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This paper applies Magni's (2011) Aggregate Return On Investment (AROI)to investment performance measurement. We show …
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In this note we make use of theAverage Internal Rate of Return (AIRR) approach, first introduced in Magni (2010), to introduce a pair of metrics, opposed to IRR and TWRR, which measure the manager's performance and the investor's performance on the basis of the market values of the fund. We also...
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