on a client’s actual experience.
Money-weighting
Unlike time-weighting, which eliminates or reduces the impact of cash flows, money-weighting takes the flows into consideration. And, unlike the term time-weighting, which doesn’t involve the weighting of time, money is actually weighted in money-weighted returns. If a client makes money during a period, the return will be positive; if a client loses money, the return will be negative.
The money-weighted approach finds the interest rate or rate of return that would have to have been paid for the investor to obtain the actual ending value, given the beginning value and the deposits and withdrawals that occurred during the period. As a result, the calculation is ideal for communicating with clients about their actual results and can help avoid some of the potential confusion of Time-weighting.
全部回答
- 1楼网友:毛毛
- 2021-04-18 20:45
融仕国际CFA教育 靠谱哈追问?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????追答专做CFA的机构,您不知道吗???通过三个级别得两年时间
- 2楼网友:笑迎怀羞
- 2021-04-18 19:39
财萃网很高兴回答,首先跟你解答下区别,money weighted return就是irr,time weighted return就是普通的return。关于你的第一个问题,宝宝不能说,用你善于发现的眼睛吧。
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